Two-Unit Duplex with
For Sale
$599,900
44 Alsada Drive, Worcester, MA 01603
Two residences share a two-floor layout with separate living, dining, and kitchen areas.
Property Size2,040 SF
Lot Size0.18 Acres
Price / SF$294.07
Days on Market8
Property Features for 44 Alsada Drive
General Information
Standard status
Active
Size
2,040 SF
Lot size
0.18 Acres
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
deck
patio
partial basement
Building Details
Year Built
1970
Buildings
1
Stories
2
Listing Agency:
Serhant
Listed By:
The Avenue
(413) 789-9830
Source:
Parksquarerealty
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 10:56AM
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 Serhant
Investment Insights
Based on property information with market context.
This 2,040-square-foot duplex contains two separate residences arranged across a two-floor layout. Each unit includes its own living area, dining space, kitchen, three bedrooms, and a full bathroom, creating clearly defined residential spaces within the property. A partial basement provides additional usable area.
Outdoor features include a deck and patio overlooking the approximately 8,000-square-foot lot. Built in 1970, the property is located in Worcester near public transportation, shopping, schools, and medical facilities.
Outdoor features include a deck and patio overlooking the approximately 8,000-square-foot lot. Built in 1970, the property is located in Worcester near public transportation, shopping, schools, and medical facilities.
Key Highlights
- 2,040‑square‑foot duplex with two separate residences
- Each unit includes three bedrooms and one full bathroom
- Separate living, dining, and kitchen areas in each residence
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
$29,958
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
4.99%
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%
$599,160
$599.2K
Cap Rate 7%
$427,971
$428.0K
Cap Rate 9%
$332,867
$332.9K
Market Conditions
NOI Build-Up for 2,040 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
$45.3K $22.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$42.8K $20.98/SF
− OpEx
−$12.8K −$6.29/SF
NOI
$30.0K $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 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%
$599,160
Cap Rate 7%
$427,971
Cap Rate 9%
$332,867
Alternative Uses
Best Use
Multifamily LT 5
$428.0K
$374.5K – $499.3K
NOI $29,958 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$392.9K
$343.8K – $458.3K
NOI $27,500 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$680.9K
$595.8K – $794.4K
NOI $47,664 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences share a two-floor layout with separate living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 44 Alsada Drive Worcester, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,040‑square‑foot duplex with two separate residences; Each unit includes three bedrooms and one full bathroom; Separate living, dining, and kitchen areas in each residence
