Two-Unit Multifamily Residential
For Sale
$430,000
98 Cross St, Southbridge, MA 01550
Two-unit duplex with 2BR/1BA units, one scheduled to become vacant after June 1.
Property Size1,450 SF
Price / SF$296.55
Days on Market120
Property Features for 98 Cross St
General Information
Standard status
Active
Size
1,450 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$43,200
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,199
Building Details
Building Size
1,450 SF
Year Built
1940
Stories
3
Tenancy
Multi
Listing Agency:
MAC Real Estate
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 14
Changed: Sep 9
Last Checked: Sep 10 at 6:05AM
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 MAC Real Estate
Investment Insights
Based on property information with market context.
This two-unit multifamily duplex features two 2-bedroom, 1-bath apartments. Both units are currently occupied, with one unit scheduled to become vacant after June 1, creating flexibility for either an owner-occupant or an investor. Recent capital improvements include a new electric stove installed in March 2025 and a water heater replacement completed in February 2026. Exterior porches were freshly painted within the last two years.
The property is located at 98 Cross St in Southbridge, Massachusetts. As with any investment or ownership opportunity, prospective buyers should perform their own due diligence regarding current income, expenses, and future leasing considerations.
The property is located at 98 Cross St in Southbridge, Massachusetts. As with any investment or ownership opportunity, prospective buyers should perform their own due diligence regarding current income, expenses, and future leasing considerations.
Key Highlights
- Solid 2‑unit multifamily duplex in Southbridge built in 1940
- Both units currently occupied; one unit scheduled to become vacant after June 1
- Each unit is a 2BR/1BA (proven 2BR/1BA rental configuration)
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
$19,601
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
4.56%
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%
$392,020
$392.0K
Cap Rate 7%
$280,014
$280.0K
Cap Rate 9%
$217,789
$217.8K
Market Conditions
NOI Build-Up for 1,450 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
$28.7K $19.80/SF
− Vacancy
−$709 −$0.49/SF
EGI
$28.0K $19.31/SF
− OpEx
−$8.4K −$5.79/SF
NOI
$19.6K $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%
$392,020
Cap Rate 7%
$280,014
Cap Rate 9%
$217,789
Alternative Uses
Best Use
Multifamily LT 5
$280.0K
$245.0K – $326.7K
NOI $19,601 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$243.7K
$213.2K – $284.3K
NOI $17,058 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$495.2K
$433.3K – $577.7K
NOI $34,661 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
894
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with 2BR/1BA units, one scheduled to become vacant after June 1.
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 $430,000.
What are key features of this property?
This property features: Solid 2‑unit multifamily duplex in Southbridge built in 1940; Both units currently occupied; one unit scheduled to become vacant after June 1; Each unit is a 2BR/1BA (proven 2BR/1BA rental configuration)
