Two-Family Home with
For Sale
$499,900
155 Grand St, Worcester, MA 01603
Duplex with a finished lower-level area, established occupancy, and convenient access to transportation and nearby educational destinations.
Property Size2,157 SF
Lot Size0.16 Acres
Price / SF$231.76
Days on Market105
Property Features for 155 Grand St
General Information
Standard status
Active
Size
2,157 SF
Total Parking Spaces
6
Lot size
0.16 Acres
Property subtype
Multi-Family
Zoning
ML2
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
Full
Tile, Laminate, Hardwood
Range, Refrigerator
Living Room, Dining Room, Kitchen
No
Shingle
Public Transportation, Park, Highway Access, Private School, University
for Gas Range, for Electric Range
6
Building Details
Building Size
2,157 SF
Year Built
1920
Stories
3
Listing Agency:
Coldwell Banker Realty - Worcester
(508) 410-2724
Listed By:
Van Khanh Nguyen · License #9044684
Source:
Gundersheimgroup
Added: May 19
Changed: Aug 29
Last Checked: May 28 at 4:59AM
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 Coldwell Banker Realty - Worcester
Investment Insights
Based on property information with market context.
This 1920-built duplex contains 2,157 square feet across two residential units. The second unit is arranged on one level with approximately 855 square feet, two bedrooms, and existing long-term tenants. The first unit offers three bedrooms along with a partially finished basement featuring a half bathroom, creating additional space for recreation, storage, or a workshop. Interior finishes include tile, laminate, and hardwood, while the kitchens include ranges and refrigerators.
The property includes a 7,131-square-foot private yard and is zoned ML2. Transportation options, a park, highway access, a private school, and a university are identified nearby. Route 146 and Route 290 provide regional highway connections, while the property’s residential layout supports both owner-occupancy and continued rental use.
The property includes a 7,131-square-foot private yard and is zoned ML2. Transportation options, a park, highway access, a private school, and a university are identified nearby. Route 146 and Route 290 provide regional highway connections, while the property’s residential layout supports both owner-occupancy and continued rental use.
Key Highlights
- Two‑family duplex totaling 2,157 square feet
- Second unit measures approximately 855 square feet and includes 2 bedrooms
- First unit offers 3 bedrooms and a partially finished basement with half bathroom
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
$31,676
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
6.34%
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%
$633,520
$633.5K
Cap Rate 7%
$452,514
$452.5K
Cap Rate 9%
$351,956
$352.0K
Market Conditions
NOI Build-Up for 2,157 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
$47.9K $22.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$45.3K $20.98/SF
− OpEx
−$13.6K −$6.29/SF
NOI
$31.7K $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%
$633,520
Cap Rate 7%
$452,514
Cap Rate 9%
$351,956
Alternative Uses
Best Use
Multifamily LT 5
$452.5K
$396.0K – $527.9K
NOI $31,676 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$415.4K
$363.5K – $484.6K
NOI $29,077 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,397 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
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 - Duplex with a finished lower-level area, established occupancy, and convenient access to transportation and nearby educational destinations.
Where is this duplex located?
The property is located at 155 Grand St Worcester, MA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑family duplex totaling 2,157 square feet; Second unit measures approximately 855 square feet and includes 2 bedrooms; First unit offers 3 bedrooms and a partially finished basement with half bathroom
