Two-Unit Residential Income
98 Cross St Southbridge, MA 01550
98 Cross St, Southbridge, MA, 01550
$448,000
For Sale
$448,000
Two residential units are currently occupied, with recent updates including a 2025 stove and 2026 water heater.
Property Size1,450 SF
Price / SF$308.97
Days on Market49
Property Features for 98 Cross St
General Information
- Standard status
- Active
- Size
- 1,450 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1940
Listing agency
www.HomeZu.com
(877) 249-5478
Listed by
Jason Saphire · License #9086666
(877) 249-5478
Source
Alliancepartnersre
Added: Jun 3 Updated: Jul 20 at 7:00PM Checked: Jul 20 at 7:00PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This 2-unit residential income property includes two separate apartments. The units are each described as 2BR/1BA and both are currently occupied, with one unit expected to become vacant after June 1st. Recent capital improvements include a new electric stove installed in March 2025 and a water heater replacement completed in February 2026. Exterior porches have also been freshly painted within the last two years.
The property is located at 98 Cross St in Southbridge, MA 01550. For 2025, operating cost items noted include taxes of $3,200, trash at $1,060, and water/sewer at $2,707.
The seller notes strong gross rent potential based on the 2-unit configuration, with proforma gross rent referenced at $3,700 per month.
The property is located at 98 Cross St in Southbridge, MA 01550. For 2025, operating cost items noted include taxes of $3,200, trash at $1,060, and water/sewer at $2,707.
The seller notes strong gross rent potential based on the 2-unit configuration, with proforma gross rent referenced at $3,700 per month.
Key Highlights
- Solid 2‑unit multifamily built in 1940, with both units currently occupied (2BR/1BA each).
- Proforma gross rent of $3,700/month; one unit is scheduled to become vacant after June 1.
- Recent upgrades: new electric stove in March 2025 and water heater replacement in February 2026.
Local 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 | $28.7k | $19.80 |
| − Vacancy | −$709 | −$0.49 |
| EGI | $28.0k | $19.31 |
| − OpEx | −$8.4k | −$5.79 |
| NOI | $19.6k | $13.52 |
1,450 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$280.0K
$245.0K – $326.7K
NOI $19,601 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$243.7K
$213.2K – $284.3K
NOI $17,058 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$495.2K
$433.3K – $577.7K
NOI $34,661 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two residential units are currently occupied, with recent updates including a 2025 stove and 2026 water heater.
Where is this duplex located?
The property is located at 98 Cross St Southbridge, MA.
What is the asking price?
The asking price for this property is $448,000.
What are key features of this property?
This property features: Solid 2‑unit multifamily built in 1940, with both units currently occupied (2BR/1BA each).; Proforma gross rent of $3,700/month; one unit is scheduled to become vacant after June 1.; Recent upgrades: new electric stove in March 2025 and water heater replacement in February 2026.
