Updated Triplex with Two-Car
New
For Sale
$780,000
54 State St, Marlborough, MA 01752
Three occupied units combine renovated kitchens with private and shared laundry facilities.
Property Size2,451 SF
Days on Market5
Property Features for 54 State St
General Information
Standard status
Active
Size
2,451 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,074
Amenities
private laundry
coin-operated laundry
yard
deck
Building Details
Building Size
2,451 SF
Year Built
1885
Stories
4
Units
3
Listing Agency:
(508) 889-1095
Listed By:
Jose Natal
(508) 889-1095
Source:
Elliman
Added: Aug 21
Changed: Aug 24
Last Checked: Aug 25 at 8:49AM
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 Jose Natal
Investment Insights
Based on property information with market context.
This three-unit property includes two 2-bedroom apartments and one 1-bedroom apartment, each with its own living area, kitchen, and full bathroom. All three kitchens have been renovated, and the first-floor units include updated cabinetry and new appliances. Unit 1 has private laundry and no carpeting, while Unit 2 adds a private deck. Carpeted bedrooms are present in Units 2 and 3.
A second-floor coin-operated laundry room supplements the in-unit laundry. The basement provides mechanical areas, partitioned rooms, and storage. Exterior features include a 2-car garage, a large driveway with additional parking, and a yard. All units are occupied. The property was built in 1885 and is located at 54 State St, Marlborough, MA 01752.
A second-floor coin-operated laundry room supplements the in-unit laundry. The basement provides mechanical areas, partitioned rooms, and storage. Exterior features include a 2-car garage, a large driveway with additional parking, and a yard. All units are occupied. The property was built in 1885 and is located at 54 State St, Marlborough, MA 01752.
Key Highlights
- Three‑unit configuration with two 2‑bedroom units and one 1‑bedroom unit
- All three kitchens renovated with updated cabinetry and new appliances
- 2‑car garage, large driveway, additional parking, and 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
$51,864
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
6.65%
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%
$1,037,280
$1.0M
Cap Rate 7%
$740,914
$740.9K
Cap Rate 9%
$576,267
$576.3K
Market Conditions
NOI Build-Up for 2,451 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
$77.9K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$74.1K $30.23/SF
− OpEx
−$22.2K −$9.07/SF
NOI
$51.9K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,037,280
Cap Rate 7%
$740,914
Cap Rate 9%
$576,267
Alternative Uses
Best Use
Multifamily LT 5
$740.9K
$648.3K – $864.4K
NOI $51,864 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$696.7K
$609.6K – $812.8K
NOI $48,767 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,569 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
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?
Triplex - Three occupied units combine renovated kitchens with private and shared laundry facilities.
Where is this triplex located?
The property is located at 54 State St Marlborough, MA.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom units and one 1‑bedroom unit; All three kitchens renovated with updated cabinetry and new appliances; 2‑car garage, large driveway, additional parking, and yard
