4-Unit Multifamily
261 Main St, Rutland, MA 01543
For Sale
New
$587,000
Residential Income, Rutland, MA
Property Size3,445 SF
Lot Size0.28 Acres
Price / SF$170.39
Days on Market2
Property Features for 261 Main St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Keller Williams Pinnacle Central · Keller Williams Realty
Listed By:
Sarah Gustafson
(508) 754-3020
Added: Nov 9
Changed: Nov 10
Last Checked: Nov 10 at 8:06PM
MLS# 73600207
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.
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Investment Insights
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This four-unit multifamily property contains 3,445 square feet across three two-bedroom apartments and one three-bedroom apartment. The building has 5 full bathrooms and 1 half bath, oil heat, and separately metered electric service. It was built in 1812 and sits on a 0.28-acre lot with off-street parking. The property is offered in as-is condition. Two units are vacant; the other two are occupied under tenant-at-will arrangements.
Located across from Town Hall and the Public Library in Rutland, the property is zoned L47. The existing unit mix and separate electric meters are among its documented physical and operating details.
Located across from Town Hall and the Public Library in Rutland, the property is zoned L47. The existing unit mix and separate electric meters are among its documented physical and operating details.
Key Highlights
- Four apartments: three two‑bedroom units and one three‑bedroom unit
- 3,445 square feet in a building constructed in 1812
- 5 full bathrooms and 1 half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,568
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,360
$931.4K
Cap Rate 7%
$665,257
$665.3K
Cap Rate 9%
$517,422
$517.4K
Market Conditions
NOI Build-Up for 3,445 SF
Gross rent
$68.2K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$66.5K $19.31/SF
− OpEx
−$20.0K −$5.79/SF
NOI
$46.6K $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 Rate 5%
$931,360
Cap Rate 7%
$665,257
Cap Rate 9%
$517,422
Alternative Uses
Best Use
Multifamily LT 5
$665.3K
$582.1K – $776.1K
NOI $46,568 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$579.0K
$506.6K – $675.5K
NOI $40,527 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,349 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
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Business Placement
Demographics for 01543, MA
9,049
Population
3,257
Households
2.8
Avg Household Size
40
Median Age
42%
College-Educated
98%
High-School Grad
35.1 sq mi
ZIP Area
258
Density / Sq Mi
$155,504
Median Household Income
$67,971
Median Earnings
$998
Median Rent
$439,200
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Worcester County, MA
Properties on Market for Quadplexes in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The apartment mix includes three two-bedroom homes and one three-bedroom home, with separate electric meters.
Where is this quadplex located?
The property is located at 261 Main St Rutland, MA.
What is the asking price?
The asking price for this property is $587,000.
What are key features of this property?
This property features: Four apartments: three two‑bedroom units and one three‑bedroom unit; 3,445 square feet in a building constructed in 1812; 5 full bathrooms and 1 half bath
