Duplex with Screened
For Sale
$399,900
Pending
74 Locust Avenue, Southbridge, MA 01550
Two-unit residential property with finished lower-level space, a garage, and solar panels.
Property Size2,489 SF
Days on Market173
Property Features for 74 Locust Avenue
General Information
Standard status
Pending
Size
2,489 SF
Total Parking Spaces
5
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Net Operating Income
$17,400
Taxes and HOA fees
Annual Taxes
$5,033
Amenities
screened porch
solar
City/Town Sewer, Public, 12.24, B, 10594, 2022, B, 198
No
2
Yes
2.0
Full, Finished, Walk Out, Interior Access, Sump Pump
2.00
Frame
Shingle, Shake
Shed(s)
Porch, Porch - Screened
Porch, Screened
Building Details
Year Built
1975
Listing Agency:
StartPoint Realty
(978) 422-3999
Listed By:
Sharon Ridley · License #9579459
(978) 422-3999
Source:
Compass
Added: Mar 11
Changed: Aug 29
Last Checked: Aug 29 at 7:13PM
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 StartPoint Realty
Investment Insights
Based on property information with market context.
This 1975 duplex contains 2,489 square feet and offers a residential layout with spacious rooms, newer bedroom flooring, and stainless steel appliances. The property includes finished walk-out lower-level space with interior access and a sump pump, along with a garage and ample parking. Screened porch areas and a shed add practical outdoor and storage space.
Located on Locust Avenue in Southbridge, the property is near shops, restaurants, Harrington Hospital, and schools. Solar panels are also in place, providing an additional energy feature for the property.
Located on Locust Avenue in Southbridge, the property is near shops, restaurants, Harrington Hospital, and schools. Solar panels are also in place, providing an additional energy feature for the property.
Key Highlights
- Duplex with 2,489 square feet of property size
- 1975 construction with newer flooring in the bedrooms
- Stainless steel appliances and spacious rooms
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
$33,645
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
8.41%
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%
$672,900
$672.9K
Cap Rate 7%
$480,643
$480.6K
Cap Rate 9%
$373,833
$373.8K
Market Conditions
NOI Build-Up for 2,489 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
$49.3K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$48.1K $19.31/SF
− OpEx
−$14.4K −$5.79/SF
NOI
$33.6K $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%
$672,900
Cap Rate 7%
$480,643
Cap Rate 9%
$373,833
Alternative Uses
Best Use
Multifamily LT 5
$480.6K
$420.6K – $560.8K
NOI $33,645 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$418.3K
$366.0K – $488.0K
NOI $29,281 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$850.0K
$743.7K – $991.6K
NOI $59,497 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
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 - Two-unit residential property with finished lower-level space, a garage, and solar panels.
Where is this duplex located?
The property is located at 74 Locust Avenue Southbridge, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex with 2,489 square feet of property size; 1975 construction with newer flooring in the bedrooms; Stainless steel appliances and spacious rooms
