Building Details

Building Size 3,810 SF

Year Built 1790

Stories 3

Units 2

Listing Agency: Acres Away Realty, Inc. j***@lockandkeyma.com Show Phone

Listed By: Diane Deciccio Show Phone

Source: Aucoinryanrealty

Added: Jun 23 Changed: Aug 30 Last Checked: Jul 4 at 1:55AM

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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 Acres Away Realty, Inc.

Investment Insights

Based on property information with market context.

Built in 1790, this 3,810-square-foot duplex contains two separate living spaces. The first-floor residence includes two bedrooms, two bathrooms, a living room, dining room, kitchen, office, mudroom, skylight, and basement access. The upper residence provides three bedrooms, two bathrooms, a living room with a permitted wood stove, a front-to-back loft, kitchen, cathedral ceiling, and three-season porch. Wide pine flooring appears in both units, while the first-floor office features French pocket doors.

A wraparound porch extends around much of the home, and the rear property line follows Wachusett Brook, with granite and stone formations along the water. The property is located at 299 Sterling Rd in Princeton, Massachusetts.

Key Highlights

• 3,810‑square‑foot duplex built in 1790
• Two distinct residences, each with 2 bathrooms
• First‑floor unit includes 2 bedrooms, office, mudroom, and basement access

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

$51,502

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

6.96%

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%

$1,030,040 $1.0M

Cap Rate 7%

$735,743 $735.7K

Cap Rate 9%

$572,244 $572.2K

Market Conditions

NOI Build-Up for 3,810 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

$75.4K $19.80/SF

− Vacancy

−$1.9K −$0.49/SF

EGI

$73.6K $19.31/SF

− OpEx

−$22.1K −$5.79/SF

NOI

$51.5K $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%

$1,030,040

Cap Rate 7%

$735,743

Cap Rate 9%

$572,244

Alternative Uses

Best Use

Multifamily LT 5

$735.7K

$643.8K – $858.4K (±1% cap)

NOI $51,502 @ 7.0% cap · market cap 6.96%

Second Best

Apartment 5plus

$640.3K

$560.3K – $747.0K (±1% cap)

NOI $44,821 @ 7.0% cap · market cap 6.06%

Theoretical Best

Office A

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,074 @ 7.0% cap · market cap 12.31%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Auto Repair Shop Big Box & Wholesale Store Garden Center Grocery & Convenience Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

14

Businesses Nearby

Explore this area Business Placement

Demographics for 01541, MA

3,495

Population

1,409

Households

2.5

Avg Household Size

49

Median Age

62%

College-Educated

99%

High-School Grad

35.4 sq mi

ZIP Area

99

Density / Sq Mi

$150,577

Median Household Income

$71,212

Median Earnings

$921

Median Rent

$496,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Historic property offers distinct living areas, original wood floors, and a wraparound porch.

Where is this duplex located?

The property is located at 299 Sterling Rd Princeton, MA.

What is the asking price?

The asking price for this property is $739,900.

What are key features of this property?

This property features: 3,810‑square‑foot duplex built in 1790; Two distinct residences, each with 2 bathrooms; First‑floor unit includes 2 bedrooms, office, mudroom, and basement access