Townhouse-Style Duplex with Updated
New
For Sale
$499,000
42-44 Grove St, Clinton, MA 01510
Two vacant units offer flexible owner-occupant or rental use with separate utilities and off-street parking.
Property Size2,790 SF
Price / SF$178.85
Days on Market4
Property Features for 42-44 Grove St
General Information
Standard status
Active
Size
2,790 SF
Property subtype
2 Family - 2 Units Side by Side
Units
Unit Mix
1 x 2BR+bonus, 1 x 2BR
Multifamily Units
2
Amenities
farmer's front porch
formal dining areas
finished laundry rooms
updated baths
hardwood and vinyl plank flooring
natural gas heat
separate utilities
off-street parking
Building Details
Year Built
1900
Listing Agency:
REMAX Executive Realty
(978) 807-7784
Listed By:
The Journey Group
(978) 807-7784
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 4:19AM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This 2,790-square-foot duplex contains two townhouse-style residences, both scheduled for delivery vacant and ready for occupancy. One unit includes two upper-level bedrooms and a finished lower-level bonus room that can serve as a third bedroom or office; the other provides two bedrooms. Property features include newer kitchens with cathedral ceilings, granite counters, stainless steel appliances, and white cabinetry, along with formal dining areas, finished laundry rooms, updated baths, and hardwood and vinyl plank flooring. Natural gas heat, separate utilities, and off-street parking support practical operation.
Built in 1900, the property is located at 42-44 Grove St in Clinton, Massachusetts, a short distance from Wachusett Reservoir. The configuration accommodates either an owner-occupant arrangement with one residence rented or leasing both units.
Built in 1900, the property is located at 42-44 Grove St in Clinton, Massachusetts, a short distance from Wachusett Reservoir. The configuration accommodates either an owner-occupant arrangement with one residence rented or leasing both units.
Key Highlights
- 2,790‑square‑foot duplex with two townhouse‑style units
- Both residences delivered vacant and ready for occupancy
- One unit has 2 bedrooms plus a finished lower‑level bonus room
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
$37,714
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
7.56%
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%
$754,280
$754.3K
Cap Rate 7%
$538,771
$538.8K
Cap Rate 9%
$419,044
$419.0K
Market Conditions
NOI Build-Up for 2,790 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
$55.2K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$53.9K $19.31/SF
− OpEx
−$16.2K −$5.79/SF
NOI
$37.7K $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 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%
$754,280
Cap Rate 7%
$538,771
Cap Rate 9%
$419,044
Alternative Uses
Best Use
Multifamily LT 5
$538.8K
$471.4K – $628.6K
NOI $37,714 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$468.9K
$410.3K – $547.0K
NOI $32,821 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$952.7K
$833.7K – $1.11M
NOI $66,692 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
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 - Two vacant units offer flexible owner-occupant or rental use with separate utilities and off-street parking.
Where is this duplex located?
The property is located at 42-44 Grove St Clinton, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,790‑square‑foot duplex with two townhouse‑style units; Both residences delivered vacant and ready for occupancy; One unit has 2 bedrooms plus a finished lower‑level bonus room
