Building Details

Buildings 1

Tenancy Multi

Listing Agency: Century 21 Custom Home Realty Show Phone

Listed By: Paula Sullivan Show Phone

Source: Exprealty

Added: Oct 21 Changed: Oct 27 Last Checked: Oct 28 at 9:33AM

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Investment Insights

Based on property information with market context.

This 2,080-square-foot residential triplex contains three apartments: two with 2 bedrooms each and one with 1 bedroom. All units are occupied by tenants at will who would like to stay. Recent work includes roof replacement with wood repairs and installation of a newer oil tank. The property has town water and sewer, plus off-street parking.

Outdoor features include a large deck, a fire pit area, and a spacious backyard. Town Hall and Roosevelt Park are nearby, while the bike path and Main Street restaurants, shops, and coffee spots are within walking distance.

Key Highlights

• Three apartments with a 2‑bedroom, 2‑bedroom, and 1‑bedroom mix
• 2,080 square feet
• All units occupied by tenants at will who would like to remain

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,117

Cap Rate

5.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$562,340 $562.3K

Cap Rate 7%

$401,671 $401.7K

Cap Rate 9%

$312,411 $312.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,080 SF

Gross rent

$41.2K $19.80/SF

− Vacancy

−$1.0K −$0.49/SF

EGI

$40.2K $19.31/SF

− OpEx

−$12.1K −$5.79/SF

NOI

$28.1K $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%

$562,340

Cap Rate 7%

$401,671

Cap Rate 9%

$312,411

Alternative Uses

Best Use

Multifamily LT 5

$401.7K

$351.5K – $468.6K (±1% cap)

NOI $28,117 @ 7.0% cap · market cap 5.11%

Second Best

Apartment 5plus

$349.6K

$305.9K – $407.8K (±1% cap)

NOI $24,469 @ 7.0% cap · market cap 4.45%

Theoretical Best

Office A

$710.3K

$621.5K – $828.7K (±1% cap)

NOI $49,720 @ 7.0% cap · market cap 9.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

243

Businesses Nearby

Explore this area Business Placement

Demographics for 01504, MA

9,208

Population

4,079

Households

2.3

Avg Household Size

43

Median Age

35%

College-Educated

96%

High-School Grad

11.1 sq mi

ZIP Area

830

Density / Sq Mi

$98,986

Median Household Income

$61,973

Median Earnings

$1,157

Median Rent

$394,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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$1,950,000

28,780 SF

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Updated Residential Income Property

66 Main St, Blackstone, MA 01504

$345,000

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Frequently Asked Questions

What type of property is this?

Triplex - Three apartments offer a 2-bedroom, 2-bedroom, and 1-bedroom configuration with tenants currently in place.

Where is this triplex located?

The property is located at 31 Saint Paul St Blackstone, MA.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Three apartments with a 2‑bedroom, 2‑bedroom, and 1‑bedroom mix; 2,080 square feet; All units occupied by tenants at will who would like to remain