Two-Family Residential
For Sale
$399,900
Pending
190 Grove St, Clinton, MA 01510
Two-family property with updated electrical and 8 bedrooms and 3 bathrooms, sold as-is with an additional lot.
Property Size1,620 SF
Days on Market104
Property Features for 190 Grove St
General Information
Standard status
Pending
Size
1,620 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
LeRoux Realty Group
Listed By:
Dennis Leroux · License #453003810
(508) 847-2321
Source:
Lockandkeyre
Added: May 27
Changed: Sep 6
Last Checked: Sep 6 at 6:53AM
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 LeRoux Realty Group
Investment Insights
Based on property information with market context.
This large two-family residential income property is configured with 8 bedrooms and 3 bathrooms and includes updated electrical work. The offering includes an additional lot, and the property is being sold as-is, with buyers encouraged to perform their own due diligence regarding use and development potential.
The home is described in the remarks as being near the Wachusett Reservoir with water views and direct access for kayaking, boating, fishing, and winter recreation.
The current configuration supports multiple occupancy arrangements, and the included additional lot provides room for future development as allowed by applicable requirements.
The home is described in the remarks as being near the Wachusett Reservoir with water views and direct access for kayaking, boating, fishing, and winter recreation.
The current configuration supports multiple occupancy arrangements, and the included additional lot provides room for future development as allowed by applicable requirements.
Key Highlights
- Two‑family property built in 1900
- Currently configured with 8 bedrooms and 3 bathrooms
- Updated electrical work
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
$21,899
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
5.48%
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%
$437,980
$438.0K
Cap Rate 7%
$312,843
$312.8K
Cap Rate 9%
$243,322
$243.3K
Market Conditions
NOI Build-Up for 1,620 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
$32.1K $19.80/SF
− Vacancy
−$792 −$0.49/SF
EGI
$31.3K $19.31/SF
− OpEx
−$9.4K −$5.79/SF
NOI
$21.9K $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%
$437,980
Cap Rate 7%
$312,843
Cap Rate 9%
$243,322
Alternative Uses
Best Use
Multifamily LT 5
$312.8K
$273.7K – $365.0K
NOI $21,899 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$272.3K
$238.2K – $317.6K
NOI $19,058 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$553.2K
$484.1K – $645.4K
NOI $38,724 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with updated electrical and 8 bedrooms and 3 bathrooms, sold as-is with an additional lot.
Where is this duplex located?
The property is located at 190 Grove St Clinton, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑family property built in 1900; Currently configured with 8 bedrooms and 3 bathrooms; Updated electrical work
