Two-Unit Duplex with Fenced
New
For Sale
$409,999
457 Charlton St, Southbridge, MA 01550
Residential Income, Southbridge, MA
Property Size2,160 SF
Lot Size0.11 Acres
Price / SF$189.81
Days on Market3
Property Features for 457 Charlton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
Parking
4
Elementary school
Doe
Middle school
Doe
High school
Doe
Directions
From rt 20, Southbridge rd to Worcester st,left on Vinton then right onto Charlton St.
Standard status
Active
APN
M:0015 B:0108 L:00001,3976576
Size
2,160 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4995
Building Details
Year built
1985
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Pinnacle Central · Keller Williams Realty
Listed By:
Sarah Gustafson
(508) 754-3020
Added: Sep 22
Last Checked: Sep 24 at 2:06PM
MLS# 73580861
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.
This 2,160-square-foot duplex in Southbridge was built in 1985 and contains two residential units, each with two bedrooms, a kitchen, dining or seating area, bathroom, and substantial closet storage. Separate egress doors provide independent access to the first and second floors, while the first-floor unit includes a large living room and access to a full open-layout cellar. Updated flooring extends through both units.
The property occupies 0.11 acres at 457 Charlton St and includes an open driveway, walkways on both sides of the house, and a low-maintenance front lawn. A walk-out bulkhead connects the cellar to the backyard, which is bordered by woods and enclosed along the sides and rear. Zoning is R2.
The property occupies 0.11 acres at 457 Charlton St and includes an open driveway, walkways on both sides of the house, and a low-maintenance front lawn. A walk-out bulkhead connects the cellar to the backyard, which is bordered by woods and enclosed along the sides and rear. Zoning is R2.
Key Highlights
- Two‑unit duplex with 2,160 square feet of property size
- Each unit includes 2 bedrooms and separate egress access
- Built in 1985 on a 0.11‑acre parcel
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
$29,198
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
7.12%
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%
$583,960
$584.0K
Cap Rate 7%
$417,114
$417.1K
Cap Rate 9%
$324,422
$324.4K
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
$42.8K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$41.7K $19.31/SF
− OpEx
−$12.5K −$5.79/SF
NOI
$29.2K $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%
$583,960
Cap Rate 7%
$417,114
Cap Rate 9%
$324,422
Alternative Uses
Best Use
Multifamily LT 5
$417.1K
$365.0K – $486.6K
NOI $29,198 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$363.0K
$317.6K – $423.5K
NOI $25,410 @ 7.0% cap · market cap 6.20%
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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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property offers two bedrooms per unit, separate entrances, and shared outdoor space.
Where is this duplex 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: Two‑unit duplex with 2,160 square feet of property size; Each unit includes 2 bedrooms and separate egress access; Built in 1985 on a 0.11‑acre parcel
