Three-Family Colonial
For Sale
$650,000
Pending
167 Seventh St, Leominster, MA 01453
Three-unit colonial with a private yard and solar panels, positioned for an owner-operator or income-minded buyer.
Property Size2,800 SF
Days on Market55
Property Features for 167 Seventh St
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
3 Family - 3 Units Up/Down
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1924
Stories
2
Listing Agency:
Keller Williams Realty North Central
(978) 502-5890
Listed By:
Eileen Griffin Wright
(978) 502-5890
Source:
Lockandkeyre
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 9 at 4:45AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
Built in 1924, this three-family colonial residence offers a total of five bedrooms and large living spaces. The first-floor unit features a six-room layout, with a kitchen appointed with a peninsula for casual dining. Across the property, there are three full bathrooms, including one with a walk-in shower. The home is described as being in ready-to-move-in condition, supported by a practical configuration for comfortable everyday living.
The property is located at 167 Seventh St in Leominster, near Monument Square and within reach of amenities in the Leominster center. Public remarks also note that the T is a short drive away, which can support tenant and resident convenience.
For buyers seeking a straightforward multifamily asset, the combination of multiple full bathrooms, a private yard, and on-site solar panels may appeal to tenants and owner-operators looking for comfortable, functional units. With a residential-income focus and an immediately usable interior, this property can be a practical fit for those who want to take over without waiting for major initial work.
The property is located at 167 Seventh St in Leominster, near Monument Square and within reach of amenities in the Leominster center. Public remarks also note that the T is a short drive away, which can support tenant and resident convenience.
For buyers seeking a straightforward multifamily asset, the combination of multiple full bathrooms, a private yard, and on-site solar panels may appeal to tenants and owner-operators looking for comfortable, functional units. With a residential-income focus and an immediately usable interior, this property can be a practical fit for those who want to take over without waiting for major initial work.
Key Highlights
- 1924‑built 3‑family colonial at 167 Seventh St, Leominster, MA
- Includes a 6‑room first‑floor apartment with large living area
- Three full bathrooms total, including one walk‑in shower
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
$37,849
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
5.82%
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%
$756,980
$757.0K
Cap Rate 7%
$540,700
$540.7K
Cap Rate 9%
$420,544
$420.5K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$54.1K $19.31/SF
− OpEx
−$16.2K −$5.79/SF
NOI
$37.8K $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%
$756,980
Cap Rate 7%
$540,700
Cap Rate 9%
$420,544
Alternative Uses
Best Use
Multifamily LT 5
$540.7K
$473.1K – $630.8K
NOI $37,849 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$470.6K
$411.7K – $549.0K
NOI $32,939 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$956.2K
$836.6K – $1.12M
NOI $66,931 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
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-unit colonial with a private yard and solar panels, positioned for an owner-operator or income-minded buyer.
Where is this triplex located?
The property is located at 167 Seventh St Leominster, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1924‑built 3‑family colonial at 167 Seventh St, Leominster, MA; Includes a 6‑room first‑floor apartment with large living area; Three full bathrooms total, including one walk‑in shower
