Updated Two-Family
For Sale
$418,000
263 Front St., Winchendon, MA 01475
Two residential units feature spacious kitchens and bright living areas for owner-occupant or rental use.
Property Size2,289 SF
Price / SF$182.61
Days on Market9
Property Features for 263 Front St.
General Information
Standard status
Active
Size
2,289 SF
Property subtype
2 Family - 2 Units Side by Side
Additional Details
Multifamily Units
2
Building Details
Year Built
1846
Listing Agency:
Keller Williams Realty North Central
(978) 833-8847
Listed By:
Leanne Roy
(978) 833-8847
Source:
Lockandkeyre
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 11 at 5:46AM
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 duplex contains two residential units, each with three bedrooms, a spacious kitchen, and a bright living area. The interiors have received updates over time, and two new boilers were installed in 2026. The property was built in 1846 and offers 2,289 square feet of building area.
Located at 263 Front St. in Winchendon, the home is near shopping, dining, schools, parks, and commuter routes. Its two-unit configuration supports an owner-occupant arrangement with supplemental rental income or continued use as a multi-unit investment property.
Located at 263 Front St. in Winchendon, the home is near shopping, dining, schools, parks, and commuter routes. Its two-unit configuration supports an owner-occupant arrangement with supplemental rental income or continued use as a multi-unit investment property.
Key Highlights
- Two residential units, each with 3 bedrooms
- 2,289 square feet of building area
- Two brand‑new boilers installed in 2026
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
$30,942
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
7.40%
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%
$618,840
$618.8K
Cap Rate 7%
$442,029
$442.0K
Cap Rate 9%
$343,800
$343.8K
Market Conditions
NOI Build-Up for 2,289 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
$45.3K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$44.2K $19.31/SF
− OpEx
−$13.3K −$5.79/SF
NOI
$30.9K $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%
$618,840
Cap Rate 7%
$442,029
Cap Rate 9%
$343,800
Alternative Uses
Best Use
Multifamily LT 5
$442.0K
$386.8K – $515.7K
NOI $30,942 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$384.7K
$336.6K – $448.8K
NOI $26,928 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$781.7K
$684.0K – $911.9K
NOI $54,716 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 01475, MA
10,304
Population
4,095
Households
2.5
Avg Household Size
42
Median Age
24%
College-Educated
94%
High-School Grad
42.8 sq mi
ZIP Area
241
Density / Sq Mi
$85,638
Median Household Income
$50,352
Median Earnings
$1,245
Median Rent
$294,900
Median Home Value
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 - Two residential units feature spacious kitchens and bright living areas for owner-occupant or rental use.
Where is this duplex located?
The property is located at 263 Front St. Winchendon, MA.
What is the asking price?
The asking price for this property is $418,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms; 2,289 square feet of building area; Two brand‑new boilers installed in 2026
