Duplex with New
For Sale
$585,000
78 Birch Street, Worcester, MA 01603
Two residential units include a vacant four-bedroom layout and an occupied two-bedroom unit with an existing lease.
Property Size3,168 SF
Price / SF$184.66
Days on Market18
Property Features for 78 Birch Street
General Information
Standard status
Active
Size
3,168 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 4BR, 1 x 2BR
Multifamily Units
2
Amenities
off-street parking
laundry hookup
Building Details
Year Built
1840
Listing Agency:
Century 21 Custom Home Realty
Listed By:
Winter Properties Realty Group
(508) 904-1667
Source:
Parksquarerealty
Added: Sep 10
Changed: Sep 26
Last Checked: Sep 26 at 8:56AM
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 Century 21 Custom Home Realty
Investment Insights
Based on property information with market context.
This duplex at 78 Birch St includes 3,168 square feet across two residential units. The first-floor apartment is vacant and arranged with four bedrooms, while the second-floor apartment has two bedrooms and is occupied under a lease. The property also offers off-street parking and basement laundry hookups.
Built in 1840, the home has a new roof, aluminum siding, vinyl windows, hardwood flooring, ceramic tile, and gas forced-air heat. The heating system and water heater are newer, and the building was fully insulated through Mass Save in 2018. RG-5 zoning supports its duplex classification.
Built in 1840, the home has a new roof, aluminum siding, vinyl windows, hardwood flooring, ceramic tile, and gas forced-air heat. The heating system and water heater are newer, and the building was fully insulated through Mass Save in 2018. RG-5 zoning supports its duplex classification.
Key Highlights
- 3,168‑square‑foot duplex at 78 Birch St, Worcester, MA 01603
- First‑floor unit is vacant with a 4‑bedroom layout
- Second‑floor unit has 2 bedrooms and is occupied with a lease in place
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
$46,523
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
7.95%
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%
$930,460
$930.5K
Cap Rate 7%
$664,614
$664.6K
Cap Rate 9%
$516,922
$516.9K
Market Conditions
NOI Build-Up for 3,168 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
$70.3K $22.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$66.5K $20.98/SF
− OpEx
−$19.9K −$6.29/SF
NOI
$46.5K $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%
$930,460
Cap Rate 7%
$664,614
Cap Rate 9%
$516,922
Alternative Uses
Best Use
Multifamily LT 5
$664.6K
$581.5K – $775.4K
NOI $46,523 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$610.1K
$533.8K – $711.8K
NOI $42,706 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M
NOI $74,019 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,228
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include a vacant four-bedroom layout and an occupied two-bedroom unit with an existing lease.
Where is this duplex located?
The property is located at 78 Birch Street Worcester, MA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 3,168‑square‑foot duplex at 78 Birch St, Worcester, MA 01603; First‑floor unit is vacant with a 4‑bedroom layout; Second‑floor unit has 2 bedrooms and is occupied with a lease in place
