Two-Unit Residential Income
For Sale
$599,900
Pending
4 Elm Street, Oxford, MA 01540
Duplex-style property with a main house and a separate apartment, offering multiple reconfiguration options.
Property Size2,622 SF
Days on Market48
Property Features for 4 Elm Street
General Information
Standard status
Pending
Size
2,622 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
R3
Taxes and HOA fees
Annual Taxes
$5,766
Building Details
Building Size
2,622 SF
Year Built
1877
Stories
3
Units
2
Listing Agency:
Kevin O'Connor Real Estate Professionals, Inc.
Listed By:
Kevin O Connor
(508) 509-3825
Source:
Threehillsres
Added: Jul 20
Changed: Aug 8
Last Checked: Jul 28 at 6:30PM
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 Kevin O'Connor Real Estate Professionals, Inc.
Investment Insights
Based on property information with market context.
This unique two-unit residential income property includes a main house with 8 rooms, 4 bedrooms, a formal dining room, a large living room, a den/office, and a laundry room. The second residence is a separate apartment with 4 rooms and 1 bedroom. The apartment layout can be reconfigured to create 2 bedrooms. Hardwood floors run through much of both the home and apartment.
Recent updates include a roof installed approximately 6 years ago, siding installed approximately 12 years ago, and windows installed approximately 10 years ago. Outside, there is a composite porch that overlooks a very large side yard and back yard.
The property is described as being minutes to I-395 and other major routes, and it is walkable to downtown events, including events at the Bandstand.
Recent updates include a roof installed approximately 6 years ago, siding installed approximately 12 years ago, and windows installed approximately 10 years ago. Outside, there is a composite porch that overlooks a very large side yard and back yard.
The property is described as being minutes to I-395 and other major routes, and it is walkable to downtown events, including events at the Bandstand.
Key Highlights
- Built in 1877 with duplex‑style setup: a main house plus a separate 1‑bedroom apartment.
- Main house offers 4 bedrooms, 8 rooms total, including formal dining room, large living room, den/office, and laundry room.
- Apartment features 4 rooms and 1 bedroom, with layout that can be reconfigured to create 2 bedrooms.
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
$35,443
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
5.91%
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%
$708,860
$708.9K
Cap Rate 7%
$506,329
$506.3K
Cap Rate 9%
$393,811
$393.8K
Market Conditions
NOI Build-Up for 2,622 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
$51.9K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$50.6K $19.31/SF
− OpEx
−$15.2K −$5.79/SF
NOI
$35.4K $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%
$708,860
Cap Rate 7%
$506,329
Cap Rate 9%
$393,811
Alternative Uses
Best Use
Multifamily LT 5
$506.3K
$443.0K – $590.7K
NOI $35,443 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$440.6K
$385.6K – $514.1K
NOI $30,845 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$895.4K
$783.5K – $1.04M
NOI $62,676 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 01540, MA
11,032
Population
4,337
Households
2.5
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
19.1 sq mi
ZIP Area
578
Density / Sq Mi
$118,389
Median Household Income
$52,248
Median Earnings
$1,135
Median Rent
$346,000
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 - Duplex-style property with a main house and a separate apartment, offering multiple reconfiguration options.
Where is this duplex located?
The property is located at 4 Elm Street Oxford, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Built in 1877 with duplex‑style setup: a main house plus a separate 1‑bedroom apartment.; Main house offers 4 bedrooms, 8 rooms total, including formal dining room, large living room, den/office, and laundry room.; Apartment features 4 rooms and 1 bedroom, with layout that can be reconfigured to create 2 bedrooms.
