Well-Maintained Three-Family
198 W Main Street Millbury, MA 01527
198 W Main Street, Millbury, MA, 01527
$674,900
Pending
For Sale
$674,900
Pending
MULTI_FAMILY - Millbury, MA
Property Size3,232 SF
Lot Size0.54 Acres
Days on Market48
Property Features for 198 W Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- -
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
- Parking
- 8
- Standard status
- Pending
- APN
- 3582605
- Size
- 3,232 SF
- Lot size
- 0.54 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7828
Building Details
- Year built
- 1850
- Floors in Building
- 4
- Number of units
- 3
Listing Agency
REMAX Executive Realty
(508) 839-9219
68 Worcester Street, North Grafton, MA
Listed by
Bill Wright · License #5503
(508) 839-9219
Added: Jun 3 Updated: Jul 20 at 9:45 am Checked: Jul 20 at 11:06 pm
MLS# 73529191
Listing URL
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained three-family home offers a practical investment setup with three separate residential units. The second-floor unit features seven rooms with two bedrooms, highlighted by an attractive kitchen with tray ceiling, off-white cabinetry, under-cabinet lighting, and hardwood floors. It also includes a full dining room and a spacious upper-level layout with additional rooms, along with a primary bedroom that has a walk-in closet and French doors opening to a composite deck overlooking a private, quiet backyard. The other two units are one-bedroom apartments, each with a living room, kitchen, and a full bath.
The property is located at 198 W Main Street in Millbury, MA. It includes a two-car garage and an enclosed front porch, providing additional convenience and sheltered entry. Utility arrangements are designed for tenant independence, with separate utilities except for water and sewer. The electric panels have also been updated.
For investors, this configuration can help diversify income within a single asset, while the distinct unit layouts may appeal to a range of tenants. For owner-occupants, the two one-bedroom apartments can potentially offset living expenses while the larger second-floor unit provides a more substantial home base.
The property is located at 198 W Main Street in Millbury, MA. It includes a two-car garage and an enclosed front porch, providing additional convenience and sheltered entry. Utility arrangements are designed for tenant independence, with separate utilities except for water and sewer. The electric panels have also been updated.
For investors, this configuration can help diversify income within a single asset, while the distinct unit layouts may appeal to a range of tenants. For owner-occupants, the two one-bedroom apartments can potentially offset living expenses while the larger second-floor unit provides a more substantial home base.
Key Highlights
- Well‑maintained 3‑family in West Millbury, built in 1850
- Upper 7‑room, 2‑bedroom unit features a kitchen, full dining room, living room, and additional rooms
- Primary bedroom includes a walk‑in closet and French door to a composite deck overlooking a private, quiet backyard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.0k | $19.80 |
| − Vacancy | −$1.6k | −$0.49 |
| EGI | $62.4k | $19.31 |
| − OpEx | −$18.7k | −$5.79 |
| NOI | $43.7k | $13.52 |
3,232 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$624.1K
$546.1K – $728.2K
NOI $43,689 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$543.2K
$475.3K – $633.7K
NOI $38,021 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.10M
$965.7K – $1.29M
NOI $77,258 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - A well-kept three-unit property with separate utilities and updated electrical, offering strong rental income flexibility.
Where is this triplex located?
The property is located at 198 W Main Street Millbury, MA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Well‑maintained 3‑family in West Millbury, built in 1850; Upper 7‑room, 2‑bedroom unit features a kitchen, full dining room, living room, and additional rooms; Primary bedroom includes a walk‑in closet and French door to a composite deck overlooking a private, quiet backyard
