Triplex with Off-Street
For Sale
$949,900
173 Howe Street, Marlborough, MA 01752
Three-unit residential property with varied layouts, basement storage, and convenient access to regional routes and downtown amenities.
Property Size3,675 SF
Price / SF$258.48
Days on Market203
Property Features for 173 Howe Street
General Information
Standard status
Active
Size
3,675 SF
Total Parking Spaces
6
Property subtype
Multi-family / 3 Family
Zoning
Res
Net Operating Income
$68,400
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,859
Amenities
off-street parking
basement storage
washer/dryer hookup
No
Wood, Vinyl, Carpet
Range, Dishwasher, Refrigerator
3.0
Skylight(s), Screens
Washer Hookup, Dryer Hookup
Full, Interior Access
Ceiling Fan(s), Storage, Bathroom With Tub, Country Kitchen, Walk-Up Attic, Slider, Pantry, Living Room, Kitchen, Laundry Room
3
3.00
Frame
Shingle
Easements
Rain Gutters, Screens, Deck
Lake/Pond, 1 to 2 Mile To Beach, Beach Ownership(Public)
Deck
Building Details
Year Built
1900
Listing Agency:
RE/MAX Executive Realty
(508) 480-8400
Listed By:
S. Elaine McDonald · License #90417
(508) 480-8400
Source:
Compass
Added: Feb 8
Changed: Aug 29
Last Checked: Aug 29 at 9:02PM
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 RE/MAX Executive Realty
Investment Insights
Based on property information with market context.
This three-unit residential property includes 3,675 square feet of space across a main building and a private rear unit. The first-floor main unit has two bedrooms, a living room, and a country kitchen. Upstairs, the additional main-building unit includes a living room, large kitchen, primary bedroom, two more bedrooms in the walk-up attic, and washer and dryer hookups; central air is also provided. The rear residence offers two bedrooms, living room, kitchen, pantry, and a newer roof.
Property features include three separate electrical panels plus a common panel, three forced hot water gas heating systems, basement storage, full basement access, a deck, and off-street parking. The property is zoned Res and was built in 1900. It is near Routes 9, 20, 85, 290, and 495, with downtown restaurants, a local brewery, and the Rail Trail within walking distance. Lake Williams is also nearby.
Property features include three separate electrical panels plus a common panel, three forced hot water gas heating systems, basement storage, full basement access, a deck, and off-street parking. The property is zoned Res and was built in 1900. It is near Routes 9, 20, 85, 290, and 495, with downtown restaurants, a local brewery, and the Rail Trail within walking distance. Lake Williams is also nearby.
Key Highlights
- Three‑unit property with 3,675 square feet
- Main building includes two residential units with two- and three‑bedroom layouts
- Private rear unit includes two bedrooms, pantry, and a newer roof
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
$77,764
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
8.19%
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%
$1,555,280
$1.6M
Cap Rate 7%
$1,110,914
$1.1M
Cap Rate 9%
$864,044
$864.0K
Market Conditions
NOI Build-Up for 3,675 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
$116.9K $31.80/SF
− Vacancy
−$5.8K −$1.57/SF
EGI
$111.1K $30.23/SF
− OpEx
−$33.3K −$9.07/SF
NOI
$77.8K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,555,280
Cap Rate 7%
$1,110,914
Cap Rate 9%
$864,044
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$972.1K – $1.30M
NOI $77,764 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$1.04M
$914.0K – $1.22M
NOI $73,120 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$2.18M
$1.90M – $2.54M
NOI $152,291 @ 7.0% cap · market cap 16.03%
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
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
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 residential property with varied layouts, basement storage, and convenient access to regional routes and downtown amenities.
Where is this triplex located?
The property is located at 173 Howe Street Marlborough, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three‑unit property with 3,675 square feet; Main building includes two residential units with two- and three‑bedroom layouts; Private rear unit includes two bedrooms, pantry, and a newer roof
