Two-Family Duplex with
New
For Sale
$575,000
16 Dartmouth St, Worcester, MA 01604
Two three-bedroom units with updated water heaters, replacement windows, and separate laundry areas.
Property Size2,422 SF
Price / SF$237.41
Days on Market2
Property Features for 16 Dartmouth St
General Information
Standard status
Active
Size
2,422 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RG-5
Net Operating Income
$26,400
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,029
Amenities
fenced-in yard
Building Details
Building Size
2,422 SF
Year Built
1900
Listing Agency:
RE/MAX Vision
(508) 439-3002
Listed By:
Colleen Griffin · License #9063104
Source:
413realestate
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 4:31AM
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 Vision
Investment Insights
Based on property information with market context.
This two-family duplex contains 2,422 square feet and was built in 1900. Each unit offers three bedrooms, generous living and dining rooms, a cabinet-filled eat-in kitchen, and a laundry area or closet. Replacement windows and updated water heaters serve the property, while a new roof is scheduled for installation before closing. A walk-up provides access to the third floor, and the RG-5 zoning is identified for the property.
Exterior features include a fenced yard and off-street parking for 4 cars. Regional access is available via I-290, I-495, Route 146, Route 20, and the Mass Pike. The property is in Worcester, near colleges, cultural attractions, entertainment venues, and sports facilities.
Exterior features include a fenced yard and off-street parking for 4 cars. Regional access is available via I-290, I-495, Route 146, Route 20, and the Mass Pike. The property is in Worcester, near colleges, cultural attractions, entertainment venues, and sports facilities.
Key Highlights
- Two‑family property with 2,422 square feet, built in 1900
- Two units, each with 3 bedrooms
- New roof to be installed prior to closing
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
$35,568
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
6.19%
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%
$711,360
$711.4K
Cap Rate 7%
$508,114
$508.1K
Cap Rate 9%
$395,200
$395.2K
Market Conditions
NOI Build-Up for 2,422 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
$53.8K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$50.8K $20.98/SF
− OpEx
−$15.2K −$6.29/SF
NOI
$35.6K $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%
$711,360
Cap Rate 7%
$508,114
Cap Rate 9%
$395,200
Alternative Uses
Best Use
Multifamily LT 5
$508.1K
$444.6K – $592.8K
NOI $35,568 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$466.4K
$408.1K – $544.2K
NOI $32,650 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$808.4K
$707.4K – $943.2K
NOI $56,589 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
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 three-bedroom units with updated water heaters, replacement windows, and separate laundry areas.
Where is this duplex located?
The property is located at 16 Dartmouth St Worcester, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑family property with 2,422 square feet, built in 1900; Two units, each with 3 bedrooms; New roof to be installed prior to closing
