Waterfront Duplex with Guest
For Sale
$694,000
435 Lake Avenue, Worcester, MA 01604
Two independent four-season residences provide flexible living arrangements beside Lake Quinsigamond.
Property Size1,824 SF
Price / SF$380.48
Days on Market118
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Property Features for 435 Lake Avenue
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Multi-family
Building Details
Year Built
1918
Listing Agency:
Century 21 XSELL REALTY
Listed By:
Sara Waldina Ventura · License #9538379
(774) 772-7072
Source:
Inrealtyinc
Added: Jun 20
Changed: Oct 15
Last Checked: Oct 14 at 11:52PM
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 Century 21 XSELL REALTY
Investment Insights
Based on property information with market context.
This waterfront duplex property includes two separate four-season residences in a private cove on Lake Quinsigamond. The main home offers an updated kitchen with quartz countertops, living and dining areas, a home office, full bath, and a main-level bedroom or sunroom with walk-in closet, plus two upstairs bedrooms.
The detached lakeside residence features vaulted ceilings, exposed wood beams, expansive windows, lake views, a living and dining area, galley kitchen, half bath, lower-level bedroom, full bath, and laundry hookups. Improvements include renovated kitchens, updated plumbing and electrical systems, a new oil tank, designer lighting, and a recently paved driveway. The property also includes a lakeside patio and direct shoreline access for kayaking or canoeing. Built in 1918 and zoned RL-7, it is located at 435 Lake Ave in Worcester, Massachusetts.
The detached lakeside residence features vaulted ceilings, exposed wood beams, expansive windows, lake views, a living and dining area, galley kitchen, half bath, lower-level bedroom, full bath, and laundry hookups. Improvements include renovated kitchens, updated plumbing and electrical systems, a new oil tank, designer lighting, and a recently paved driveway. The property also includes a lakeside patio and direct shoreline access for kayaking or canoeing. Built in 1918 and zoned RL-7, it is located at 435 Lake Ave in Worcester, Massachusetts.
Key Highlights
- Two independent four‑season residences on Lake Quinsigamond
- Main residence includes three bedrooms or flexible bedroom/sunroom configuration
- Separate lakeside residence with vaulted ceilings, exposed beams, and lake views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,786
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,720
$535.7K
Cap Rate 7%
$382,657
$382.7K
Cap Rate 9%
$297,622
$297.6K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$40.5K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$38.3K $20.98/SF
− OpEx
−$11.5K −$6.29/SF
NOI
$26.8K $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 Rate 5%
$535,720
Cap Rate 7%
$382,657
Cap Rate 9%
$297,622
Alternative Uses
Best Use
Multifamily LT 5
$382.7K
$334.8K – $446.4K
NOI $26,786 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$351.3K
$307.4K – $409.8K
NOI $24,588 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$608.8K
$532.7K – $710.3K
NOI $42,617 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
298
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent four-season residences provide flexible living arrangements beside Lake Quinsigamond.
Where is this duplex located?
The property is located at 435 Lake Avenue Worcester, MA.
What is the asking price?
The asking price for this property is $694,000.
What are key features of this property?
This property features: Two independent four‑season residences on Lake Quinsigamond; Main residence includes three bedrooms or flexible bedroom/sunroom configuration; Separate lakeside residence with vaulted ceilings, exposed beams, and lake views
