Renovated Triplex with Tandem
For Sale
$929,900
15 Stanton St, Worcester, MA 01605
Three updated residences offer spacious layouts, dedicated office or den areas, and shared building amenities.
Property Size4,112 SF
Price / SF$226.14
Days on Market81
Property Features for 15 Stanton St
General Information
Standard status
Active
Size
4,112 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Additional Details
Gross Income
$94,200
Amenities
coin-operated laundry room
security camera system with remote monitoring
landlord-controlled building-wide WiFi
Building Details
Year Built
1910
Year Renovated
2020
Listing Agency:
Coldwell Banker Realty - Andovers/Readings Regional
(978) 995-4885
Listed By:
Jennifer Mason
(978) 995-4885
Source:
Lockandkeyre
Added: Jun 13
Changed: Aug 30
Last Checked: Aug 31 at 3:35PM
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 Coldwell Banker Realty - Andovers/Readings Regional
Investment Insights
Based on property information with market context.
This 4,112-square-foot triplex was renovated to the studs in 2020 and contains three residential units. Each apartment includes 3 bedrooms, 2 full baths, office or den space, updated kitchens with stainless steel appliances and granite countertops, and hardwood floors. Building improvements include updated electrical and plumbing, new siding, roof, windows, porches, and retaining wall.
The property also provides off-street tandem parking, a second-floor coin-operated laundry room, landlord-controlled building-wide WiFi, and a modern security camera system with remote monitoring. Its Worcester setting is near UMass Memorial Medical Center, UMass Chan Medical School, shopping, dining, public transportation, and major highways.
The property also provides off-street tandem parking, a second-floor coin-operated laundry room, landlord-controlled building-wide WiFi, and a modern security camera system with remote monitoring. Its Worcester setting is near UMass Memorial Medical Center, UMass Chan Medical School, shopping, dining, public transportation, and major highways.
Key Highlights
- 4,112 SF triplex renovated to the studs in 2020
- Three units, each with 3 BR, 2 full baths, and office/den space
- Updated kitchens with stainless steel appliances and granite countertops
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
$60,386
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
6.49%
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%
$1,207,720
$1.2M
Cap Rate 7%
$862,657
$862.7K
Cap Rate 9%
$670,956
$671.0K
Market Conditions
NOI Build-Up for 4,112 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
$91.3K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$86.3K $20.98/SF
− OpEx
−$25.9K −$6.29/SF
NOI
$60.4K $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%
$1,207,720
Cap Rate 7%
$862,657
Cap Rate 9%
$670,956
Alternative Uses
Best Use
Multifamily LT 5
$862.7K
$754.8K – $1.01M
NOI $60,386 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$791.9K
$692.9K – $923.9K
NOI $55,432 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,075 @ 7.0% cap · market cap 10.33%
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
1,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
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 updated residences offer spacious layouts, dedicated office or den areas, and shared building amenities.
Where is this triplex located?
The property is located at 15 Stanton St Worcester, MA.
What is the asking price?
The asking price for this property is $929,900.
What are key features of this property?
This property features: 4,112 SF triplex renovated to the studs in 2020; Three units, each with 3 BR, 2 full baths, and office/den space; Updated kitchens with stainless steel appliances and granite countertops
