Multifamily Property with
New
For Sale
$1,600,000
21-23 Oxford Ave16-18 West Street, Dudley, MA 01571
Multi-Family For Sale, Dudley, MA
Property Size5,124 SF
Lot Size0.61 Acres
Price / SF$312.26
Days on Market7
Property Features for 21-23 Oxford Ave16-18 West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
14
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bathroom 3, Bedroom 13, Bedroom 6, Bathroom 1, Bathroom 6, Bedroom 12, Bedroom 9, Bathroom 4, Bathroom 5, Bedroom 4, Bathroom 2, Bedroom 14, Bedroom 3, Bedroom 8, Bedroom 10, Bedroom 11, Bedroom 1, Bedroom 2, Bedroom 7, Basement
Patio and Porch features
Porch
Exterior features
Shed,Porch
Basement
Full
Lot features
Corner Lot, Level Lot
Elementary school
Dudley
High school
Shepard Hill Regional
Directions
Use Gps
Standard status
Active
Size
5,124 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
7034
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Other (Heating)
Water source
Public
Building Details
Year built
1900
Listing Agency:
M. Titus Realty · RE/MAX International
(508) 243-2251
Listed By:
Melinda Titus
(508) 949-3368
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 15 at 4:06PM
MLS# 24205894
Copyright © 2026 SmartMLS, 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 multifamily property includes five houses situated on three lots, with a combined property size of 5,124 square feet on 0.61 acres. The buildings date to 1900 and offer garages, yard space, storage, sheds, and porches. Each house includes 2–3 bedrooms and 1–2 bathrooms, providing a varied residential configuration within one offering.
The property is located in Dudley, Massachusetts, and is served by public water and public sewer. Four units have long-term tenants, while one unit is vacant and ready for a new tenant or owner occupancy. The properties are being offered together and sold as-is.
The property is located in Dudley, Massachusetts, and is served by public water and public sewer. Four units have long-term tenants, while one unit is vacant and ready for a new tenant or owner occupancy. The properties are being offered together and sold as-is.
Key Highlights
- Five houses across three lots
- 5,124 square feet on 0.61 acres
- Each house has 2–3 bedrooms and 1–2 bathrooms
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
$60,279
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
3.77%
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%
$1,205,580
$1.2M
Cap Rate 7%
$861,129
$861.1K
Cap Rate 9%
$669,767
$669.8K
Market Conditions
NOI Build-Up for 5,124 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
$112.5K $21.96/SF
− Vacancy
−$2.9K −$0.57/SF
EGI
$109.6K $21.39/SF
− OpEx
−$49.3K −$9.63/SF
NOI
$60.3K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,205,580
Cap Rate 7%
$861,129
Cap Rate 9%
$669,767
Alternative Uses
Best Use
Apartment 5plus
$861.1K
$753.5K – $1.00M
NOI $60,279 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,484 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 01571, MA
11,921
Population
4,295
Households
2.8
Avg Household Size
40
Median Age
25%
College-Educated
92%
High-School Grad
20.8 sq mi
ZIP Area
573
Density / Sq Mi
$85,179
Median Household Income
$43,232
Median Earnings
$1,188
Median Rent
$372,400
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?
Multifamily property - Five-house residential income property across three lots with garages, storage, public utilities, and one unit available for occupancy.
Where is this multifamily property located?
The property is located at 21-23 Oxford Ave16-18 West Street Dudley, MA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Five houses across three lots; 5,124 square feet on 0.61 acres; Each house has 2–3 bedrooms and 1–2 bathrooms
