Two-Unit Duplex with
New
For Sale
$435,000
37 Coburn Avenue, Worcester, MA 01604
Separate laundry facilities serve both apartments, and off-street parking is available to residents.
Property Size1,284 SF
Price / SF$338.79
Days on Market3
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Property Features for 37 Coburn Avenue
General Information
Standard status
Active
Size
1,284 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Amenities
laundry
off-street parking
Building Details
Year Built
1898
Buildings
1
Listing Agency:
Broad Sound Real Estate,LLC
Listed By:
Juan Cano
(617) 661-6600
Source:
Cambridgerealty
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 14 at 10:54PM
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 Broad Sound Real Estate,LLC
Investment Insights
Based on property information with market context.
This 1,284-square-foot duplex, built in 1898, contains two one-bedroom apartments, each with its own laundry. The first-floor unit is expected to be vacant at closing, while the second-floor apartment is occupied by a tenant-at-will. Off-street parking is available.
The property is near UMass Chan Medical School and Lake Quinsigamond, with shopping, dining, and major commuter routes in the surrounding area.
The property is near UMass Chan Medical School and Lake Quinsigamond, with shopping, dining, and major commuter routes in the surrounding area.
Key Highlights
- Two one‑bedroom apartments in a 1,284‑square‑foot duplex
- Separate laundry facilities in each apartment
- First‑floor unit to be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,856
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$377,120
$377.1K
Cap Rate 7%
$269,371
$269.4K
Cap Rate 9%
$209,511
$209.5K
Market Conditions
NOI Build-Up for 1,284 SF
Gross rent
$28.5K $22.20/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$26.9K $20.98/SF
− OpEx
−$8.1K −$6.29/SF
NOI
$18.9K $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%
$377,120
Cap Rate 7%
$269,371
Cap Rate 9%
$209,511
Alternative Uses
Best Use
Multifamily LT 5
$269.4K
$235.7K – $314.3K
NOI $18,856 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$247.3K
$216.4K – $288.5K
NOI $17,309 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$428.6K
$375.0K – $500.0K
NOI $30,000 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,195
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate laundry facilities serve both apartments, and off-street parking is available to residents.
Where is this duplex located?
The property is located at 37 Coburn Avenue Worcester, MA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two one‑bedroom apartments in a 1,284‑square‑foot duplex; Separate laundry facilities in each apartment; First‑floor unit to be delivered vacant at closing
