Updated Two-Family
For Sale
$495,000
3 Chestnut Street, Dudley, MA 01571
Freshly painted units feature new vinyl plank flooring, updated kitchens, refreshed bathrooms, and mini-split HVAC systems.
Property Size2,664 SF
Price / SF$185.81
Days on Market119
Property Features for 3 Chestnut Street
General Information
Standard status
Active
Size
2,664 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
B15
Additional Details
Multifamily Units
2
Building Details
Building Size
2,664 SF
Year Built
1930
Stories
3
Listing Agency:
Lamacchia Realty, Inc.
Listed By:
The Balestracci Group
(508) 832-5324
Source:
Hometown-team
Added: May 10
Changed: Aug 31
Last Checked: Aug 25 at 3:02AM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This updated two-family residence is offered for sale with both units vacant, providing flexibility for immediate occupancy or rental use. Interior updates include freshly painted walls and new vinyl plank flooring in both units.
The kitchens have been updated with attractive cabinetry and functional layouts, and the bathrooms were refreshed with tiled floors and additional tasteful improvements. Each unit is also equipped with an efficient mini-split heating and cooling system for year-round comfort.
The property is configured as a duplex and presents as move-in ready based on the recent interior updates throughout both units.
The kitchens have been updated with attractive cabinetry and functional layouts, and the bathrooms were refreshed with tiled floors and additional tasteful improvements. Each unit is also equipped with an efficient mini-split heating and cooling system for year-round comfort.
The property is configured as a duplex and presents as move-in ready based on the recent interior updates throughout both units.
Key Highlights
- Updated 2‑family property built in 1930 with both units freshly painted and move‑in ready
- New vinyl plank flooring throughout both units
- Updated kitchens with attractive cabinetry and functional layouts
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
$36,011
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
7.27%
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%
$720,220
$720.2K
Cap Rate 7%
$514,443
$514.4K
Cap Rate 9%
$400,122
$400.1K
Market Conditions
NOI Build-Up for 2,664 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
$52.7K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$51.4K $19.31/SF
− OpEx
−$15.4K −$5.79/SF
NOI
$36.0K $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%
$720,220
Cap Rate 7%
$514,443
Cap Rate 9%
$400,122
Alternative Uses
Best Use
Multifamily LT 5
$514.4K
$450.1K – $600.2K
NOI $36,011 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$447.7K
$391.7K – $522.3K
NOI $31,339 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$909.7K
$796.0K – $1.06M
NOI $63,680 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 01571, MA
11,921
Population
4,295
Households
2.8
Avg Household Size
40
Median Age
25%
College-Educated
92%
High-School Grad
20.8 sq mi
ZIP Area
573
Density / Sq Mi
$85,179
Median Household Income
$43,232
Median Earnings
$1,188
Median Rent
$372,400
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 - Freshly painted units feature new vinyl plank flooring, updated kitchens, refreshed bathrooms, and mini-split HVAC systems.
Where is this duplex located?
The property is located at 3 Chestnut Street Dudley, MA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Updated 2‑family property built in 1930 with both units freshly painted and move‑in ready; New vinyl plank flooring throughout both units; Updated kitchens with attractive cabinetry and functional layouts
