Multifamily Property with Detached
New
For Sale
$649,900
168-170 S Main St, Hopedale, MA 01757
Three residential units occupy a main house and a separate garage structure with additional living space.
Property Size3,542 SF
Days on Market4
Property Features for 168-170 S Main St
General Information
Standard status
Active
Size
3,542 SF
Total Parking Spaces
2
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,067
Building Details
Building Size
3,542 SF
Year Built
1780
Buildings
2
Stories
2
Units
3
Listing Agency:
(508) 740-3909
Listed By:
Cristiano Jarbas
(508) 740-3909
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 24 at 6:09AM
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 Cristiano Jarbas
Investment Insights
Based on property information with market context.
This multifamily property includes two buildings and three residential units. The main house contains two apartments totaling over 3,000 sq ft combined. Its first-floor residence has 7 rooms, 3 bedrooms, 1.5 baths, an eat-in kitchen, family room with wet bar and fireplace, dining room, office with built-ins, bay window, and a 3-season porch. The second-floor residence includes 5 rooms, a kitchen, living room, and 3 bedrooms.
A detached 2-car garage is paired with an attached 3-room studio-style unit featuring a fireplace. Any reconfiguration is subject to town approval and permitting. The property sits on just under half an acre and includes a backyard. The main house roof is approximately 10 years old, with some replacement windows. The property is being sold AS-IS near major routes, downtown, shopping, and local amenities.
A detached 2-car garage is paired with an attached 3-room studio-style unit featuring a fireplace. Any reconfiguration is subject to town approval and permitting. The property sits on just under half an acre and includes a backyard. The main house roof is approximately 10 years old, with some replacement windows. The property is being sold AS-IS near major routes, downtown, shopping, and local amenities.
Key Highlights
- Main house includes two units totaling over 3,000 sq ft combined
- Detached 2‑car garage with attached 3‑room studio‑style unit
- First‑floor unit offers 7 rooms, 3 bedrooms, and 1.5 baths
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
$47,880
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
7.37%
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%
$957,600
$957.6K
Cap Rate 7%
$684,000
$684.0K
Cap Rate 9%
$532,000
$532.0K
Market Conditions
NOI Build-Up for 3,542 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
$70.1K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$68.4K $19.31/SF
− OpEx
−$20.5K −$5.79/SF
NOI
$47.9K $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%
$957,600
Cap Rate 7%
$684,000
Cap Rate 9%
$532,000
Alternative Uses
Best Use
Multifamily LT 5
$684.0K
$598.5K – $798.0K
NOI $47,880 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$595.3K
$520.9K – $694.5K
NOI $41,668 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,668 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 01757, MA
30,479
Population
11,833
Households
2.6
Avg Household Size
40
Median Age
34%
College-Educated
87%
High-School Grad
15.1 sq mi
ZIP Area
2,018
Density / Sq Mi
$92,951
Median Household Income
$47,975
Median Earnings
$1,702
Median Rent
$444,100
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?
Multifamily property - Three residential units occupy a main house and a separate garage structure with additional living space.
Where is this multifamily property located?
The property is located at 168-170 S Main St Hopedale, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Main house includes two units totaling over 3,000 sq ft combined; Detached 2‑car garage with attached 3‑room studio‑style unit; First‑floor unit offers 7 rooms, 3 bedrooms, and 1.5 baths
