Duplex With Detached Barn
For Sale
$549,900
311 Main Street, Leicester, MA 01611
Two-parcel duplex property with a detached barn or garage, off-street parking, and additional outdoor space.
Property Size2,582 SF
Price / SF$212.97
Days on Market74
Property Features for 311 Main Street
General Information
Standard status
Active
Size
2,582 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1860
Buildings
2
Listing Agency:
Get Listed Realty,LLC
Listed By:
Kris Lippi · License #236519466
(855) 283-0001
Source:
Highlandre
Added: Jul 24
Changed: Oct 4
Last Checked: Oct 4 at 9:42AM
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 Get Listed Realty,LLC
Investment Insights
Based on property information with market context.
This duplex property includes two parcels and two buildings. The primary structure contains two residential units, while the detached barn or garage adds substantial auxiliary space for storage, parking, hobbies, or other uses subject to applicable approvals. The property was previously configured as three units, with any future use requiring buyer due diligence and municipal compliance.
Off-street parking and green space extend behind the residence, providing additional functional area beyond the main building. Built in 1860, the property is located at 311 Main St in Leicester, Massachusetts. Both parcels are included in the sale, creating a combined offering of residential improvements, an accessory structure, parking, and land.
Off-street parking and green space extend behind the residence, providing additional functional area beyond the main building. Built in 1860, the property is located at 311 Main St in Leicester, Massachusetts. Both parcels are included in the sale, creating a combined offering of residential improvements, an accessory structure, parking, and land.
Key Highlights
- Two parcels and two buildings included in the sale
- Primary residence configured with two residential units
- Property was previously used as three units, subject to approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,903
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,060
$698.1K
Cap Rate 7%
$498,614
$498.6K
Cap Rate 9%
$387,811
$387.8K
Market Conditions
NOI Build-Up for 2,582 SF
Gross rent
$51.1K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$49.9K $19.31/SF
− OpEx
−$15.0K −$5.79/SF
NOI
$34.9K $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 Rate 5%
$698,060
Cap Rate 7%
$498,614
Cap Rate 9%
$387,811
Alternative Uses
Best Use
Multifamily LT 5
$498.6K
$436.3K – $581.7K
NOI $34,903 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$433.9K
$379.7K – $506.3K
NOI $30,375 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$881.7K
$771.5K – $1.03M
NOI $61,720 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 01611, MA
2,277
Population
845
Households
2.7
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
670
Density / Sq Mi
$118,389
Median Household Income
$46,424
Median Earnings
$1,040
Median Rent
$306,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-parcel duplex property with a detached barn or garage, off-street parking, and additional outdoor space.
Where is this duplex located?
The property is located at 311 Main Street Leicester, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two parcels and two buildings included in the sale; Primary residence configured with two residential units; Property was previously used as three units, subject to approvals
