Three-Family Income
198 West Main Street Millbury, MA 01527
198 West Main Street, Millbury, MA, 01527
$674,900
Pending
For Sale
$674,900
Pending
Well-maintained 3-unit building with separate utilities and updated electric panels, plus a 2-car garage and enclosed porch.
Property Size3,232 SF
Days on Market50
Property Features for 198 West Main Street
General Information
- Standard status
- Pending
- Size
- 3,232 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1850
Listing agency
REMAX Executive Realty
(508) 839-9219
Listed by
Erika Creamer · License #9050612
(508) 839-9219
Source
Compass
Added: Jun 3 Updated: Jul 10 at 1:51PM Checked: Jul 22 at 11:21AM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This well-maintained three-family residence features a mix of unit layouts, including a 7-room, two-bedroom unit on the second floor. The upper unit includes a kitchen with tray ceilings, off-white cabinets, under-cabinet lighting, and hardwood floors, along with a full dining room and living room plus additional rooms. The primary bedroom is spacious with a walk-in closet and access via French doors to a composite deck overlooking a private, quiet backyard. The other two units are one-bedroom apartments with a living area, kitchen, and a full bath.
The property is located at 198 West Main Street in Millbury, MA 01527. It offers separate utilities for the three units except for water and sewer, and updated electric panels. There is also a two-car garage and an enclosed front porch.
For buyers or operators seeking a residential income property, the building’s unit separation and updated electrical support straightforward day-to-day management. The second-floor two-bedroom configuration provides additional interior space compared with the two one-bedroom units, allowing the property to serve a mix of tenant needs within the same structure.
The property is located at 198 West Main Street in Millbury, MA 01527. It offers separate utilities for the three units except for water and sewer, and updated electric panels. There is also a two-car garage and an enclosed front porch.
For buyers or operators seeking a residential income property, the building’s unit separation and updated electrical support straightforward day-to-day management. The second-floor two-bedroom configuration provides additional interior space compared with the two one-bedroom units, allowing the property to serve a mix of tenant needs within the same structure.
Key Highlights
- Well‑maintained 3‑family building (Year built 1850) in West Millbury
- 7‑room, 2‑bedroom unit on the second floor with hardwood floors and a kitchen featuring tray ceilings, off‑white cabinets, and under‑cabinet lighting
- Two additional 1‑bedroom units, each with living room, kitchen, and full bath
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 - Well-maintained 3-unit building with separate utilities and updated electric panels, plus a 2-car garage and enclosed porch.
Where is this triplex located?
The property is located at 198 West 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 building (Year built 1850) in West Millbury; 7‑room, 2‑bedroom unit on the second floor with hardwood floors and a kitchen featuring tray ceilings, off‑white cabinets, and under‑cabinet lighting; Two additional 1‑bedroom units, each with living room, kitchen, and full bath
