54-56 North Main St, Leominster MA 01453
Leominster, MA 01453
$1,265,000
$999,500
Est. $6,055/month
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About this home
The property currently generates approximately $110,784 in gross annual rental income, offering strong in-place cash flow with upside through targeted improvements and operational efficiencies. This 5-unit multi-family investment at 54–56 North Main Street includes 9 bedrooms and 5 full baths across approximately 4,165 sq ft. Units feature a mix of 1- and 3-bedroom layouts, each with its own kitchen and full bath. Set on a 0.53-acre lot, the property offers 11 off-street parking spaces, a full unfinished basement for additional storage, and a durable vinyl exterior. Tenants are in place, providing immediate income. Conveniently located near downtown Leominster, shopping, dining, and major routes. Please see the attached Income & Expense Summary for full financial details. A solid opportunity for investors seeking a well-located, income-producing multi-family property with upside potential.
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Recently Sold Nearby
Property History
Market Insights
2
Price Changes
21%
Price Range
Property Timeline
Price Reduced
Jun 5, 2026
$999,500
$100,500
(-9.14%)
From $1,100,000 to $999,500 (-9.1%)
Showing Instructions Updated
Apr 7, 2026
New showing requirements
Price Reduced
Apr 7, 2026
$1,100,000
$165,000
(-13.04%)
From $1,265,000 to $1,100,000 (-13.0%)
Showing Instructions Updated
Feb 26, 2026
New showing requirements
Showing Instructions Updated
Feb 24, 2026
New showing requirements
Listed for Sale
Feb 19, 2026
$1,265,000
Original listing
Agent: Team Lillian Montalto
Office: Lillian Montalto Signature Properties
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 06/05/2026 | ↓ Price Reduced | $999,500 | $100,500 | - | From $1,100,000 to $999,500 (-9.1%) |
| 04/07/2026 | 👁️ Showing Instructions Updated | - | - | - | New showing requirements |
| 04/07/2026 | ↓ Price Reduced | $1,100,000 | $165,000 | - | From $1,265,000 to $1,100,000 (-13.0%) |
| 02/26/2026 | 👁️ Showing Instructions Updated | - | - | - | New showing requirements |
| 02/24/2026 | 👁️ Showing Instructions Updated | - | - | - | New showing requirements |
| 02/19/2026 | 🏠 Listed for Sale | $1,265,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2025 | $9,612 | $685,100 |
Financial Details
Annual Property Tax
$9,612
Tax Year 2025
Assessed Value
$685,100
Facts & Features
Home Facts
Type
Residential Income
Style
5+ Family - 5+ Units Up/Down
Year Built
1920
Living Area
4,165 sq ft
Lot Size
0.53 acres
Bedrooms
9
Full Baths
5
Total Rooms
21
Investment Metrics
Units
5
Unit 1 Rent
$1,502/mo · Y
Unit 2 Rent
$1,400/mo · N
Unit 3 Rent
$2,530/mo · N
Unit 4 Rent
$1,400/mo · Y
Total Monthly Rent
$6,832/mo
Gross Income
$110,784
Net Operating Income
$88,528
Operating Expenses
$16,717
Cap Rate
8.86%
Interior
Heating
Oil, Natural Gas
Cooling
None
Flooring
None
Appliances
Range, Microwave, Refrigerator, Dishwasher
Fireplace
None
Basement
Full, Unfinished
Laundry
None
Features
Ceiling Fan(s), Bathroom With Tub & Shower, Bathroom With Shower Stall, Living Room, Kitchen
Exterior
Construction
Frame
Architecture
None
Roof
Shingle
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
Paved Drive, Off Street
Total Spaces
11
Utilities
Electric
None
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$9,612
Assessed Value
$685,100
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
Buyers Responsible For Own Due Diligence
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Measured
Sq Ft Disclosures
Broker not responsible for discrepancies in SF
Documents
None
County
Worcester
Total market time (incl. prior listings)
148 days
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1920
Bedrooms
9
Full Bathrooms
5
Living Area
4,165 sq ft
Total Rooms
21
Stories
6
Levels
6
Floor Layout
Interactive room guide
Floor Layout
Finished Area
4,165 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Range, Microwave, Refrigerator, Dishwasher
Interior Features:
Ceiling Fan(s), Bathroom With Tub & Shower, Bathroom with Shower Stall, Living Room, Kitchen
Windows:
Basement:
Full, Unfinished
Laundry:
Security:
Construction & Materials
Year Built:
1920
Structure Type:
Exterior Materials:
Frame
Roof:
Shingle
Foundation:
Stone
Stories:
6
Heating, Cooling & Utilities
Heating:
Oil, Natural Gas
Cooling:
None
Hot Water:
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Total Parking Spaces:
11
Parking Features:
Paved Drive, Off Street
Nearby Schools
School information not available for this location.
Monthly Payment Calculator
Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%
Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$801
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
$0
Total principal paid
$0
Total interest paid
$0
Rate Impact
-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo
Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.
Location
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Neighborhood
54-56 North Main St, Leominster MA 01453
Leominster, MA 01453
Listing Information
Listing Agent
Team Lillian Montalto
Listing Office
Lillian Montalto Signature Properties
Office Phone
978-475-1400
Agent MLS ID
TM338007
Office MLS ID
G62122
Listing Data Updated
Jul 17, 2026 1:35 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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