Updated Two-Unit
For Sale
$575,000
184-186 Ash Street, Gardner, MA 01440
Two independent living areas have separate utilities and distinct kitchen and living-room layouts.
Property Size2,368 SF
Price / SF$242.82
Days on Market9
Property Features for 184-186 Ash Street
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
EXIT New Options Real Estate
Listed By:
Kevin Cormier · License #454502671
(978) 660-1097
Source:
Foster-healey
Added: Oct 17
Changed: Oct 25
Last Checked: Oct 24 at 9:18PM
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 EXIT New Options Real Estate
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Investment Insights
Based on property information with market context.
Built in 1920, this 2,368-square-foot duplex contains two units. The larger residence has three bedrooms, 1.5 baths, hardwood floors, a vaulted great room with skylights, and an open kitchen with an island and breakfast bar. The second unit includes two bedrooms, bamboo hardwood flooring, and an open kitchen and living area. Both units have been updated, and separate utilities serve each residence. Vinyl siding is another exterior improvement.
The property also has a level, fenced backyard with a covered patio, paving stones, and a stone fire pit. Zoning is R1.
The property also has a level, fenced backyard with a covered patio, paving stones, and a stone fire pit. Zoning is R1.
Key Highlights
- Two‑unit duplex with 2,368 square feet
- Main unit includes 3 bedrooms, 1.5 baths, vaulted great room, and skylights
- Second unit has 2 bedrooms and an open kitchen and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,010
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,200
$640.2K
Cap Rate 7%
$457,286
$457.3K
Cap Rate 9%
$355,667
$355.7K
Market Conditions
NOI Build-Up for 2,368 SF
Gross rent
$46.9K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$45.7K $19.31/SF
− OpEx
−$13.7K −$5.79/SF
NOI
$32.0K $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%
$640,200
Cap Rate 7%
$457,286
Cap Rate 9%
$355,667
Alternative Uses
Best Use
Multifamily LT 5
$457.3K
$400.1K – $533.5K
NOI $32,010 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$398.0K
$348.2K – $464.3K
NOI $27,857 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$808.6K
$707.6K – $943.4K
NOI $56,605 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 01440, MA
21,577
Population
9,600
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
24.5 sq mi
ZIP Area
881
Density / Sq Mi
$63,526
Median Household Income
$43,737
Median Earnings
$1,071
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent living areas have separate utilities and distinct kitchen and living-room layouts.
Where is this duplex located?
The property is located at 184-186 Ash Street Gardner, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,368 square feet; Main unit includes 3 bedrooms, 1.5 baths, vaulted great room, and skylights; Second unit has 2 bedrooms and an open kitchen and living area
