Two-Family Duplex with
New
For Sale
$399,000
408 School St, Webster, MA 01570
Separately metered units include unfinished lower-level space for storage and laundry.
Property Size2,848 SF
Lot Size0.18 Acres
Days on Market6
Property Features for 408 School St
General Information
Standard status
Active
Size
2,848 SF
Total Parking Spaces
2
Lot size
0.18 Acres
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,426
Building Details
Building Size
2,848 SF
Year Built
1880
Buildings
1
Stories
2
Units
2
Listed By:
Kerri Mulvey
(781) 989-0305
Source:
Elliman
Added: Sep 19
Last Checked: Sep 22 at 7:01PM
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 Kerri Mulvey
Investment Insights
Based on property information with market context.
This two-family duplex contains two separately metered units with approximately 1,200 square feet per unit. The property offers six bedrooms and two full bathrooms overall, along with an unfinished basement that provides storage and laundry space. The building is being sold as-is and was constructed in 1880.
The property occupies a 7,900-square-foot corner lot at 408 School St in Webster, Massachusetts. Two off-street parking spaces are included. The setting provides access to Webster Lake, downtown shops and restaurants, Route 395, and Route 16, with Worcester and Providence also within driving distance.
The property occupies a 7,900-square-foot corner lot at 408 School St in Webster, Massachusetts. Two off-street parking spaces are included. The setting provides access to Webster Lake, downtown shops and restaurants, Route 395, and Route 16, with Worcester and Providence also within driving distance.
Key Highlights
- Two‑family property with two separately metered units
- Six bedrooms and two full bathrooms across the property
- Approximately 1,200 square feet per unit
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
$33,504
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
8.40%
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%
$670,080
$670.1K
Cap Rate 7%
$478,629
$478.6K
Cap Rate 9%
$372,267
$372.3K
Market Conditions
NOI Build-Up for 2,848 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
$62.5K $21.96/SF
− Vacancy
−$1.6K −$0.57/SF
EGI
$60.9K $21.39/SF
− OpEx
−$27.4K −$9.63/SF
NOI
$33.5K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$670,080
Cap Rate 7%
$478,629
Cap Rate 9%
$372,267
Alternative Uses
Best Use
Multifamily LT 5
$550.0K
$481.2K – $641.6K
NOI $38,498 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$478.6K
$418.8K – $558.4K
NOI $33,504 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$972.6K
$851.0K – $1.13M
NOI $68,079 @ 7.0% cap · market cap 17.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 01570, MA
17,776
Population
8,211
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,434
Density / Sq Mi
$68,934
Median Household Income
$43,595
Median Earnings
$1,135
Median Rent
$339,600
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separately metered units include unfinished lower-level space for storage and laundry.
Where is this duplex located?
The property is located at 408 School St Webster, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑family property with two separately metered units; Six bedrooms and two full bathrooms across the property; Approximately 1,200 square feet per unit
