Building Details

Building Size 1,800 SF

Year Built 1890

Stories 6

Listing Agency: EXP Realty c***@churchillprop.com Show Phone

Listed By: Chris Bernier Show Phone

Source: Churchillprop

Added: Jun 9 Changed: Aug 8 Last Checked: Aug 9 at 6:23AM

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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 EXP Realty

Investment Insights

Based on property information with market context.

This 1,800-square-foot duplex, built in 1890, contains two side-by-side residential units. Each unit offers three bedrooms and 1.5 bathrooms, with functional layouts and off-street parking. Recent capital improvements include the roof, electrical and plumbing systems, windows, kitchens, bathrooms, insulation, heating systems, gutters, and solar panels.

The property is located at 621 Main St in Sturbridge, near Route 20, shopping, restaurants, and other local amenities. SR zoning supports the property’s established residential configuration. The completed system upgrades address several major building components and provide a detailed basis for evaluating the property’s ongoing physical condition.

Key Highlights

• Two side‑by‑side units, each with 3 bedrooms and 1.5 bathrooms
• 1,800 SF duplex built in 1890
• Recent updates to roof, electrical, plumbing, windows, kitchens, and bathrooms

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

$24,332

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

4.31%

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%

$486,640 $486.6K

Cap Rate 7%

$347,600 $347.6K

Cap Rate 9%

$270,356 $270.4K

Market Conditions

NOI Build-Up for 1,800 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

$35.6K $19.80/SF

− Vacancy

−$880 −$0.49/SF

EGI

$34.8K $19.31/SF

− OpEx

−$10.4K −$5.79/SF

NOI

$24.3K $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%

$486,640

Cap Rate 7%

$347,600

Cap Rate 9%

$270,356

Alternative Uses

Best Use

Multifamily LT 5

$347.6K

$304.2K – $405.5K (±1% cap)

NOI $24,332 @ 7.0% cap · market cap 4.31%

Second Best

Apartment 5plus

$302.5K

$264.7K – $352.9K (±1% cap)

NOI $21,175 @ 7.0% cap · market cap 3.75%

Theoretical Best

Office A

$614.7K

$537.8K – $717.1K (±1% cap)

NOI $43,027 @ 7.0% cap · market cap 7.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Dental Office Real Estate Agency Auto Repair Shop Auto Parts Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

164

Businesses Nearby

Explore this area Business Placement

Demographics for 01566, MA

6,691

Population

3,041

Households

2.2

Avg Household Size

46

Median Age

46%

College-Educated

95%

High-School Grad

25.0 sq mi

ZIP Area

268

Density / Sq Mi

$135,802

Median Household Income

$77,314

Median Earnings

$1,677

Median Rent

$393,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two side-by-side units offer updated systems, off-street parking, and three-bedroom layouts.

Where is this duplex located?

The property is located at 621 Main St Sturbridge, MA.

What is the asking price?

The asking price for this property is $564,995.

What are key features of this property?

This property features: Two side‑by‑side units, each with 3 bedrooms and 1.5 bathrooms; 1,800 SF duplex built in 1890; Recent updates to roof, electrical, plumbing, windows, kitchens, and bathrooms