Two-Unit Multifamily
For Sale
$559,900
Pending
2 Hacker Ct, Worcester, MA 01603
Two residential units with updated heating systems, large backyard, detached two-car garage, and a spacious basement for storage.
Property Size2,364 SF
Days on Market59
Property Features for 2 Hacker Ct
General Information
Standard status
Pending
Size
2,364 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Zoning
RG-5
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,267
Building Details
Building Size
2,364 SF
Year Built
1860
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Redfin Corp.
(617) 340-7803
Listed By:
Ann Marie Silva
(508) 207-3710
Source:
Threehillsres
Added: Jul 11
Changed: Aug 23
Last Checked: Aug 7 at 5:38AM
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 Redfin Corp.
Investment Insights
Based on property information with market context.
This two-unit multifamily residence offers two separate living configurations. The first-floor unit includes two bedrooms and a spacious living room with a functional floor plan. The second-floor unit has four bedrooms and a large living room, and both units benefit from recently updated heating systems.
The property is located in Worcester with convenient access to I-290, I-190, Route 146, and the Mass Pike, along with nearby shopping, restaurants, schools, parks, and public transportation.
Additional on-site features include a large backyard, a detached two-car garage, and a spacious basement that provides ample storage.
The property is located in Worcester with convenient access to I-290, I-190, Route 146, and the Mass Pike, along with nearby shopping, restaurants, schools, parks, and public transportation.
Additional on-site features include a large backyard, a detached two-car garage, and a spacious basement that provides ample storage.
Key Highlights
- Two‑family home built in 1860 with 1st- and 2nd‑floor unit layouts
- 1st‑floor unit includes 2 bedrooms and a spacious living room with a functional floor plan
- 2nd‑floor unit features 4 bedrooms and a large living room
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
$34,716
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
6.20%
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%
$694,320
$694.3K
Cap Rate 7%
$495,943
$495.9K
Cap Rate 9%
$385,733
$385.7K
Market Conditions
NOI Build-Up for 2,364 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
$52.5K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$49.6K $20.98/SF
− OpEx
−$14.9K −$6.29/SF
NOI
$34.7K $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%
$694,320
Cap Rate 7%
$495,943
Cap Rate 9%
$385,733
Alternative Uses
Best Use
Multifamily LT 5
$495.9K
$434.0K – $578.6K
NOI $34,716 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$455.3K
$398.4K – $531.1K
NOI $31,868 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$789.1K
$690.4K – $920.6K
NOI $55,234 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
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 - Two residential units with updated heating systems, large backyard, detached two-car garage, and a spacious basement for storage.
Where is this duplex located?
The property is located at 2 Hacker Ct Worcester, MA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Two‑family home built in 1860 with 1st- and 2nd‑floor unit layouts; 1st‑floor unit includes 2 bedrooms and a spacious living room with a functional floor plan; 2nd‑floor unit features 4 bedrooms and a large living room
