De-Leaded Five-Family Investment
For Sale
$639,000
Pending
17 Mount Pleasant St, Webster, MA 01570
Well-maintained, fully rented five-family property with off-street parking and garage.
Property Size3,832 SF
Days on Market143
Property Features for 17 Mount Pleasant St
General Information
Standard status
Pending
Size
3,832 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,361
Building Details
Building Size
3,832 SF
Year Built
1890
Stories
5
Units
5
Listed By:
Jason Flibbert
(508) 272-1378
Source:
Elliman
Added: Apr 24
Changed: Sep 6
Last Checked: Sep 13 at 8:07AM
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 Jason Flibbert
Investment Insights
Based on property information with market context.
This well-maintained, de-leaded five-family investment property features a mix of unit sizes, including one three-bedroom, three two-bedroom, and one one-bedroom apartment, all currently rented. Each unit is equipped with a washer and dryer. Off-street parking is available for all units. The property includes some newer water heaters. A two-car garage provides additional value, offering two vehicle bays on the lower level and three storage bays above. The property requires minimal grass upkeep, with sufficient space for the downstairs tenant to enjoy. The bike score is 35, indicating it is somewhat bikeable, and the walk score is 54, meaning it is somewhat walkable. Rents are currently below market value.
Key Highlights
- De‑leaded 5‑family investment property with a mix of unit sizes.
- Significant potential to increase rental income.
- Off‑street parking for all units.
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
$45,080
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
7.05%
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%
$901,600
$901.6K
Cap Rate 7%
$644,000
$644.0K
Cap Rate 9%
$500,889
$500.9K
Market Conditions
NOI Build-Up for 3,832 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
$84.2K $21.96/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$82.0K $21.39/SF
− OpEx
−$36.9K −$9.63/SF
NOI
$45.1K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /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%
$901,600
Cap Rate 7%
$644,000
Cap Rate 9%
$500,889
Alternative Uses
Best Use
Apartment 5plus
$644.0K
$563.5K – $751.3K
NOI $45,080 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,600 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 01570, MA
17,776
Population
8,211
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,434
Density / Sq Mi
$68,934
Median Household Income
$43,595
Median Earnings
$1,135
Median Rent
$339,600
Median Home Value
Check the figures for this property
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?
Apartment building - Well-maintained, fully rented five-family property with off-street parking and garage.
Where is this apartment building located?
The property is located at 17 Mount Pleasant St Webster, MA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: De‑leaded 5‑family investment property with a mix of unit sizes.; Significant potential to increase rental income.; Off‑street parking for all units.
