Three-Family with Single-Family
For Sale
$800,000
Pending
49 Richland St And 10 Dorchester, Worcester, MA 01610
Residential Income, Worcester, MA
Property Size4,940 SF
Lot Size0.10 Acres
Days on Market325
Property Features for 49 Richland St And 10 Dorchester
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
13
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 9, Bathroom 2, Bedroom 10, Bedroom 6, Bedroom 12, Bedroom 13, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 7, Bedroom 4, Bedroom 11, Bathroom 1, Bedroom 3, Bedroom 8
Directions
Vernon St. to Richland St. or Verson Street to Dorchester Street
Standard status
Pending
APN
M:05 B:019 L:00009
Size
4,940 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7567
Building Details
Year built
1890
Floors in Building
6
Number of units
4
Listing Agency:
Keller Williams Pinnacle Central · Keller Williams Realty
(508) 754-3020
Listed By:
Sarah Gustafson
(508) 754-3020
Added: Sep 30, 2025
Changed: Aug 19
Last Checked: Aug 20 at 9:06PM
MLS# 73437153
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering includes an expansive three-family property and a single-family home sold together. The single-family home contains 4 bedrooms and 1 full bath. Each unit in the triple decker includes 3 bedrooms and 1 full bath. All units feature separate laundry rooms and storage space, and many interior updates have been completed.
The properties are located in Worcester, MA at 49 Richland St and 10 Dorchester, within zoning designated RG-5.
Overall, the configuration provides a total of four residential units across the two structures, combining multiple 1-bath layouts with shared emphasis on practical, in-unit laundry and dedicated storage for each unit.
The properties are located in Worcester, MA at 49 Richland St and 10 Dorchester, within zoning designated RG-5.
Overall, the configuration provides a total of four residential units across the two structures, combining multiple 1-bath layouts with shared emphasis on practical, in-unit laundry and dedicated storage for each unit.
Key Highlights
- Built in 1890: expansive three‑family plus single‑family home being sold together.
- Single‑family portion offers 4 bedrooms and 1 full bathroom.
- Each unit in the triple decker offers 3 bedrooms and 1 full bathroom.
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
$72,545
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
9.07%
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%
$1,450,900
$1.5M
Cap Rate 7%
$1,036,357
$1.0M
Cap Rate 9%
$806,056
$806.1K
Market Conditions
NOI Build-Up for 4,940 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
$109.7K $22.20/SF
− Vacancy
−$6.0K −$1.22/SF
EGI
$103.6K $20.98/SF
− OpEx
−$31.1K −$6.29/SF
NOI
$72.5K $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%
$1,450,900
Cap Rate 7%
$1,036,357
Cap Rate 9%
$806,056
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$906.8K – $1.21M
NOI $72,545 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$951.3K
$832.4K – $1.11M
NOI $66,594 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,421 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
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 - A three-family triple decker plus a separate single-family home, with updated interiors and in-unit laundry and storage.
Where is this triplex located?
The property is located at 49 Richland St And 10 Dorchester Worcester, MA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Built in 1890: expansive three‑family plus single‑family home being sold together.; Single‑family portion offers 4 bedrooms and 1 full bathroom.; Each unit in the triple decker offers 3 bedrooms and 1 full bathroom.
