Duplex with Off-Street
14 Reeves Street, Worcester, MA 01607
For Sale
New
$399,000
Two separately metered apartments sit above a full basement, with outdoor storage and a fenced yard.
Property Size1,890 SF
Price / SF$211.11
Days on Market7
Property Features for 14 Reeves Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Amenities
fenced yard
enclosed porch
storage shed
full unfinished basement
Building Details
Year Built
Listing Agency:
Citylight Realty
Listed By:
Michalann Cosme · License MA #9540166
(978) 660-4906
Source:
Merryfoxrealty
Added: Nov 7
Changed: Nov 12
Last Checked: Nov 12 at 7:59AM
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 Citylight Realty
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Investment Insights
Based on property information with market context.
Built in 1895, this Worcester duplex contains two apartments with separate layouts. The first-floor unit has two bedrooms, a living room, kitchen and full bathroom. Upstairs, the one-bedroom apartment includes a separate office or den, along with a living room, kitchen and full bathroom. Electricity is separately metered for each apartment. A full, unfinished basement provides storage and utility space, and the exterior includes vinyl siding, an enclosed porch, a fenced yard and a storage shed. Four off-street parking spaces are provided.
The property is near shopping, public transportation, everyday amenities and major commuter routes.
The property is near shopping, public transportation, everyday amenities and major commuter routes.
Key Highlights
- Two apartments with distinct layouts, including a separate office or den in the upper unit
- Four off‑street parking spaces
- Separate electricity meters for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,755
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,100
$555.1K
Cap Rate 7%
$396,500
$396.5K
Cap Rate 9%
$308,389
$308.4K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$42.0K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$39.7K $20.98/SF
− OpEx
−$11.9K −$6.29/SF
NOI
$27.8K $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 Rate 5%
$555,100
Cap Rate 7%
$396,500
Cap Rate 9%
$308,389
Alternative Uses
Best Use
Multifamily LT 5
$396.5K
$346.9K – $462.6K
NOI $27,755 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.6K
NOI $25,478 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$630.8K
$552.0K – $736.0K
NOI $44,159 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 01607, MA
9,378
Population
4,172
Households
2.2
Avg Household Size
36
Median Age
29%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
3,126
Density / Sq Mi
$66,365
Median Household Income
$46,300
Median Earnings
$1,356
Median Rent
$341,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Worcester, MA
Properties on Market for Duplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered apartments sit above a full basement, with outdoor storage and a fenced yard.
Where is this duplex located?
The property is located at 14 Reeves Street Worcester, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two apartments with distinct layouts, including a separate office or den in the upper unit; Four off‑street parking spaces; Separate electricity meters for each apartment
