Two-Unit
For Sale
$649,000
Pending
34 Sherbrook Ave, Worcester, MA 01604
Multifamily property with two residential units, each offering two bedrooms and one bathroom.
Property Size2,046 SF
Days on Market134
Property Features for 34 Sherbrook Ave
General Information
Standard status
Pending
Size
2,046 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Zoning
RL-7
Additional Details
Multifamily Units
2
Building Details
Building Size
2,046 SF
Year Built
1890
Stories
2
Listing Agency:
Serhant
(617) 250-0559
Listed By:
The Avenue
Source:
Cjbarrett
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 4:59PM
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 Serhant
Investment Insights
Based on property information with market context.
Located at 34 Sherbrook Ave in Worcester, this 2,046-square-foot duplex contains two residential units, each configured with two bedrooms and one bathroom. Built in 1890, the property is designated RL-7 and provides a straightforward multifamily layout for residential occupancy.
Each unit includes a central living arrangement connecting the kitchen, living room, and dining area, with bedrooms positioned apart from the shared living spaces. Windows provide natural light throughout the interiors. A fenced yard adds usable outdoor space, while the property is situated near Lake Quinsigamond and neighborhood resources.
Each unit includes a central living arrangement connecting the kitchen, living room, and dining area, with bedrooms positioned apart from the shared living spaces. Windows provide natural light throughout the interiors. A fenced yard adds usable outdoor space, while the property is situated near Lake Quinsigamond and neighborhood resources.
Key Highlights
- Two‑unit duplex with two 2‑bedroom, 1‑bath units
- 2,046 SF multifamily property
- RL‑7 zoning
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
$30,046
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
4.63%
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%
$600,920
$600.9K
Cap Rate 7%
$429,229
$429.2K
Cap Rate 9%
$333,844
$333.8K
Market Conditions
NOI Build-Up for 2,046 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
$45.4K $22.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$42.9K $20.98/SF
− OpEx
−$12.9K −$6.29/SF
NOI
$30.0K $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%
$600,920
Cap Rate 7%
$429,229
Cap Rate 9%
$333,844
Alternative Uses
Best Use
Multifamily LT 5
$429.2K
$375.6K – $500.8K
NOI $30,046 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$394.0K
$344.8K – $459.7K
NOI $27,581 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$682.9K
$597.6K – $796.7K
NOI $47,804 @ 7.0% cap · market cap 7.37%
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
471
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 - Multifamily property with two residential units, each offering two bedrooms and one bathroom.
Where is this duplex located?
The property is located at 34 Sherbrook Ave Worcester, MA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑unit duplex with two 2‑bedroom, 1‑bath units; 2,046 SF multifamily property; RL‑7 zoning
