Two-Unit Duplex with Off-Street
New
For Sale
$410,000
193 Logan St, Gardner, MA 01440
Residential Income, Gardner, MA
Property Size2,242 SF
Lot Size0.11 Acres
Price / SF$182.87
Days on Market2
Property Features for 193 Logan St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
Parking
4
Directions
Pine St to Logan.
Standard status
Active
APN
M:0R22 B:0016 L:0029,3536655
Size
2,242 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4730
Amenities
enclosed porch
full basement
off-street parking
Building Details
Year built
1916
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 860-3609
Added: Sep 9
Last Checked: Sep 10 at 6:06AM
MLS# 73574298
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1916 duplex contains approximately 2,242 square feet of living space across two residential units. Each unit is configured with 2 bedrooms, 1 bathroom, a living room, dining room, and kitchen. Interior details include hardwood floors, built-in features, woodwork, and an enclosed porch, while the property also includes a full basement and off-street parking. City water and sewer serve the building.
The property sits on a 0.1064-acre lot at 193 Logan St in Gardner, Massachusetts, within Worcester County. Shopping, parks, walking trails, golf, medical facilities, and highway access are identified in the surrounding area. R1 zoning applies to the property.
The property sits on a 0.1064-acre lot at 193 Logan St in Gardner, Massachusetts, within Worcester County. Shopping, parks, walking trails, golf, medical facilities, and highway access are identified in the surrounding area. R1 zoning applies to the property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- Approximately 2,242 square feet of living space
- Built in 1916 on a 0.1064‑acre lot
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
$30,307
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
7.39%
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%
$606,140
$606.1K
Cap Rate 7%
$432,957
$433.0K
Cap Rate 9%
$336,744
$336.7K
Market Conditions
NOI Build-Up for 2,242 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
$44.4K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$43.3K $19.31/SF
− OpEx
−$13.0K −$5.79/SF
NOI
$30.3K $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%
$606,140
Cap Rate 7%
$432,957
Cap Rate 9%
$336,744
Alternative Uses
Best Use
Multifamily LT 5
$433.0K
$378.8K – $505.1K
NOI $30,307 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$376.8K
$329.7K – $439.6K
NOI $26,375 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$765.6K
$669.9K – $893.2K
NOI $53,593 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
846
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential units feature hardwood floors, built-ins, enclosed porch, basement storage, and separate living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 193 Logan St Gardner, MA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; Approximately 2,242 square feet of living space; Built in 1916 on a 0.1064‑acre lot
