Building Details

Building Size 3,912 SF

Year Built 1910

Stories 7

Units 3

Listing Agency: c***@chris-whitten.com Show Phone

Listed By: Chris Whitten · License #453011256 Show Phone

Source: Elliman

Added: Aug 18 Changed: Aug 19 Last Checked: Aug 20 at 8:22AM

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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 Chris Whitten

Investment Insights

Based on property information with market context.

This 1910 triplex contains three residential units with 11 total bedrooms and nearly 4,000 sqft of living area on 0.46 usable acres. The two upper units have matching five-bedroom, one-bath layouts with kitchens, dining rooms, living rooms, additional bedrooms, and sitting or den areas. A walkout lower-level unit includes a kitchen, living room, bathroom, bedroom, and bonus room. Each unit has in-unit laundry.

The property includes two separate driveways, a large backyard, and side yard. Existing improvements include an architectural shingled roof, replacement windows, hardwood flooring, public water and sewer, and natural gas service. The property is a couple of blocks from Church St and Hill St, with Whitin Community Center nearby. Providence and Worcester are approximately 20–25 minutes away.

Key Highlights

• Three‑unit property with 11 total bedrooms
• Nearly 4,000 sqft of living area on 0.46 usable acres
• Two separate driveways, large backyard, and side yard

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

$52,881

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

8.20%

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%

$1,057,620 $1.1M

Cap Rate 7%

$755,443 $755.4K

Cap Rate 9%

$587,567 $587.6K

Market Conditions

NOI Build-Up for 3,912 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

$77.5K $19.80/SF

− Vacancy

−$1.9K −$0.49/SF

EGI

$75.5K $19.31/SF

− OpEx

−$22.7K −$5.79/SF

NOI

$52.9K $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%

$1,057,620

Cap Rate 7%

$755,443

Cap Rate 9%

$587,567

Alternative Uses

Best Use

Multifamily LT 5

$755.4K

$661.0K – $881.4K (±1% cap)

NOI $52,881 @ 7.0% cap · market cap 8.20%

Second Best

Apartment 5plus

$657.4K

$575.3K – $767.0K (±1% cap)

NOI $46,021 @ 7.0% cap · market cap 7.14%

Theoretical Best

Office A

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,512 @ 7.0% cap · market cap 14.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Law Firm Hair Salon Restaurant Dental Office Spa & Massage Center Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

418

Businesses Nearby

Explore this area Business Placement

Demographics for 01588, MA

10,106

Population

4,553

Households

2.2

Avg Household Size

42

Median Age

31%

College-Educated

94%

High-School Grad

8.1 sq mi

ZIP Area

1,248

Density / Sq Mi

$88,735

Median Household Income

$50,855

Median Earnings

$1,263

Median Rent

$413,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units provide varied layouts, multiple kitchens, private laundry, and substantial yard areas on a quiet street.

Where is this triplex located?

The property is located at 42-44 Pine St Whitinsville, MA.

What is the asking price?

The asking price for this property is $645,000.

What are key features of this property?

This property features: Three‑unit property with 11 total bedrooms; Nearly 4,000 sqft of living area on 0.46 usable acres; Two separate driveways, large backyard, and side yard