Duplex with Two-Car
For Sale
$599,000
30 Northridge St, Worcester, MA 01603
Two three-bedroom residences include outdoor space, basement laundry, and shared garage parking.
Property Size2,208 SF
Price / SF$271.29
Days on Market34
Property Features for 30 Northridge St
General Information
Standard status
Active
Size
2,208 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,236
Listing Agency:
eXp Realty LLC - Corporate Office
(617) 816-5492
Listed By:
Kathryn Raymond
(617) 816-5492
Source:
Exprealty
Added: Jul 29
Changed: Aug 31
Last Checked: Aug 30 at 9:12PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
This two-family duplex contains two separate three-bedroom residences with spacious living areas and large kitchens. The first unit includes an updated kitchen with a modernized finish, while both residences benefit from practical layouts suited to everyday living. Basement laundry and additional storage serve the property, and a shared patio and yard provide outdoor space for dining, gardening, or entertaining. A two-car garage adds off-street parking and storage flexibility. Located at 30 Northridge St in Worcester, Massachusetts, the property offers a combination of residential space, shared amenities, and separate-unit functionality for an owner-occupant or investor.
Key Highlights
- Two separate three‑bedroom residences
- Unit 1 features an updated kitchen
- Shared patio and yard
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
$32,425
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
5.41%
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%
$648,500
$648.5K
Cap Rate 7%
$463,214
$463.2K
Cap Rate 9%
$360,278
$360.3K
Market Conditions
NOI Build-Up for 2,208 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
$49.0K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$46.3K $20.98/SF
− OpEx
−$13.9K −$6.29/SF
NOI
$32.4K $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%
$648,500
Cap Rate 7%
$463,214
Cap Rate 9%
$360,278
Alternative Uses
Best Use
Multifamily LT 5
$463.2K
$405.3K – $540.4K
NOI $32,425 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$425.2K
$372.1K – $496.1K
NOI $29,765 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$737.0K
$644.9K – $859.8K
NOI $51,589 @ 7.0% cap · market cap 8.61%
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
1,582
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
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 three-bedroom residences include outdoor space, basement laundry, and shared garage parking.
Where is this duplex located?
The property is located at 30 Northridge St Worcester, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two separate three‑bedroom residences; Unit 1 features an updated kitchen; Shared patio and yard
