Updated Two-Family
For Sale
$524,990
556 Church St, Northbridge, MA 01588
Updated two-family home with modern finishes, in-unit laundry, and a walk-in/out basement offering storage.
Property Size2,736 SF
Price / SF$191.88
Days on Market78
Property Features for 556 Church St
General Information
Standard status
Active
Size
2,736 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
res
Net Operating Income
$22,200
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,035
Amenities
shared fire pit
Building Details
Building Size
2,736 SF
Year Built
1900
Stories
2
Listing Agency:
Weichert REALTORS, Hope & Associates
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 10
Changed: Aug 25
Last Checked: Aug 25 at 5:29AM
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 Weichert REALTORS, Hope & Associates
Investment Insights
Based on property information with market context.
This updated two-family residence features two separate units. The vacant unit includes stainless steel appliances, granite countertops, modern cabinets, a formal dining area open to the living room, a separate laundry room, three bedrooms, and a full bath. The rented unit has an updated eat-in kitchen with a large walk-in pantry, a spacious living room, a separate laundry closet, a full bath, and three bedrooms.
The property includes a walk-in/out basement that was previously used as a storefront and is currently well-suited for storage. The large flat backyard offers a shared fire pit and additional flat outdoor space for entertaining or recreation. Off-street parking via driveway provides space for up to eight cars.
Showings are scheduled to begin Saturday 6/13.
The property includes a walk-in/out basement that was previously used as a storefront and is currently well-suited for storage. The large flat backyard offers a shared fire pit and additional flat outdoor space for entertaining or recreation. Off-street parking via driveway provides space for up to eight cars.
Showings are scheduled to begin Saturday 6/13.
Key Highlights
- Updated 2‑family home with modern finishes for owner‑occupants and a rented unit
- Vacant unit features stainless steel appliances, granite countertops, modern cabinets, formal dining, and 3 bedrooms plus a full bath
- Rented unit includes an updated eat‑in kitchen, large walk‑in pantry, 3 bedrooms, and a full bath
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
$36,984
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
7.04%
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%
$739,680
$739.7K
Cap Rate 7%
$528,343
$528.3K
Cap Rate 9%
$410,933
$410.9K
Market Conditions
NOI Build-Up for 2,736 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
$54.2K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$52.8K $19.31/SF
− OpEx
−$15.9K −$5.79/SF
NOI
$37.0K $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%
$739,680
Cap Rate 7%
$528,343
Cap Rate 9%
$410,933
Alternative Uses
Best Use
Multifamily LT 5
$528.3K
$462.3K – $616.4K
NOI $36,984 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$459.8K
$402.3K – $536.4K
NOI $32,186 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$934.3K
$817.5K – $1.09M
NOI $65,401 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Explore this area
Business Placement
Demographics for 01588, MA
10,106
Population
4,553
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
1,248
Density / Sq Mi
$88,735
Median Household Income
$50,855
Median Earnings
$1,263
Median Rent
$413,600
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 - Updated two-family home with modern finishes, in-unit laundry, and a walk-in/out basement offering storage.
Where is this duplex located?
The property is located at 556 Church St Northbridge, MA.
What is the asking price?
The asking price for this property is $524,990.
What are key features of this property?
This property features: Updated 2‑family home with modern finishes for owner‑occupants and a rented unit; Vacant unit features stainless steel appliances, granite countertops, modern cabinets, formal dining, and 3 bedrooms plus a full bath; Rented unit includes an updated eat‑in kitchen, large walk‑in pantry, 3 bedrooms, and a full bath
