Residential Income Property with Ductless
New
For Sale
$409,999
457 Charlton St, Southbridge, MA 01550
Ductless systems serve the property, which also includes a pantry and a fenced exterior.
Property Size2,160 SF
Price / SF$189.81
Days on Market6
Property Features for 457 Charlton St
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R2
Net Operating Income
$9,600
Taxes and HOA fees
Annual Taxes
$4,995
Amenities
Sidewalks
Ductless, Multi Units
Ductless
Full, Sump Pump, Concrete
Range, Dishwasher, Refrigerator, Washer, Dryer, Electric Water Heater
Pantry
Fenced
Paved, Off Street
Building Details
Building Size
2,160 SF
Year Built
1985
Stories
2
Listed By:
Christopher Erickson
(774) 230-3914
Source:
Evrealestate
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 26 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 Christopher Erickson
Investment Insights
Based on property information with market context.
Built in 1985, this residential income property has ductless systems, a pantry, and a full basement with a sump pump and concrete construction. A range, dishwasher, refrigerator, washer, dryer, and electric water heater are included. The property size is listed as 2,160, and the zoning designation is R2.
The exterior is fenced, with paved off-street parking at 457 Charlton St in Southbridge. Interior and exterior features support a range of practical residential configurations without specifying a unit count.
The exterior is fenced, with paved off-street parking at 457 Charlton St in Southbridge. Interior and exterior features support a range of practical residential configurations without specifying a unit count.
Key Highlights
- Built in 1985
- R2 zoning
- Ductless systems, including multiple units
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
$25,410
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
6.20%
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%
$508,200
$508.2K
Cap Rate 7%
$363,000
$363.0K
Cap Rate 9%
$282,333
$282.3K
Market Conditions
NOI Build-Up for 2,160 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
$47.4K $21.96/SF
− Vacancy
−$1.2K −$0.57/SF
EGI
$46.2K $21.39/SF
− OpEx
−$20.8K −$9.63/SF
NOI
$25.4K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$508,200
Cap Rate 7%
$363,000
Cap Rate 9%
$282,333
Alternative Uses
Best Use
Apartment 5plus
$363.0K
$317.6K – $423.5K
NOI $25,410 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$737.6K
$645.4K – $860.6K
NOI $51,633 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ductless systems serve the property, which also includes a pantry and a fenced exterior.
Where is this residential income property located?
The property is located at 457 Charlton St Southbridge, MA.
What is the asking price?
The asking price for this property is $409,999.
What are key features of this property?
This property features: Built in 1985; R2 zoning; Ductless systems, including multiple units
