Two-Family Residential Income
For Sale
$299,900
Pending
22 Wildwood Rd, Millbury, MA 01527
Two-family property in Millbury, currently occupied, with an end-of-dead-end-street setting.
Property Size1,966 SF
Days on Market144
Property Features for 22 Wildwood Rd
General Information
Standard status
Pending
Size
1,966 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Real Broker MA, LLC
(508) 365-3532
Listed By:
Jim Black Group
(314) 325-6474
Source:
Lockandkeyre
Added: Apr 15
Changed: Sep 4
Last Checked: Sep 5 at 6:02AM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This two-family residential income property at 22 Wildwood Rd in Millbury offers a flexible layout and is currently occupied by a family with no rental history reported. The offering is presented as a value-add opportunity for a future owner prepared to renovate and reposition the property for rental or resale.
The home is located at the end of a dead-end street and provides convenient access to major routes, including Rt 20, Rt 146, and the MassPike.
As a duplex-style structure, the property is configured to support two separate dwelling units, making it well suited for buyers looking for residential rental income potential following renovation.
The home is located at the end of a dead-end street and provides convenient access to major routes, including Rt 20, Rt 146, and the MassPike.
As a duplex-style structure, the property is configured to support two separate dwelling units, making it well suited for buyers looking for residential rental income potential following renovation.
Key Highlights
- 1920‑built 2‑family property in Millbury, currently occupied
- Located at the end of a dead‑end street
- Convenient access to major routes including Rt 20, Rt 146, and the MassPike
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
$26,576
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
8.86%
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%
$531,520
$531.5K
Cap Rate 7%
$379,657
$379.7K
Cap Rate 9%
$295,289
$295.3K
Market Conditions
NOI Build-Up for 1,966 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
$38.9K $19.80/SF
− Vacancy
−$961 −$0.49/SF
EGI
$38.0K $19.31/SF
− OpEx
−$11.4K −$5.79/SF
NOI
$26.6K $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%
$531,520
Cap Rate 7%
$379,657
Cap Rate 9%
$295,289
Alternative Uses
Best Use
Multifamily LT 5
$379.7K
$332.2K – $442.9K
NOI $26,576 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$330.4K
$289.1K – $385.5K
NOI $23,128 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$671.4K
$587.4K – $783.3K
NOI $46,995 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Demographics for 01527, MA
13,799
Population
5,603
Households
2.5
Avg Household Size
44
Median Age
33%
College-Educated
94%
High-School Grad
15.6 sq mi
ZIP Area
885
Density / Sq Mi
$116,000
Median Household Income
$62,911
Median Earnings
$1,507
Median Rent
$415,600
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?
Duplex - Two-family property in Millbury, currently occupied, with an end-of-dead-end-street setting.
Where is this duplex located?
The property is located at 22 Wildwood Rd Millbury, MA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1920‑built 2‑family property in Millbury, currently occupied; Located at the end of a dead‑end street; Convenient access to major routes including Rt 20, Rt 146, and the MassPike
