Updated Duplex with Walk-Up
For Sale
$595,000
Pending
21 Dorothy Ave, Worcester, MA 01606
Residential Income, Worcester, MA
Property Size2,404 SF
Lot Size0.18 Acres
Days on Market75
Property Features for 21 Dorothy Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL-7
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
2
Directions
Burncoat street to 21 Dorothy ave
Standard status
Pending
APN
1774713
Size
2,404 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5967
Amenities
walk up attic
perennial garden
Building Details
Year built
1915
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: Jun 17
Changed: Aug 19
Last Checked: Aug 30 at 4:06PM
MLS# 73537695
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 duplex in Worcester’s Burncoat Area was constructed in 1915 and contains 2,404 square feet on a 0.1766-acre lot. The property includes four bedrooms and two bathrooms, along with a walk-up attic, updated electric, a recent roof, and fresh exterior paint. A perennial garden adds outdoor character, while RL-7 zoning is identified for the site.
Located at 21 Dorothy Ave, the property is within Worcester’s 01606 postal area. Its duplex configuration and existing residential improvements provide a defined income-property format without relying on unverified assumptions about current occupancy or tenancy.
Located at 21 Dorothy Ave, the property is within Worcester’s 01606 postal area. Its duplex configuration and existing residential improvements provide a defined income-property format without relying on unverified assumptions about current occupancy or tenancy.
Key Highlights
- Duplex with 2,404 square feet of property size
- Four bedrooms and two bathrooms
- Recent roof and fresh exterior paint
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
$35,303
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
5.93%
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%
$706,060
$706.1K
Cap Rate 7%
$504,329
$504.3K
Cap Rate 9%
$392,256
$392.3K
Market Conditions
NOI Build-Up for 2,404 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
$53.4K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$50.4K $20.98/SF
− OpEx
−$15.1K −$6.29/SF
NOI
$35.3K $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%
$706,060
Cap Rate 7%
$504,329
Cap Rate 9%
$392,256
Alternative Uses
Best Use
Multifamily LT 5
$504.3K
$441.3K – $588.4K
NOI $35,303 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$463.0K
$405.1K – $540.1K
NOI $32,407 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$802.4K
$702.1K – $936.1K
NOI $56,168 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
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 - Recent roof work, refreshed exterior paint, and updated electrical service enhance this residential income property.
Where is this duplex located?
The property is located at 21 Dorothy Ave Worcester, MA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Duplex with 2,404 square feet of property size; Four bedrooms and two bathrooms; Recent roof and fresh exterior paint
