Duplex with Fenced
For Sale
$550,000
Pending
24 Newbury St, Worcester, MA 01609
Two-level upper residence with driveway parking and outdoor space beside an area park.
Property Size2,537 SF
Days on Market27
Property Features for 24 Newbury St
General Information
Standard status
Pending
Size
2,537 SF
Total Parking Spaces
4
Property subtype
Investment
Additional Details
Public Transit
Yes
Unit Mix
1 x 2BR/1BA, 1 x 4BR
Taxes and HOA fees
Annual Taxes
$5,101
Amenities
fenced yard
Building Details
Building Size
2,537 SF
Year Built
1890
Stories
3
Units
2
Listed By:
Peter Costa
(617) 290-2795
Source:
Elliman
Added: Sep 10
Changed: Oct 1
Last Checked: Oct 5 at 6:16PM
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 Peter Costa
Investment Insights
Based on property information with market context.
This duplex includes a first-floor residence with two bedrooms and one bathroom, along with an upper residence configured across two levels with four bedrooms. The property also provides a fenced yard and a driveway with room for four cars, adding practical outdoor and parking capacity. Built in 1890, the home is positioned next to an area park at 24 Newbury St in Worcester, Massachusetts. Walk Score is 85, Bike Score is 58, and Transit Score is 50, reflecting walkable surroundings, bikeable conditions, and access to transit. The layout supports an owner-occupant seeking a home with rental income from the additional residence.
Key Highlights
- First‑floor unit with 2 bedrooms and 1 bathroom
- Upper residence includes 4 bedrooms across two levels
- Driveway provides space for four cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,257
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$745,140
$745.1K
Cap Rate 7%
$532,243
$532.2K
Cap Rate 9%
$413,967
$414.0K
Market Conditions
NOI Build-Up for 2,537 SF
Gross rent
$56.3K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$53.2K $20.98/SF
− OpEx
−$16.0K −$6.29/SF
NOI
$37.3K $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 Rate 5%
$745,140
Cap Rate 7%
$532,243
Cap Rate 9%
$413,967
Alternative Uses
Best Use
Multifamily LT 5
$532.2K
$465.7K – $621.0K
NOI $37,257 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$488.6K
$427.5K – $570.0K
NOI $34,200 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$846.8K
$741.0K – $987.9K
NOI $59,276 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 01609, MA
23,870
Population
9,126
Households
2.6
Avg Household Size
29
Median Age
49%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
6,451
Density / Sq Mi
$61,411
Median Household Income
$32,399
Median Earnings
$1,212
Median Rent
$422,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level upper residence with driveway parking and outdoor space beside an area park.
Where is this duplex located?
The property is located at 24 Newbury St Worcester, MA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: First‑floor unit with 2 bedrooms and 1 bathroom; Upper residence includes 4 bedrooms across two levels; Driveway provides space for four cars
