Renovated Two-Unit
For Sale
$475,000
Pending
20 Mechanic St, Winchendon, MA 01475
Both apartments have three bedrooms and individual mini-split heating and cooling systems.
Property Size2,824 SF
Days on Market40
Property Features for 20 Mechanic St
General Information
Standard status
Pending
Size
2,824 SF
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
mini-split heating and cooling
Building Details
Year Built
1880
Listing Agency:
Coldwell Banker Realty - Leominster
(978) 840-4014
Listed By:
Tiffany McDonald · License #449596680
(978) 696-1267
Source:
Amiconeassociates
Added: Sep 23
Changed: Nov 1
Last Checked: Oct 31 at 11:12PM
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 Coldwell Banker Realty - Leominster
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Investment Insights
Based on property information with market context.
This duplex at 20 Mechanic St in Winchendon contains two apartments, each with three bedrooms and one full bathroom, for a total of six bedrooms and two bathrooms. The 2,824-square-foot building was substantially rebuilt approximately five years ago, with updated electrical and plumbing, kitchens, bathrooms, water heaters, and spray foam insulation in the walls and floors. Each apartment has a mini-split system for heating and cooling. The roof, siding, and windows were also updated within the last five years.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bathroom
- 2,824‑square‑foot duplex with 6 bedrooms and 2 full bathrooms
- Electrical, plumbing, kitchens, bathrooms, and water heaters updated approximately five years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,174
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,480
$763.5K
Cap Rate 7%
$545,343
$545.3K
Cap Rate 9%
$424,156
$424.2K
Market Conditions
NOI Build-Up for 2,824 SF
Gross rent
$55.9K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$54.5K $19.31/SF
− OpEx
−$16.4K −$5.79/SF
NOI
$38.2K $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%
$763,480
Cap Rate 7%
$545,343
Cap Rate 9%
$424,156
Alternative Uses
Best Use
Multifamily LT 5
$545.3K
$477.2K – $636.2K
NOI $38,174 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$474.6K
$415.3K – $553.7K
NOI $33,221 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$964.4K
$843.8K – $1.13M
NOI $67,505 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
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Business Placement
Demographics for 01475, MA
10,304
Population
4,095
Households
2.5
Avg Household Size
42
Median Age
24%
College-Educated
94%
High-School Grad
42.8 sq mi
ZIP Area
241
Density / Sq Mi
$85,638
Median Household Income
$50,352
Median Earnings
$1,245
Median Rent
$294,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have three bedrooms and individual mini-split heating and cooling systems.
Where is this duplex located?
The property is located at 20 Mechanic St Winchendon, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bathroom; 2,824‑square‑foot duplex with 6 bedrooms and 2 full bathrooms; Electrical, plumbing, kitchens, bathrooms, and water heaters updated approximately five years ago
