Two-Unit Duplex with
For Sale
$469,900
17 Hunnewell Rd, Worcester, MA 01606
Residential Income, Worcester, MA
Property Size1,852 SF
Lot Size0.13 Acres
Price / SF$253.73
Days on Market48
Property Features for 17 Hunnewell Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS-7
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1
Parking
4
Directions
Corner of Hunnewell & Radcliff
Standard status
Active
APN
M:32 B:001 L:00022,1790333
Size
1,852 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3804
Amenities
Window Seats
Natural Woodwork
Hardwood Flooring
Ample Closet Space
French Doors
Building Details
Year built
1923
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: Jul 14
Changed: Aug 25
Last Checked: Aug 30 at 4:06PM
MLS# 73549554
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.
Located at 17 Hunnewell Rd in Worcester, this duplex offers 1,852 square feet across two floors. The 1923 property includes hardwood flooring, natural woodwork, window seats, French doors, and generous closet space. The units provide layouts with either a second bedroom or dining room. A walk-up third floor adds storage and is identified as a possible future expansion area.
Recent improvements include an updated roof and heating system. The property also has a large driveway with parking for 4-5 cars. RS-7 zoning applies, and the location provides access to Rte 290, 190, and the Massachusetts Turnpike.
Recent improvements include an updated roof and heating system. The property also has a large driveway with parking for 4-5 cars. RS-7 zoning applies, and the location provides access to Rte 290, 190, and the Massachusetts Turnpike.
Key Highlights
- Duplex with 1,852 square feet of building area
- Built in 1923 with natural woodwork, window seats, French doors, and hardwood flooring
- Walk‑up third floor provides storage and possible future expansion space
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
$27,197
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
5.79%
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%
$543,940
$543.9K
Cap Rate 7%
$388,529
$388.5K
Cap Rate 9%
$302,189
$302.2K
Market Conditions
NOI Build-Up for 1,852 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
$41.1K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$38.9K $20.98/SF
− OpEx
−$11.7K −$6.29/SF
NOI
$27.2K $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%
$543,940
Cap Rate 7%
$388,529
Cap Rate 9%
$302,189
Alternative Uses
Best Use
Multifamily LT 5
$388.5K
$340.0K – $453.3K
NOI $27,197 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$356.7K
$312.1K – $416.1K
NOI $24,966 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$618.2K
$540.9K – $721.2K
NOI $43,271 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
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 - The property features hardwood floors, a walk-up third level, and convenient access to major regional routes.
Where is this duplex located?
The property is located at 17 Hunnewell Rd Worcester, MA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Duplex with 1,852 square feet of building area; Built in 1923 with natural woodwork, window seats, French doors, and hardwood flooring; Walk‑up third floor provides storage and possible future expansion space
