Two-Family Home with Rear
For Sale
$529,000
312 Plantation St, Worcester, MA 01604
Duplex with two-bedroom units, updated windows, private outdoor space, and off-street parking near Shrewsbury Street amenities.
Property Size2,272 SF
Price / SF$232.83
Days on Market13
Property Features for 312 Plantation St
General Information
Standard status
Active
Size
2,272 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,290
Amenities
decks
fenced backyard
Building Details
Year Built
1853
Listing Agency:
Lake Realty
(508) 847-1923
Listed By:
T. A. King
(508) 847-1923
Source:
Exprealty
Added: Jul 31
Changed: Aug 7
Last Checked: Aug 12 at 1:32PM
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 Lake Realty
Investment Insights
Based on property information with market context.
This Worcester duplex contains two five-room units, with two bedrooms in each residence. The property measures 2,272 square feet and combines a stucco exterior with a rear addition clad in vinyl siding. Updated windows are installed throughout the home, while two rear decks expand the usable outdoor area.
The decks measure approximately 11' x 21' and 10' x 16' and overlook a flat, fenced backyard. Off-street parking accommodates six plus vehicles. The property is near Shrewsbury Street restaurants, entertainment, and nightlife, with UMass Memorial Medical Center located just minutes away. Originally constructed as a single-family home in 1853, the building was later converted to its current two-family configuration.
The decks measure approximately 11' x 21' and 10' x 16' and overlook a flat, fenced backyard. Off-street parking accommodates six plus vehicles. The property is near Shrewsbury Street restaurants, entertainment, and nightlife, with UMass Memorial Medical Center located just minutes away. Originally constructed as a single-family home in 1853, the building was later converted to its current two-family configuration.
Key Highlights
- Two five‑room units, each with two bedrooms
- 2,272 square feet in a two‑family configuration
- Originally built in 1853 and later converted from single‑family use
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
$33,365
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
6.31%
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%
$667,300
$667.3K
Cap Rate 7%
$476,643
$476.6K
Cap Rate 9%
$370,722
$370.7K
Market Conditions
NOI Build-Up for 2,272 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
$50.4K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$47.7K $20.98/SF
− OpEx
−$14.3K −$6.29/SF
NOI
$33.4K $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%
$667,300
Cap Rate 7%
$476,643
Cap Rate 9%
$370,722
Alternative Uses
Best Use
Multifamily LT 5
$476.6K
$417.1K – $556.1K
NOI $33,365 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$437.5K
$382.9K – $510.5K
NOI $30,628 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$758.3K
$663.6K – $884.7K
NOI $53,084 @ 7.0% cap · market cap 10.03%
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
1,774
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two-bedroom units, updated windows, private outdoor space, and off-street parking near Shrewsbury Street amenities.
Where is this duplex located?
The property is located at 312 Plantation St Worcester, MA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two five‑room units, each with two bedrooms; 2,272 square feet in a two‑family configuration; Originally built in 1853 and later converted from single‑family use
