Renovated Two-Family with Extra
For Sale
$674,900
Pending
9-11 Central Ave, Northbridge, MA 01534
Spacious, renovated two-family home with potential for conversion.
Property Size2,800 SF
Lot Size0.07 Acres
Days on Market103
Property Features for 9-11 Central Ave
General Information
Standard status
Pending
Size
2,800 SF
Lot size
0.07 Acres
Property subtype
Multi Family Home
Building Details
Year Built
1940
Listing Agency:
RE/MAX Synergy
(508) 857-5392
Listed By:
Legacy Direct Realty Team
Source:
Alliancepartnersre
Added: Apr 23
Changed: Jul 10
Last Checked: Jul 23 at 7:08AM
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 RE/MAX Synergy
Investment Insights
Based on property information with market context.
This renovated two-family property, formerly a four-family, presents an opportunity for owner occupancy or investment. Situated on a quiet, private street, the property offers views of the Blackstone River. Original mechanicals, including four heating systems, four electrical meters, and four gas meters, have been kept intact, potentially allowing for conversion back to a four-family with proper permitting. The property includes an abutting 0.07-acre lot. Updates to the home include newer windows, brand-new maintenance-free vinyl siding, a newer roof, and new vinyl fencing. The property boasts two large, recently renovated 3-bedroom, 2-bath units, featuring LVP flooring throughout, fresh paint, updated kitchens, and renovated tiled bathrooms. Each unit has two full bathrooms and multiple private entrances. The front and back yards offer ample space for outdoor activities such as gardening and barbecues. The property size is 2800 square feet.
Key Highlights
- Massive, renovated 2‑family home with potential to convert back to a 4‑family (with proper permitting).
- Two large, recently renovated 3‑bedroom, 2‑bath units with updated kitchens and bathrooms.
- Includes an abutting .07‑acre lot, expanding the property's potential.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.4k | $19.80 |
| − Vacancy | −$1.4k | −$0.49 |
| EGI | $54.1k | $19.31 |
| − OpEx | −$16.2k | −$5.79 |
| NOI | $37.8k | $13.52 |
2,800 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$540.7K
$473.1K – $630.8K
NOI $37,849 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$470.6K
$411.7K – $549.0K
NOI $32,939 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$956.2K
$836.6K – $1.12M
NOI $66,931 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 01534, MA
6,233
Population
2,515
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
89%
High-School Grad
9.5 sq mi
ZIP Area
656
Density / Sq Mi
$134,539
Median Household Income
$69,844
Median Earnings
$1,170
Median Rent
$451,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Spacious, renovated two-family home with potential for conversion.
Where is this duplex located?
The property is located at 9-11 Central Ave Northbridge, MA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Massive, renovated 2‑family home with potential to convert back to a 4‑family (with proper permitting).; Two large, recently renovated 3‑bedroom, 2‑bath units with updated kitchens and bathrooms.; Includes an abutting .07‑acre lot, expanding the property's potential.
