Duplex with Off-Street
For Sale
$299,900
Pending
48 Litchfield Ave, Southbridge, MA 01550
Two-level income property with one vacant unit and a second-floor tenant in place at will.
Property Size2,296 SF
Days on Market56
Property Features for 48 Litchfield Ave
General Information
Standard status
Pending
Size
2,296 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1917
Buildings
1
Listing Agency:
Paul Litchfield, Pm Litchfield Real Estate Services Inc
Listed By:
David Sampson Group
(617) 595-5082
Source:
Sampsonrealtygroup
Added: Aug 21
Changed: Oct 13
Last Checked: Oct 14 at 11:04PM
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 Paul Litchfield, Pm Litchfield Real Estate Services Inc
Investment Insights
Based on property information with market context.
Built in 1917, this 2,296-square-foot duplex includes two separate residential units. The first-floor apartment is expected to be vacant at delivery and has hardwood flooring, an updated pantry, and a tiled bathroom. The second-floor unit is occupied by a tenant who has been in place for 9 years under an at-will arrangement, and the unit has a new natural gas furnace.
The property includes off-street parking and natural gas utilities. It is situated near a hospital and a conservation area with walking and biking trails. The home has been owner-occupied for approximately 40 years.
The property includes off-street parking and natural gas utilities. It is situated near a hospital and a conservation area with walking and biking trails. The home has been owner-occupied for approximately 40 years.
Key Highlights
- 2,296‑square‑foot duplex built in 1917
- First‑floor unit expected to be vacant at delivery
- Second‑floor tenant has occupied the unit for 9 years at will
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,010
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,200
$540.2K
Cap Rate 7%
$385,857
$385.9K
Cap Rate 9%
$300,111
$300.1K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$50.4K $21.96/SF
− Vacancy
−$1.3K −$0.57/SF
EGI
$49.1K $21.39/SF
− OpEx
−$22.1K −$9.63/SF
NOI
$27.0K $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 Rate 5%
$540,200
Cap Rate 7%
$385,857
Cap Rate 9%
$300,111
Alternative Uses
Best Use
Multifamily LT 5
$443.4K
$388.0K – $517.3K
NOI $31,037 @ 7.0% cap · market cap 10.35%
Second Best
Apartment 5plus
$385.9K
$337.6K – $450.2K
NOI $27,010 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$784.1K
$686.1K – $914.7K
NOI $54,884 @ 7.0% cap · market cap 18.30%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
453
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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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 - Two-level income property with one vacant unit and a second-floor tenant in place at will.
Where is this duplex located?
The property is located at 48 Litchfield Ave Southbridge, MA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,296‑square‑foot duplex built in 1917; First‑floor unit expected to be vacant at delivery; Second‑floor tenant has occupied the unit for 9 years at will
