Two-Family Colonial with Separate
352 Lake Ave., Worcester, MA 01604
For Sale
New
$619,000
Residential Income, Worcester, MA
Property Size2,296 SF
Lot Size0.75 Acres
Price / SF$269.60
Days on Market4
Property Features for 352 Lake Ave.
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
front porch
central air conditioning
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
RE/MAX Vision · RE/MAX International
Listed By:
Jeff Burk · License MA #9035530
(508) 595-9900
Added: Nov 10
Changed: Nov 11
Last Checked: Nov 13 at 11:06PM
MLS# 73600766
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.
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Investment Insights
Based on property information with market context.
Built in 1988, this 2,296-square-foot Colonial contains a main residence and a separate living unit. The main home has an open living and dining area, an eat-in kitchen with an island, two bedrooms, and a full bathroom. The second unit has its own entrance, living room, kitchenette, bedroom, and full bathroom. The property also includes a full-width front porch and a detached two-car garage with storage space.
Set on 0.75 acres and zoned RL-7, the property has a new furnace, central air conditioning, and a basement system with a sump pump. UMass Medical, major routes, shopping, and dining are noted among nearby amenities.
Set on 0.75 acres and zoned RL-7, the property has a new furnace, central air conditioning, and a basement system with a sump pump. UMass Medical, major routes, shopping, and dining are noted among nearby amenities.
Key Highlights
- Two living units, including a separate unit with its own entrance
- 2,296 square feet on a 0.75‑acre lot
- Detached two‑car garage with additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,717
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,340
$674.3K
Cap Rate 7%
$481,671
$481.7K
Cap Rate 9%
$374,633
$374.6K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$51.0K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$48.2K $20.98/SF
− OpEx
−$14.5K −$6.29/SF
NOI
$33.7K $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 Rate 5%
$674,340
Cap Rate 7%
$481,671
Cap Rate 9%
$374,633
Alternative Uses
Best Use
Multifamily LT 5
$481.7K
$421.5K – $562.0K
NOI $33,717 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$442.2K
$386.9K – $515.9K
NOI $30,951 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$766.4K
$670.6K – $894.1K
NOI $53,645 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
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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
$321,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Worcester, MA
Properties on Market for Duplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A detached two-car garage, full-width front porch, and recent mechanical and basement improvements add practical amenities.
Where is this duplex located?
The property is located at 352 Lake Ave. Worcester, MA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Two living units, including a separate unit with its own entrance; 2,296 square feet on a 0.75‑acre lot; Detached two‑car garage with additional storage
