Victorian Duplex on Acre
New
For Sale
$249,900
39 Summer Street, Athol, MA 01331
Two-unit Victorian property with an attached garage and an approved single-family project package.
Property Size1,875 SF
Lot Size1.00 Acre
Price / SF$133.28
Days on Market7
Property Features for 39 Summer Street
General Information
Standard status
Active
Size
1,875 SF
Lot size
1.00 Acre
Property subtype
Multi-family
Lease Term
[]
Property Condition
Severity
Repairs Needed
Evidence
waiting to be restored
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1905
Buildings
1
Construction
Victorian
Listing Agency:
RPA Realty
Listed By:
Sergio Resende
(508) 494-5171
Source:
Foster-healey
Added: Sep 5
Changed: Sep 10
Last Checked: Sep 9 at 2:37PM
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 RPA Realty
Investment Insights
Based on property information with market context.
Built in 1905, this Victorian duplex contains two bedrooms and one bathroom in each unit, with an attached garage and six driveway parking spaces. The property encompasses 1 acre and has 1,875 of stated property size. Interior demolition is underway, and framing has begun as part of an incomplete conversion to a single-family residence.
An approved single-family project package is included, providing an established direction for completing the conversion. The property is located at 39 Summer St in Athol, Massachusetts.
An approved single-family project package is included, providing an established direction for completing the conversion. The property is located at 39 Summer St in Athol, Massachusetts.
Key Highlights
- 1‑acre lot with an attached garage
- Duplex configuration with 2 bedrooms and 1 bath per unit
- 6 driveway parking spaces
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
$22,057
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
8.83%
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%
$441,140
$441.1K
Cap Rate 7%
$315,100
$315.1K
Cap Rate 9%
$245,078
$245.1K
Market Conditions
NOI Build-Up for 1,875 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
$41.2K $21.96/SF
− Vacancy
−$1.1K −$0.57/SF
EGI
$40.1K $21.39/SF
− OpEx
−$18.0K −$9.63/SF
NOI
$22.1K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$441,140
Cap Rate 7%
$315,100
Cap Rate 9%
$245,078
Alternative Uses
Best Use
Multifamily LT 5
$362.1K
$316.8K – $422.4K
NOI $25,346 @ 7.0% cap · market cap 10.14%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.6K
NOI $22,057 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$640.3K
$560.3K – $747.0K
NOI $44,820 @ 7.0% cap · market cap 17.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
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Business Placement
Demographics for 01331, MA
13,656
Population
6,050
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
54.2 sq mi
ZIP Area
252
Density / Sq Mi
$68,345
Median Household Income
$42,132
Median Earnings
$1,041
Median Rent
$257,300
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-unit Victorian property with an attached garage and an approved single-family project package.
Where is this duplex located?
The property is located at 39 Summer Street Athol, MA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1‑acre lot with an attached garage; Duplex configuration with 2 bedrooms and 1 bath per unit; 6 driveway parking spaces
