Side-by-Side
For Sale
$649,900
Pending
4 Gates Ter, Sterling, MA 01564
Updated two-unit property with separate utilities and off-street parking.
Property Size2,624 SF
Days on Market148
Property Features for 4 Gates Ter
General Information
Standard status
Pending
Size
2,624 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
NR
Additional Details
Multifamily Units
2
Amenities
solar tracker system
Electric Dryer Hookup, Washer Hookup
Wood
Yes
Shingle
1.0
for Electric Range, for Electric Oven, for Electric Dryer, Washer Hookup
8
Building Details
Building Size
2,624 SF
Year Built
1900
Stories
6
Listing Agency:
eXp Realty
Listed By:
Isaac Dube
Source:
Reishomesearch
Added: Apr 6
Changed: Aug 29
Last Checked: Apr 22 at 11:01AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,624-square-foot duplex contains two side-by-side residential units within a property built in 1900. Both residences have updated interiors, generous room layouts, and strong natural light. Separate utility systems support distinct unit operations, while off-street parking adds practical convenience for occupants.
The property includes an owned solar tracker system, providing an additional on-site energy feature. Located at 4 Gates Terrace in Sterling, Massachusetts, the building offers a two-unit configuration suited to residential ownership or occupancy arrangements.
The property includes an owned solar tracker system, providing an additional on-site energy feature. Located at 4 Gates Terrace in Sterling, Massachusetts, the building offers a two-unit configuration suited to residential ownership or occupancy arrangements.
Key Highlights
- 2,624 SF duplex with two side‑by‑side residential units
- Updated interiors and spacious layouts in both units
- Separate utilities for each residence
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
$35,470
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
5.46%
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%
$709,400
$709.4K
Cap Rate 7%
$506,714
$506.7K
Cap Rate 9%
$394,111
$394.1K
Market Conditions
NOI Build-Up for 2,624 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
$52.0K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$50.7K $19.31/SF
− OpEx
−$15.2K −$5.79/SF
NOI
$35.5K $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%
$709,400
Cap Rate 7%
$506,714
Cap Rate 9%
$394,111
Alternative Uses
Best Use
Multifamily LT 5
$506.7K
$443.4K – $591.2K
NOI $35,470 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$441.0K
$385.9K – $514.5K
NOI $30,869 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$896.1K
$784.1K – $1.05M
NOI $62,724 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 01564, MA
7,985
Population
3,298
Households
2.4
Avg Household Size
48
Median Age
53%
College-Educated
95%
High-School Grad
30.6 sq mi
ZIP Area
261
Density / Sq Mi
$136,027
Median Household Income
$78,506
Median Earnings
$1,606
Median Rent
$467,400
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 - Updated two-unit property with separate utilities and off-street parking.
Where is this duplex located?
The property is located at 4 Gates Ter Sterling, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,624 SF duplex with two side‑by‑side residential units; Updated interiors and spacious layouts in both units; Separate utilities for each residence
