Duplex with Detached
For Sale
$599,900
279 Hamilton Street, Worcester, MA 01604
Corner-lot duplex with basement storage, replacement windows, and off-street parking.
Property Size1,908 SF
Price / SF$314.41
Days on Market23
Property Features for 279 Hamilton Street
General Information
Standard status
Active
Size
1,908 SF
Property subtype
Multi-family
Building Details
Year Built
1915
Listing Agency:
Champion Real Estate,Inc.
Listed By:
Rosa Wyse
(508) 755-6545
Source:
Broadboutique
Added: Sep 2
Changed: Sep 23
Last Checked: Sep 24 at 9:59AM
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 Champion Real Estate,Inc.
Investment Insights
Based on property information with market context.
This Worcester duplex, built in 1915, contains two residential units, each with 2 bedrooms and 1 full bathroom. The property includes a full basement for storage, replacement windows, off-street parking, and a detached two-car garage. Unit 2 has tankless heat and hot water installed in 2015, while Unit 1 is equipped with a gas boiler installed in August 2026.
The home occupies a corner lot at 279 Hamilton St and is located minutes from UMass Medical and major routes. Its two-unit configuration, separate residential spaces, and supporting features provide a practical setup for an owner-occupant or rental property owner.
The home occupies a corner lot at 279 Hamilton St and is located minutes from UMass Medical and major routes. Its two-unit configuration, separate residential spaces, and supporting features provide a practical setup for an owner-occupant or rental property owner.
Key Highlights
- Two‑unit duplex on a corner lot
- Each unit offers 2 bedrooms and 1 full bathroom
- Detached two‑car garage plus off‑street parking
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
$28,020
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
4.67%
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%
$560,400
$560.4K
Cap Rate 7%
$400,286
$400.3K
Cap Rate 9%
$311,333
$311.3K
Market Conditions
NOI Build-Up for 1,908 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
$42.4K $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%
$560,400
Cap Rate 7%
$400,286
Cap Rate 9%
$311,333
Alternative Uses
Best Use
Multifamily LT 5
$400.3K
$350.3K – $467.0K
NOI $28,020 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$367.4K
$321.5K – $428.7K
NOI $25,721 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$636.8K
$557.2K – $743.0K
NOI $44,579 @ 7.0% cap · market cap 7.43%
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
327
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
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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 - Corner-lot duplex with basement storage, replacement windows, and off-street parking.
Where is this duplex located?
The property is located at 279 Hamilton 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: Two‑unit duplex on a corner lot; Each unit offers 2 bedrooms and 1 full bathroom; Detached two‑car garage plus off‑street parking
