Webster Two-Family Home with
For Sale
$299,000
149 Lake St, Webster, MA 01570
Two-family home or single-family conversion opportunity in Webster, Massachusetts.
Property Size1,578 SF
Price / SF$189.48
Days on Market128
Property Features for 149 Lake St
General Information
Standard status
Active
Size
1,578 SF
Property subtype
Multi Family
Building Details
Year Built
1950
Listing Agency:
RE/MAX Properties
(401) 639-2906
Listed By:
Scott McGee · License #S32155
(401) 639-2906
Source:
Lockandkeyre
Added: Apr 6
Changed: Aug 9
Last Checked: Apr 20 at 7:28PM
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 RE/MAX Properties
Investment Insights
Based on property information with market context.
This property, offered through an estate sale in as-is condition, is currently zoned as a two-family residence but could be converted into a single-family home. The solidly built structure requires cosmetic updates and renovations throughout. It features 4 bedrooms and 2 full baths, along with a full unfinished basement. Off-street parking is available for 5-6 cars, and there is also a storage shed on the property. The property is connected to town water, sewer, and gas, providing flexibility for various renovation plans. The property size is 1578 square feet.
Key Highlights
- Potential to convert to a single‑family residence or maintain as a two‑family property.
- Ample off‑street parking with space for 5‑6 cars.
- Features four bedrooms and two full bathrooms.
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
$21,331
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
7.13%
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%
$426,620
$426.6K
Cap Rate 7%
$304,729
$304.7K
Cap Rate 9%
$237,011
$237.0K
Market Conditions
NOI Build-Up for 1,578 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
$31.2K $19.80/SF
− Vacancy
−$772 −$0.49/SF
EGI
$30.5K $19.31/SF
− OpEx
−$9.1K −$5.79/SF
NOI
$21.3K $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%
$426,620
Cap Rate 7%
$304,729
Cap Rate 9%
$237,011
Alternative Uses
Best Use
Multifamily LT 5
$304.7K
$266.6K – $355.5K
NOI $21,331 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$265.2K
$232.1K – $309.4K
NOI $18,564 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$538.9K
$471.5K – $628.7K
NOI $37,721 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home or single-family conversion opportunity in Webster, Massachusetts.
Where is this duplex located?
The property is located at 149 Lake St Webster, MA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Potential to convert to a single‑family residence or maintain as a two‑family property.; Ample off‑street parking with space for 5‑6 cars.; Features four bedrooms and two full bathrooms.
