Updated Duplex with Central
New
For Sale
$599,900
35 Mckinley, Worcester, MA 01605
Residential Income, Worcester, MA
Property Size1,890 SF
Lot Size0.10 Acres
Price / SF$317.41
Days on Market2
Property Features for 35 Mckinley
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
6
Rooms
Bedroom 4, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 3
Parking
6
Elementary school
Choice Of 2
Middle school
Burncoat Middle School
High school
Choice Of 2
Directions
WAZE App/ Google Maps
Standard status
Active
APN
1771039
Size
1,890 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6447
Building Details
Year built
1909
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Synergy · RE/MAX International
(508) 857-5392
Listed By:
Luis B Martins
(774) 360-1997
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 9:06AM
MLS# 73574857
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,890-square-foot duplex, built in 1909, combines preserved residential character with substantial modern improvements. The two units feature high ceilings, natural light, hardwood flooring, updated kitchens with granite counters, stainless steel appliances, and ample cabinetry, along with refreshed bathrooms and contemporary tile finishes. High-efficiency Navien tankless systems, central air conditioning serving both units, and a new sewer connection add functional upgrades to the property. The parcel encompasses 0.0995 acres and carries RG-5 zoning.
The property is located at 35 Mckinley in Worcester, near Lincoln Plaza, Greendale, WPI, UMass Memorial Medical Center, Green Hill Park, and area schools. I-290 provides access to Worcester and surrounding communities. The combination of two residential units, updated interiors, and upgraded building systems supports both owner-occupant and investment use as described in the property information.
The property is located at 35 Mckinley in Worcester, near Lincoln Plaza, Greendale, WPI, UMass Memorial Medical Center, Green Hill Park, and area schools. I-290 provides access to Worcester and surrounding communities. The combination of two residential units, updated interiors, and upgraded building systems supports both owner-occupant and investment use as described in the property information.
Key Highlights
- Duplex with two residential units and 1,890 square feet
- 0.0995‑acre parcel with RG‑5 zoning
- Built in 1909 with hardwood flooring and high ceilings
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
$27,755
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%
$555,100
$555.1K
Cap Rate 7%
$396,500
$396.5K
Cap Rate 9%
$308,389
$308.4K
Market Conditions
NOI Build-Up for 1,890 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
$42.0K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$39.7K $20.98/SF
− OpEx
−$11.9K −$6.29/SF
NOI
$27.8K $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%
$555,100
Cap Rate 7%
$396,500
Cap Rate 9%
$308,389
Alternative Uses
Best Use
Multifamily LT 5
$396.5K
$346.9K – $462.6K
NOI $27,755 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.6K
NOI $25,478 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$630.8K
$552.0K – $736.0K
NOI $44,159 @ 7.0% cap · market cap 7.36%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
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 - Two-unit property with updated kitchens, bathrooms, and high-efficiency mechanical systems.
Where is this duplex located?
The property is located at 35 Mckinley Worcester, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Duplex with two residential units and 1,890 square feet; 0.0995‑acre parcel with RG‑5 zoning; Built in 1909 with hardwood flooring and high ceilings
