Two-Family Duplex with Enclosed
New
For Sale
$569,900
66 Plainfield Ave, Shrewsbury, MA 01545
Residential Income, Shrewsbury, MA
Property Size2,520 SF
Lot Size0.20 Acres
Price / SF$226.15
Days on Market4
Property Features for 66 Plainfield Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2
Parking
4
Directions
Rte 9 to Plainfield Ave, Shrewsbury
Standard status
Active
APN
M:0039 B:017000 L:0000,1680896
Size
2,520 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5329
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Vision · RE/MAX International
(508) 595-9900
Listed By:
Jeff Burk · License #9035530
(508) 826-3301
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# 73582417
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,520-square-foot duplex, built in 1922, contains two residences. The first-floor unit has an open living and dining area, a double-galley kitchen with breakfast bar, one bedroom, and a flexible adjoining room with two walk-in closets. Its full bathroom has a storage closet and laundry hookups, with additional basement storage and a separate laundry area. Upstairs, the layout includes two to three bedrooms, a dining room with built-ins, an updated full bathroom, and a living room opening to an enclosed front porch.
The property occupies 0.2015 acres and is zoned RB2. The listing notes proximity to 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 occupies 0.2015 acres and is zoned RB2. The listing notes proximity to 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 a 0.2015‑acre lot
- Built in 1922; zoned RB2
- First‑floor residence has one bedroom, a flexible adjoining 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
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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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer distinct bedroom layouts, flexible living areas, and storage suited to a range of household arrangements.
Where is this duplex located?
The property is located at 66 Plainfield Ave 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 a 0.2015‑acre lot; Built in 1922; zoned RB2; First‑floor residence has one bedroom, a flexible adjoining room, and two walk‑in closets
