Two-Family Residential
37 Gates Road Worcester, MA 01603
37 Gates Road, Worcester, MA, 01603
$429,999
Pending
For Sale
$429,999
Pending
Well-maintained two-unit home with fenced yard, multiple sheds, and a three-season porch on the second floor.
Property Size2,350 SF
Days on Market141
Property Features for 37 Gates Road
General Information
- Standard status
- Pending
- Size
- 2,350 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1973
Listing agency
Park Place Realty Enterprises
(508) 450-0030
Listed by
Karynsue Marchione-Reilly · License #9585735
(508) 450-0030
Source
Compass
Added: Mar 4 Updated: Jul 22 at 7:43PM Checked: Jul 22 at 7:43PM
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 Park Place Realty Enterprises
Investment Insights
Based on property information with market context.
This well-maintained two-family residence offers two apartments with two bedrooms per floor, each including a living room and kitchen. The second-floor unit features an added three-season porch for additional indoor-outdoor living space. The property includes a fenced private backyard with one large shed and one small shed, plus ample parking.
The home sits on a corner lot on a quiet country street just outside the Webster Square shopping plaza. Public pool, restaurants, banks, grocery stores, an airport, schools, and bus line access are described as nearby, with easy access to Auburn, Leicester, area highways, and shopping.
The seller notes that the owner-occupied unit will be delivered vacant. Offers are subject to the stated deadline of Monday 8 pm 3/9/2026.
The home sits on a corner lot on a quiet country street just outside the Webster Square shopping plaza. Public pool, restaurants, banks, grocery stores, an airport, schools, and bus line access are described as nearby, with easy access to Auburn, Leicester, area highways, and shopping.
The seller notes that the owner-occupied unit will be delivered vacant. Offers are subject to the stated deadline of Monday 8 pm 3/9/2026.
Key Highlights
- Two‑family home built in 1973 with 2 full baths total
- 2 bedrooms on each floor with a living room and kitchen on both apartments
- Owner‑occupied with delivery vacant; two units in a well‑maintained setup
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.2k | $22.20 |
| − Vacancy | −$2.9k | −$1.22 |
| EGI | $49.3k | $20.98 |
| − OpEx | −$14.8k | −$6.29 |
| NOI | $34.5k | $14.69 |
2,350 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$493.0K
$431.4K – $575.2K
NOI $34,510 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$452.6K
$396.0K – $528.0K
NOI $31,679 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$784.4K
$686.3K – $915.1K
NOI $54,907 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-unit home with fenced yard, multiple sheds, and a three-season porch on the second floor.
Where is this duplex located?
The property is located at 37 Gates Road Worcester, MA.
What is the asking price?
The asking price for this property is $429,999.
What are key features of this property?
This property features: Two‑family home built in 1973 with 2 full baths total; 2 bedrooms on each floor with a living room and kitchen on both apartments; Owner‑occupied with delivery vacant; two units in a well‑maintained setup
