Renovated Triplex with Detached
For Sale
$648,900
10 Hillside Street, Worcester, MA 01610
Three residential units offer six bedrooms, three full baths, and in-unit laundry hookups.
Property Size4,224 SF
Price / SF$153.62
Days on Market111
Property Features for 10 Hillside Street
General Information
Standard status
Active
Size
4,224 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RG-5
Building Details
Building Size
4,224 SF
Year Built
1910
Stories
3
Listing Agency:
Excelsior Realty
Listed By:
Phuong Tran-Vo
Source:
Cjbarrett
Added: May 12
Changed: Aug 29
Last Checked: May 28 at 5:47AM
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 Excelsior Realty
Investment Insights
Based on property information with market context.
This three-family property, built in 1910, provides approximately 4,225 square feet of living space across six bedrooms and three full baths. Each unit includes a bright living room connected to a dining area, refinished hardwood flooring, generous room sizes, and hookups for in-unit laundry. The property also includes a detached garage, replaced water heaters, and a gas boiler, with additional renovations and fresh paint completed throughout.
The home is within walking distance of Vernon Hill Playground and local schools. Polar Park and downtown Worcester are a short drive away, along with commuter access to I-290, I-90, and Route 146.
The home is within walking distance of Vernon Hill Playground and local schools. Polar Park and downtown Worcester are a short drive away, along with commuter access to I-290, I-90, and Route 146.
Key Highlights
- Three‑family property with 6 bedrooms and 3 full baths
- Approximately 4,225 sq ft of living space
- Refinished hardwood floors in each unit
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
$56,942
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
8.78%
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%
$1,138,840
$1.1M
Cap Rate 7%
$813,457
$813.5K
Cap Rate 9%
$632,689
$632.7K
Market Conditions
NOI Build-Up for 4,224 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
$109.0K $25.80/SF
− Vacancy
−$5.4K −$1.29/SF
EGI
$103.5K $24.51/SF
− OpEx
−$46.6K −$11.03/SF
NOI
$56.9K $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%
$1,138,840
Cap Rate 7%
$813,457
Cap Rate 9%
$632,689
Alternative Uses
Best Use
Multifamily LT 5
$886.2K
$775.4K – $1.03M
NOI $62,031 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$813.5K
$711.8K – $949.0K
NOI $56,942 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,692 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
867
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?
Triplex - Three residential units offer six bedrooms, three full baths, and in-unit laundry hookups.
Where is this triplex located?
The property is located at 10 Hillside Street Worcester, MA.
What is the asking price?
The asking price for this property is $648,900.
What are key features of this property?
This property features: Three‑family property with 6 bedrooms and 3 full baths; Approximately 4,225 sq ft of living space; Refinished hardwood floors in each unit
