Two-Unit Residential Income
230 Main Street Spencer, MA 01562
230 Main Street, Spencer, MA, 01562
$380,000
For Sale
$380,000
Well-kept duplex offers two 2-bedroom, 1-bath units with updated kitchens, in-unit washer/dryers, and private driveways.
Property Size1,731 SF
Price / SF$219.53
Days on Market95
Property Features for 230 Main Street
General Information
- Standard status
- Active
- Size
- 1,731 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Vanderbilt Properties,LLC
Listed by
Steven Bracero
(617) 731-4644
Source
Hammondre
Added: Apr 19 Updated: Jul 22 at 8:53AM Checked: Jul 22 at 8:53AM
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 Vanderbilt Properties,LLC
Investment Insights
Based on property information with market context.
Well-kept 2-family home offering two separate 2-bedroom, 1-bath units. Each unit features updated kitchens with stainless steel appliances and includes in-unit washer/dryers. The property also includes a private yard and a full walkout basement, plus a 3-story detached carriage house that provides additional storage space.
Each unit has its own driveway for easy off-street parking. The home is located on a bus route near shopping, dining, and everyday amenities. Public water and sewer are available, and the property reports a solid rental history.
Additional highlights include the walkable access to Luther Hill Park, where swimming and a sandy beach are available, along with nearby shops and restaurants.
Each unit has its own driveway for easy off-street parking. The home is located on a bus route near shopping, dining, and everyday amenities. Public water and sewer are available, and the property reports a solid rental history.
Additional highlights include the walkable access to Luther Hill Park, where swimming and a sandy beach are available, along with nearby shops and restaurants.
Key Highlights
- Well‑kept 2‑family duplex built in 1920 with two 2‑bed, 1‑bath units
- Each unit has an updated kitchen with stainless steel appliances
- In‑unit washer/dryers in both units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.3k | $19.80 |
| − Vacancy | −$847 | −$0.49 |
| EGI | $33.4k | $19.31 |
| − OpEx | −$10.0k | −$5.79 |
| NOI | $23.4k | $13.52 |
1,731 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$334.3K
$292.5K – $390.0K
NOI $23,399 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$290.9K
$254.5K – $339.4K
NOI $20,363 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$591.1K
$517.2K – $689.6K
NOI $41,378 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Simonelli Leonard OD
Physician
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FAQs
What type of property is this?
Duplex - Well-kept duplex offers two 2-bedroom, 1-bath units with updated kitchens, in-unit washer/dryers, and private driveways.
Where is this duplex located?
The property is located at 230 Main Street Spencer, MA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Well‑kept 2‑family duplex built in 1920 with two 2‑bed, 1‑bath units; Each unit has an updated kitchen with stainless steel appliances; In‑unit washer/dryers in both units
