Renovated Triplex with Detached
New
For Sale
$649,999
36 Winter Street, Southbridge, MA 01550
Three residential units offer private laundry arrangements, updated interiors, and off-street parking.
Property Size4,134 SF
Price / SF$157.23
Days on Market6
Property Features for 36 Winter Street
General Information
Standard status
Active
Size
4,134 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R2
Net Operating Income
$56,800
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,592
Amenities
in-unit washer/dryer
enclosed porches
Building Details
Building Size
4,134 SF
Year Built
1900
Stories
3
Listing Agency:
Splice Realty
(413) 786-0584
Listed By:
Skerdi Senko · License #452508574
Source:
Insightrealtygroup
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 28 at 6:50AM
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 Splice Realty
Investment Insights
Based on property information with market context.
Located at 36 Winter Street in Southbridge, this 4,134+ SF triplex contains three residential units, each configured with 3 bedrooms and 1 full bath. The property also includes a detached 3-car garage and enclosed rear porches.
Recent work spans the roof, siding, windows, flooring, electrical service, heating equipment, water heaters, plumbing, and lead paint remediation. Electrical improvements include 200-amp wiring, circuit breakers, and updated panels. Unit 1 has laundry in the apartment, while Units 2 and 3 have dedicated washers and dryers in the basement.
The property is near Route 20, I-84, and I-90, with access to downtown Southbridge, shopping, restaurants, schools, parks, medical facilities, and public transportation.
Recent work spans the roof, siding, windows, flooring, electrical service, heating equipment, water heaters, plumbing, and lead paint remediation. Electrical improvements include 200-amp wiring, circuit breakers, and updated panels. Unit 1 has laundry in the apartment, while Units 2 and 3 have dedicated washers and dryers in the basement.
The property is near Route 20, I-84, and I-90, with access to downtown Southbridge, shopping, restaurants, schools, parks, medical facilities, and public transportation.
Key Highlights
- 4,134+ SF triplex with 3 residential units
- Each unit includes 3 bedrooms and 1 full bath
- Detached 3‑car garage plus off‑street parking
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
$55,882
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
8.60%
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%
$1,117,640
$1.1M
Cap Rate 7%
$798,314
$798.3K
Cap Rate 9%
$620,911
$620.9K
Market Conditions
NOI Build-Up for 4,134 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 $19.80/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$79.8K $19.31/SF
− OpEx
−$23.9K −$5.79/SF
NOI
$55.9K $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 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%
$1,117,640
Cap Rate 7%
$798,314
Cap Rate 9%
$620,911
Alternative Uses
Best Use
Multifamily LT 5
$798.3K
$698.5K – $931.4K
NOI $55,882 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$694.7K
$607.9K – $810.5K
NOI $48,632 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,819 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
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 offer private laundry arrangements, updated interiors, and off-street parking.
Where is this triplex located?
The property is located at 36 Winter Street Southbridge, MA.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 4,134+ SF triplex with 3 residential units; Each unit includes 3 bedrooms and 1 full bath; Detached 3‑car garage plus off‑street parking
