Vacant Two-Unit
New
For Sale
$399,000
3 Clifton Ter, Worcester, MA 01610
Both residences are vacant, allowing the next owner to determine their use.
Property Size1,486 SF
Days on Market4
Property Features for 3 Clifton Ter
General Information
Standard status
Active
Size
1,486 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,710
Building Details
Building Size
1,486 SF
Year Built
1890
Buildings
1
Stories
2
Units
2
Listing Agency:
The LGCY Group LLC
Listed By:
Jaquaine Coe · License #423727
(508) 989-6943
Source:
Elliman
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 8:41AM
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 The LGCY Group LLC
Investment Insights
Based on property information with market context.
This Worcester duplex contains two vacant residences and was built in 1890. The unoccupied units leave their next use to the incoming owner.
At 3 Clifton Ter, the property has a Walk Score of 92, a Bike Score of 55, and a Transit Score of 40.
At 3 Clifton Ter, the property has a Walk Score of 92, a Bike Score of 55, and a Transit Score of 40.
Key Highlights
- Two residential units are vacant
- Built in 1890
- Walk Score: 92
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
$21,822
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
5.47%
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%
$436,440
$436.4K
Cap Rate 7%
$311,743
$311.7K
Cap Rate 9%
$242,467
$242.5K
Market Conditions
NOI Build-Up for 1,486 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
$33.0K $22.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$31.2K $20.98/SF
− OpEx
−$9.4K −$6.29/SF
NOI
$21.8K $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%
$436,440
Cap Rate 7%
$311,743
Cap Rate 9%
$242,467
Alternative Uses
Best Use
Multifamily LT 5
$311.7K
$272.8K – $363.7K
NOI $21,822 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$286.2K
$250.4K – $333.9K
NOI $20,032 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$496.0K
$434.0K – $578.7K
NOI $34,720 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,835
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are vacant, allowing the next owner to determine their use.
Where is this duplex located?
The property is located at 3 Clifton Ter Worcester, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residential units are vacant; Built in 1890; Walk Score: 92
