Remodeled Two-Family
For Sale
$699,900
Pending
14 Cutler St, Worcester, MA 01604
Turnkey two-unit residence with separate utilities, updated kitchens and baths, and multiple bedrooms across both units.
Property Size2,775 SF
Days on Market51
Property Features for 14 Cutler St
General Information
Standard status
Pending
Size
2,775 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
RG-5
Taxes and HOA fees
Annual Taxes
$6,512
Building Details
Building Size
2,775 SF
Year Built
1890
Stories
3
Units
2
Listing Agency:
Realty Solutions Inc.
(508) 495-4400
Listed By:
Silvana Silva · License #9580782
(978) 804-4120
Source:
Thefirmreg
Added: Jul 19
Changed: Aug 24
Last Checked: Aug 1 at 9:23AM
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 Realty Solutions Inc.
Investment Insights
Based on property information with market context.
This remodeled two-family home is move-in ready and features a spacious layout with plenty of bedroom space. The first unit offers 3 bedrooms, while the second unit includes 5 bedrooms. Both units have been updated with refreshed interiors, including updated kitchens with countertops and stainless steel appliances, and beautifully renewed bathrooms.
The property also includes updated electrical and plumbing systems, along with a new sewer line and a new gas line. Outside, there is a generously sized deck overlooking a large backyard.
Located at 14 Cutler St in Worcester, MA, the home is convenient to shopping, dining, local amenities, and major routes, supporting everyday accessibility for residents.
The property also includes updated electrical and plumbing systems, along with a new sewer line and a new gas line. Outside, there is a generously sized deck overlooking a large backyard.
Located at 14 Cutler St in Worcester, MA, the home is convenient to shopping, dining, local amenities, and major routes, supporting everyday accessibility for residents.
Key Highlights
- Remodeled two‑family home built in 1890 with updated interiors and move‑in ready convenience
- Each unit includes renovated kitchens with countertops and stainless steel appliances
- Bathrooms have been refreshed in both units
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
$40,752
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
5.82%
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%
$815,040
$815.0K
Cap Rate 7%
$582,171
$582.2K
Cap Rate 9%
$452,800
$452.8K
Market Conditions
NOI Build-Up for 2,775 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
$61.6K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$58.2K $20.98/SF
− OpEx
−$17.5K −$6.29/SF
NOI
$40.8K $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%
$815,040
Cap Rate 7%
$582,171
Cap Rate 9%
$452,800
Alternative Uses
Best Use
Multifamily LT 5
$582.2K
$509.4K – $679.2K
NOI $40,752 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$534.4K
$467.6K – $623.5K
NOI $37,408 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$926.2K
$810.5K – $1.08M
NOI $64,836 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,163
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
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey two-unit residence with separate utilities, updated kitchens and baths, and multiple bedrooms across both units.
Where is this duplex located?
The property is located at 14 Cutler St Worcester, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Remodeled two‑family home built in 1890 with updated interiors and move‑in ready convenience; Each unit includes renovated kitchens with countertops and stainless steel appliances; Bathrooms have been refreshed in both units
