Triplex With Private
New
For Sale
$750,000
15 Sigel St, Worcester, MA 01610
Three spacious apartments feature updated baths, eat-in kitchens, individual outdoor areas, and off-street parking.
Property Size4,416 SF
Price / SF$169.84
Days on Market3
Property Features for 15 Sigel St
General Information
Standard status
Active
Size
4,416 SF
Total Parking Spaces
6
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,964
Amenities
porches
Building Details
Building Size
4,416 SF
Year Built
1900
Stories
3
Units
3
Listed By:
Rayna Shelton-Wynn
(617) 869-5164
Source:
Elliman
Added: Sep 5
Last Checked: Sep 6 at 10:52AM
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 Rayna Shelton-Wynn
Investment Insights
Based on property information with market context.
Located at 15 Sigel St in Worcester, this 1900 triplex contains 4,416 square feet, 18 rooms, and approximately 1,470 square feet per floor. Each apartment includes a kitchen, dining room, living room, and private porch, with wide-plank pine flooring, updated baths, gas cooking, pantry shelving, and fresh paint. The renovated bathrooms feature stone-top vanities, tiled floors, and recessed lighting. Double-pane windows have been updated, including unit 2 windows replaced in 2023.
The property provides off-street parking for 4–6 cars and includes a shed with a snow plow. One apartment is vacant, offering immediate occupancy potential. Crompton Park is two blocks away, while Polar Park and the WooSox are approximately a twelve-minute walk. Route 146 begins at the end of the block, I-290 is a half mile away, and Union Station is about a mile from the property. Walk Score is 85, Bike Score is 58, and Transit Score is 50.
The property provides off-street parking for 4–6 cars and includes a shed with a snow plow. One apartment is vacant, offering immediate occupancy potential. Crompton Park is two blocks away, while Polar Park and the WooSox are approximately a twelve-minute walk. Route 146 begins at the end of the block, I-290 is a half mile away, and Union Station is about a mile from the property. Walk Score is 85, Bike Score is 58, and Transit Score is 50.
Key Highlights
- Three‑family property with 4,416 sq ft and 18 rooms
- Approximately 1,470 sq ft per floor
- Private porches on all three levels with new decking, rails, and posts
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
$64,850
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
8.65%
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%
$1,297,000
$1.3M
Cap Rate 7%
$926,429
$926.4K
Cap Rate 9%
$720,556
$720.6K
Market Conditions
NOI Build-Up for 4,416 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
$98.0K $22.20/SF
− Vacancy
−$5.4K −$1.22/SF
EGI
$92.6K $20.98/SF
− OpEx
−$27.8K −$6.29/SF
NOI
$64.9K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /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%
$1,297,000
Cap Rate 7%
$926,429
Cap Rate 9%
$720,556
Alternative Uses
Best Use
Multifamily LT 5
$926.4K
$810.6K – $1.08M
NOI $64,850 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$850.4K
$744.1K – $992.2K
NOI $59,530 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,178 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,933
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
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?
Triplex - Three spacious apartments feature updated baths, eat-in kitchens, individual outdoor areas, and off-street parking.
Where is this triplex located?
The property is located at 15 Sigel St Worcester, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑family property with 4,416 sq ft and 18 rooms; Approximately 1,470 sq ft per floor; Private porches on all three levels with new decking, rails, and posts
