Three-Unit Residential
New
For Sale
$795,000
2 Shirley Street, Worcester, MA 01610
Three separate apartments provide a 10-bedroom configuration, including one four-bedroom unit and two three-bedroom units.
Property Size4,059 SF
Price / SF$195.86
Days on Market7
Property Features for 2 Shirley Street
General Information
Standard status
Active
Size
4,059 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
needs TLC
Units
Unit Mix
1 x 4BR/1.5BA, 2 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
washer and dryer hookups
Building Details
Year Built
1890
Stories
3
Listing Agency:
Weichert REALTORS,Hope & Associates
Listed By:
Julia Acquaah-Harrison
(508) 795-3885
Source:
Cambridgerealty
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 9:44AM
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 Weichert REALTORS,Hope & Associates
Investment Insights
Based on property information with market context.
This 4,059-square-foot residential property contains three apartments and 10 bedrooms. The first-floor unit has four bedrooms, one and a half bathrooms, washer and dryer hookups, a new stove, and ample living space. The second- and third-floor apartments each have three bedrooms and one bathroom. Hardwood flooring runs throughout all three units. Built in 1890, the building requires updating.
The property is near Clarke University, shops, restaurants, and public transportation.
The property is near Clarke University, shops, restaurants, and public transportation.
Key Highlights
- Three apartments with a combined 10 bedrooms
- First‑floor apartment has 4 bedrooms, 1 1/2 baths, laundry hookups, and a new stove
- Second- and third‑floor apartments each include 3 bedrooms and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,608
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,192,160
$1.2M
Cap Rate 7%
$851,543
$851.5K
Cap Rate 9%
$662,311
$662.3K
Market Conditions
NOI Build-Up for 4,059 SF
Gross rent
$90.1K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$85.2K $20.98/SF
− OpEx
−$25.5K −$6.29/SF
NOI
$59.6K $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 Rate 5%
$1,192,160
Cap Rate 7%
$851,543
Cap Rate 9%
$662,311
Alternative Uses
Best Use
Multifamily LT 5
$851.5K
$745.1K – $993.5K
NOI $59,608 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$781.7K
$684.0K – $912.0K
NOI $54,717 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,836 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,604
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments provide a 10-bedroom configuration, including one four-bedroom unit and two three-bedroom units.
Where is this triplex located?
The property is located at 2 Shirley Street Worcester, MA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three apartments with a combined 10 bedrooms; First‑floor apartment has 4 bedrooms, 1 1/2 baths, laundry hookups, and a new stove; Second- and third‑floor apartments each include 3 bedrooms and 1 bath
