Two-Unit Duplex with
For Sale
$399,900
59 Orient St, Worcester, MA 01604
Upper residence spans two levels and includes hardwood floors, office space, storage, and a finished sunroom.
Property Size2,688 SF
Price / SF$148.77
Days on Market46
Property Features for 59 Orient St
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Building Size
2,688 SF
Year Built
1885
Buildings
1
Listing Agency:
Keller Williams Pinnacle Central
(774) 200-8697
Listed By:
The Riel Estate Team · License #47250
(774) 200-8697
Source:
Iverty
Added: Jul 17
Changed: Aug 31
Last Checked: Aug 31 at 2:11PM
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 Pinnacle Central
Investment Insights
Based on property information with market context.
Located at 59 Orient Street in Worcester, this 2,688-square-foot duplex offers two residential units within a building constructed in 1885. The upper residence extends across two floors, with hardwood flooring on the main level, a finished sunroom, storage room, three bedrooms, and a separate office area.
The lower unit includes two bedrooms and connects directly to the backyard. The property has a fairly recent roof, and its utility systems are fully functional, providing a defined two-unit configuration with distinct interior and outdoor access.
The lower unit includes two bedrooms and connects directly to the backyard. The property has a fairly recent roof, and its utility systems are fully functional, providing a defined two-unit configuration with distinct interior and outdoor access.
Key Highlights
- 2,688‑square‑foot duplex constructed in 1885
- Upper unit spans two floors with hardwood floors on the main level
- Upper residence includes 3 bedrooms, office space, finished sunroom, and storage room
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
$36,236
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
9.06%
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%
$724,720
$724.7K
Cap Rate 7%
$517,657
$517.7K
Cap Rate 9%
$402,622
$402.6K
Market Conditions
NOI Build-Up for 2,688 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
$69.4K $25.80/SF
− Vacancy
−$3.5K −$1.29/SF
EGI
$65.9K $24.51/SF
− OpEx
−$29.6K −$11.03/SF
NOI
$36.2K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
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%
$724,720
Cap Rate 7%
$517,657
Cap Rate 9%
$402,622
Alternative Uses
Best Use
Multifamily LT 5
$563.9K
$493.4K – $657.9K
NOI $39,474 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$517.7K
$453.0K – $603.9K
NOI $36,236 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$897.2K
$785.1K – $1.05M
NOI $62,804 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,086
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 - Upper residence spans two levels and includes hardwood floors, office space, storage, and a finished sunroom.
Where is this duplex located?
The property is located at 59 Orient St Worcester, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,688‑square‑foot duplex constructed in 1885; Upper unit spans two floors with hardwood floors on the main level; Upper residence includes 3 bedrooms, office space, finished sunroom, and storage room
