Two-Family Duplex with
New
For Sale
$619,900
56 Plantation St, Worcester, MA 01604
Residential Income, Worcester, MA
Property Size2,705 SF
Lot Size0.22 Acres
Price / SF$229.17
Days on Market2
Property Features for 56 Plantation St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 5
Parking
7
Directions
Use GPS
Standard status
Active
APN
M:18 B:008 L:00001,1780213
Size
2,705 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7186
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 27 at 2:06AM
MLS# 73568839
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 includes 2,705 square feet on a 0.2201-acre lot, with six bedrooms, two bathrooms, and a two-family configuration. The property was built in 1890 and includes 6+ off-street parking spaces. A roof approximately 5 years old is among the completed updates, while additional work and TLC remain.
Located at 56 Plantation St, the property is near shopping, dining, schools, public transportation, and major routes. RG-5 zoning is listed for the site. The layout, bedroom count, parking, and existing improvements provide a defined residential income property configuration for continued renovation or occupancy.
Located at 56 Plantation St, the property is near shopping, dining, schools, public transportation, and major routes. RG-5 zoning is listed for the site. The layout, bedroom count, parking, and existing improvements provide a defined residential income property configuration for continued renovation or occupancy.
Key Highlights
- 2,705 square feet on a 0.2201‑acre lot
- Two‑family duplex with six bedrooms and two bathrooms
- 6+ off‑street parking spaces
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
$39,724
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
6.41%
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%
$794,480
$794.5K
Cap Rate 7%
$567,486
$567.5K
Cap Rate 9%
$441,378
$441.4K
Market Conditions
NOI Build-Up for 2,705 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
$60.1K $22.20/SF
− Vacancy
−$3.3K −$1.22/SF
EGI
$56.7K $20.98/SF
− OpEx
−$17.0K −$6.29/SF
NOI
$39.7K $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%
$794,480
Cap Rate 7%
$567,486
Cap Rate 9%
$441,378
Alternative Uses
Best Use
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$520.9K
$455.8K – $607.8K
NOI $36,465 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$902.9K
$790.0K – $1.05M
NOI $63,201 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
873
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 - Two-family layout with generous living areas, multiple bedrooms, and off-street parking.
Where is this duplex located?
The property is located at 56 Plantation St Worcester, MA.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: 2,705 square feet on a 0.2201‑acre lot; Two‑family duplex with six bedrooms and two bathrooms; 6+ off‑street parking spaces
