Victorian Triplex with Detached
For Sale
$625,000
252 Water St, Clinton, MA 01510
Three residential units offer spacious bedrooms, generous kitchens, and washer/dryer hookups in a historic home.
Property Size3,522 SF
Price / SF$177.46
Days on Market8
Property Features for 252 Water St
General Information
Standard status
Active
Size
3,522 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Amenities
washer/dryer hookups
garage
Building Details
Building Size
3,522 SF
Year Built
1900
Buildings
2
Construction
Victorian
Listing Agency:
REMAX Executive Realty
(978) 807-7784
Listed By:
The Journey Group · License #452508574
(978) 807-7784
Source:
Iverty
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 5:55AM
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 Victorian triplex at 252 Water St presents three residential units within a character-rich home built in 1900. The first- and second-floor residences include large bedrooms, full kitchens, and washer/dryer hookups. The top-floor unit adds an updated kitchen, a comfortable living area, and a spacious bedroom.
A detached three-story garage expands the property’s utility with storage and workshop areas. The property is near major routes and within short distance of Clinton’s revitalized downtown, with access to shops, restaurants, the Bigelow Library, and Central Park.
A detached three-story garage expands the property’s utility with storage and workshop areas. The property is near major routes and within short distance of Clinton’s revitalized downtown, with access to shops, restaurants, the Bigelow Library, and Central Park.
Key Highlights
- Three‑family Victorian home built in 1900
- First- and second‑floor units include large bedrooms, generous kitchens, and washer/dryer hookups
- Third‑floor unit features an updated kitchen, living room, and spacious bedroom
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
$47,609
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
7.62%
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%
$952,180
$952.2K
Cap Rate 7%
$680,129
$680.1K
Cap Rate 9%
$528,989
$529.0K
Market Conditions
NOI Build-Up for 3,522 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
$69.7K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$68.0K $19.31/SF
− OpEx
−$20.4K −$5.79/SF
NOI
$47.6K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$952,180
Cap Rate 7%
$680,129
Cap Rate 9%
$528,989
Alternative Uses
Best Use
Multifamily LT 5
$680.1K
$595.1K – $793.5K
NOI $47,609 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$591.9K
$517.9K – $690.6K
NOI $41,433 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,190 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
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 residential units offer spacious bedrooms, generous kitchens, and washer/dryer hookups in a historic home.
Where is this triplex located?
The property is located at 252 Water St Clinton, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three‑family Victorian home built in 1900; First- and second‑floor units include large bedrooms, generous kitchens, and washer/dryer hookups; Third‑floor unit features an updated kitchen, living room, and spacious bedroom
