Duplex with Two-Bay
For Sale
$549,900
3 Stidsen Way, Worcester, MA 01604
Two-family property offering separate utilities, off-street parking, and convenient access to area transportation and amenities.
Property Size1,590 SF
Price / SF$345.85
Days on Market12
Property Features for 3 Stidsen Way
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
garage
Building Details
Year Built
1923
Listing Agency:
Coldwell Banker Realty - Boston
(413) 786-0584
Listed By:
Waypoint Realty Group · License #452508574
(508) 867-2800
Source:
Miketoomeyrealestate
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 5:56PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
Built in 1923, this 1,590-square-foot duplex includes two residential units and a two-bay garage. The property also provides off-street parking and separate utilities, supporting straightforward occupancy and utility management. Its two-family layout may suit an investor or an owner-occupant seeking a residence with additional rental space.
The property is located at 3 Stidsen Way in Worcester, near major highways, shopping, restaurants, schools, and public transportation. Showings require 48 hours' notice.
The property is located at 3 Stidsen Way in Worcester, near major highways, shopping, restaurants, schools, and public transportation. Showings require 48 hours' notice.
Key Highlights
- 1,590 SF duplex with two residential units
- Two‑bay garage included
- Separate utilities for the residential units
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
$23,350
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
4.25%
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%
$467,000
$467.0K
Cap Rate 7%
$333,571
$333.6K
Cap Rate 9%
$259,444
$259.4K
Market Conditions
NOI Build-Up for 1,590 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
$35.3K $22.20/SF
− Vacancy
−$1.9K −$1.22/SF
EGI
$33.4K $20.98/SF
− OpEx
−$10.0K −$6.29/SF
NOI
$23.3K $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 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%
$467,000
Cap Rate 7%
$333,571
Cap Rate 9%
$259,444
Alternative Uses
Best Use
Multifamily LT 5
$333.6K
$291.9K – $389.2K
NOI $23,350 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$306.2K
$267.9K – $357.2K
NOI $21,434 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$530.7K
$464.4K – $619.2K
NOI $37,150 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
434
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
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-family property offering separate utilities, off-street parking, and convenient access to area transportation and amenities.
Where is this duplex located?
The property is located at 3 Stidsen Way Worcester, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1,590 SF duplex with two residential units; Two‑bay garage included; Separate utilities for the residential units
