Updated Triplex with Newer
For Sale
$799,900
18 Haynes Street, Worcester, MA 01603
Three-unit property with renovated upper floors and several major building systems already updated.
Property Size3,204 SF
Price / SF$249.66
Days on Market159
Property Features for 18 Haynes Street
General Information
Standard status
Active
Size
3,204 SF
Total Parking Spaces
6
Property subtype
Multi-family / 3 Family
Zoning
RG-5
Net Operating Income
$63,600
Taxes and HOA fees
Annual Taxes
$7,136
Amenities
No, Yes, .00, Paved Drive, Paved Drive
No
Tile
Range, Microwave, Refrigerator, Washer, Dryer
3.0
Electric Dryer Hookup
Unfinished Basement
Bathroom With Tub & Shower, Upgraded Cabinets, Upgraded Countertops, Bathroom with Shower Stall, Open Floorplan, Remodeled, Living Room, Dining Room, Kitchen, Laundry Room, Window AC
3
3.00
Frame
Shingle
Level
Rain Gutters
Building Details
Year Built
1923
Listing Agency:
Mathieu Newton Sotheby's International Realty
(508) 366-9608
Listed By:
Julia Quill · License #9570936
(508) 366-9608
Source:
Compass
Added: Mar 25
Changed: Aug 29
Last Checked: Aug 29 at 11:23PM
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 Mathieu Newton Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 3,204-square-foot triplex, built in 1923, contains 6 bedrooms and 3 bathrooms across three residential units. The second- and third-floor apartments have been updated, while the interior includes kitchens, living and dining areas, laundry space, and an unfinished basement. Tile finishes, upgraded cabinetry and countertops, bathroom improvements, and included appliances add functional detail. The building also features a frame exterior, shingle roofing, rain gutters, and a level site.
Major infrastructure improvements include updated plumbing, heating, and electrical systems, along with a newer roof. Zoned RG-5, the property is near Routes 290, 90, and 146, with access to shopping, restaurants, and everyday amenities. The address is 18 Haynes Street in Worcester, Massachusetts.
Major infrastructure improvements include updated plumbing, heating, and electrical systems, along with a newer roof. Zoned RG-5, the property is near Routes 290, 90, and 146, with access to shopping, restaurants, and everyday amenities. The address is 18 Haynes Street in Worcester, Massachusetts.
Key Highlights
- Triplex with 6 bedrooms, 3 bathrooms, and 3,204 sq ft of living space
- Second- and third‑floor units have been updated
- Updated plumbing, heating, and electrical systems
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
$47,052
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
5.88%
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%
$941,040
$941.0K
Cap Rate 7%
$672,171
$672.2K
Cap Rate 9%
$522,800
$522.8K
Market Conditions
NOI Build-Up for 3,204 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
$71.1K $22.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$67.2K $20.98/SF
− OpEx
−$20.2K −$6.29/SF
NOI
$47.1K $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%
$941,040
Cap Rate 7%
$672,171
Cap Rate 9%
$522,800
Alternative Uses
Best Use
Multifamily LT 5
$672.2K
$588.2K – $784.2K
NOI $47,052 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$617.0K
$539.9K – $719.9K
NOI $43,192 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.07M
$935.8K – $1.25M
NOI $74,860 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
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-unit property with renovated upper floors and several major building systems already updated.
Where is this triplex located?
The property is located at 18 Haynes Street Worcester, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Triplex with 6 bedrooms, 3 bathrooms, and 3,204 sq ft of living space; Second- and third‑floor units have been updated; Updated plumbing, heating, and electrical systems
