Two-Bedroom Residential Income
For Sale
$599,900
705 Autumn Ridge Dr, Ayer, MA 01432
Townhome condominium with an open living area, cathedral ceilings, stainless steel appliances, and granite countertops in a 55+ community.
Property Size1,846 SF
Price / SF$324.97
Days on Market11
Property Features for 705 Autumn Ridge Dr
General Information
Standard status
Active
Size
1,846 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
Range
Dishwasher
Refrigerator
Washer
Dryer
Central Air
Wood
Tile
Carpet
Forced Air, Natural Gas
2.0 Stories
$5,951 Taxes
Public
Built in 2010
Building Details
Year Built
2010
Listing Agency:
Century 21 North East
(800) 844-7653
Listed By:
Joanne Smith
Source:
Donahuere
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 31 at 12:42PM
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
Investment Insights
Based on property information with market context.
Built in 2010, this two-bedroom, three-bathroom townhome condominium offers 1,846 square feet of living space within a 55+ residential community. The interior centers on an open arrangement connecting the living, dining, and kitchen areas, with cathedral ceilings adding volume to the main space. Stainless steel appliances and granite countertops are included in the kitchen.
The property is located in Ayer, bordering Groton, with access to amenities in both towns. Nearby community features identified for the property include commuter rail service to Boston, Groton Hill Music Center, local restaurants, a 16-mile rail trail, and conservation land. The combination of a defined residential setting, substantial living area, and proximity to regional amenities gives the property a clear townhome configuration within the residential income classification.
The property is located in Ayer, bordering Groton, with access to amenities in both towns. Nearby community features identified for the property include commuter rail service to Boston, Groton Hill Music Center, local restaurants, a 16-mile rail trail, and conservation land. The combination of a defined residential setting, substantial living area, and proximity to regional amenities gives the property a clear townhome configuration within the residential income classification.
Key Highlights
- 1,846 SF townhome condominium with 2 bedrooms and 3 baths
- Located in a 55+ community in Ayer, bordering Groton
- Open living, dining, and kitchen layout with cathedral ceilings
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
$36,729
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
6.12%
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%
$734,580
$734.6K
Cap Rate 7%
$524,700
$524.7K
Cap Rate 9%
$408,100
$408.1K
Market Conditions
NOI Build-Up for 1,846 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
$70.4K $38.16/SF
− Vacancy
−$3.7K −$1.98/SF
EGI
$66.8K $36.18/SF
− OpEx
−$30.1K −$16.28/SF
NOI
$36.7K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$734,580
Cap Rate 7%
$524,700
Cap Rate 9%
$408,100
Alternative Uses
Best Use
Apartment 5plus
$524.7K
$459.1K – $612.2K
NOI $36,729 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$956.2K – $1.27M
NOI $76,498 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Explore this area
Business Placement
Demographics for 01432, MA
8,221
Population
3,770
Households
2.2
Avg Household Size
43
Median Age
41%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
967
Density / Sq Mi
$105,142
Median Household Income
$66,659
Median Earnings
$1,373
Median Rent
$419,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Townhome condominium with an open living area, cathedral ceilings, stainless steel appliances, and granite countertops in a 55+ community.
Where is this residential income property located?
The property is located at 705 Autumn Ridge Dr Ayer, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 1,846 SF townhome condominium with 2 bedrooms and 3 baths; Located in a 55+ community in Ayer, bordering Groton; Open living, dining, and kitchen layout with cathedral ceilings
