Two-Unit Residential Income
For Sale
$449,900
542-A Chandler Street, Worcester, MA 01602
Two identical units with updated interiors on a large half-acre lot near Worcester State University.
Property Size1,630 SF
Lot Size0.50 Acres
Price / SF$276.01
Days on Market150
Property Features for 542-A Chandler Street
General Information
Standard status
Active
Size
1,630 SF
Total Parking Spaces
4
Lot size
0.50 Acres
Property subtype
Multi-Family
Zoning
RS-7
Additional Details
Multifamily Units
2
Amenities
Washer Hookup
Wood
No
Shingle
Public Transportation, Shopping, University
for Electric Range, for Electric Oven, Washer Hookup
4
Building Details
Building Size
1,630 SF
Year Built
1945
Stories
2
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
Listed By:
Mia Fisher
(508) 333-8144
Source:
Reishomesearch
Added: Apr 11
Changed: Aug 23
Last Checked: Aug 25 at 3:02AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This two-unit residential income property features two identical layouts, with each unit offering two bedrooms and an open concept living, dining, and kitchen area. The lower unit includes newly polyurethaned hardwood floors, and the bathroom has been newly updated with a brand-new vanity, medicine cabinet, and toilet. The property is described as receiving lots of natural light throughout.
The home is located in a desirable area right next to Worcester State University. A large half-acre lot provides room for outdoor use and is described as having possibility for future development.
The listing offers details on the unit configurations and key interior updates, while the offer deadline is noted as Tuesday, April 21 at 5:00 pm, with offers to be made good until Wednesday, April 22 at 5:00 pm.
The home is located in a desirable area right next to Worcester State University. A large half-acre lot provides room for outdoor use and is described as having possibility for future development.
The listing offers details on the unit configurations and key interior updates, while the offer deadline is noted as Tuesday, April 21 at 5:00 pm, with offers to be made good until Wednesday, April 22 at 5:00 pm.
Key Highlights
- Two‑family home built in 1945 with both units sharing an identical layout
- Lower unit offers 2 bedrooms
- Newly polyurethaned hardwood floors and wood flooring
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
$23,937
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
5.32%
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%
$478,740
$478.7K
Cap Rate 7%
$341,957
$342.0K
Cap Rate 9%
$265,967
$266.0K
Market Conditions
NOI Build-Up for 1,630 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
$36.2K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.2K $20.98/SF
− OpEx
−$10.3K −$6.29/SF
NOI
$23.9K $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%
$478,740
Cap Rate 7%
$341,957
Cap Rate 9%
$265,967
Alternative Uses
Best Use
Multifamily LT 5
$342.0K
$299.2K – $399.0K
NOI $23,937 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$313.9K
$274.7K – $366.2K
NOI $21,973 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$544.1K
$476.1K – $634.7K
NOI $38,084 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 01602, MA
25,382
Population
10,483
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
4,376
Density / Sq Mi
$94,351
Median Household Income
$47,259
Median Earnings
$1,471
Median Rent
$380,800
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 identical units with updated interiors on a large half-acre lot near Worcester State University.
Where is this duplex located?
The property is located at 542-A Chandler Street Worcester, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑family home built in 1945 with both units sharing an identical layout; Lower unit offers 2 bedrooms; Newly polyurethaned hardwood floors and wood flooring
