Corner-Lot
For Sale
$340,000
16 Temple St, Spencer, MA 01562
The upper-floor apartment is leased, and both units have washer and dryer hookups.
Property Size1,742 SF
Price / SF$195.18
Days on Market8
Property Features for 16 Temple St
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Residential Income
Zoning
1040
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,808
Amenities
in-unit washer/dryer hookups
cable availability
Bathroom With Tub & Shower
Open Floorplan
Living Room
Kitchen
Office/Den
Laundry Room
Balcony/Deck
Balcony
Building Details
Building Size
1,742 SF
Year Built
1887
Stories
2
Units
2
Listing Agency:
Lamacchia Realty, Inc.
Listed By:
Anthony Marzilli
(774) 242-8416
Source:
Fayesimonrealestate
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 1:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lamacchia Realty, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit residential property at 16 Temple St in Spencer has kitchens connected to the main living areas, bedrooms, and in-unit washer and dryer hookups. Cable service is available. Parking options include off-street spaces and on-street parking.
The second-floor apartment is tenant-occupied under an active lease. The property was built in 1887.
The second-floor apartment is tenant-occupied under an active lease. The property was built in 1887.
Key Highlights
- Two residential units
- Second‑floor apartment has a tenant and an active lease
- In‑unit washer and dryer hookups in both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,548
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,960
$471.0K
Cap Rate 7%
$336,400
$336.4K
Cap Rate 9%
$261,644
$261.6K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$34.5K $19.80/SF
− Vacancy
−$852 −$0.49/SF
EGI
$33.6K $19.31/SF
− OpEx
−$10.1K −$5.79/SF
NOI
$23.5K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,960
Cap Rate 7%
$336,400
Cap Rate 9%
$261,644
Alternative Uses
Best Use
Multifamily LT 5
$336.4K
$294.4K – $392.5K
NOI $23,548 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$292.8K
$256.2K – $341.6K
NOI $20,493 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$594.9K
$520.5K – $694.0K
NOI $41,641 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 01562, MA
11,992
Population
5,788
Households
2.1
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
32.9 sq mi
ZIP Area
364
Density / Sq Mi
$79,086
Median Household Income
$49,131
Median Earnings
$1,085
Median Rent
$368,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The upper-floor apartment is leased, and both units have washer and dryer hookups.
Where is this duplex located?
The property is located at 16 Temple St Spencer, MA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two residential units; Second‑floor apartment has a tenant and an active lease; In‑unit washer and dryer hookups in both apartments
