Owner-Occupant
New
For Sale
$335,000
48 Litchfield Ave, Southbridge, MA 01550
Residential Income, Southbridge, MA
Property Size2,296 SF
Lot Size0.17 Acres
Price / SF$145.91
Days on Market4
Property Features for 48 Litchfield Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
4
Elementary school
Dept Of Ed
Middle school
Dept Of Ed
High school
Dept Of Ed
Directions
GPS
Standard status
Active
APN
M:0052 B:0041 L:00001,3979321
Size
2,296 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5112
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Prof Associates · RE/MAX International
(508) 347-9595
Listed By:
Lorraine Herbert
(508) 347-9595
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 20 at 12:06PM
MLS# 73564726
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 R2-zoned duplex contains 2,296 square feet on a 0.17-acre lot and was built in 1917. The first-floor residence is expected to be vacant at closing and includes hardwood flooring, an updated pantry, and a tiled bathroom. Upstairs, a newer natural gas furnace serves the second unit, which has been occupied by the same tenant for 9 years on an at-will arrangement.
The property includes off-street parking and natural gas service. Its Southbridge setting places the home near a hospital and a conservation area with walking and biking trails. The two-unit layout supports an owner-occupant arrangement while retaining an existing residential tenancy.
The property includes off-street parking and natural gas service. Its Southbridge setting places the home near a hospital and a conservation area with walking and biking trails. The two-unit layout supports an owner-occupant arrangement while retaining an existing residential tenancy.
Key Highlights
- 2,296‑square‑foot duplex on a 0.17‑acre lot
- R2 zoning; constructed in 1917
- First‑floor unit expected to be vacant at closing
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
$27,010
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
8.06%
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%
$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
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
$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 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%
$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 9.26%
Second Best
Apartment 5plus
$385.9K
$337.6K – $450.2K
NOI $27,010 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$784.1K
$686.1K – $914.7K
NOI $54,884 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
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
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 - Two-unit property with one residence available for occupancy and an established second-floor tenancy.
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 $335,000.
What are key features of this property?
This property features: 2,296‑square‑foot duplex on a 0.17‑acre lot; R2 zoning; constructed in 1917; First‑floor unit expected to be vacant at closing
