Updated Two-Family
For Sale
$629,900
2246 Providence Road, Northbridge, MA 01534
Separate utilities and laundry hookups support practical operation across both residences.
Property Size2,578 SF
Price / SF$244.34
Days on Market75
Property Features for 2246 Providence Road
General Information
Standard status
Active
Size
2,578 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
B1
Net Operating Income
$41,400
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,100
Building Details
Building Size
2,578 SF
Year Built
1775
Buildings
1
Stories
3
Listing Agency:
REMAX Andrew Realty Services
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 18
Changed: Aug 30
Last Checked: Aug 31 at 1:53PM
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 REMAX Andrew Realty Services
Investment Insights
Based on property information with market context.
This two-family duplex contains 2578 SF and dates to 1775, combining historic construction with subsequent improvements. Both residences include renovated kitchens, refreshed bathrooms, and comfortable living areas that retain elements of the original craftsmanship. Additional work includes the driveway, siding, and windows. Each unit has laundry hookups, while separate utilities support independent household operation.
The property sits on a large lot with ample parking and is served by town water and town sewer. Its Northbridge location places the home minutes from Whitinsville, shopping, dining, schools, and commuter routes. The property is zoned B1.
The property sits on a large lot with ample parking and is served by town water and town sewer. Its Northbridge location places the home minutes from Whitinsville, shopping, dining, schools, and commuter routes. The property is zoned B1.
Key Highlights
- Two‑family duplex with 2578 SF, built in 1775
- Updated kitchens and refreshed bathrooms in both units
- Separate utilities and laundry hookups for each unit
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
$34,849
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
5.53%
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%
$696,980
$697.0K
Cap Rate 7%
$497,843
$497.8K
Cap Rate 9%
$387,211
$387.2K
Market Conditions
NOI Build-Up for 2,578 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
$51.0K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$49.8K $19.31/SF
− OpEx
−$14.9K −$5.79/SF
NOI
$34.8K $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%
$696,980
Cap Rate 7%
$497,843
Cap Rate 9%
$387,211
Alternative Uses
Best Use
Multifamily LT 5
$497.8K
$435.6K – $580.8K
NOI $34,849 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$433.3K
$379.1K – $505.5K
NOI $30,328 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$880.4K
$770.3K – $1.03M
NOI $61,625 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 01534, MA
6,233
Population
2,515
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
89%
High-School Grad
9.5 sq mi
ZIP Area
656
Density / Sq Mi
$134,539
Median Household Income
$69,844
Median Earnings
$1,170
Median Rent
$451,800
Median Home Value
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 - Separate utilities and laundry hookups support practical operation across both residences.
Where is this duplex located?
The property is located at 2246 Providence Road Northbridge, MA.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: Two‑family duplex with 2578 SF, built in 1775; Updated kitchens and refreshed bathrooms in both units; Separate utilities and laundry hookups for each unit
