Three-Unit Residential Income
242 Pine Street Gardner, MA 01440
242 Pine Street, Gardner, MA, 01440
$549,900
For Sale
$549,900
Each unit offers three bedrooms and one bath, with enclosed front porches and separately metered utilities.
Property Size3,048 SF
Price / SF$180.41
Days on Market91
Property Features for 242 Pine Street
General Information
- Standard status
- Active
- Size
- 3,048 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1910
Listing agency
Keller Williams Realty North Central
(978) 840-9000
Listed by
Andrea Sandoval · License #9578674
(978) 840-9000
Source
Compass
Added: Apr 24 Updated: Jul 22 at 10:27PM Checked: Jul 22 at 10:27PM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
This three-unit residential income property features each unit with three bedrooms and one bath, along with a spacious kitchen, living and dining rooms, a pantry, and an enclosed front porch. The layout also allows for flexibility, including the potential for a two-bedroom setup with an oversized living room and a separate dining area.
The property includes a two-car garage accessible through the basement, providing additional storage or parking. Utilities are separately metered for gas and electricity, supporting independent utility management by unit.
The home is supported by recently updated gas-fired hot water boilers, which help provide reliable building systems for the property’s operation.
The property includes a two-car garage accessible through the basement, providing additional storage or parking. Utilities are separately metered for gas and electricity, supporting independent utility management by unit.
The home is supported by recently updated gas-fired hot water boilers, which help provide reliable building systems for the property’s operation.
Key Highlights
- Two‑unit setup built in 1910, with each unit offering 3 bedrooms and 1 bath
- Enclosed front porches for each unit plus wood and laminate flooring
- Living and dining rooms, spacious kitchens, and a pantry in each unit
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 | $60.4k | $19.80 |
| − Vacancy | −$1.5k | −$0.49 |
| EGI | $58.9k | $19.31 |
| − OpEx | −$17.7k | −$5.79 |
| NOI | $41.2k | $13.52 |
3,048 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$588.6K
$515.0K – $686.7K
NOI $41,202 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$512.2K
$448.2K – $597.6K
NOI $35,857 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$1.04M
$910.7K – $1.21M
NOI $72,859 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Each unit offers three bedrooms and one bath, with enclosed front porches and separately metered utilities.
Where is this triplex located?
The property is located at 242 Pine Street Gardner, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit setup built in 1910, with each unit offering 3 bedrooms and 1 bath; Enclosed front porches for each unit plus wood and laminate flooring; Living and dining rooms, spacious kitchens, and a pantry in each unit
