Colonial Duplex with Walkout
For Sale
$599,900
19 Denmark Street, Worcester, MA 01606
Colonial-style duplex with a main residence plus a new walkout basement apartment and off-street parking.
Property Size3,600 SF
Price / SF$166.64
Days on Market124
Property Features for 19 Denmark Street
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Zoning
RG-5
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,673
Building Details
Building Size
3,600 SF
Year Built
1880
Stories
4
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 7
Changed: Sep 6
Last Checked: Sep 6 at 5:43AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This Colonial duplex includes a main house with 10 rooms and 6+ bedrooms, along with an office/den, three full baths, and hardwood floors throughout. The home spans three levels and features a 3rd-floor suite with an additional kitchen. Laundry hookups are available in the main house.
The newly built walkout basement apartment is delivered vacant and configured as an open-concept setup with two rooms, featuring exposed brick and stone walls, polished cement flooring, handmade cabinetry, and laundry hookups.
The property has three electric meters and offers off-street parking with a small 2-car garage plus six additional spaces. It is located on a quiet, private street directly across from Green Hill Park, with convenient access to a nearby golf course, trails, and shopping and entertainment, as well as close highway access.
The newly built walkout basement apartment is delivered vacant and configured as an open-concept setup with two rooms, featuring exposed brick and stone walls, polished cement flooring, handmade cabinetry, and laundry hookups.
The property has three electric meters and offers off-street parking with a small 2-car garage plus six additional spaces. It is located on a quiet, private street directly across from Green Hill Park, with convenient access to a nearby golf course, trails, and shopping and entertainment, as well as close highway access.
Key Highlights
- 1880 Colonial on 3 levels with a main house featuring 10 rooms, 6+ bedrooms plus office/den, and hardwood floors throughout
- Main home includes 3 full baths and laundry hookups
- 3rd floor suite plus an additional kitchen
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
$52,867
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
8.81%
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%
$1,057,340
$1.1M
Cap Rate 7%
$755,243
$755.2K
Cap Rate 9%
$587,411
$587.4K
Market Conditions
NOI Build-Up for 3,600 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
$79.9K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$75.5K $20.98/SF
− OpEx
−$22.7K −$6.29/SF
NOI
$52.9K $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%
$1,057,340
Cap Rate 7%
$755,243
Cap Rate 9%
$587,411
Alternative Uses
Best Use
Multifamily LT 5
$755.2K
$660.8K – $881.1K
NOI $52,867 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$693.3K
$606.6K – $808.8K
NOI $48,530 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,112 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
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 - Colonial-style duplex with a main residence plus a new walkout basement apartment and off-street parking.
Where is this duplex located?
The property is located at 19 Denmark Street Worcester, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 1880 Colonial on 3 levels with a main house featuring 10 rooms, 6+ bedrooms plus office/den, and hardwood floors throughout; Main home includes 3 full baths and laundry hookups; 3rd floor suite plus an additional kitchen
