Two-Unit Residential Income
24 Proctor St Worcester, MA 01606
For Sale
$639,900
Well-maintained two-unit property with two-bedroom layouts, private laundry space, and two parking spaces.
Property Size1,700 SF
Price / SF$376.41
Days on Market25
Property Features for 24 Proctor St
General Information
- Standard status
- Active
- Size
- 1,700 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1920
Listing Agency:
Keller Williams Pinnacle Central
(774) 200-8697
Listed By:
Nathan Riel
(774) 200-8697
Source:
Elliman
Added: Jul 3
Changed: Jul 10
Last Checked: Jul 26 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Pinnacle Central
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 1920 and totals 1,700 square feet of living space. The building has two units, and each unit is configured with two bedrooms and one full bathroom. Both units include private laundry space, supporting everyday convenience and privacy. The property also features two parking spaces, along with an outdoor backyard and patio.
The address is 24 Proctor St in Worcester, Massachusetts. The provided information notes walkability and some transit access, with a very walkable walk score and a somewhat limited bike score. The property is described as having a view of the lake.
For buyers seeking a straightforward two-unit setup, the uniform unit design and in-unit laundry space can simplify leasing and operations. The combination of dedicated parking, a backyard/patio area, and two-bedroom layouts may appeal to tenants looking for comfortable, self-contained living within a compact multifamily building.
The address is 24 Proctor St in Worcester, Massachusetts. The provided information notes walkability and some transit access, with a very walkable walk score and a somewhat limited bike score. The property is described as having a view of the lake.
For buyers seeking a straightforward two-unit setup, the uniform unit design and in-unit laundry space can simplify leasing and operations. The combination of dedicated parking, a backyard/patio area, and two-bedroom layouts may appeal to tenants looking for comfortable, self-contained living within a compact multifamily building.
Key Highlights
- Multi‑family built in 1920 with 1,700 SF of living space
- Two‑unit property; each unit offers 2 bedrooms and 1 full bathroom
- Each unit includes private laundry space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.7k | $22.20 |
| − Vacancy | −$2.1k | −$1.22 |
| EGI | $35.7k | $20.98 |
| − OpEx | −$10.7k | −$6.29 |
| NOI | $25.0k | $14.69 |
1,700 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$356.6K
$312.1K – $416.1K
NOI $24,965 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$327.4K
$286.5K – $382.0K
NOI $22,917 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$567.4K
$496.5K – $662.0K
NOI $39,720 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-unit property with two-bedroom layouts, private laundry space, and two parking spaces.
Where is this duplex located?
The property is located at 24 Proctor St Worcester, MA.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Multi‑family built in 1920 with 1,700 SF of living space; Two‑unit property; each unit offers 2 bedrooms and 1 full bathroom; Each unit includes private laundry space
