Two-Unit Duplex with
For Sale
$575,000
16 Dartmouth St, Worcester, MA 01604
Residential Income, Worcester, MA
Property Size2,422 SF
Lot Size0.14 Acres
Price / SF$237.41
Days on Market14
Property Features for 16 Dartmouth St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4
Parking
4
Directions
Plantation to Dartmouth St
Standard status
Active
APN
M:18 B:010 L:00015,1780291
Size
2,422 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7029
Amenities
fenced-in yard
laundry area/closet
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Vision · RE/MAX International
(508) 595-9900
Listed By:
Jeff Burk · License #9035530
(508) 595-9900
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 4:06PM
MLS# 73564779
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Worcester duplex contains two residences, each arranged with three bedrooms, substantial living and dining areas, and an eat-in kitchen with extensive cabinetry. The 2,422-square-foot property includes replacement windows, updated water heaters, laundry area/closet space, and a walk-up third floor. A new roof is scheduled for installation before closing.
Set on 0.1377 acres, the property has a fenced yard and off-street parking for four cars. RG-5 zoning and the 1900 construction date provide additional context for evaluating the asset. Regional access includes I-290, I-495, Route 146, Route 20, and the Massachusetts Turnpike. Worcester colleges, cultural institutions, sports venues, and restaurant destinations are also located nearby.
Set on 0.1377 acres, the property has a fenced yard and off-street parking for four cars. RG-5 zoning and the 1900 construction date provide additional context for evaluating the asset. Regional access includes I-290, I-495, Route 146, Route 20, and the Massachusetts Turnpike. Worcester colleges, cultural institutions, sports venues, and restaurant destinations are also located nearby.
Key Highlights
- Two residential units, each with 3 bedrooms
- 2,422 square feet on a 0.1377‑acre lot
- Off‑street parking for 4 cars and a fenced yard
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
$35,568
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
6.19%
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%
$711,360
$711.4K
Cap Rate 7%
$508,114
$508.1K
Cap Rate 9%
$395,200
$395.2K
Market Conditions
NOI Build-Up for 2,422 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
$53.8K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$50.8K $20.98/SF
− OpEx
−$15.2K −$6.29/SF
NOI
$35.6K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /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%
$711,360
Cap Rate 7%
$508,114
Cap Rate 9%
$395,200
Alternative Uses
Best Use
Multifamily LT 5
$508.1K
$444.6K – $592.8K
NOI $35,568 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$466.4K
$408.1K – $544.2K
NOI $32,650 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$808.4K
$707.4K – $943.2K
NOI $56,589 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature three bedrooms, generous living areas, and eat-in kitchens within a fenced lot.
Where is this duplex located?
The property is located at 16 Dartmouth St Worcester, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms; 2,422 square feet on a 0.1377‑acre lot; Off‑street parking for 4 cars and a fenced yard
