Duplex with Basement
New
For Sale
$399,900
282 Lancaster St, Leominster, MA 01453
Zoned Business A duplex with individually metered units and flexible 2- or 3-bedroom layouts.
Property Size1,536 SF
Price / SF$260.35
Days on Market5
Property Features for 282 Lancaster St
General Information
Standard status
Active
Size
1,536 SF
Property subtype
2 Family - 2 Units Up/Down
Zoning
Business A
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
Lock and Key Realty
(413) 717-0635
Listed By:
Jordan Healy
(413) 717-0635
Source:
Lockandkeyre
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 1 at 5:19AM
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 Lock and Key Realty
Investment Insights
Based on property information with market context.
This duplex offers two individually metered units and flexibility for use as two or three bedrooms per unit. The home includes a basement walkout, which can add options for day-to-day space planning, and there is a large yard on the property. The property is zoned Business A.
Built in 1915, the structure totals 1,536 SF. The layout supports practical living arrangements while maintaining the convenience of separate utility metering for each unit.
Built in 1915, the structure totals 1,536 SF. The layout supports practical living arrangements while maintaining the convenience of separate utility metering for each unit.
Key Highlights
- Zoned Business A
- Two‑family duplex with individually metered units
- Units can be used as 2- or 3‑bedroom layouts
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 | $30.4k | $19.80 |
| − Vacancy | −$751 | −$0.49 |
| EGI | $29.7k | $19.31 |
| − OpEx | −$8.9k | −$5.79 |
| NOI | $20.8k | $13.52 |
1,536 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$296.6K
$259.5K – $346.1K
NOI $20,763 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$258.1K
$225.9K – $301.2K
NOI $18,069 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$524.5K
$459.0K – $612.0K
NOI $36,717 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
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 - Zoned Business A duplex with individually metered units and flexible 2- or 3-bedroom layouts.
Where is this duplex located?
The property is located at 282 Lancaster St Leominster, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Zoned Business A; Two‑family duplex with individually metered units; Units can be used as 2- or 3‑bedroom layouts
