Three-Unit Triplex With
For Sale
$899,000
49 Beaver Street, Worcester, MA 01603
Three separately metered units offer off-street parking and coin-operated laundry.
Property Size4,348 SF
Lot Size0.15 Acres
Price / SF$206.76
Days on Market14
Property Features for 49 Beaver Street
General Information
Standard status
Active
Size
4,348 SF
Total Parking Spaces
7
Lot size
0.15 Acres
Property subtype
Multi-family
Units
Unit Mix
3 x 4BR/2BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
coin-op laundry
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
Ethan Lazar · License #9582013
(617) 910-1219
Source:
Hgjohnsonrealestate
Added: Sep 14
Changed: Sep 26
Last Checked: Sep 26 at 8:44AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This 1890-built triplex includes three 4-bedroom, 2-bathroom units with 4,348 square feet of gross living area within 6,504 square feet of gross area. The property occupies a 0.15-acre parcel and provides seven off-street parking spaces. Coin-operated laundry is located on site.
Two units are occupied by Clark University students under year-long leases, while the third unit is scheduled for delivery vacant. Separate metering covers gas-powered heat and hot water as well as electricity; the landlord provides city water and sewer. Located at 49 Beaver St in Worcester, the property offers proximity to Clark University and a mix of leased and vacant residential space.
Two units are occupied by Clark University students under year-long leases, while the third unit is scheduled for delivery vacant. Separate metering covers gas-powered heat and hot water as well as electricity; the landlord provides city water and sewer. Located at 49 Beaver St in Worcester, the property offers proximity to Clark University and a mix of leased and vacant residential space.
Key Highlights
- Three 4‑bedroom/2‑bathroom units
- 4,348 square feet of gross living area within 6,504 square feet of gross area
- 0.15‑acre parcel with seven off‑street parking spaces
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
$63,852
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
7.10%
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%
$1,277,040
$1.3M
Cap Rate 7%
$912,171
$912.2K
Cap Rate 9%
$709,467
$709.5K
Market Conditions
NOI Build-Up for 4,348 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
$96.5K $22.20/SF
− Vacancy
−$5.3K −$1.22/SF
EGI
$91.2K $20.98/SF
− OpEx
−$27.4K −$6.29/SF
NOI
$63.9K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /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%
$1,277,040
Cap Rate 7%
$912,171
Cap Rate 9%
$709,467
Alternative Uses
Best Use
Multifamily LT 5
$912.2K
$798.2K – $1.06M
NOI $63,852 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$837.3K
$732.7K – $976.9K
NOI $58,613 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,589 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,228
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units offer off-street parking and coin-operated laundry.
Where is this triplex located?
The property is located at 49 Beaver Street Worcester, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three 4‑bedroom/2‑bathroom units; 4,348 square feet of gross living area within 6,504 square feet of gross area; 0.15‑acre parcel with seven off‑street parking spaces
