Two-Unit Duplex with
For Sale
$474,900
Pending
45 Chestnut St, Athol, MA 01331
Newer construction includes stainless-steel appliances and laundry in both residences.
Property Size2,346 SF
Days on Market70
Property Features for 45 Chestnut St
General Information
Standard status
Pending
Size
2,346 SF
Total Parking Spaces
1
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Amenities
stainless steel appliances
deck
in-unit laundry
open-concept layout
recessed lighting
laminate flooring
Building Details
Year Built
2020
Listing Agency:
Keller Williams Realty North Central
(978) 424-1191
Listed By:
Joseph Paoletti · License #9557366
(978) 424-1191
Source:
Lockandkeyre
Added: Jun 22
Changed: Aug 30
Last Checked: Aug 30 at 3:37AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
Built in 2020, this 2,346-square-foot duplex contains two residences with a combined 5 bedrooms and 3.5 bathrooms. The main unit offers an open living and dining arrangement, an updated kitchen with stainless-steel appliances, a back deck accessed through a slider, first-floor laundry, and a primary suite with a walk-in closet and private bath. The lower-level apartment includes stainless-steel appliances, recessed lighting, newer laminate flooring, and in-unit laundry. A 1-car garage serves the property.
The property is located in a quiet neighborhood in Athol, Massachusetts, and its two-unit configuration supports multiple occupancy arrangements, including owner use, rental occupancy, or multigenerational living.
The property is located in a quiet neighborhood in Athol, Massachusetts, and its two-unit configuration supports multiple occupancy arrangements, including owner use, rental occupancy, or multigenerational living.
Key Highlights
- Two‑unit duplex built in 2020
- 2,346 square feet with 5 bedrooms and 3.5 bathrooms
- Main residence includes updated kitchen, back deck, first‑floor laundry, and primary suite
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
$31,712
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
6.68%
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%
$634,240
$634.2K
Cap Rate 7%
$453,029
$453.0K
Cap Rate 9%
$352,356
$352.4K
Market Conditions
NOI Build-Up for 2,346 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
$46.5K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$45.3K $19.31/SF
− OpEx
−$13.6K −$5.79/SF
NOI
$31.7K $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%
$634,240
Cap Rate 7%
$453,029
Cap Rate 9%
$352,356
Alternative Uses
Best Use
Multifamily LT 5
$453.0K
$396.4K – $528.5K
NOI $31,712 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$394.3K
$345.0K – $460.0K
NOI $27,598 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$801.1K
$701.0K – $934.7K
NOI $56,079 @ 7.0% cap · market cap 11.81%
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
157
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Newer construction includes stainless-steel appliances and laundry in both residences.
Where is this duplex located?
The property is located at 45 Chestnut St Athol, MA.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two‑unit duplex built in 2020; 2,346 square feet with 5 bedrooms and 3.5 bathrooms; Main residence includes updated kitchen, back deck, first‑floor laundry, and primary suite
