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    Two-Family Duplex Residence Title is generated by Realmo AI

    41-43 Highland Avenue, Chelmsford, MA 01863

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    For Sale
    $725,000

    MULTI_FAMILY - Other - Chelmsford, MA

    Property size:
    1,960 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $369/SF
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 41-43 Highland Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RC
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Basement, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2
    Parking features
    Carport
    Patio and Porch features
    Porch
    Exterior features
    Garden Space, Covered Porch, Enclosed Porch, Shed, Storage
    Standard status
    Active
    Size
    1,960 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6872

    Utilities

    Heating system
    Baseboard, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl, Wood, Carpet, Tile
    Building materials
    Wood Frame
    Roof type
    Tar/Gravel
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Ashima Scripp

    Listing agent Ashima Scripp

    Listing office Coldwell Banker Realty Nashua 569B Amherst St., Bedford, MA

    Listing date May 28, 2026

    MLS# 5091592 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2‑family home built in 1920 with wood‑frame construction
    • Shared living and dining spaces plus sunny bedrooms; hardwood floors noted in both units
    • Main floor unit includes an updated kitchen and generous bath
    • Second‑floor unit has a second kitchen that could be expanded or eliminated to create more shared space
    • Screened porch, covered/enclosed porch, carport parking, and garden space
    • Basement includes lots of storage plus a shed; public water service; tar/gravel roof

    Overview

    This two-family duplex offers two separate living spaces within a single home. Both units feature hardwood floors, generous living and dining rooms, and sunny bedrooms, with shared closet space in the main living area. The main floor unit includes an updated kitchen and a generous bath. Upstairs, the second unit is described as being in great shape throughout and includes a second kitchen, which could be expanded or eliminated to create more shared space depending on how you want to use the home.

    The property includes an accessible entry point, a screened porch, a carport, and substantial basement storage, with an additional shed for extra belongings. It sits on a 0.12-acre lot and totals 1,960 square feet.

    Designed for flexible ownership, this home can support an owner-occupant looking to offset costs by renting one portion, or a multi-generational setup that values separate living areas while staying connected. The configuration also allows options around how the upstairs kitchen is used, making it practical for tenants or buyers seeking a duplex that can be tailored to the household’s needs. Zoning is listed as RC.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $62.3k $31.80
    − Vacancy −$3.1k −$1.57
    EGI $59.2k $30.23
    − OpEx −$17.8k −$9.07
    NOI $41.5k $21.16
    1,960 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $592.5K
    $518.4K – $691.2K (±1% cap)
    NOI $41,474 @ 7.0% cap · market cap 5.72%
    Second Best
    Apartment 5plus
    $557.1K
    $487.5K – $650.0K (±1% cap)
    NOI $38,997 @ 7.0% cap · market cap 5.38%
    Theoretical Best
    Office A
    $1.16M
    $1.02M – $1.35M (±1% cap)
    NOI $81,222 @ 7.0% cap · market cap 11.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Chelmsford
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.37584599
    Latitude
    42.633992

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    FAQs

    What type of property is this?
    Duplex - Charming two-unit duplex with hardwood floors, generous rooms, and a screened porch plus carport and storage.
    Where is this duplex located?
    The property is located at 41-43 Highland Avenue Chelmsford, MA.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: 2‑family home built in 1920 with wood‑frame construction; Shared living and dining spaces plus sunny bedrooms; hardwood floors noted in both units; Main floor unit includes an updated kitchen and generous bath
    (603) 848-9559
    We can help!
    Listing Contact
    Ashima Scripp
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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