Three-Unit Residential Income
45 May Street Worcester, MA 01610
45 May Street, Worcester, MA, 01610
$630,000
For Sale
$630,000
Three-family property with separately metered utilities and nine total bedrooms across all floors.
Property Size3,365 SF
Price / SF$187.22
Days on Market100
Property Features for 45 May Street
General Information
- Standard status
- Active
- Size
- 3,365 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1890
Listing agency
eXp Realty
(888) 854-7493
Listed by
Montivista Real Estate Group
(888) 854-7493
Source
Compass
Added: Apr 15 Updated: Jul 20 at 9:23PM Checked: Jul 22 at 9:09AM
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
Investment Insights
Based on property information with market context.
This three-family residential income property offers a total of nine bedrooms distributed across three levels. The first and second floors feature high ceilings and substantial floor plans, with bedrooms spaced to support privacy. The third-floor attic unit includes an open layout with skylights and a large kitchen.
Separate utilities are metered for the units. Recent improvements include a renovated first-floor bathroom, a 2023 heating system for the second floor, and freshly repaired front steps, along with a newer roof, siding, windows, and boiler.
The property is being offered for sale as a turnkey asset with existing rental income from all three units.
Separate utilities are metered for the units. Recent improvements include a renovated first-floor bathroom, a 2023 heating system for the second floor, and freshly repaired front steps, along with a newer roof, siding, windows, and boiler.
The property is being offered for sale as a turnkey asset with existing rental income from all three units.
Key Highlights
- Three‑family property with 9 total bedrooms and 9 bathrooms across all floors
- Separately metered utilities for each unit
- Interior features include skylights, full/unfinished basement, pantry, mudroom, office/den, and window AC
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.7k | $22.20 |
| − Vacancy | −$4.1k | −$1.22 |
| EGI | $70.6k | $20.98 |
| − OpEx | −$21.2k | −$6.29 |
| NOI | $49.4k | $14.69 |
3,365 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$705.9K
$617.7K – $823.6K
NOI $49,416 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$648.0K
$567.0K – $756.0K
NOI $45,362 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.12M
$982.8K – $1.31M
NOI $78,621 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family property with separately metered utilities and nine total bedrooms across all floors.
Where is this triplex located?
The property is located at 45 May Street Worcester, MA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Three‑family property with 9 total bedrooms and 9 bathrooms across all floors; Separately metered utilities for each unit; Interior features include skylights, full/unfinished basement, pantry, mudroom, office/den, and window AC
