Duplex Property with 5-Bay
For Sale
$849,000
90-96 Sayles Street, Southbridge, MA 01550
Two residential buildings provide flexible unit layouts, on-site parking, and generous outdoor space.
Property Size5,149 SF
Price / SF$164.89
Days on Market167
Property Features for 90-96 Sayles Street
General Information
Standard status
Active
Size
5,149 SF
Property subtype
Multi-family
Units
Unit Mix
5 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$102,600
Building Details
Year Built
1900
Buildings
2
Tenancy
Multi
Listing Agency:
Cameron Real Estate Group
Listed By:
Eclipse Group
(413) 789-9830
Source:
Parksquarerealty
Added: Mar 17
Changed: Aug 30
Last Checked: Apr 22 at 7:23AM
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 Cameron Real Estate Group
Investment Insights
Based on property information with market context.
This residential income property combines a 2-family and a 4-family building on one lot, totaling six units and 5,149 SF. The 2-family contains two apartments, each with two bedrooms, one bathroom, a full kitchen, living room, and dining room. The 4-family adds three two-bedroom units with one bathroom, eat-in kitchens, and living rooms, plus a three-bedroom unit with one bathroom, an eat-in kitchen, living room, and sunroom.
The property includes a 5-bay garage, ample parking, and outdoor space. Four units are occupied under tenant-at-will leases, while two are subject to annual leases. Electrical panels and porches were updated in 2025. Built in 1900, the property is located at 90-96 Sayles Street in Southbridge, Massachusetts.
The property includes a 5-bay garage, ample parking, and outdoor space. Four units are occupied under tenant-at-will leases, while two are subject to annual leases. Electrical panels and porches were updated in 2025. Built in 1900, the property is located at 90-96 Sayles Street in Southbridge, Massachusetts.
Key Highlights
- Six‑unit property with a 2‑family and 4‑family building on one lot
- 5,149 SF residential property built in 1900
- 5‑bay garage, ample parking, and generous outdoor space
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
$69,602
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
8.20%
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%
$1,392,040
$1.4M
Cap Rate 7%
$994,314
$994.3K
Cap Rate 9%
$773,356
$773.4K
Market Conditions
NOI Build-Up for 5,149 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
$102.0K $19.80/SF
− Vacancy
−$2.5K −$0.49/SF
EGI
$99.4K $19.31/SF
− OpEx
−$29.8K −$5.79/SF
NOI
$69.6K $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%
$1,392,040
Cap Rate 7%
$994,314
Cap Rate 9%
$773,356
Alternative Uses
Best Use
Multifamily LT 5
$994.3K
$870.0K – $1.16M
NOI $69,602 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$865.3K
$757.2K – $1.01M
NOI $60,573 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,082 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
861
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential buildings provide flexible unit layouts, on-site parking, and generous outdoor space.
Where is this duplex located?
The property is located at 90-96 Sayles Street Southbridge, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Six‑unit property with a 2‑family and 4‑family building on one lot; 5,149 SF residential property built in 1900; 5‑bay garage, ample parking, and generous outdoor space
