Two-Family Residential
For Sale
$399,000
Pending
67 Richland St, Worcester, MA 01610
Two-family home with a fenced yard, parking, and a storage shed, plus an adjacent separately deeded lot included.
Property Size1,619 SF
Days on Market50
Property Features for 67 Richland St
General Information
Standard status
Pending
Size
1,619 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
RG-5
Taxes and HOA fees
Annual Taxes
$4,082
Building Details
Building Size
1,619 SF
Year Built
1890
Stories
2
Units
2
Listing Agency:
BA Property & Lifestyle Advisors
(508) 852-4227
Listed By:
Joseph Abramoff
(508) 667-8254
Source:
Thefirmreg
Added: Jul 20
Changed: Aug 8
Last Checked: Jul 23 at 7:19AM
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 BA Property & Lifestyle Advisors
Investment Insights
Based on property information with market context.
This classic two-family residence at 67 Richland St is being offered for sale and is described as ready to be refreshed. The property includes a fenced-in yard and parking, along with a storage shed.
The sale also includes a separately deeded adjacent lot at 30 Dorchester St. The adjacent lot is described as meeting minimum Worcester zoning requirements for a single-family home, with buyer and buyer agent to verify and perform their own due diligence.
The combined offering may appeal to investors or contractors looking for a residential income property with additional land as part of the purchase.
The sale also includes a separately deeded adjacent lot at 30 Dorchester St. The adjacent lot is described as meeting minimum Worcester zoning requirements for a single-family home, with buyer and buyer agent to verify and perform their own due diligence.
The combined offering may appeal to investors or contractors looking for a residential income property with additional land as part of the purchase.
Key Highlights
- Classic 2‑family home built in 1890
- Includes separately deeded adjacent lot at 30 Dorchester St
- Fenced yard, parking, and storage shed on‑site at 67 Richland St
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
$23,776
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
5.96%
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%
$475,520
$475.5K
Cap Rate 7%
$339,657
$339.7K
Cap Rate 9%
$264,178
$264.2K
Market Conditions
NOI Build-Up for 1,619 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
$35.9K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.0K $20.98/SF
− OpEx
−$10.2K −$6.29/SF
NOI
$23.8K $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%
$475,520
Cap Rate 7%
$339,657
Cap Rate 9%
$264,178
Alternative Uses
Best Use
Multifamily LT 5
$339.7K
$297.2K – $396.3K
NOI $23,776 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$311.8K
$272.8K – $363.8K
NOI $21,825 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$540.4K
$472.8K – $630.5K
NOI $37,827 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
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-family home with a fenced yard, parking, and a storage shed, plus an adjacent separately deeded lot included.
Where is this duplex located?
The property is located at 67 Richland St Worcester, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Classic 2‑family home built in 1890; Includes separately deeded adjacent lot at 30 Dorchester St; Fenced yard, parking, and storage shed on‑site at 67 Richland St
