Three-Unit Triplex with
For Sale
$799,999
14 Ericsson Street, Worcester, MA 01606
Updated electrical, roof, and parking improvements accompany flexible vacant delivery in Worcester’s Greendale neighborhood.
Property Size3,918 SF
Price / SF$204.19
Days on Market11
Property Features for 14 Ericsson Street
General Information
Standard status
Active
Size
3,918 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
garage
off-street parking
private deck
Building Details
Year Built
1925
Buildings
1
Listing Agency:
RE/MAX Vision
Listed By:
Mark Consolmagno
(508) 595-9900
Source:
Elevatedboston
Added: Aug 25
Changed: Sep 3
Last Checked: Sep 4 at 9:48AM
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 RE/MAX Vision
Investment Insights
Based on property information with market context.
This 3,918-square-foot triplex, built in 1925, contains three residential units with matching layouts of 3 bedrooms and 1 full bath. Interior features include hardwood flooring and gas heat. Building improvements include updated electrical service with a separate landlord meter, along with a newer roof and gutters. A 3-car garage, additional off-street parking, and a private outdoor deck serving the first-floor unit add practical functionality.
The property is located on Ericsson Street in Worcester’s Greendale neighborhood, with access to major highways, shopping, dining, and other area amenities. Delivery can be vacant, allowing an owner-occupant or investor to establish a preferred tenancy plan.
The property is located on Ericsson Street in Worcester’s Greendale neighborhood, with access to major highways, shopping, dining, and other area amenities. Delivery can be vacant, allowing an owner-occupant or investor to establish a preferred tenancy plan.
Key Highlights
- Three units, each with 3 bedrooms and 1 full bath
- 3,918 SF triplex built in 1925
- Updated electrical with a separate landlord meter
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
$57,537
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
7.19%
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%
$1,150,740
$1.2M
Cap Rate 7%
$821,957
$822.0K
Cap Rate 9%
$639,300
$639.3K
Market Conditions
NOI Build-Up for 3,918 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
$87.0K $22.20/SF
− Vacancy
−$4.8K −$1.22/SF
EGI
$82.2K $20.98/SF
− OpEx
−$24.7K −$6.29/SF
NOI
$57.5K $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%
$1,150,740
Cap Rate 7%
$821,957
Cap Rate 9%
$639,300
Alternative Uses
Best Use
Multifamily LT 5
$822.0K
$719.2K – $959.0K
NOI $57,537 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$754.5K
$660.2K – $880.3K
NOI $52,817 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$1.31M
$1.14M – $1.53M
NOI $91,542 @ 7.0% cap · market cap 11.44%
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
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
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 - Updated electrical, roof, and parking improvements accompany flexible vacant delivery in Worcester’s Greendale neighborhood.
Where is this triplex located?
The property is located at 14 Ericsson Street Worcester, MA.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and 1 full bath; 3,918 SF triplex built in 1925; Updated electrical with a separate landlord meter
