Duplex with Off-Street
For Sale
$610,000
206 Union Street, Leominster, MA 01453
One unit is vacant, while the other is tenant-occupied and generating rental income.
Property Size1,935 SF
Price / SF$315.25
Days on Market85
Property Features for 206 Union Street
General Information
Standard status
Active
Size
1,935 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
in-unit laundry
off-street parking
private backyard
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Foster-Healey Real Estate
Listed By:
Stephanie Pandiscio · License #454501401
(978) 502-1238
Source:
Foster-healey
Added: Jul 24
Changed: Oct 16
Last Checked: Oct 16 at 9:32AM
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 Foster-Healey Real Estate
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Investment Insights
Based on property information with market context.
Located at 206 Union Street in Leominster, this 1,935-square-foot duplex was built in 1920 and includes two residential units. The first-floor apartment is vacant, freshly painted, and ready for occupancy, while the second-floor apartment is leased to a tenant. Both units offer spacious kitchens, comfortable living areas, and in-unit laundry.
The property includes ample off-street parking and a large private backyard. Wiring and plumbing have been mostly updated, and the roof is approximately 12 years old. The location provides access to major highways, shopping, downtown Leominster, and nearby restaurants.
The property includes ample off-street parking and a large private backyard. Wiring and plumbing have been mostly updated, and the roof is approximately 12 years old. The location provides access to major highways, shopping, downtown Leominster, and nearby restaurants.
Key Highlights
- 1,935‑square‑foot duplex built in 1920
- Vacant, freshly painted first‑floor unit
- Tenant‑occupied second‑floor unit providing rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,157
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,140
$523.1K
Cap Rate 7%
$373,671
$373.7K
Cap Rate 9%
$290,633
$290.6K
Market Conditions
NOI Build-Up for 1,935 SF
Gross rent
$38.3K $19.80/SF
− Vacancy
−$946 −$0.49/SF
EGI
$37.4K $19.31/SF
− OpEx
−$11.2K −$5.79/SF
NOI
$26.2K $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%
$523,140
Cap Rate 7%
$373,671
Cap Rate 9%
$290,633
Alternative Uses
Best Use
Multifamily LT 5
$373.7K
$327.0K – $436.0K
NOI $26,157 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$325.2K
$284.5K – $379.4K
NOI $22,763 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$660.8K
$578.2K – $770.9K
NOI $46,254 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One unit is vacant, while the other is tenant-occupied and generating rental income.
Where is this duplex located?
The property is located at 206 Union Street Leominster, MA.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: 1,935‑square‑foot duplex built in 1920; Vacant, freshly painted first‑floor unit; Tenant‑occupied second‑floor unit providing rental income
