Three-Family Property with Upside
For Sale
$324,495
Pending
66 Whitcomb St, Webster, MA 01570
Three-unit property near amenities with renovation and income potential.
Property Size1,375 SF
Days on Market143
Property Features for 66 Whitcomb St
General Information
Standard status
Pending
Size
1,375 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,905
Building Details
Building Size
1,375 SF
Year Built
1900
Stories
3
Units
3
Listed By:
Teresa Murnane
(774) 495-0167
Source:
Elliman
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 13 at 7:58AM
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 Teresa Murnane
Investment Insights
Based on property information with market context.
This three-family property offers potential for investors, contractors, or buyers interested in building equity through renovation. The multi-family property features three separate units, presenting an opportunity to reimagine the space and add value. This property provides the flexibility to update, improve, and capitalize on rental demand. It is located near local amenities, shopping, restaurants, and major routes, offering a practical setting for future tenants. The property is sold as-is. The bike score is 39, indicating it is somewhat bikeable. The walk score is 72, indicating it is very walkable.
Key Highlights
- Strong upside potential for investors/contractors through renovation.
- Three separate units offer income potential.
- Convenient location near local amenities, shopping, restaurants, and major routes.
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
$18,587
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
5.73%
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%
$371,740
$371.7K
Cap Rate 7%
$265,529
$265.5K
Cap Rate 9%
$206,522
$206.5K
Market Conditions
NOI Build-Up for 1,375 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
$27.2K $19.80/SF
− Vacancy
−$672 −$0.49/SF
EGI
$26.6K $19.31/SF
− OpEx
−$8.0K −$5.79/SF
NOI
$18.6K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$371,740
Cap Rate 7%
$265,529
Cap Rate 9%
$206,522
Alternative Uses
Best Use
Multifamily LT 5
$265.5K
$232.3K – $309.8K
NOI $18,587 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$231.1K
$202.2K – $269.6K
NOI $16,175 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$469.5K
$410.9K – $547.8K
NOI $32,868 @ 7.0% cap · market cap 10.13%
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
544
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?
Triplex - Three-unit property near amenities with renovation and income potential.
Where is this triplex located?
The property is located at 66 Whitcomb St Webster, MA.
What is the asking price?
The asking price for this property is $324,495.
What are key features of this property?
This property features: Strong upside potential for investors/contractors through renovation.; Three separate units offer income potential.; Convenient location near local amenities, shopping, restaurants, and major routes.
