Updated Triplex with Detached
For Sale
$789,000
49 Granite St, Worcester, MA 01604
Fully occupied three-family property with updated systems, tenant parking, and a detached garage.
Property Size3,750 SF
Price / SF$210.40
Days on Market114
Property Features for 49 Granite St
General Information
Standard status
Active
Size
3,750 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
RG-5
Occupancy
100%
Net Operating Income
$72,000
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,237
Building Details
Building Size
3,750 SF
Year Built
1900
Stories
3
Listing Agency:
The American Dream Real Estate
(617) 290-6783
Listed By:
Musa Muzaaya
(617) 685-9534
Source:
Churchillprop
Added: Jun 24
Changed: Oct 6
Last Checked: Oct 14 at 9:30PM
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 The American Dream Real Estate
Investment Insights
Based on property information with market context.
This 3,750-square-foot triplex contains three residential units and was built in 1900. The property is fully occupied by paying tenants and includes flexible front rooms in each unit that can serve as bedrooms, offices, or additional living areas. Improvements include modernized electrical systems, newer water heaters, central air on the first floor, and gas parlor heaters on the second and third floors.
The property provides six off-street parking spaces and a detached two-car garage currently used by the owner for storage. Zoned RG-5, the building is near local amenities and commuter routes. Current rents are below market value, and the property offers potential for owner occupancy.
The property provides six off-street parking spaces and a detached two-car garage currently used by the owner for storage. Zoned RG-5, the building is near local amenities and commuter routes. Current rents are below market value, and the property offers potential for owner occupancy.
Key Highlights
- Three‑unit residential property totaling 3,750 SF
- Fully occupied by paying tenants
- Six off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,070
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,400
$1.1M
Cap Rate 7%
$786,714
$786.7K
Cap Rate 9%
$611,889
$611.9K
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$83.3K $22.20/SF
− Vacancy
−$4.6K −$1.22/SF
EGI
$78.7K $20.98/SF
− OpEx
−$23.6K −$6.29/SF
NOI
$55.1K $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 Rate 5%
$1,101,400
Cap Rate 7%
$786,714
Cap Rate 9%
$611,889
Alternative Uses
Best Use
Multifamily LT 5
$786.7K
$688.4K – $917.8K
NOI $55,070 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$722.2K
$631.9K – $842.5K
NOI $50,552 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,617 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
Check the figures for this property
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 - Fully occupied three-family property with updated systems, tenant parking, and a detached garage.
Where is this triplex located?
The property is located at 49 Granite St Worcester, MA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Three‑unit residential property totaling 3,750 SF; Fully occupied by paying tenants; Six off‑street parking spaces
