Two-Unit Duplex with Fenced
New
For Sale
$349,900
340 Park St, Gardner, MA 01440
Corner-lot property includes off-street parking and multiple outbuildings.
Property Size1,750 SF
Price / SF$199.94
Days on Market2
Property Features for 340 Park St
General Information
Standard status
Active
Size
1,750 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R1
Net Operating Income
$15,600
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,872
Building Details
Building Size
1,750 SF
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty North Central
Listed By:
Gail Bergeron
(508) 868-6991
Source:
413realestate
Added: Oct 24
Last Checked: Oct 24 at 1:31PM
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 Keller Williams Realty North Central
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Investment Insights
Based on property information with market context.
This duplex contains two units, each with two bedrooms. Both have been updated within the past two years and maintained. The basement level offers a family room, laundry area, and half bath; the second-floor unit is also described with access to these spaces.
The property occupies a fenced corner lot with a yard and several outbuildings. Off-street parking is available, with access to Gardner amenities.
The property occupies a fenced corner lot with a yard and several outbuildings. Off-street parking is available, with access to Gardner amenities.
Key Highlights
- Two units, each with 2 bedrooms
- Both units updated within the past 2 years
- Basement level includes a family room, laundry, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,656
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,120
$473.1K
Cap Rate 7%
$337,943
$337.9K
Cap Rate 9%
$262,844
$262.8K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$34.7K $19.80/SF
− Vacancy
−$856 −$0.49/SF
EGI
$33.8K $19.31/SF
− OpEx
−$10.1K −$5.79/SF
NOI
$23.7K $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%
$473,120
Cap Rate 7%
$337,943
Cap Rate 9%
$262,844
Alternative Uses
Best Use
Multifamily LT 5
$337.9K
$295.7K – $394.3K
NOI $23,656 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$294.1K
$257.3K – $343.1K
NOI $20,587 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$597.6K
$522.9K – $697.2K
NOI $41,832 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
308
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot property includes off-street parking and multiple outbuildings.
Where is this duplex located?
The property is located at 340 Park St Gardner, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms; Both units updated within the past 2 years; Basement level includes a family room, laundry, and half bath
