Turnkey Two-Unit Residential
For Sale
$649,900
Pending
69 Orient St, Worcester, MA 01604
Like-new duplex features two similar units with eat-in kitchens, hardwood floors, and tiled full baths.
Property Size1,492 SF
Days on Market57
Property Features for 69 Orient St
General Information
Standard status
Pending
Size
1,492 SF
Property subtype
Multi Family
Building Details
Year Built
1870
Listing Agency:
Keller Williams Pinnacle Central
(508) 754-3020
Listed By:
The Riel Estate Team · License #1999023818
(774) 200-8697
Source:
Lockandkeyre
Added: Jul 13
Changed: Sep 6
Last Checked: Sep 6 at 7:40AM
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.
This like-new duplex has undergone a complete transformation and is ready for its next owner. Both apartments have similar layouts featuring gorgeous eat-in kitchens, living rooms with gleaming hardwood floors, two bedrooms, and a full tiled bath with modern finishes. The property also includes major improvements such as a new roof, new windows, all new utilities, and a full interior remodel.
There is plenty of off-street parking available. The basement is framed and permitted for future ADU completion, offering a potential value-add opportunity depending on final buildout plans.
As configured, the property provides two residential units with modern finishes and updated building systems, along with the option to expand via a permitted basement ADU completion.
There is plenty of off-street parking available. The basement is framed and permitted for future ADU completion, offering a potential value-add opportunity depending on final buildout plans.
As configured, the property provides two residential units with modern finishes and updated building systems, along with the option to expand via a permitted basement ADU completion.
Key Highlights
- Duplex built in 1870 featuring two similar 2‑bedroom units, each with an eat‑in kitchen and a living room with hardwood floors
- Each unit includes a full tiled bath with modern finishes
- Major updates include a new roof, new windows, all new utilities, and a full interior remodel
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
$21,910
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
3.37%
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%
$438,200
$438.2K
Cap Rate 7%
$313,000
$313.0K
Cap Rate 9%
$243,444
$243.4K
Market Conditions
NOI Build-Up for 1,492 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
$33.1K $22.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$31.3K $20.98/SF
− OpEx
−$9.4K −$6.29/SF
NOI
$21.9K $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%
$438,200
Cap Rate 7%
$313,000
Cap Rate 9%
$243,444
Alternative Uses
Best Use
Multifamily LT 5
$313.0K
$273.9K – $365.2K
NOI $21,910 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,113 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$498.0K
$435.8K – $581.0K
NOI $34,860 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Like-new duplex features two similar units with eat-in kitchens, hardwood floors, and tiled full baths.
Where is this duplex located?
The property is located at 69 Orient St Worcester, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Duplex built in 1870 featuring two similar 2‑bedroom units, each with an eat‑in kitchen and a living room with hardwood floors; Each unit includes a full tiled bath with modern finishes; Major updates include a new roof, new windows, all new utilities, and a full interior remodel
