Updated Three-Unit
New
For Sale
$749,000
3 Aetna Street, Worcester, MA 01604
Three residential units feature individual utilities, laundry hookups, and recent interior improvements across the first and second floors.
Property Size3,690 SF
Price / SF$202.98
Days on Market5
Property Features for 3 Aetna Street
General Information
Standard status
Active
Size
3,690 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Amenities
laundry hookups
backyard
Building Details
Year Built
1909
Buildings
1
Tenancy
Single
Listing Agency:
Longwood Residential,LLC
Listed By:
Michael Tinsley · License #9506245
(508) 769-2544
Source:
Longwoodresidential
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 5 at 9:04AM
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 Longwood Residential,LLC
Investment Insights
Based on property information with market context.
Located at 3 Aetna Street in Worcester, this 3,690-square-foot triplex was built in 1909 and contains three residential units. Each apartment has three bedrooms, an eat-in kitchen, separate utilities, and laundry hookups. The first- and second-floor units are vacant, with recent work that includes fresh paint, new flooring, updated appliances, and refreshed bathrooms. The third-floor apartment is occupied by a longtime tenant.
Exterior features include a rubber roof, a large driveway with off-street parking, a detached two-car garage, and a small backyard. The garage may offer potential for future ADU use. The property is near Worcester Academy, Polar Park, shopping, restaurants, and major routes, providing access to established local amenities and transportation connections.
Exterior features include a rubber roof, a large driveway with off-street parking, a detached two-car garage, and a small backyard. The garage may offer potential for future ADU use. The property is near Worcester Academy, Polar Park, shopping, restaurants, and major routes, providing access to established local amenities and transportation connections.
Key Highlights
- 3,690‑square‑foot triplex at 3 Aetna Street, Worcester
- Three units with 3 bedrooms, eat‑in kitchens, separate utilities, and laundry hookups
- First- and second‑floor apartments are vacant
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
$54,189
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
7.23%
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%
$1,083,780
$1.1M
Cap Rate 7%
$774,129
$774.1K
Cap Rate 9%
$602,100
$602.1K
Market Conditions
NOI Build-Up for 3,690 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
$81.9K $22.20/SF
− Vacancy
−$4.5K −$1.22/SF
EGI
$77.4K $20.98/SF
− OpEx
−$23.2K −$6.29/SF
NOI
$54.2K $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%
$1,083,780
Cap Rate 7%
$774,129
Cap Rate 9%
$602,100
Alternative Uses
Best Use
Multifamily LT 5
$774.1K
$677.4K – $903.2K
NOI $54,189 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$710.6K
$621.8K – $829.1K
NOI $49,743 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,215 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
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 feature individual utilities, laundry hookups, and recent interior improvements across the first and second floors.
Where is this triplex located?
The property is located at 3 Aetna Street Worcester, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 3,690‑square‑foot triplex at 3 Aetna Street, Worcester; Three units with 3 bedrooms, eat‑in kitchens, separate utilities, and laundry hookups; First- and second‑floor apartments are vacant
