Three-Unit Residential Income
14 Derby Street Worcester, MA 01604
14 Derby Street, Worcester, MA, 01604
$699,000
Pending
For Sale
$699,000
Pending
Three-unit property with 9 bedrooms and 3 bathrooms, including recent roof and select 2025 system upgrades.
Property Size3,954 SF
Days on Market43
Property Features for 14 Derby Street
General Information
- Standard status
- Pending
- Size
- 3,954 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1915
Listing agency
Thread Real Estate, LLC
(781) 728-9689
Listed by
Minh Voduy · License #9556584
(781) 728-9689
Source
Compass
Added: Jun 10 Updated: Jul 21 at 8:41AM Checked: Jul 22 at 11:25AM
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 Thread Real Estate, LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property offers a total of 9 bedrooms and 3 bathrooms across its units, with spacious layouts intended to provide comfortable living space. The property includes more than 10 parking spaces for tenant and visitor convenience. Unit 3 will be delivered vacant.
Updates include a roof approximately 9 years old, with a new heating system on the 3rd floor installed in 2025. New water heaters were also installed for the 1st and 2nd floor units in 2025.
The configuration and recent improvements make the building well-suited for investors evaluating a multi-family asset or owner-occupants looking for flexibility within a three-family format.
Updates include a roof approximately 9 years old, with a new heating system on the 3rd floor installed in 2025. New water heaters were also installed for the 1st and 2nd floor units in 2025.
The configuration and recent improvements make the building well-suited for investors evaluating a multi-family asset or owner-occupants looking for flexibility within a three-family format.
Key Highlights
- Three‑family property built in 1915 with 9 bedrooms and 3 total bathrooms
- Roof is approximately 9 years old; shingle roof
- Select 2025 upgrades: new heating system for the 3rd floor (2025)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.8k | $22.20 |
| − Vacancy | −$4.8k | −$1.22 |
| EGI | $83.0k | $20.98 |
| − OpEx | −$24.9k | −$6.29 |
| NOI | $58.1k | $14.69 |
3,954 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$829.5K
$725.8K – $967.8K
NOI $58,066 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$761.5K
$666.3K – $888.4K
NOI $53,302 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,383 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property with 9 bedrooms and 3 bathrooms, including recent roof and select 2025 system upgrades.
Where is this triplex located?
The property is located at 14 Derby Street Worcester, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑family property built in 1915 with 9 bedrooms and 3 total bathrooms; Roof is approximately 9 years old; shingle roof; Select 2025 upgrades: new heating system for the 3rd floor (2025)
