Two-Family Duplex with
New
For Sale
$619,900
56 Plantation Street, Worcester, MA 01604
Two-unit residential property with a newer roof, generous living areas, and room for additional improvements.
Property Size2,705 SF
Price / SF$229.17
Days on Market6
Property Features for 56 Plantation Street
General Information
Standard status
Active
Size
2,705 SF
Property subtype
Multi-family
Building Details
Year Built
1890
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
The Jean Group
(617) 396-3100
Source:
Longwoodresidential
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 7:25PM
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 South Watuppa
Investment Insights
Based on property information with market context.
This Worcester duplex offers a two-family layout with generous living areas, multiple bedrooms, and more than six off-street parking spaces. The roof is approximately 5 years old, and the owner has completed several updates. Additional work remains, giving the property a renovation component for an investor or owner-occupant. Built in 1890, the residence combines established construction with a configuration suited to two households.
The property is located at 56 Plantation St in Worcester, near shopping, dining, schools, public transportation, and major routes. Its access to everyday services and transportation is directly supported by the surrounding context, while the existing parking and room sizes add practical functionality. The property is offered for sale with further improvement needed beyond the work already completed.
The property is located at 56 Plantation St in Worcester, near shopping, dining, schools, public transportation, and major routes. Its access to everyday services and transportation is directly supported by the surrounding context, while the existing parking and room sizes add practical functionality. The property is offered for sale with further improvement needed beyond the work already completed.
Key Highlights
- Two‑family duplex configuration with multiple bedrooms and generous living areas
- More than 6 off‑street parking spaces
- Roof approximately 5 years old
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
$39,724
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
6.41%
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%
$794,480
$794.5K
Cap Rate 7%
$567,486
$567.5K
Cap Rate 9%
$441,378
$441.4K
Market Conditions
NOI Build-Up for 2,705 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
$60.1K $22.20/SF
− Vacancy
−$3.3K −$1.22/SF
EGI
$56.7K $20.98/SF
− OpEx
−$17.0K −$6.29/SF
NOI
$39.7K $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%
$794,480
Cap Rate 7%
$567,486
Cap Rate 9%
$441,378
Alternative Uses
Best Use
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$520.9K
$455.8K – $607.8K
NOI $36,465 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$902.9K
$790.0K – $1.05M
NOI $63,201 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Explore this area
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
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-unit residential property with a newer roof, generous living areas, and room for additional improvements.
Where is this duplex located?
The property is located at 56 Plantation Street Worcester, MA.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Two‑family duplex configuration with multiple bedrooms and generous living areas; More than 6 off‑street parking spaces; Roof approximately 5 years old
