Three-Unit Residential Income
For Sale
$550,000
15 Liberty Street, Southbridge, MA 01550
Well-maintained three-family home with garage, driveway, and street parking.
Property Size2,688 SF
Price / SF$204.61
Days on Market81
Property Features for 15 Liberty Street
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1950
Listing Agency:
Century 21 Limitless
(508) 726-3492
Listed By:
Kyle Seyboth · License #32535
(617) 875-4950
Source:
Sarkisboston
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 23 at 4:51AM
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 Century 21 Limitless
Investment Insights
Based on property information with market context.
This well-maintained three-family residential property offers three separate units in a single building. The home provides spacious layouts across all three units and includes practical on-site parking options with a garage, driveway, and street parking available.
Located in an established residential neighborhood in Southbridge, the property is described as close to schools, parks, and community services. The area also offers easy access to Downtown Southbridge for restaurants, cafes, shops, and year-round community events.
Convenient transportation access is highlighted near Route 131, Route 169, and Interstate 90, supporting travel throughout Central Massachusetts and into Connecticut. The listing also notes proximity to UMass Memorial Health – Harrington Hospital and Westville Recreation Area.
Located in an established residential neighborhood in Southbridge, the property is described as close to schools, parks, and community services. The area also offers easy access to Downtown Southbridge for restaurants, cafes, shops, and year-round community events.
Convenient transportation access is highlighted near Route 131, Route 169, and Interstate 90, supporting travel throughout Central Massachusetts and into Connecticut. The listing also notes proximity to UMass Memorial Health – Harrington Hospital and Westville Recreation Area.
Key Highlights
- Well‑maintained 3‑family home built in 1950
- Three residential units with spacious layouts
- Garage, driveway, and street parking available
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
$36,335
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
6.61%
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%
$726,700
$726.7K
Cap Rate 7%
$519,071
$519.1K
Cap Rate 9%
$403,722
$403.7K
Market Conditions
NOI Build-Up for 2,688 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
$53.2K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$51.9K $19.31/SF
− OpEx
−$15.6K −$5.79/SF
NOI
$36.3K $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%
$726,700
Cap Rate 7%
$519,071
Cap Rate 9%
$403,722
Alternative Uses
Best Use
Multifamily LT 5
$519.1K
$454.2K – $605.6K
NOI $36,335 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$451.7K
$395.3K – $527.0K
NOI $31,622 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$917.9K
$803.2K – $1.07M
NOI $64,254 @ 7.0% cap · market cap 11.68%
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
635
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
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 - Well-maintained three-family home with garage, driveway, and street parking.
Where is this triplex located?
The property is located at 15 Liberty Street Southbridge, MA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Well‑maintained 3‑family home built in 1950; Three residential units with spacious layouts; Garage, driveway, and street parking available
