Well-Maintained Multifamily
32 Main Street Spencer, MA 01562
32 Main Street, Spencer, MA, 01562
$485,000
For Sale
$485,000
Well-maintained multi-unit home with multiple entrances, bedrooms, and well-equipped kitchens plus private balconies.
Property Size2,643 SF
Price / SF$183.50
Days on Market64
Property Features for 32 Main Street
General Information
- Standard status
- Active
- Size
- 2,643 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1887
Listing agency
Property Investors & Advisors,LLC
Listed by
Olotu J. Wariebi
(978) 922-3683
Source
Jbarrettrealty
Added: May 19 Updated: Jul 20 at 7:24PM Checked: Jul 21 at 7:05AM
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 Property Investors & Advisors,LLC
Investment Insights
Based on property information with market context.
This well-maintained multi-unit house offers a mix of cozy interior space and outdoor areas, including private balconies for each unit. Inside, the living layout is arranged for comfort and functionality, with multiple entrances, bedrooms, and well-equipped kitchens.
The property is located at 32 Main Street in Spencer, Massachusetts. The home’s configuration supports separate access through multiple entrances.
Overall, it presents as a residential income property with outdoor seating space and multiple independent living components within the same structure.
The property is located at 32 Main Street in Spencer, Massachusetts. The home’s configuration supports separate access through multiple entrances.
Overall, it presents as a residential income property with outdoor seating space and multiple independent living components within the same structure.
Key Highlights
- Multi‑unit home built in 1887
- Includes private balconies
- Multiple entrances
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.0k | $21.96 |
| − Vacancy | −$1.5k | −$0.57 |
| EGI | $56.5k | $21.39 |
| − OpEx | −$25.4k | −$9.63 |
| NOI | $31.1k | $11.76 |
2,643 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$444.2K
$388.7K – $518.2K
NOI $31,092 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$902.5K
$789.7K – $1.05M
NOI $63,178 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
HOME
Housing Society
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Well-maintained multi-unit home with multiple entrances, bedrooms, and well-equipped kitchens plus private balconies.
Where is this multifamily property located?
The property is located at 32 Main Street Spencer, MA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Multi‑unit home built in 1887; Includes private balconies; Multiple entrances
