Renovated Duplex with Detached
For Sale
$459,900
34-36 Crawford Street, Gardner, MA 01440
Separate utilities, updated systems, and a level yard support owner-occupant or rental use.
Property Size1,632 SF
Price / SF$281.80
Days on Market11
Property Features for 34-36 Crawford Street
General Information
Standard status
Active
Size
1,632 SF
Total Parking Spaces
2
Property subtype
Multi Family
Building Details
Year Built
1922
Buildings
1
Listing Agency:
LAER Realty Partners
(978) 855-1516
Listed By:
Lauren McNamara
(978) 855-1516
Source:
Lockandkeyre
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 4:58AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This two-level duplex, built in 1922, offers 1,632 square feet with separate utilities for each unit. Improvements include new kitchens, renovated bathrooms, hardwood and tile flooring, vinyl siding, replacement windows, and updated electrical service with circuit breakers serving each unit. The first floor has a newer Buderus heating system, while the second floor uses mini-splits for heating and cooling.
A level yard and detached two-car garage complement the property. The second-floor tenant is scheduled to move out on 08/31/2026, providing a defined change in occupancy for the next owner. The property is located at 34-36 Crawford Street in Gardner, Massachusetts.
A level yard and detached two-car garage complement the property. The second-floor tenant is scheduled to move out on 08/31/2026, providing a defined change in occupancy for the next owner. The property is located at 34-36 Crawford Street in Gardner, Massachusetts.
Key Highlights
- 1,632‑square‑foot duplex built in 1922
- Separate utilities and circuit breakers for each unit
- New kitchens and renovated bathrooms
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
$22,061
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
4.80%
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%
$441,220
$441.2K
Cap Rate 7%
$315,157
$315.2K
Cap Rate 9%
$245,122
$245.1K
Market Conditions
NOI Build-Up for 1,632 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
$32.3K $19.80/SF
− Vacancy
−$798 −$0.49/SF
EGI
$31.5K $19.31/SF
− OpEx
−$9.5K −$5.79/SF
NOI
$22.1K $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%
$441,220
Cap Rate 7%
$315,157
Cap Rate 9%
$245,122
Alternative Uses
Best Use
Multifamily LT 5
$315.2K
$275.8K – $367.7K
NOI $22,061 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,199 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$557.3K
$487.6K – $650.2K
NOI $39,011 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 01440, MA
21,577
Population
9,600
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
24.5 sq mi
ZIP Area
881
Density / Sq Mi
$63,526
Median Household Income
$43,737
Median Earnings
$1,071
Median Rent
$270,500
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 - Separate utilities, updated systems, and a level yard support owner-occupant or rental use.
Where is this duplex located?
The property is located at 34-36 Crawford Street Gardner, MA.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 1,632‑square‑foot duplex built in 1922; Separate utilities and circuit breakers for each unit; New kitchens and renovated bathrooms
