Two-Unit Duplex with Detached
New
For Sale
$399,900
291 N Main St, North Brookfield, MA 01535
Two residential units offer matching two-bedroom, one-bath layouts and recent interior and exterior improvements.
Property Size2,009 SF
Price / SF$199.05
Days on Market5
Property Features for 291 N Main St
General Information
Standard status
Active
Size
2,009 SF
Total Parking Spaces
2
Elevators
No
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
No
Highway Access
Yes
Building Details
Year Built
1845
Buildings
1
Tenancy
Multi
Listing Agency:
ERA Key Realty Services- Auburn
(774) 200-0913
Listed By:
Joshua Hoffsommer
(774) 200-0913
Source:
Lockandkeyre
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 8:59AM
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 ERA Key Realty Services- Auburn
Investment Insights
Based on property information with market context.
This duplex at 291 N Main St comprises two residential units, each arranged with two bedrooms and one full bathroom. The property dates to 1845 and includes a detached two-car garage, a spacious yard, and approximately 2,000 square feet of living space. Recent work includes bathroom updates, newer windows, gutters, thermostats, and a garage door opener.
The property is situated in North Brookfield near local shops, restaurants, schools, parks, and major routes. Its two-unit configuration, off-street garage parking, storage or workshop space, and outdoor area provide a practical setup for residential occupancy and rental use.
The property is situated in North Brookfield near local shops, restaurants, schools, parks, and major routes. Its two-unit configuration, off-street garage parking, storage or workshop space, and outdoor area provide a practical setup for residential occupancy and rental use.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bath
- Approximately 2,000 square feet of living space
- Detached 2‑car garage with parking, storage, or workshop potential
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
$27,157
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
6.79%
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%
$543,140
$543.1K
Cap Rate 7%
$387,957
$388.0K
Cap Rate 9%
$301,744
$301.7K
Market Conditions
NOI Build-Up for 2,009 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
$39.8K $19.80/SF
− Vacancy
−$983 −$0.49/SF
EGI
$38.8K $19.31/SF
− OpEx
−$11.6K −$5.79/SF
NOI
$27.2K $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%
$543,140
Cap Rate 7%
$387,957
Cap Rate 9%
$301,744
Alternative Uses
Best Use
Multifamily LT 5
$388.0K
$339.5K – $452.6K
NOI $27,157 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$337.6K
$295.4K – $393.9K
NOI $23,634 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$686.0K
$600.3K – $800.4K
NOI $48,023 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 01535, MA
4,735
Population
2,163
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
95%
High-School Grad
21.3 sq mi
ZIP Area
222
Density / Sq Mi
$81,010
Median Household Income
$55,393
Median Earnings
$973
Median Rent
$316,500
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 offer matching two-bedroom, one-bath layouts and recent interior and exterior improvements.
Where is this duplex located?
The property is located at 291 N Main St North Brookfield, 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: Two residential units, each with 2 bedrooms and 1 full bath; Approximately 2,000 square feet of living space; Detached 2‑car garage with parking, storage, or workshop potential
