Two-Family Residential Income
For Sale
$739,900
7 Wingate St, Shrewsbury, MA 01545
Two updated units with a shared basement laundry area, yard, and two separate storage units generating extra monthly income.
Property Size1,898 SF
Price / SF$389.83
Days on Market207
Property Features for 7 Wingate St
General Information
Standard status
Active
Size
1,898 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
RES B-
Taxes and HOA fees
Annual Taxes
$6,044
Building Details
Building Size
1,898 SF
Year Built
1917
Stories
2
Listing Agency:
La Maison
(508) 736-2911
Listed By:
Tai Cheng · License #9506967
(781) 308-9390
Source:
Churchillprop
Added: Apr 9
Changed: Oct 31
Last Checked: Oct 30 at 11:37AM
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 La Maison
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Investment Insights
Based on property information with market context.
This well-maintained two-family property offers two spacious units and updated utilities. Unit 1 is being delivered vacant. Unit 2 has been updated with new floors and fresh paint. A shared laundry area is located in the basement, and the property also includes two separate storage units that generate additional monthly income.
The home is beautifully situated near scenic Jordan Pond, and it features a yard for outdoor space.
Overall, the configuration provides two separate living units under one roof with convenient shared laundry and supplemental storage income.
The home is beautifully situated near scenic Jordan Pond, and it features a yard for outdoor space.
Overall, the configuration provides two separate living units under one roof with convenient shared laundry and supplemental storage income.
Key Highlights
- Two‑family home built in 1917, near scenic Jordan Pond
- Unit 1 to be delivered vacant for owner‑occupant use or immediate rental
- Unit 2 updated with new floors and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,657
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,140
$513.1K
Cap Rate 7%
$366,529
$366.5K
Cap Rate 9%
$285,078
$285.1K
Market Conditions
NOI Build-Up for 1,898 SF
Gross rent
$37.6K $19.80/SF
− Vacancy
−$928 −$0.49/SF
EGI
$36.7K $19.31/SF
− OpEx
−$11.0K −$5.79/SF
NOI
$25.7K $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%
$513,140
Cap Rate 7%
$366,529
Cap Rate 9%
$285,078
Alternative Uses
Best Use
Multifamily LT 5
$366.5K
$320.7K – $427.6K
NOI $25,657 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$319.0K
$279.1K – $372.1K
NOI $22,328 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$648.1K
$567.1K – $756.2K
NOI $45,370 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units with a shared basement laundry area, yard, and two separate storage units generating extra monthly income.
Where is this duplex located?
The property is located at 7 Wingate St Shrewsbury, MA.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Two‑family home built in 1917, near scenic Jordan Pond; Unit 1 to be delivered vacant for owner‑occupant use or immediate rental; Unit 2 updated with new floors and fresh paint
