Well-Maintained Two-Family
For Sale
$519,900
Pending
21 Emerald Ave, Webster, MA 01570
Two spacious 3BD units each offer off-street parking and in-unit laundry hookups.
Property Size2,896 SF
Days on Market48
Property Features for 21 Emerald Ave
General Information
Standard status
Pending
Size
2,896 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
MR-12,
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,617
Amenities
fenced backyard
off-street parking
sunroom
Building Details
Building Size
2,896 SF
Year Built
1919
Stories
3
Units
2
Listing Agency:
D & R Realty
(617) 714-5674
Listed By:
Danielle Freudenthal · License #9568420
(508) 523-4053
Source:
Aucoinryanrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 1 at 6:55AM
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 D & R Realty
Investment Insights
Based on property information with market context.
This well maintained two-family residence features two spacious 3-bedroom layouts. Unit 1 includes a renovated kitchen with granite countertops, a butcher block island, and stainless steel appliances, along with an open living/dining arrangement and a large bath with a tub/shower combination. Unit 1 also has dedicated laundry hookups in the basement. Unit 2 offers hardwood flooring, spacious living and dining rooms, and a large kitchen with white shaker cabinets, a stainless steel refrigerator and dishwasher, plus pantry space with additional shelving and sink. Unit 2 includes in unit washer and dryer hookups and a bright, dedicated sunroom at the front of the home.
Outside, the property has a large fully fenced backyard and dedicated off-street parking in both the front and rear for each unit. The home has numerous updates and capital improvements completed over the years.
With two separate 3BD units and dedicated parking, this property is positioned for both owner-occupants and investors seeking a move-in ready residential income asset.
Outside, the property has a large fully fenced backyard and dedicated off-street parking in both the front and rear for each unit. The home has numerous updates and capital improvements completed over the years.
With two separate 3BD units and dedicated parking, this property is positioned for both owner-occupants and investors seeking a move-in ready residential income asset.
Key Highlights
- Two‑family home built in 1919 with two 3BD units
- Unit 1 includes a renovated kitchen with granite countertops, butcher block island, and stainless steel appliances
- Unit 2 features hardwood floors and a dedicated front sunroom, plus a large kitchen with white shaker cabinets and stainless steel dishwasher and refrigerator
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
$39,147
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
7.53%
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%
$782,940
$782.9K
Cap Rate 7%
$559,243
$559.2K
Cap Rate 9%
$434,967
$435.0K
Market Conditions
NOI Build-Up for 2,896 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
$57.3K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$55.9K $19.31/SF
− OpEx
−$16.8K −$5.79/SF
NOI
$39.1K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$782,940
Cap Rate 7%
$559,243
Cap Rate 9%
$434,967
Alternative Uses
Best Use
Multifamily LT 5
$559.2K
$489.3K – $652.5K
NOI $39,147 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$486.7K
$425.9K – $567.8K
NOI $34,068 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$988.9K
$865.3K – $1.15M
NOI $69,226 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 01570, MA
17,776
Population
8,211
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,434
Density / Sq Mi
$68,934
Median Household Income
$43,595
Median Earnings
$1,135
Median Rent
$339,600
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 spacious 3BD units each offer off-street parking and in-unit laundry hookups.
Where is this duplex located?
The property is located at 21 Emerald Ave Webster, MA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Two‑family home built in 1919 with two 3BD units; Unit 1 includes a renovated kitchen with granite countertops, butcher block island, and stainless steel appliances; Unit 2 features hardwood floors and a dedicated front sunroom, plus a large kitchen with white shaker cabinets and stainless steel dishwasher and refrigerator
