Two-Frontage Duplex on One
For Sale
$599,500
19 Wallis Park, Lunenburg, MA 01462
Duplex with two separate yards, stainless steel appliances, and two tenants generating monthly rental income.
Property Size2,600 SF
Price / SF$230.58
Days on Market165
Property Features for 19 Wallis Park
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
RA
Occupancy
100%
Net Operating Income
$50,520
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,079
Building Details
Building Size
2,600 SF
Year Built
1950
Stories
4
Tenancy
Multi
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 25
Changed: Sep 4
Last Checked: Sep 4 at 3:31AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This duplex offers two houses on one lot, with two frontage positions. Unit A is a 4-bedroom home and Unit B is a 3-bedroom home. Both units include stainless steel appliances and each has its own large yard.
The property is described as being across the street from playgrounds and a basketball court. Delivery is scheduled with both tenants in place, and the current tenants are reported to pay monthly.
The seller states the rent totals $4,587 per month. The seller also notes the property could be converted into two separate single-family homes based on the two-frontage layout. Photos were taken prior to the tenants moving in, and showings are limited to weekends.
The property is described as being across the street from playgrounds and a basketball court. Delivery is scheduled with both tenants in place, and the current tenants are reported to pay monthly.
The seller states the rent totals $4,587 per month. The seller also notes the property could be converted into two separate single-family homes based on the two-frontage layout. Photos were taken prior to the tenants moving in, and showings are limited to weekends.
Key Highlights
- Two houses on one lot with 2 frontages (duplex) and two separate yards
- Unit A is a 4‑bedroom home and Unit B is a 3‑bedroom home
- Total monthly rent is $4,587 with both tenants paying each month
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,146
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,920
$702.9K
Cap Rate 7%
$502,086
$502.1K
Cap Rate 9%
$390,511
$390.5K
Market Conditions
NOI Build-Up for 2,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.5K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$50.2K $19.31/SF
− OpEx
−$15.1K −$5.79/SF
NOI
$35.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,920
Cap Rate 7%
$502,086
Cap Rate 9%
$390,511
Alternative Uses
Best Use
Multifamily LT 5
$502.1K
$439.3K – $585.8K
NOI $35,146 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$436.9K
$382.3K – $509.8K
NOI $30,586 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$887.9K
$776.9K – $1.04M
NOI $62,150 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 01462, MA
11,818
Population
4,711
Households
2.5
Avg Household Size
44
Median Age
45%
College-Educated
94%
High-School Grad
26.6 sq mi
ZIP Area
444
Density / Sq Mi
$109,884
Median Household Income
$58,844
Median Earnings
$1,784
Median Rent
$442,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two separate yards, stainless steel appliances, and two tenants generating monthly rental income.
Where is this duplex located?
The property is located at 19 Wallis Park Lunenburg, MA.
What is the asking price?
The asking price for this property is $599,500.
What are key features of this property?
This property features: Two houses on one lot with 2 frontages (duplex) and two separate yards; Unit A is a 4‑bedroom home and Unit B is a 3‑bedroom home; Total monthly rent is $4,587 with both tenants paying each month
