Two-Unit Home with Detached
For Sale
$539,900
Pending
53 Collins Street, Worcester, MA 01606
Vacant duplex with two-bedroom layouts, in-unit laundry, a detached garage, and convenient highway access.
Property Size2,496 SF
Days on Market208
Property Features for 53 Collins Street
General Information
Standard status
Pending
Size
2,496 SF
Total Parking Spaces
7
Property subtype
Multi-family / 2 Family
Zoning
RS-7
Taxes and HOA fees
Annual Taxes
$6,930
Amenities
No
Vinyl, Carpet, Hardwood
Range, Refrigerator, Washer, Dryer
Storm Door(s)
2.0
Screens
Washer Hookup, Dryer Hookup, Electric Dryer Hookup
Full, Interior Access, Unfinished Basement
Ceiling Fan(s), Pantry, Bathroom With Tub, Walk-Up Attic, Living Room, Kitchen, Laundry Room, Office/Den, Dining Room, Window AC
2
2.00
Frame
Shingle
Rain Gutters, Screens, Porch, Porch - Enclosed
Porch, Enclosed
Building Details
Year Built
1915
Listing Agency:
Keller Williams Realty Boston Northwest
(978) 369-5775
Listed By:
Kotlarz Group
(978) 369-5775
Source:
Compass
Added: Feb 4
Changed: Aug 31
Last Checked: Aug 30 at 3:55PM
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 Keller Williams Realty Boston Northwest
Investment Insights
Based on property information with market context.
Built in 1915, this 2496-square-foot duplex contains two separate residences, each arranged with 2 bedrooms, 1 full bath, a living room, an eat-in kitchen, pantry, and in-unit laundry. The first-floor unit also includes an office or guest room, while the upper unit has a dedicated dining room. Hardwood flooring, vinyl siding, a covered enclosed porch, an unfinished basement, and a walk-up attic add to the property's existing features.
Both units are vacant. A detached oversized two-car garage provides additional storage, and the property includes a large yard that has been recently surveyed. Located at 53 Collins Street in Worcester, the home sits on a neighborhood side street with highway access. RS-7 zoning applies.
Both units are vacant. A detached oversized two-car garage provides additional storage, and the property includes a large yard that has been recently surveyed. Located at 53 Collins Street in Worcester, the home sits on a neighborhood side street with highway access. RS-7 zoning applies.
Key Highlights
- 2,496‑square‑foot duplex at 53 Collins Street, Worcester, MA 01606
- Two units, each with 2 bedrooms and 1 full bath
- Both units are vacant for immediate occupancy
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
$36,655
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
6.79%
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%
$733,100
$733.1K
Cap Rate 7%
$523,643
$523.6K
Cap Rate 9%
$407,278
$407.3K
Market Conditions
NOI Build-Up for 2,496 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
$55.4K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$52.4K $20.98/SF
− OpEx
−$15.7K −$6.29/SF
NOI
$36.7K $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%
$733,100
Cap Rate 7%
$523,643
Cap Rate 9%
$407,278
Alternative Uses
Best Use
Multifamily LT 5
$523.6K
$458.2K – $610.9K
NOI $36,655 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$480.7K
$420.6K – $560.8K
NOI $33,647 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$833.1K
$729.0K – $972.0K
NOI $58,318 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
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 - Vacant duplex with two-bedroom layouts, in-unit laundry, a detached garage, and convenient highway access.
Where is this duplex located?
The property is located at 53 Collins Street Worcester, MA.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 2,496‑square‑foot duplex at 53 Collins Street, Worcester, MA 01606; Two units, each with 2 bedrooms and 1 full bath; Both units are vacant for immediate occupancy
