Duplex with Private
54 Grace Lane, Southbridge, MA 01550
For Sale
$474,900
Both apartments are vacant, with two bedrooms and one full bath in each.
Property Size2,055 SF
Price / SF$231.09
Days on Market8
Property Features for 54 Grace Lane
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
private deck
fenced-in backyard
partially finished basement
dedicated laundry area
Building Details
Year Built
Buildings
Listing Agency:
Real Broker MA,LLC
Listed By:
Jim Black Group
(314) 325-6474
Source:
Parksquarerealty
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 8 at 6:12AM
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 Real Broker MA,LLC
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Investment Insights
Based on property information with market context.
Built in 1977, this 2,055-square-foot duplex contains two vacant apartments, each with two bedrooms, a full bathroom, living room, kitchen, and private deck. Interior work includes fresh paint, updated plumbing fixtures, and kitchen and bathroom improvements. The first-floor unit has new cabinetry, hardware, and wood-style vinyl flooring; the upper apartment features hardwood floors, new kitchen flooring, and a renovated bathroom with a new tub, shower, and vanity.
The property also has all-new windows, siding, and exterior doors, along with refreshed front and rear decks. A partially finished basement includes a laundry area and space for recreation or storage. A high-efficiency wall-hung propane boiler was installed in 2018. The home sits at the end of a dead-end road and has a fenced backyard. Zoning is R1.
The property also has all-new windows, siding, and exterior doors, along with refreshed front and rear decks. A partially finished basement includes a laundry area and space for recreation or storage. A high-efficiency wall-hung propane boiler was installed in 2018. The home sits at the end of a dead-end road and has a fenced backyard. Zoning is R1.
Key Highlights
- Two vacant apartments, each with 2 bedrooms, 1 full bath, living room, kitchen, and private deck
- 2,055‑square‑foot duplex built in 1977
- First‑floor kitchen updated with new cabinetry, hardware, and wood‑style vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,779
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,580
$555.6K
Cap Rate 7%
$396,843
$396.8K
Cap Rate 9%
$308,656
$308.7K
Market Conditions
NOI Build-Up for 2,055 SF
Gross rent
$40.7K $19.80/SF
− Vacancy
−$1.0K −$0.49/SF
EGI
$39.7K $19.31/SF
− OpEx
−$11.9K −$5.79/SF
NOI
$27.8K $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 Rate 5%
$555,580
Cap Rate 7%
$396,843
Cap Rate 9%
$308,656
Alternative Uses
Best Use
Multifamily LT 5
$396.8K
$347.2K – $463.0K
NOI $27,779 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$345.4K
$302.2K – $402.9K
NOI $24,175 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$701.8K
$614.0K – $818.7K
NOI $49,123 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
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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
$267,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Worcester County, MA
Properties on Market for Duplexes in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are vacant, with two bedrooms and one full bath in each.
Where is this duplex located?
The property is located at 54 Grace Lane Southbridge, MA.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two vacant apartments, each with 2 bedrooms, 1 full bath, living room, kitchen, and private deck; 2,055‑square‑foot duplex built in 1977; First‑floor kitchen updated with new cabinetry, hardware, and wood‑style vinyl flooring
