Two-Family Home with Off-Street
For Sale
$620,000
Pending
1267 Grafton, Worcester, MA 01604
Well-maintained two-family residence with separate utilities, off-street parking, a large yard, and ample storage.
Property Size2,500 SF
Days on Market43
Property Features for 1267 Grafton
General Information
Standard status
Pending
Size
2,500 SF
Total Parking Spaces
7
Property subtype
Residential Income
Zoning
RL7
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,047
Building Details
Building Size
2,500 SF
Year Built
1917
Stories
3
Units
2
Listing Agency:
Castinetti Realty Group
(508) 719-8804
Listed By:
Dawn Szczygiel
(508) 330-7344
Source:
Threehillsres
Added: Jul 25
Changed: Aug 23
Last Checked: Aug 11 at 8:43AM
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 Castinetti Realty Group
Investment Insights
Based on property information with market context.
This spacious, well-maintained two-family home offers flexibility for both owner-occupants and investors. Each unit features a functional layout with bright, sun-filled rooms and separate utilities. The second-floor unit includes four bedrooms, providing generous living space. The property also offers plenty of storage, along with ample off-street parking and a large yard.
Located on Grafton St with convenient access to Rte 20, I-290, and the Mass Pike, the home is close to shopping, restaurants, UMMC hospital, universities, and public transportation.
With two separate living units and independent utilities, the property is positioned for practical long-term occupancy and rental income potential.
Located on Grafton St with convenient access to Rte 20, I-290, and the Mass Pike, the home is close to shopping, restaurants, UMMC hospital, universities, and public transportation.
With two separate living units and independent utilities, the property is positioned for practical long-term occupancy and rental income potential.
Key Highlights
- 1917‑built well‑maintained 2‑family home
- Each unit has separate utilities for owner‑occupants or tenants
- Second‑floor unit features 4 bedrooms
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
$36,713
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
5.92%
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%
$734,260
$734.3K
Cap Rate 7%
$524,471
$524.5K
Cap Rate 9%
$407,922
$407.9K
Market Conditions
NOI Build-Up for 2,500 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
$55.5K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$52.4K $20.98/SF
− OpEx
−$15.7K −$6.29/SF
NOI
$36.7K $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%
$734,260
Cap Rate 7%
$524,471
Cap Rate 9%
$407,922
Alternative Uses
Best Use
Multifamily LT 5
$524.5K
$458.9K – $611.9K
NOI $36,713 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$481.4K
$421.3K – $561.7K
NOI $33,701 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$834.4K
$730.1K – $973.5K
NOI $58,411 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
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 - Well-maintained two-family residence with separate utilities, off-street parking, a large yard, and ample storage.
Where is this duplex located?
The property is located at 1267 Grafton Worcester, MA.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 1917‑built well‑maintained 2‑family home; Each unit has separate utilities for owner‑occupants or tenants; Second‑floor unit features 4 bedrooms
