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29-31 Cotton Street, Leominster MA 01453

$675,000

Estimated $1,632.18/month Calculator

Multi Family

Total Units: 3

Price Per Unit: $225,000

Total Rent: 51000/year

Estimated CAP Rate: 5.88%

7 Bedrooms

3 Full Baths

3,288 SqFt

Total Parking: 8

13,816 SqFt

Welcome to 29-31 Cotton Street! Very sought after 3 unit property with many updates over the years on a side street close to the downtown area. This unique property has two side-by-side 3br townhouse style apartments with separate 1st floor entrances. The 3rd is a 1br unit on the 2nd floor. Some of the amenities include: Two farmer style porches, large deck, 8 off street parking, walk up attic, large storage shed, big backyard. All units have all separate utilities and de-lead certificates and there is a landlord electric meter. Two units are natural gas heat and one is electric heat, The townhouse style lends itself to a great potential as a condo conversion property (subject to city ordinances).

This home has been viewed 24 times

Last Checked: May 8th, 2024 at 1:36am (Source: MLS PIN #73180075)

Gross Income: $51,000

Gross Expenses: $11,292

Net Income Calc: $39,708

CAP Rate: 5.88%

Annual Expenses for 29-31 Cotton Street, Leominster MA 01453

Total Gross Expenses (Calculated)$11,292/year

APOD AvailableYes

Heating

Electricity$287

Water$1,364

Gas$1,364

Insurance$3,189

Sewer$1,364

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$6,452

Annual Income & Unit Breakdown for 29-31 Cotton Street, Leominster MA 01453

Total Gross Income (Calculated)$51,000

Unit 1

Rental Income$1,900

LeaseY

Bedrooms3

Bathrooms1 Full

Floor1

Levels in Unit2

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 2

Rental Income$1,350

LeaseN

Bedrooms3

Bathrooms1 Full

Floor1

Levels in Unit2

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 3

Rental Income$1,000

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

General Information for 29-31 Cotton Street, Leominster MA 01453

Listing ID73180075

Property TypeMulti Family / 3 Family

Price$675,000 ($205.29/SqFt)

Style3 Family - 3 Units Side By Side

CityLeominster

CountyWorcester

MLS Area

Neighborhood(s)

Approximate Living Area Total3,288 SqFt

Approximate Lot Size (Acres)0.32 acres

Total Parking8

Garage Parking

Year Built1901

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot Features

Foundation Area

Foundation DescriptionStone

Accessible Features

Outdoor Space

ZoningR

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 29-31 Cotton Street, Leominster MA 01453

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$11,292

Total Gross Income By Broker$51,000

Total Net Income By Broker$39,708

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2

Facilitator Compensation1

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 29-31 Cotton Street, Leominster MA 01453

Real Estate Taxes$6,452

Tax Year2023

Assessed Value$415,200

Financial Data SourceOwner

Total Gross Expenses By Broker$11,292

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$51,000

BostonRealEstate.com Gross Income

Total Net Income By Broker$39,708

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)5.88%

Location Information for 29-31 Cotton Street, Leominster MA 01453

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area AmenitiesHighway Access, House Of Worship, Public School, Shopping, Medical Facility, Public Transportation, T-station, Private School

Contact Information for 29-31 Cotton Street, Leominster MA 01453

Agent

Name: Douglas Tammelin

Office

Name: Coldwell Banker Realty - Leominster

Phone: 978-840-4014

Payment Calculator

, Interest

Property Taxes 537.67

Principal & Interest 4159.14

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Coldwell Banker Realty - Leominster

Douglas Tammelin

Agent Phone

Office Phone

(978) 840-4014

Text Agent Call Agent Call Office

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EXIT

Closed

29-31 Cotton Street, Leominster MA 01453

$675,000

Annual Expenses for 29-31 Cotton Street, Leominster MA 01453

Annual Income & Unit Breakdown for 29-31 Cotton Street, Leominster MA 01453

General Information for 29-31 Cotton Street, Leominster MA 01453

Disclosures for 29-31 Cotton Street, Leominster MA 01453

Financial Information for 29-31 Cotton Street, Leominster MA 01453

Location Information for 29-31 Cotton Street, Leominster MA 01453

Contact Information for 29-31 Cotton Street, Leominster MA 01453

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Coldwell Banker Realty - Leominster

Douglas Tammelin