Three-Unit Residential Income
1007 Foster Street Palmer, MA 01069
For Sale
$300,000
Well-maintained three-family with separately metered electric, electric heat, and coin-operated washer/dryer units in the basement.
Property Size2,039 SF
Price / SF$147.13
Days on Market140
Property Features for 1007 Foster Street
General Information
- Standard status
- Active
- Size
- 2,039 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1900
Listing Agency:
REMAX Connections
(413) 596-8500
Listed By:
The Bay State Team
(413) 596-8500
Source:
Compass
Added: Mar 6
Changed: Jul 23
Last Checked: Jul 23 at 6:29AM
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 REMAX Connections
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property includes coin-operated washer and dryer units located in the basement, and the appliances are included in the sale. The enclosed front porch serves as a common area, and there are driveways on either side of the dwelling.
Each unit is separately metered for electric, and all units have electric heat. The first-floor units are under leases through 12/27, and the second-floor unit may be delivered vacant. The third-floor/attic space is accessed through the second-floor unit and is currently unfinished.
The property is described as being close to area amenities, including shopping, highway access, and restaurants.
Each unit is separately metered for electric, and all units have electric heat. The first-floor units are under leases through 12/27, and the second-floor unit may be delivered vacant. The third-floor/attic space is accessed through the second-floor unit and is currently unfinished.
The property is described as being close to area amenities, including shopping, highway access, and restaurants.
Key Highlights
- 3‑family property with full basement and laundry setup
- Coin‑op washer and dryer units included in the sale (in the basement)
- All units are separately metered for electric and have electric heat
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.4k | $19.80 |
| − Vacancy | −$2.2k | −$1.09 |
| EGI | $38.2k | $18.71 |
| − OpEx | −$11.4k | −$5.61 |
| NOI | $26.7k | $13.10 |
2,039 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$381.5K
$333.8K – $445.1K
NOI $26,706 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,967 @ 7.0% cap · market cap 29.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Well-maintained three-family with separately metered electric, electric heat, and coin-operated washer/dryer units in the basement.
Where is this triplex located?
The property is located at 1007 Foster Street Palmer, MA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 3‑family property with full basement and laundry setup; Coin‑op washer and dryer units included in the sale (in the basement); All units are separately metered for electric and have electric heat
