Renovated Duplex with Framed
For Sale
$649,900
Pending
69 Orient St, Worcester, MA 01604
Residential Income, Worcester, MA
Property Size1,492 SF
Lot Size0.11 Acres
Days on Market50
Property Features for 69 Orient St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 3
Parking
4
Directions
Right onto Grafton St., Left onto Orient
Standard status
Pending
APN
M:04 B:006 L:25+27,1764672
Size
1,492 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3341
Building Details
Year built
1870
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Pinnacle Central · Keller Williams Realty
(508) 754-3020
Listed By:
Sarah Gustafson
(508) 754-3020
Added: Jul 13
Changed: Aug 26
Last Checked: Aug 31 at 5:06PM
MLS# 73549018
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Worcester duplex includes two apartments with comparable layouts, each offering an eat-in kitchen, living room, two bedrooms, and a full tiled bathroom. Interior work includes updated finishes, gleaming hardwood flooring, and a complete remodel. The property also has a new roof, replacement windows, and new utilities.
A framed basement is permitted for future ADU completion, providing an additional improvement already incorporated into the property. Off-street parking is available, and the home is positioned near major routes and area amenities. The 1,492-square-foot property occupies 0.1148 acres and was built in 1870. Zoning is RG-5.
A framed basement is permitted for future ADU completion, providing an additional improvement already incorporated into the property. Off-street parking is available, and the home is positioned near major routes and area amenities. The 1,492-square-foot property occupies 0.1148 acres and was built in 1870. Zoning is RG-5.
Key Highlights
- Two‑apartment duplex with similar layouts
- Each apartment includes 2 bedrooms and 1 full tiled bathroom
- 1,492 square feet on a 0.1148‑acre lot
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
Lease Details
2
Residential units
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 - Two matching apartments feature eat-in kitchens, hardwood floors, and modern tiled 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: Two‑apartment duplex with similar layouts; Each apartment includes 2 bedrooms and 1 full tiled bathroom; 1,492 square feet on a 0.1148‑acre lot
