Duplex with Off-Street
New
For Sale
$375,000
67 Mechanic St., Spencer, MA 01562
Two separate two-bedroom, one-bath apartments provide a straightforward residential income configuration.
Property Size1,995 SF
Price / SF$187.97
Days on Market4
Property Features for 67 Mechanic St.
General Information
Standard status
Active
Size
1,995 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
1,995 SF
Year Built
1898
Listing Agency:
Century 21 North East
(800) 844-7653
Listed By:
James Lovett · License #453000144
(508) 832-1066
Source:
Iverty
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 21 at 2:15AM
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 Century 21 North East
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Investment Insights
Based on property information with market context.
This duplex contains two apartments, each with two bedrooms and one bathroom. The first-floor unit is vacant and has been refreshed, offering a choice between owner occupancy and leasing to a new tenant. The property includes off-street parking.
The building is within walking distance of the town center. Constructed in 1898, it contains 1,995 square feet.
The building is within walking distance of the town center. Constructed in 1898, it contains 1,995 square feet.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- Vacant, refreshed first‑floor apartment
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,968
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,360
$539.4K
Cap Rate 7%
$385,257
$385.3K
Cap Rate 9%
$299,644
$299.6K
Market Conditions
NOI Build-Up for 1,995 SF
Gross rent
$39.5K $19.80/SF
− Vacancy
−$976 −$0.49/SF
EGI
$38.5K $19.31/SF
− OpEx
−$11.6K −$5.79/SF
NOI
$27.0K $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 Rate 5%
$539,360
Cap Rate 7%
$385,257
Cap Rate 9%
$299,644
Alternative Uses
Best Use
Multifamily LT 5
$385.3K
$337.1K – $449.5K
NOI $26,968 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$335.3K
$293.4K – $391.2K
NOI $23,469 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$681.3K
$596.1K – $794.8K
NOI $47,688 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
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Business Placement
Demographics for 01562, MA
11,992
Population
5,788
Households
2.1
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
32.9 sq mi
ZIP Area
364
Density / Sq Mi
$79,086
Median Household Income
$49,131
Median Earnings
$1,085
Median Rent
$368,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate two-bedroom, one-bath apartments provide a straightforward residential income configuration.
Where is this duplex located?
The property is located at 67 Mechanic St. Spencer, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; Vacant, refreshed first‑floor apartment; Off‑street parking
