Two-Unit Duplex with
For Sale
$474,900
Pending
45 Chestnut St, Athol, MA 01331
MULTI_FAMILY - Athol, MA
Property Size2,346 SF
Lot Size0.32 Acres
Days on Market49
Property Features for 45 Chestnut St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Parking
7
Elementary school
Athol Community Elementary
Middle school
Athol Middle School
High school
Athol High School
Directions
South Athol Rd to Morton St to Chestnut St
Standard status
Pending
APN
M:0025 B:0162 L:0000,4731453
Size
2,346 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4628
Building Details
Year built
2020
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 840-9000
Added: Jun 22
Changed: Aug 1
Last Checked: Aug 9 at 5:06PM
MLS# 73539889
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
45 Chestnut St in Athol, MA is a newer two-unit duplex built in 2020, offering flexible living and leasing options. The property totals 5 bedrooms and 3.5 bathrooms and includes a 1-car garage.
The main unit features an updated kitchen with stainless steel appliances and a slider to a back deck, with an open-concept layout flowing into the dining area. The home also provides a spacious living room, first-floor laundry, and a large primary suite with a walk-in closet and private bath.
The lower-level apartment offers a modern setup with stainless steel appliances, recessed lighting, in-unit laundry, and newer laminate flooring. The duplex sits on a 0.3214-acre lot and is zoned RA.
With 2,346 square feet of building area, this property is well suited for owner-occupants seeking rental support or for investors looking for a two-unit configuration.
The main unit features an updated kitchen with stainless steel appliances and a slider to a back deck, with an open-concept layout flowing into the dining area. The home also provides a spacious living room, first-floor laundry, and a large primary suite with a walk-in closet and private bath.
The lower-level apartment offers a modern setup with stainless steel appliances, recessed lighting, in-unit laundry, and newer laminate flooring. The duplex sits on a 0.3214-acre lot and is zoned RA.
With 2,346 square feet of building area, this property is well suited for owner-occupants seeking rental support or for investors looking for a two-unit configuration.
Key Highlights
- Duplex built in 2020
- Totals 5 bedrooms and 3.5 bathrooms across two units
- 1‑car garage
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
182
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
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Frequently Asked Questions
What type of property is this?
Duplex - Newer two-unit duplex with 5 bedrooms, 3.5 baths, in-unit laundry, and a 1-car garage in Athol.
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: Duplex built in 2020; Totals 5 bedrooms and 3.5 bathrooms across two units; 1‑car garage
