Renovated
For Sale
$375,000
Pending
255 Greenwood St, Gardner, MA 01440
Separate electric and hot-water meters serve the two residences.
Property Size1,953 SF
Days on Market39
Property Features for 255 Greenwood St
General Information
Standard status
Pending
Size
1,953 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
shared washer and dryer
common storage
private yard
off-street parking
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Keller Williams Realty Boston Northwest
(978) 369-5775
Listed By:
Sharie Warila
(978) 852-1059
Source:
Lockandkeyre
Added: Sep 24
Changed: Oct 31
Last Checked: Oct 30 at 4:16PM
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 Boston Northwest
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Investment Insights
Based on property information with market context.
This 1,953-square-foot duplex, built in 1930, contains two residences: a renovated, vacant three-bedroom, one-bath unit and an occupied two-bedroom, one-bath unit. Each has separate electric and hot-water meters; the oil heating system is shared. A walkout basement provides shared laundry and storage. Outside, the property includes a tree-lined yard, off-street parking, and a concrete pad with electricity at the former garage location.
The property is on a sidewalk-lined street near downtown shopping and restaurants, parks, and Route 2.
The property is on a sidewalk-lined street near downtown shopping and restaurants, parks, and Route 2.
Key Highlights
- Two residences: one with 3 bedrooms and 1 bath, the other with 2 bedrooms and 1 bath
- 1,953‑square‑foot duplex built in 1930
- Renovated unit is vacant; the second unit is occupied by tenants‑at‑will
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,400
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,000
$528.0K
Cap Rate 7%
$377,143
$377.1K
Cap Rate 9%
$293,333
$293.3K
Market Conditions
NOI Build-Up for 1,953 SF
Gross rent
$38.7K $19.80/SF
− Vacancy
−$955 −$0.49/SF
EGI
$37.7K $19.31/SF
− OpEx
−$11.3K −$5.79/SF
NOI
$26.4K $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 Rate 5%
$528,000
Cap Rate 7%
$377,143
Cap Rate 9%
$293,333
Alternative Uses
Best Use
Multifamily LT 5
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,975 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$666.9K
$583.6K – $778.1K
NOI $46,685 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 01440, MA
21,577
Population
9,600
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
24.5 sq mi
ZIP Area
881
Density / Sq Mi
$63,526
Median Household Income
$43,737
Median Earnings
$1,071
Median Rent
$270,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate electric and hot-water meters serve the two residences.
Where is this duplex located?
The property is located at 255 Greenwood St Gardner, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two residences: one with 3 bedrooms and 1 bath, the other with 2 bedrooms and 1 bath; 1,953‑square‑foot duplex built in 1930; Renovated unit is vacant; the second unit is occupied by tenants‑at‑will
