Duplex with Third-Floor
New
For Sale
$699,900
15 Maple Tree Ln, Worcester, MA 01602
Two residential units are complemented by additional space on the upper level.
Property Size2,400 SF
Days on Market4
Property Features for 15 Maple Tree Ln
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,184
Building Details
Building Size
2,400 SF
Year Built
1870
Stories
3
Units
2
Listing Agency:
NextHome, Inc
Listed By:
Santana Team · License #PersonLicenseNumber
(617) 858-5475
Source:
Elliman
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 11:59AM
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 NextHome, Inc
Investment Insights
Based on property information with market context.
Built in 1870, this Worcester duplex contains two separate residential units and additional space on the third floor. The upper-level area adds flexibility to the property’s existing configuration.
Key Highlights
- Two separate residential units
- Additional space on the third floor
- Year built: 1870
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
$35,245
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
5.04%
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%
$704,900
$704.9K
Cap Rate 7%
$503,500
$503.5K
Cap Rate 9%
$391,611
$391.6K
Market Conditions
NOI Build-Up for 2,400 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
$53.3K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$50.3K $20.98/SF
− OpEx
−$15.1K −$6.29/SF
NOI
$35.2K $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%
$704,900
Cap Rate 7%
$503,500
Cap Rate 9%
$391,611
Alternative Uses
Best Use
Multifamily LT 5
$503.5K
$440.6K – $587.4K
NOI $35,245 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$462.2K
$404.4K – $539.2K
NOI $32,353 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$801.1K
$700.9K – $934.6K
NOI $56,075 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 01602, MA
25,382
Population
10,483
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
4,376
Density / Sq Mi
$94,351
Median Household Income
$47,259
Median Earnings
$1,471
Median Rent
$380,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 are complemented by additional space on the upper level.
Where is this duplex located?
The property is located at 15 Maple Tree Ln Worcester, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two separate residential units; Additional space on the third floor; Year built: 1870
