Two-Family Duplex with Updated
226-228 Union Street, Ashland, MA 01721
For Sale
New
$690,000
Two separate units include a two-bedroom first-floor layout and a vacant four-bedroom residence above.
Property Size2,042 SF
Price / SF$337.90
Days on Market7
Property Features for 226-228 Union Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
decks
Living Room
Kitchen
Laundry Room
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Centre Realty Group
(617) 332-0077
Listed By:
Maria Carey
(857) 413-9959
Source:
Berettarealty
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 8 at 4:53AM
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 Centre Realty Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This R2-zoned duplex contains two residences totaling 2,042 square feet. The first-floor unit has two bedrooms, a living room, and an additional room that could be converted into a bedroom. Upstairs, the four-bedroom unit is vacant. The property also includes six parking spaces and decks constructed six years ago.
Electrical service has been updated, the water heaters are less than five years old, and the heating system is newer and maintained. Recent work also includes basement insulation; the roof and siding are newer and in good condition. Built in 1900, the property sits on a large lot, with the possibility of adding a house subject to town approval.
Electrical service has been updated, the water heaters are less than five years old, and the heating system is newer and maintained. Recent work also includes basement insulation; the roof and siding are newer and in good condition. Built in 1900, the property sits on a large lot, with the possibility of adding a house subject to town approval.
Key Highlights
- Two residences: a two‑bedroom first‑floor unit and a vacant four‑bedroom upper unit
- 2,042 square feet; R2 zoning
- Six parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,209
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,180
$864.2K
Cap Rate 7%
$617,271
$617.3K
Cap Rate 9%
$480,100
$480.1K
Market Conditions
NOI Build-Up for 2,042 SF
Gross rent
$64.9K $31.80/SF
− Vacancy
−$3.2K −$1.57/SF
EGI
$61.7K $30.23/SF
− OpEx
−$18.5K −$9.07/SF
NOI
$43.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,180
Cap Rate 7%
$617,271
Cap Rate 9%
$480,100
Alternative Uses
Best Use
Multifamily LT 5
$617.3K
$540.1K – $720.2K
NOI $43,209 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$580.4K
$507.9K – $677.2K
NOI $40,629 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,620 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 01721, MA
18,832
Population
7,995
Households
2.4
Avg Household Size
42
Median Age
59%
College-Educated
98%
High-School Grad
12.3 sq mi
ZIP Area
1,531
Density / Sq Mi
$127,106
Median Household Income
$71,797
Median Earnings
$2,334
Median Rent
$586,000
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Middlesex County, MA
Properties on Market for Duplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units include a two-bedroom first-floor layout and a vacant four-bedroom residence above.
Where is this duplex located?
The property is located at 226-228 Union Street Ashland, MA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Two residences: a two‑bedroom first‑floor unit and a vacant four‑bedroom upper unit; 2,042 square feet; R2 zoning; Six parking spaces
