6-Bedroom Multifamily
For Sale
$579,900
3 Knight Street, Worcester, MA 01605
Three-level layout, a covered front porch, and off-street parking support residential use with rental potential.
Property Size2,926 SF
Price / SF$198.19
Days on Market12
Property Features for 3 Knight Street
General Information
Standard status
Active
Size
2,926 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Amenities
front porch
Building Details
Year Built
1903
Stories
3
Listing Agency:
Castinetti Realty Group
Listed By:
Dawn Szczygiel
(508) 330-7344
Source:
Cambridgerealty
Added: Oct 6
Changed: Oct 16
Last Checked: Oct 16 at 8:35AM
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 Castinetti Realty Group
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Investment Insights
Based on property information with market context.
Built in 1903, this 2,926-square-foot multifamily residence has six bedrooms and three full bathrooms across three floors. The property also features a large front porch, off-street parking, and a deleading certificate.
The home is on a quiet side street near bus service, with hospitals, businesses, shopping, entertainment, highways, and public transportation in the surrounding area.
The home is on a quiet side street near bus service, with hospitals, businesses, shopping, entertainment, highways, and public transportation in the surrounding area.
Key Highlights
- Six bedrooms and three full bathrooms across three floors
- 2,926 square feet; built in 1903
- Deleading certificate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,444
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,880
$788.9K
Cap Rate 7%
$563,486
$563.5K
Cap Rate 9%
$438,267
$438.3K
Market Conditions
NOI Build-Up for 2,926 SF
Gross rent
$75.5K $25.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$71.7K $24.51/SF
− OpEx
−$32.3K −$11.03/SF
NOI
$39.4K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,880
Cap Rate 7%
$563,486
Cap Rate 9%
$438,267
Alternative Uses
Best Use
Apartment 5plus
$563.5K
$493.1K – $657.4K
NOI $39,444 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$976.6K
$854.6K – $1.14M
NOI $68,364 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Three-level layout, a covered front porch, and off-street parking support residential use with rental potential.
Where is this multifamily property located?
The property is located at 3 Knight Street Worcester, MA.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Six bedrooms and three full bathrooms across three floors; 2,926 square feet; built in 1903; Deleading certificate
