Two-Unit Duplex with Enclosed
New
For Sale
$569,900
66 Plainfield Avenue, Shrewsbury, MA 01545
Two separate residences offer flexible layouts, including a first-floor unit with an additional room and two walk-in closets.
Property Size2,520 SF
Price / SF$226.15
Days on Market5
Property Features for 66 Plainfield Avenue
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
enclosed front porch
Building Details
Year Built
1922
Buildings
1
Listing Agency:
RE/MAX Vision
Listed By:
Colleen Griffin · License #9063104
(508) 439-3002
Source:
Sredboston
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 8:08AM
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 Vision
Investment Insights
Based on property information with market context.
At 66 Plainfield Ave in Shrewsbury, this 2,520-square-foot duplex was built in 1922 and is zoned RB2. The first-floor residence has an open living and dining area, a double galley kitchen with breakfast bar, one bedroom, and an extra room with two walk-in closets. Its full bath includes laundry hookups, with additional laundry space and storage in the basement. The upper residence has two to three bedrooms, a dining room with built-ins, a full bath, and a living room that opens to an enclosed front porch.
The property is minutes from a highway and UMass Memorial Medical Center. Improvements include a roof and oil tanks installed in 2021, plus a washer and dryer added in 2025.
The property is minutes from a highway and UMass Memorial Medical Center. Improvements include a roof and oil tanks installed in 2021, plus a washer and dryer added in 2025.
Key Highlights
- 2,520‑square‑foot duplex on Plainfield Ave in Shrewsbury
- Built in 1922; zoned RB2
- First‑floor unit includes one bedroom, a flexible additional room, and two walk‑in closets
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
$34,064
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
5.98%
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%
$681,280
$681.3K
Cap Rate 7%
$486,629
$486.6K
Cap Rate 9%
$378,489
$378.5K
Market Conditions
NOI Build-Up for 2,520 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
$49.9K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$48.7K $19.31/SF
− OpEx
−$14.6K −$5.79/SF
NOI
$34.1K $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%
$681,280
Cap Rate 7%
$486,629
Cap Rate 9%
$378,489
Alternative Uses
Best Use
Multifamily LT 5
$486.6K
$425.8K – $567.7K
NOI $34,064 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$423.5K
$370.6K – $494.1K
NOI $29,645 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$860.5K
$753.0K – $1.00M
NOI $60,238 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 01545, MA
38,316
Population
15,318
Households
2.5
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
1,842
Density / Sq Mi
$136,225
Median Household Income
$74,718
Median Earnings
$2,046
Median Rent
$555,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate residences offer flexible layouts, including a first-floor unit with an additional room and two walk-in closets.
Where is this duplex located?
The property is located at 66 Plainfield Avenue Shrewsbury, MA.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: 2,520‑square‑foot duplex on Plainfield Ave in Shrewsbury; Built in 1922; zoned RB2; First‑floor unit includes one bedroom, a flexible additional room, and two walk‑in closets
