Three-Family Residential Income
For Sale
$589,900
42 Maple, Spencer, MA 01562
Recently renovated three-family home with updated electrical and plumbing, three full bathrooms, and parking for 3+ cars.
Property Size3,662 SF
Lot Size0.08 Acres
Price / SF$161.09
Days on Market167
Property Features for 42 Maple
General Information
Standard status
Active
Size
3,662 SF
Lot size
0.08 Acres
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Amenities
deck
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Toner Real Estate,LLC
Listed By:
Melissa Jeffery
(617) 846-8000
Source:
Highlandre
Added: Mar 23
Changed: Sep 4
Last Checked: Sep 5 at 9:05AM
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 Toner Real Estate,LLC
Investment Insights
Based on property information with market context.
This recently renovated three-family dwelling features updated electrical and plumbing and is configured to provide three full bathrooms and six bedrooms across the units. The third-floor unit includes a walk-up attic with two additional rooms that are waiting to be finished, offering flexibility for future improvements. The home’s kitchen has been updated with new cabinetry, updated countertops, and a tasteful backsplash. A deck extends the living space outdoors, and the property provides parking for 3+ cars.
The property is located across from Muzzy Meadow Pond and is described as being conveniently close to shopping, restaurants, and schools, with walking distance to downtown. The public remarks also note proximity to major nearby employment centers, including about 20 minutes to Worcester and about 40 minutes to Springfield.
Originally constructed in 1900, the home totals 3,662 square feet and sits on a 3,657 square foot lot, according to the provided information.
The property is located across from Muzzy Meadow Pond and is described as being conveniently close to shopping, restaurants, and schools, with walking distance to downtown. The public remarks also note proximity to major nearby employment centers, including about 20 minutes to Worcester and about 40 minutes to Springfield.
Originally constructed in 1900, the home totals 3,662 square feet and sits on a 3,657 square foot lot, according to the provided information.
Key Highlights
- Recently renovated three‑family home with updated electrical and plumbing
- 3 full bathrooms and 6 bedrooms total, with third‑floor unit plus walkup attic
- Third‑floor walkup attic includes two extra rooms waiting to be finished
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
$49,502
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
8.39%
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%
$990,040
$990.0K
Cap Rate 7%
$707,171
$707.2K
Cap Rate 9%
$550,022
$550.0K
Market Conditions
NOI Build-Up for 3,662 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
$72.5K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$70.7K $19.31/SF
− OpEx
−$21.2K −$5.79/SF
NOI
$49.5K $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%
$990,040
Cap Rate 7%
$707,171
Cap Rate 9%
$550,022
Alternative Uses
Best Use
Multifamily LT 5
$707.2K
$618.8K – $825.0K
NOI $49,502 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$615.4K
$538.5K – $718.0K
NOI $43,080 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,536 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 01562, MA
11,992
Population
5,788
Households
2.1
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
32.9 sq mi
ZIP Area
364
Density / Sq Mi
$79,086
Median Household Income
$49,131
Median Earnings
$1,085
Median Rent
$368,300
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 - Recently renovated three-family home with updated electrical and plumbing, three full bathrooms, and parking for 3+ cars.
Where is this triplex located?
The property is located at 42 Maple Spencer, MA.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Recently renovated three‑family home with updated electrical and plumbing; 3 full bathrooms and 6 bedrooms total, with third‑floor unit plus walkup attic; Third‑floor walkup attic includes two extra rooms waiting to be finished
