Victorian 4-Unit Multifamily with
For Sale
$799,900
Pending
125 Walnut St, Leominster, MA 01453
Four-unit Victorian property with wrap-around porch, separate utilities, gas heat in each unit, and off-street parking.
Property Size3,773 SF
Days on Market39
Property Features for 125 Walnut St
General Information
Standard status
Pending
Size
3,773 SF
Total Parking Spaces
11
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$10,694
Building Details
Building Size
3,773 SF
Year Built
1900
Listing Agency:
Quinsigamond Realty
(413) 717-0635
Listed By:
Kim German
Source:
Classifiedrealtygroup
Added: Jul 18
Changed: Aug 23
Last Checked: Aug 8 at 2:48AM
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 Quinsigamond Realty
Investment Insights
Based on property information with market context.
This Victorian-style multifamily features four separate units and a wrap-around porch. The first-floor unit includes high ceilings, a large kitchen with center island, upgraded cabinetry, and granite surfaces, along with a dining room with hardwood floors that opens to the living room with a fireplace and built-ins. It also offers an interior office area, a spacious bedroom with an oversized closet, a bonus room, and an in-unit bath with shower and laundry. Three additional units provide two 1-bedroom layouts and one studio with a full kitchen, bath, and walk-in closet.
The property includes three garages and exceptional off-street parking with two spaces allocated for each apartment. Updates include a new roof and a new driveway. Utilities are separate for each unit, with gas heating provided in each unit. The owner pays for hot water for the building, as well as water and sewer, and the property has long-term tenants.
For sale at 125 Walnut St, Leominster, MA, the building is presented as a straightforward income property with multiple unit configurations and dedicated parking.
The property includes three garages and exceptional off-street parking with two spaces allocated for each apartment. Updates include a new roof and a new driveway. Utilities are separate for each unit, with gas heating provided in each unit. The owner pays for hot water for the building, as well as water and sewer, and the property has long-term tenants.
For sale at 125 Walnut St, Leominster, MA, the building is presented as a straightforward income property with multiple unit configurations and dedicated parking.
Key Highlights
- Victorian‑style 4‑unit building with a wrap‑around porch and high‑ceiling first‑floor unit
- New roof and new driveway plus 3 garages and exceptional off‑street parking (2 spaces per apartment)
- Each unit has separate utilities and all gas heating
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
$44,385
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
5.55%
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%
$887,700
$887.7K
Cap Rate 7%
$634,071
$634.1K
Cap Rate 9%
$493,167
$493.2K
Market Conditions
NOI Build-Up for 3,773 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
$82.9K $21.96/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$80.7K $21.39/SF
− OpEx
−$36.3K −$9.63/SF
NOI
$44.4K $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%
$887,700
Cap Rate 7%
$634,071
Cap Rate 9%
$493,167
Alternative Uses
Best Use
Apartment 5plus
$634.1K
$554.8K – $739.8K
NOI $44,385 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,190 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
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?
Multifamily property - Four-unit Victorian property with wrap-around porch, separate utilities, gas heat in each unit, and off-street parking.
Where is this multifamily property located?
The property is located at 125 Walnut St Leominster, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Victorian‑style 4‑unit building with a wrap‑around porch and high‑ceiling first‑floor unit; New roof and new driveway plus 3 garages and exceptional off‑street parking (2 spaces per apartment); Each unit has separate utilities and all gas heating
