Waterfront Duplex with Finished Lower
For Sale
$799,900
286 Grove Street, Clinton, MA 01510
Newly built waterfront residence with flexible living space, multiple decks, and direct river access.
Property Size4,098 SF
Price / SF$195.19
Days on Market160
Property Features for 286 Grove Street
General Information
Standard status
Active
Size
4,098 SF
Total Parking Spaces
3
Property subtype
Multi-family / 2 Family
Zoning
R-1
Net Operating Income
$52,800
Additional Details
Road Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,483
Amenities
waterfront location
direct frontage to Nashua River
views of Wachusett Reservoir
conservation land
quartz kitchen with custom cabinetry
new appliances
hardwood flooring
full length deck
laundry on every level
soaring ceilings
flexible bonus room
finished walkout lower level
two full decks
easy hiking
No, Yes, .00, Paved Drive, Paved Drive
No
Hardwood
Insulated Doors
3.0
Insulated Windows
Electric Dryer Hookup, Washer Hookup
Full, Finished, Walk Out, Interior Access
3
3.00
Scenic View(s), Yes
Stone, Other
Shingle
Corner Lot
Rain Gutters, Garden, Stone Wall, Garden Area, Porch, Deck - Wood
Lake, Public, River
Waterfront, Lake, River, Frontage, Direct Access, Public
Porch, Deck - Wood
Building Details
Year Built
2025
Listing Agency:
Mathieu Newton Sotheby's International Realty
(508) 366-9608
Listed By:
Melissa Garcia · License #9588341
(508) 366-9608
Source:
Compass
Added: Mar 25
Changed: Aug 31
Last Checked: Aug 31 at 12:18AM
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 Mathieu Newton Sotheby's International Realty
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex offers 4–5 bedrooms and 3 baths across 4,098 square feet. The interior features an open main level with hardwood floors, quartz countertops, custom cabinetry, new appliances, and a bright living area opening to a full-length deck. Laundry hookups are provided on every level, while the finished walkout lower level includes interior access and can accommodate additional living space, an office, guest area, or rental use.
The property has direct waterfront frontage on the Nashua River, with public access for fishing, kayaking, and canoeing. Two wood decks, three designated parking spaces, insulated windows and doors, rain gutters, a garden area, and a stone wall are among the improvements. The home sits at the end of a dead-end street, borders conservation land, and includes scenic views toward the Wachusett Reservoir. Zoning is R-1.
The property has direct waterfront frontage on the Nashua River, with public access for fishing, kayaking, and canoeing. Two wood decks, three designated parking spaces, insulated windows and doors, rain gutters, a garden area, and a stone wall are among the improvements. The home sits at the end of a dead-end street, borders conservation land, and includes scenic views toward the Wachusett Reservoir. Zoning is R-1.
Key Highlights
- 2025 construction with 4,098 square feet, 4–5 bedrooms, and 3 baths
- Direct waterfront frontage on the Nashua River with public access
- Finished walkout lower level with interior access and flexible use
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
$55,395
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
6.93%
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%
$1,107,900
$1.1M
Cap Rate 7%
$791,357
$791.4K
Cap Rate 9%
$615,500
$615.5K
Market Conditions
NOI Build-Up for 4,098 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
$81.1K $19.80/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$79.1K $19.31/SF
− OpEx
−$23.7K −$5.79/SF
NOI
$55.4K $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 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%
$1,107,900
Cap Rate 7%
$791,357
Cap Rate 9%
$615,500
Alternative Uses
Best Use
Multifamily LT 5
$791.4K
$692.4K – $923.3K
NOI $55,395 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$688.7K
$602.6K – $803.5K
NOI $48,209 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,959 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
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 - Newly built waterfront residence with flexible living space, multiple decks, and direct river access.
Where is this duplex located?
The property is located at 286 Grove Street Clinton, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 2025 construction with 4,098 square feet, 4–5 bedrooms, and 3 baths; Direct waterfront frontage on the Nashua River with public access; Finished walkout lower level with interior access and flexible use
