Two-Family Property with Off-Street
For Sale
$560,000
19 Englewood Avenue, Worcester, MA 01603
Two distinct residences offer separate laundry, private utility metering, and flexible owner-occupant or rental use.
Property Size1,907 SF
Price / SF$293.65
Days on Market18
Property Features for 19 Englewood Avenue
General Information
Standard status
Active
Size
1,907 SF
Total Parking Spaces
6
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2BR, 4BR
Multifamily Units
2
Amenities
hardwood flooring
granite/solid-surface counters
laundry
updated kitchen
dishwasher
microwave
full basement
screened porch
fenced yard
storage garage
Building Details
Year Built
1873
Listing Agency:
Keller Williams Pinnacle Central
(508) 754-3020
Listed By:
Miller Real Estate Group
(617) 875-4950
Source:
Sarkisboston
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 30 at 5:38PM
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 Keller Williams Pinnacle Central
Investment Insights
Based on property information with market context.
Built in 1873, this two-family property contains a two-bedroom first-floor residence and a larger four-bedroom unit arranged across two levels. The homes provide two full baths, hardwood flooring, solid-surface counters, and individual laundry areas. The first-floor kitchen has been updated with a dishwasher and microwave. Gas heat and separately metered electricity serve the units, while city water and sewer support the property.
Additional improvements include a full basement, screened porch, fenced yard, storage garage, and six off-street parking spaces. The property is located at 19 Englewood Ave in Worcester, with a Walk Score of 79, a Bike Score of 52, and a Transit Score of 36. Its two-unit configuration supports either owner occupancy with a separate rental residence or leasing both units.
Additional improvements include a full basement, screened porch, fenced yard, storage garage, and six off-street parking spaces. The property is located at 19 Englewood Ave in Worcester, with a Walk Score of 79, a Bike Score of 52, and a Transit Score of 36. Its two-unit configuration supports either owner occupancy with a separate rental residence or leasing both units.
Key Highlights
- Two‑family layout with 6 bedrooms and 2 full baths
- First‑floor 2‑bedroom unit plus 4‑bedroom residence over two levels
- 6 off‑street parking spaces, storage garage, fenced yard, and screened porch
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
$28,005
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
5.00%
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%
$560,100
$560.1K
Cap Rate 7%
$400,071
$400.1K
Cap Rate 9%
$311,167
$311.2K
Market Conditions
NOI Build-Up for 1,907 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
$42.3K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$40.0K $20.98/SF
− OpEx
−$12.0K −$6.29/SF
NOI
$28.0K $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%
$560,100
Cap Rate 7%
$400,071
Cap Rate 9%
$311,167
Alternative Uses
Best Use
Multifamily LT 5
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$367.2K
$321.3K – $428.5K
NOI $25,707 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$636.5K
$557.0K – $742.6K
NOI $44,556 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
761
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 - Two distinct residences offer separate laundry, private utility metering, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 19 Englewood Avenue Worcester, MA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Two‑family layout with 6 bedrooms and 2 full baths; First‑floor 2‑bedroom unit plus 4‑bedroom residence over two levels; 6 off‑street parking spaces, storage garage, fenced yard, and screened porch
