Triplex with Hardwood
For Sale
$569,000
29 Cambridge St, Worcester, MA 01603
Fully occupied triplex with three-bedroom layouts, replacement windows, and lead certificates covering every unit.
Property Size2,746 SF
Price / SF$207.21
Days on Market135
Property Features for 29 Cambridge St
General Information
Standard status
Active
Size
2,746 SF
Property subtype
Multi-Family
Zoning
RG-5
Occupancy
100%
Net Operating Income
$43,991
Property Condition
Severity
Repairs Needed
Evidence
needs cosmetic updates
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,264
Building Details
Building Size
2,746 SF
Year Built
1900
Stories
3
Listing Agency:
Coldwell Banker Realty - Brookline
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 18
Changed: Aug 29
Last Checked: Aug 29 at 1:48PM
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 Coldwell Banker Realty - Brookline
Investment Insights
Based on property information with market context.
This fully occupied triplex contains three residential units, each arranged with six rooms and three bedrooms. Hardwood flooring and replacement windows are installed throughout the units, while lead certificates are in place for all three apartments. The property measures 2746 square feet and was built in 1900. It is zoned RG-5.
Recent property work includes a newer roof, oil tanks installed in 2025, and updated hot water tanks. A new furnace has been scheduled for installation before closing. The units are occupied by long-term tenants-at-will, and the property requires cosmetic updates. The location offers proximity to highways, public transportation, shopping, restaurants, and colleges.
Recent property work includes a newer roof, oil tanks installed in 2025, and updated hot water tanks. A new furnace has been scheduled for installation before closing. The units are occupied by long-term tenants-at-will, and the property requires cosmetic updates. The location offers proximity to highways, public transportation, shopping, restaurants, and colleges.
Key Highlights
- Three‑unit multifamily property with 2746 square feet
- Each unit includes 6 rooms and 3 bedrooms
- Hardwood floors and replacement windows in every unit
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
$40,326
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
7.09%
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%
$806,520
$806.5K
Cap Rate 7%
$576,086
$576.1K
Cap Rate 9%
$448,067
$448.1K
Market Conditions
NOI Build-Up for 2,746 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
$61.0K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$57.6K $20.98/SF
− OpEx
−$17.3K −$6.29/SF
NOI
$40.3K $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 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%
$806,520
Cap Rate 7%
$576,086
Cap Rate 9%
$448,067
Alternative Uses
Best Use
Multifamily LT 5
$576.1K
$504.1K – $672.1K
NOI $40,326 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$528.8K
$462.7K – $617.0K
NOI $37,017 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$916.6K
$802.0K – $1.07M
NOI $64,159 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
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 - Fully occupied triplex with three-bedroom layouts, replacement windows, and lead certificates covering every unit.
Where is this triplex located?
The property is located at 29 Cambridge St Worcester, MA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2746 square feet; Each unit includes 6 rooms and 3 bedrooms; Hardwood floors and replacement windows in every unit
