Updated Two-Family
For Sale
$519,900
140 School Street, Webster, MA 01570
Two residential units offer separate electric, gas heat, off-street parking, and a fenced yard.
Property Size2,407 SF
Price / SF$215
Days on Market149
Property Features for 140 School Street
General Information
Standard status
Active
Size
2,407 SF
Total Parking Spaces
4
Property subtype
Multi-family / 2 Family
Zoning
MR-12,
Net Operating Income
$18,000
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,462
Amenities
in-unit laundry
garage
fenced yard
enclosed porch
No
Wood, Hardwood
Range, Dishwasher, Refrigerator, Freezer, Microwave
2.0
Cathedral/Vaulted Ceilings, Lead Certification Available, Stone/Granite/Solid Counters, Upgraded Cabinets, Upgraded Countertops, Bathroom With Tub & Shower, Remodeled, Ceiling Fan(s), Storage, Living Room, Dining Room, Kitchen, Laundry Room, Office/Den
2
2.00
Shingle
Level
Building Details
Year Built
1880
Listing Agency:
Coldwell Banker Realty - Worcester
(508) 795-7500
Listed By:
Lee Joseph · License #9010213
(508) 795-7500
Source:
Compass
Added: Apr 5
Changed: Aug 30
Last Checked: Aug 30 at 11:27PM
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 Coldwell Banker Realty - Worcester
Investment Insights
Based on property information with market context.
Built in 1880, this 2407 SF duplex contains two residential units with similar layouts. The first-floor unit includes hardwood flooring, metal ceilings in the living and dining rooms, an updated kitchen with Corian counters and luxury vinyl flooring, an expanded full bath, and in-unit laundry. The second-floor unit adds an enclosed porch and offers a comparable arrangement.
The property includes a garage, up to 5 off-street parking spaces, a level fenced yard, gas heat and hot water, and separate electric service with a landlord meter. Delead Certificates are also in place. Located at 140 School Street in Webster, MA, the property is zoned MR-12.
The property includes a garage, up to 5 off-street parking spaces, a level fenced yard, gas heat and hot water, and separate electric service with a landlord meter. Delead Certificates are also in place. Located at 140 School Street in Webster, MA, the property is zoned MR-12.
Key Highlights
- 2407 SF duplex with 2 residential units
- First‑floor unit has hardwood floors, metal ceilings, updated kitchen, expanded full bath, and in‑unit laundry
- Second‑floor unit includes an enclosed porch and similar layout
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
$32,537
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
6.26%
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%
$650,740
$650.7K
Cap Rate 7%
$464,814
$464.8K
Cap Rate 9%
$361,522
$361.5K
Market Conditions
NOI Build-Up for 2,407 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
$47.7K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$46.5K $19.31/SF
− OpEx
−$13.9K −$5.79/SF
NOI
$32.5K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$650,740
Cap Rate 7%
$464,814
Cap Rate 9%
$361,522
Alternative Uses
Best Use
Multifamily LT 5
$464.8K
$406.7K – $542.3K
NOI $32,537 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$404.5K
$354.0K – $471.9K
NOI $28,316 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$822.0K
$719.2K – $959.0K
NOI $57,537 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 01570, MA
17,776
Population
8,211
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,434
Density / Sq Mi
$68,934
Median Household Income
$43,595
Median Earnings
$1,135
Median Rent
$339,600
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 offer separate electric, gas heat, off-street parking, and a fenced yard.
Where is this duplex located?
The property is located at 140 School Street Webster, MA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: 2407 SF duplex with 2 residential units; First‑floor unit has hardwood floors, metal ceilings, updated kitchen, expanded full bath, and in‑unit laundry; Second‑floor unit includes an enclosed porch and similar layout
