Corner-Lot Two-Family
For Sale
$479,900
Pending
51 New Boston Rd, Dudley, MA 01571
Well maintained duplex on a corner lot with separate heating and electrical services for each unit.
Property Size2,052 SF
Days on Market47
Property Features for 51 New Boston Rd
General Information
Standard status
Pending
Size
2,052 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Building Size
2,052 SF
Year Built
1948
Listing Agency:
RE/MAX Bell Park Realty
(860) 774-7600
Listed By:
Jared Meehan · License #9525853
(508) 561-0249
Source:
Iverty
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 4 at 6:34AM
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 RE/MAX Bell Park Realty
Investment Insights
Based on property information with market context.
This well maintained two-family residence is set on a spacious corner lot and designed for easier separation of services. Each unit has its own parking area, along with separate heating systems and separate electrical services. The first floor includes 3 bedrooms and 1 full bath, with mostly hardwood flooring throughout. The second floor offers 2 bedrooms and 1 full bath, also with mostly hardwood flooring.
A detached 2-car garage adds storage and workshop flexibility, with a drive-under garage providing additional space for storage. The generous yard offers outdoor room for recreation and everyday use.
The property is offered for sale and can support a range of occupancy or investment needs, including owner occupancy and rental use.
A detached 2-car garage adds storage and workshop flexibility, with a drive-under garage providing additional space for storage. The generous yard offers outdoor room for recreation and everyday use.
The property is offered for sale and can support a range of occupancy or investment needs, including owner occupancy and rental use.
Key Highlights
- Well maintained 2‑family duplex on a corner lot in Dudley, built in 1948
- Each unit has its own parking area, separate heating systems, and separate electrical services
- First‑floor unit: 3 bedrooms and 1 full bath, with mostly hardwood flooring
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
$27,738
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
5.78%
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%
$554,760
$554.8K
Cap Rate 7%
$396,257
$396.3K
Cap Rate 9%
$308,200
$308.2K
Market Conditions
NOI Build-Up for 2,052 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
$40.6K $19.80/SF
− Vacancy
−$1.0K −$0.49/SF
EGI
$39.6K $19.31/SF
− OpEx
−$11.9K −$5.79/SF
NOI
$27.7K $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%
$554,760
Cap Rate 7%
$396,257
Cap Rate 9%
$308,200
Alternative Uses
Best Use
Multifamily LT 5
$396.3K
$346.7K – $462.3K
NOI $27,738 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$344.9K
$301.8K – $402.3K
NOI $24,140 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$700.7K
$613.1K – $817.5K
NOI $49,051 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 01571, MA
11,921
Population
4,295
Households
2.8
Avg Household Size
40
Median Age
25%
College-Educated
92%
High-School Grad
20.8 sq mi
ZIP Area
573
Density / Sq Mi
$85,179
Median Household Income
$43,232
Median Earnings
$1,188
Median Rent
$372,400
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 - Well maintained duplex on a corner lot with separate heating and electrical services for each unit.
Where is this duplex located?
The property is located at 51 New Boston Rd Dudley, MA.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Well maintained 2‑family duplex on a corner lot in Dudley, built in 1948; Each unit has its own parking area, separate heating systems, and separate electrical services; First‑floor unit: 3 bedrooms and 1 full bath, with mostly hardwood flooring
