Renovated Two-Family
New
For Sale
$554,995
67-69 Main, Pepperell, MA 01463
Renovated two-unit property with off-street parking and flexible occupancy options.
Property Size2,318 SF
Days on Market2
Property Features for 67-69 Main
General Information
Standard status
Active
Size
2,318 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,002
Amenities
off-street parking
Building Details
Building Size
2,318 SF
Year Built
1880
Buildings
1
Stories
2
Units
2
Listing Agency:
eXp Realty LLC
(774) 285-0515
Listed By:
Jake Jones
(774) 285-0515
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 4:52AM
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 LLC
Investment Insights
Based on property information with market context.
This renovated duplex contains two residential units with practical layouts and off-street parking. One unit is vacant and positioned for a buyer’s preferred leasing or occupancy plan, while the other is occupied by tenants on a TAW. Unit one also offers the ability to add a bedroom, providing additional layout flexibility.
Tenants are responsible for their own utilities. Built in 1880, the property is located in Pepperell near local amenities, schools, and commuter routes. Its current configuration supports either owner occupancy of one unit with rental use of the other or continued operation as a two-unit rental property.
Tenants are responsible for their own utilities. Built in 1880, the property is located in Pepperell near local amenities, schools, and commuter routes. Its current configuration supports either owner occupancy of one unit with rental use of the other or continued operation as a two-unit rental property.
Key Highlights
- Renovated duplex with two residential units
- One unit vacant; the other occupied on a TAW
- Unit one offers the ability to add a bedroom
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
$49,050
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
8.84%
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%
$981,000
$981.0K
Cap Rate 7%
$700,714
$700.7K
Cap Rate 9%
$545,000
$545.0K
Market Conditions
NOI Build-Up for 2,318 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
$73.7K $31.80/SF
− Vacancy
−$3.6K −$1.57/SF
EGI
$70.1K $30.23/SF
− OpEx
−$21.0K −$9.07/SF
NOI
$49.0K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$981,000
Cap Rate 7%
$700,714
Cap Rate 9%
$545,000
Alternative Uses
Best Use
Multifamily LT 5
$700.7K
$613.1K – $817.5K
NOI $49,050 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$658.9K
$576.5K – $768.7K
NOI $46,120 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,057 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 01463, MA
11,621
Population
4,516
Households
2.6
Avg Household Size
44
Median Age
44%
College-Educated
97%
High-School Grad
22.6 sq mi
ZIP Area
514
Density / Sq Mi
$126,824
Median Household Income
$62,658
Median Earnings
$1,303
Median Rent
$459,800
Median Home Value
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 - Renovated two-unit property with off-street parking and flexible occupancy options.
Where is this duplex located?
The property is located at 67-69 Main Pepperell, MA.
What is the asking price?
The asking price for this property is $554,995.
What are key features of this property?
This property features: Renovated duplex with two residential units; One unit vacant; the other occupied on a TAW; Unit one offers the ability to add a bedroom
