Multi-Unit Residential Income
For Sale
$749,900
Pending
29 Morningside St, Leominster, MA 01453
Built in 2005, the property includes a walk-out basement and balcony.
Property Size3,488 SF
Days on Market104
Property Features for 29 Morningside St
General Information
Standard status
Pending
Size
3,488 SF
Total Parking Spaces
13
Property subtype
Residential Income
Zoning
RA
Taxes and HOA fees
Annual Taxes
$9,241
Amenities
Therapeutic Whirlpool
Ceiling Fan(s), Zoned, Multi Units
Full, Walk-Out Access, Interior Entry, Concrete, Unfinished
Range, Disposal, Refrigerator, Washer, Dryer, Dishwasher, Microwave
Walk-In Closet(s), Ceiling Fan(s), Storage, Central Vacuum, Open Floorplan
Balcony
Building Details
Building Size
3,488 SF
Year Built
2005
Stories
3
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Jean-Marie Minton · License #360520121
(617) 751-0312
Source:
Evrealestate
Added: Jul 18
Changed: Oct 26
Last Checked: Oct 28 at 8:34AM
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 Evolution
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Investment Insights
Based on property information with market context.
This 2005 residential income property is configured for multiple units and features zoned interiors, an open floor plan, walk-in closets, and storage. A full, unfinished basement has concrete construction and walk-out access. The property also includes a balcony, ceiling fans, and central vacuum. Kitchen appliances include a range, disposal, refrigerator, washer, dryer, dishwasher, and microwave.
Key Highlights
- Multi‑unit configuration
- Built in 2005
- Full unfinished basement with concrete construction and walk‑out access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,033
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,660
$820.7K
Cap Rate 7%
$586,186
$586.2K
Cap Rate 9%
$455,922
$455.9K
Market Conditions
NOI Build-Up for 3,488 SF
Gross rent
$76.6K $21.96/SF
− Vacancy
−$2.0K −$0.57/SF
EGI
$74.6K $21.39/SF
− OpEx
−$33.6K −$9.63/SF
NOI
$41.0K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,660
Cap Rate 7%
$586,186
Cap Rate 9%
$455,922
Alternative Uses
Best Use
Apartment 5plus
$586.2K
$512.9K – $683.9K
NOI $41,033 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,377 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 2005, the property includes a walk-out basement and balcony.
Where is this residential income property located?
The property is located at 29 Morningside St Leominster, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Multi‑unit configuration; Built in 2005; Full unfinished basement with concrete construction and walk‑out access
