Three-Unit Multifamily
For Sale
$759,900
17 Winthrop Street, Worcester, MA 01604
Well-maintained triplex with separately metered utilities, off-street parking, and established tenant occupancy.
Property Size3,168 SF
Lot Size0.12 Acres
Price / SF$239.87
Days on Market11
Property Features for 17 Winthrop Street
General Information
Standard status
Active
Size
3,168 SF
Lot size
0.12 Acres
Property subtype
Multi-family
Zoning
RG-5
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Building Details
Year Built
1909
Tenancy
Multi
Listing Agency:
Cristiano Jarbas,Inc.
Listed By:
Cristiano Jarbas
(617) 680-0690
Source:
Inrealtyinc
Added: Aug 24
Changed: Sep 3
Last Checked: Sep 2 at 8:24PM
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 Cristiano Jarbas,Inc.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains approximately 3,168 square feet of living area on an approximately 5,066-square-foot lot. Each residence includes three bedrooms, a living room, and dining space. Separate electric meters, heating systems, and water heaters serve the units, while laundry is available in Units 1 and 2. Off-street parking is provided.
The property has updated electrical and plumbing systems, plus hardwired smoke and carbon monoxide detectors. Common areas and Unit 2 have been tested and deleaded. Zoned RG-5 and connected to city water and sewer, the property is near shopping, schools, major routes, and highway access. All three units are occupied under Tenant-at-Will arrangements, and the sale is subject to the existing tenancies and offered as-is.
The property has updated electrical and plumbing systems, plus hardwired smoke and carbon monoxide detectors. Common areas and Unit 2 have been tested and deleaded. Zoned RG-5 and connected to city water and sewer, the property is near shopping, schools, major routes, and highway access. All three units are occupied under Tenant-at-Will arrangements, and the sale is subject to the existing tenancies and offered as-is.
Key Highlights
- Three‑unit property with 3 bedrooms in each unit
- Approximately 3,168 sq ft of living area on an approximately 5,066 sq ft lot
- Separate electric meters, heating systems, and water heaters for 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
$46,523
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
6.12%
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%
$930,460
$930.5K
Cap Rate 7%
$664,614
$664.6K
Cap Rate 9%
$516,922
$516.9K
Market Conditions
NOI Build-Up for 3,168 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
$70.3K $22.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$66.5K $20.98/SF
− OpEx
−$19.9K −$6.29/SF
NOI
$46.5K $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%
$930,460
Cap Rate 7%
$664,614
Cap Rate 9%
$516,922
Alternative Uses
Best Use
Multifamily LT 5
$664.6K
$581.5K – $775.4K
NOI $46,523 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$610.1K
$533.8K – $711.8K
NOI $42,706 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M
NOI $74,019 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
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 - Well-maintained triplex with separately metered utilities, off-street parking, and established tenant occupancy.
Where is this triplex located?
The property is located at 17 Winthrop Street Worcester, MA.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: Three‑unit property with 3 bedrooms in each unit; Approximately 3,168 sq ft of living area on an approximately 5,066 sq ft lot; Separate electric meters, heating systems, and water heaters for each unit
