Three-Unit Residential
New
For Sale
$699,865
16 Reservoir Street, Worcester, MA 01605
Three-story multifamily property with private yard and convenient access to hospitals, schools, bus routes, and commuter connections.
Property Size4,125 SF
Price / SF$169.66
Days on Market6
Property Features for 16 Reservoir Street
General Information
Standard status
Active
Size
4,125 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
private yard
Building Details
Year Built
1890
Stories
3
Listing Agency:
Starterline
Listed By:
Ray Lopolito
(781) 933-7200
Source:
Jmulkerinrealty
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 6 at 9:38AM
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 Starterline
Investment Insights
Based on property information with market context.
This three-unit residential property contains 4,125 square feet across three stories, with nine bedrooms and one full bathroom serving each unit. Built in 1890, the building also includes a private yard and has undergone recent updates. Permits associated with the work were applied for and are being closed out by a licensed contractor.
Located at 16 Reservoir Street in Worcester, the property is near hospital services, bus routes, schools, and commuter access. Its three-unit configuration and substantial bedroom count provide a defined multifamily layout within the Belmont St Hill area.
Located at 16 Reservoir Street in Worcester, the property is near hospital services, bus routes, schools, and commuter access. Its three-unit configuration and substantial bedroom count provide a defined multifamily layout within the Belmont St Hill area.
Key Highlights
- 4,125‑square‑foot triplex at 16 Reservoir Street, Worcester, MA 01605
- Three‑story building with nine bedrooms
- One full bathroom in each unit
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
$60,577
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
8.66%
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%
$1,211,540
$1.2M
Cap Rate 7%
$865,386
$865.4K
Cap Rate 9%
$673,078
$673.1K
Market Conditions
NOI Build-Up for 4,125 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
$91.6K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$86.5K $20.98/SF
− OpEx
−$26.0K −$6.29/SF
NOI
$60.6K $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%
$1,211,540
Cap Rate 7%
$865,386
Cap Rate 9%
$673,078
Alternative Uses
Best Use
Multifamily LT 5
$865.4K
$757.2K – $1.01M
NOI $60,577 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$794.4K
$695.1K – $926.8K
NOI $55,607 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,378 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,476
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-story multifamily property with private yard and convenient access to hospitals, schools, bus routes, and commuter connections.
Where is this triplex located?
The property is located at 16 Reservoir Street Worcester, MA.
What is the asking price?
The asking price for this property is $699,865.
What are key features of this property?
This property features: 4,125‑square‑foot triplex at 16 Reservoir Street, Worcester, MA 01605; Three‑story building with nine bedrooms; One full bathroom in each unit
