Triplex with Enclosed
For Sale
$650,000
11 Diamond Street, Worcester, MA 01610
Refinished hardwood floors complement painted interiors, natural woodwork, and enclosed rear porches.
Property Size3,375 SF
Price / SF$192.59
Days on Market16
Property Features for 11 Diamond Street
General Information
Standard status
Active
Size
3,375 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Parent Real Estate
Listed By:
Michael R. Parent
(617) 396-3100
Source:
Longwoodresidential
Added: Aug 10
Changed: Aug 24
Last Checked: Aug 24 at 6:32AM
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 Parent Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this 3,375-square-foot triplex contains three 3-bedroom units with generously sized rooms and a mix of traditional details and recent cosmetic work. Hardwood flooring has been refinished throughout the units except in the kitchens, while the apartments and front halls have received fresh paint. Natural woodwork and decorative fireplaces add character to the living rooms. Each residence includes a front sitting porch and an enclosed rear porch, and the exterior is finished with vinyl siding.
All three units are vacant, allowing a new owner to establish occupancy. The building has separate utilities, with tenants responsible for heat, electric, and gas. Each apartment is served by its own circuit breaker panel, supplemented by a fourth panel for common areas. The property also offers highway access and is located at 11 Diamond Street in Worcester, Massachusetts.
All three units are vacant, allowing a new owner to establish occupancy. The building has separate utilities, with tenants responsible for heat, electric, and gas. Each apartment is served by its own circuit breaker panel, supplemented by a fourth panel for common areas. The property also offers highway access and is located at 11 Diamond Street in Worcester, Massachusetts.
Key Highlights
- Three 3‑bedroom units within a 3,375 SF triplex
- Front sitting porches and enclosed back porches for each unit
- Refinished hardwood floors in units, excluding kitchens
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
$49,563
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
7.63%
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%
$991,260
$991.3K
Cap Rate 7%
$708,043
$708.0K
Cap Rate 9%
$550,700
$550.7K
Market Conditions
NOI Build-Up for 3,375 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
$74.9K $22.20/SF
− Vacancy
−$4.1K −$1.22/SF
EGI
$70.8K $20.98/SF
− OpEx
−$21.2K −$6.29/SF
NOI
$49.6K $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%
$991,260
Cap Rate 7%
$708,043
Cap Rate 9%
$550,700
Alternative Uses
Best Use
Multifamily LT 5
$708.0K
$619.5K – $826.1K
NOI $49,563 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$650.0K
$568.7K – $758.3K
NOI $45,497 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.13M
$985.7K – $1.31M
NOI $78,855 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
889
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 - Refinished hardwood floors complement painted interiors, natural woodwork, and enclosed rear porches.
Where is this triplex located?
The property is located at 11 Diamond Street Worcester, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three 3‑bedroom units within a 3,375 SF triplex; Front sitting porches and enclosed back porches for each unit; Refinished hardwood floors in units, excluding kitchens
