Residential Income
For Sale
$325,000
24 Caron Street, Southbridge, MA 01550
Empty duplex property is ready for renovation, though it may not qualify for all financing programs.
Property Size2,073 SF
Price / SF$156.78
Days on Market270
Property Features for 24 Caron Street
General Information
Standard status
Active
Size
2,073 SF
Total Parking Spaces
5
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
R3
Taxes and HOA fees
Annual Taxes
$4,603
Amenities
City/Town Sewer, Public
No
2.0
Full
2
2.00
Level
Building Details
Year Built
1900
Listing Agency:
Real Broker MA, LLC
Listed By:
Tony Palmerino · License #9535769
(855) 450-0442
Source:
Compass
Added: Dec 14, 2025
Changed: Aug 8
Last Checked: Jul 23 at 3:20PM
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 for-sale duplex is delivered empty and will require some work. It’s being marketed as a residential income property with a unit configuration typical of duplexes, positioned for investors or landlords who want to renovate and re-stabilize the asset.
The property is located at 24 Caron Street in Southbridge, MA. The seller notes that the property will not qualify for all types of financing, which prospective buyers should review during their funding due diligence.
At this time, no additional details are provided regarding building condition beyond the need for work, or about specific improvements, layout, or current operating income.
The property is located at 24 Caron Street in Southbridge, MA. The seller notes that the property will not qualify for all types of financing, which prospective buyers should review during their funding due diligence.
At this time, no additional details are provided regarding building condition beyond the need for work, or about specific improvements, layout, or current operating income.
Key Highlights
- Empty duplex property delivered ready for renovation (currently has no tenants in place).
- 2 bathrooms total (2 full baths).
- Full basement.
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
$28,022
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
8.62%
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%
$560,440
$560.4K
Cap Rate 7%
$400,314
$400.3K
Cap Rate 9%
$311,356
$311.4K
Market Conditions
NOI Build-Up for 2,073 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
$41.0K $19.80/SF
− Vacancy
−$1.0K −$0.49/SF
EGI
$40.0K $19.31/SF
− OpEx
−$12.0K −$5.79/SF
NOI
$28.0K $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%
$560,440
Cap Rate 7%
$400,314
Cap Rate 9%
$311,356
Alternative Uses
Best Use
Multifamily LT 5
$400.3K
$350.3K – $467.0K
NOI $28,022 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$348.4K
$304.8K – $406.5K
NOI $24,387 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$707.9K
$619.4K – $825.9K
NOI $49,553 @ 7.0% cap · market cap 15.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Empty duplex property is ready for renovation, though it may not qualify for all financing programs.
Where is this duplex located?
The property is located at 24 Caron Street Southbridge, MA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Empty duplex property delivered ready for renovation (currently has no tenants in place).; 2 bathrooms total (2 full baths).; Full basement.
