Lot 3 I Capen Rd Spencer — Photo 1 of 1
$105,000
Investment Analysis — Lot 3 I Capen Rd
Spencer, MA 01562
Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a home in 01562 carries an estimated $1,290/mo in gross rent — about a 10.52% cap rate and $11,041/yr in estimated NOI at the $105,000 list price. Adjust every assumption in the calculator below.
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READY-TO-BUILD OPPORTUNITY! Skip much of the costly and time-consuming preliminary work that comes with developing a vacant lot. This Spencer parcel offers a major head start for a builder, contractor, or buyer looking to build a new home, with key approvals and documentation already in place.The property has an approved 3-bedroom septic design, well permit, ORAD, and Order of Conditions already recorded. That means valuable groundwork has been taken care of, saving the next owner months of planning, permitting, engineering, and associated costs compared with starting the process from scratch. Buyer can move forward with the next phase by applying for the building permit and begin turning the plans into a finished home. Easy access to Route 9 provides a convenient connection to Worcester and surrounding communities.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
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Listing Agent: Krystal Hansen
Listing Office: Castinetti Realty Group
MLS® Number: 73569099