Turnkey Multifamily
For Sale
$419,000
42 Pakachoag St, Auburn, MA 01501
Fully rented multifamily with recent roof, replacement windows, new gas furnace, and new water heater, plus private backyard.
Property Size1,454 SF
Price / SF$288.17
Days on Market36
Property Features for 42 Pakachoag St
General Information
Standard status
Active
Size
1,454 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,171
Listing Agency:
eXp Realty LLC
(617) 459-1029
Listed By:
Janil Stephens
(617) 459-1029
Source:
Exprealty
Added: Jul 22
Changed: Aug 25
Last Checked: Aug 25 at 9:32AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This fully rented multifamily property is positioned for investors seeking market-rate rental income and immediate cash flow. The home offers classic New England character and has been well maintained with key updates, including a newer roof, some replacement windows, a new gas furnace, and a new water heater.
Set on a generous lot, the property includes a private backyard. It is located in Auburn’s Pakachoag Hill neighborhood, with convenient access to shopping, dining, schools, parks, golf, and major commuter routes, including I-90 (Mass Pike), I-290, Route 20, and Route 12. Worcester is described as just minutes away.
An open house is scheduled for Sunday, July 26th, 2026 from 11:30 AM to 12:30 PM. Buyer and agent are responsible for their own due diligence.
Set on a generous lot, the property includes a private backyard. It is located in Auburn’s Pakachoag Hill neighborhood, with convenient access to shopping, dining, schools, parks, golf, and major commuter routes, including I-90 (Mass Pike), I-290, Route 20, and Route 12. Worcester is described as just minutes away.
An open house is scheduled for Sunday, July 26th, 2026 from 11:30 AM to 12:30 PM. Buyer and agent are responsible for their own due diligence.
Key Highlights
- Year built 1928 fully rented multifamily property generating market‑rate rental income
- Recent updates include newer roof, replacement windows, new gas furnace, and new water heater
- Generous lot with a private backyard
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
$17,105
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
4.08%
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%
$342,100
$342.1K
Cap Rate 7%
$244,357
$244.4K
Cap Rate 9%
$190,056
$190.1K
Market Conditions
NOI Build-Up for 1,454 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
$31.9K $21.96/SF
− Vacancy
−$830 −$0.57/SF
EGI
$31.1K $21.39/SF
− OpEx
−$14.0K −$9.63/SF
NOI
$17.1K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$342,100
Cap Rate 7%
$244,357
Cap Rate 9%
$190,056
Alternative Uses
Best Use
Apartment 5plus
$244.4K
$213.8K – $285.1K
NOI $17,105 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.5K
$434.5K – $579.3K
NOI $34,756 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 01501, MA
16,731
Population
7,040
Households
2.4
Avg Household Size
44
Median Age
42%
College-Educated
93%
High-School Grad
15.3 sq mi
ZIP Area
1,094
Density / Sq Mi
$101,929
Median Household Income
$62,296
Median Earnings
$1,241
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully rented multifamily with recent roof, replacement windows, new gas furnace, and new water heater, plus private backyard.
Where is this multifamily property located?
The property is located at 42 Pakachoag St Auburn, MA.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Year built 1928 fully rented multifamily property generating market‑rate rental income; Recent updates include newer roof, replacement windows, new gas furnace, and new water heater; Generous lot with a private backyard
