Well-Maintained Three-Family
For Sale
$399,900
Pending
52 Church St, Spencer, MA 01562
Three-family property with in-unit laundry and separate utilities.
Property Size2,271 SF
Days on Market154
Property Features for 52 Church St
General Information
Standard status
Pending
Size
2,271 SF
Property subtype
3 Family
Building Details
Building Size
2,271 SF
Year Built
1939
Listing Agency:
Keller Williams Realty Evolution
(781) 395-5600
Listed By:
Vincent Kaba
(781) 727-9111
Source:
Iverty
Added: Apr 16
Changed: Sep 15
Last Checked: Sep 15 at 7:39AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This well-maintained three-family property presents an opportunity for investment or owner occupancy. The property features a layout with two up-and-down units. One unit includes two bedrooms and one bathroom, while the other offers one bedroom and one bathroom. Additionally, there is a side-attached unit with two bedrooms and one bathroom, suitable for owner occupancy or rental income. All units are equipped with in-unit laundry facilities and have separate electric and gas meters. The kitchens and bedrooms are well-sized and offer a functional layout. The property provides ample parking and is situated in a convenient location. The walk score is 75, indicating that the area is very walkable. The bike score is 31, indicating that the area is somewhat bikeable.
Key Highlights
- Three separate units offer excellent investment/owner‑occupied potential.
- All units feature in‑unit laundry for convenience.
- Each unit has separate electric and gas meters.
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
$26,716
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
6.68%
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%
$534,320
$534.3K
Cap Rate 7%
$381,657
$381.7K
Cap Rate 9%
$296,844
$296.8K
Market Conditions
NOI Build-Up for 2,271 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
$49.9K $21.96/SF
− Vacancy
−$1.3K −$0.57/SF
EGI
$48.6K $21.39/SF
− OpEx
−$21.9K −$9.63/SF
NOI
$26.7K $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%
$534,320
Cap Rate 7%
$381,657
Cap Rate 9%
$296,844
Alternative Uses
Best Use
Apartment 5plus
$381.7K
$334.0K – $445.3K
NOI $26,716 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$775.5K
$678.6K – $904.8K
NOI $54,286 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 01562, MA
11,992
Population
5,788
Households
2.1
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
32.9 sq mi
ZIP Area
364
Density / Sq Mi
$79,086
Median Household Income
$49,131
Median Earnings
$1,085
Median Rent
$368,300
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?
Multifamily property - Three-family property with in-unit laundry and separate utilities.
Where is this multifamily property located?
The property is located at 52 Church St Spencer, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three separate units offer excellent investment/owner‑occupied potential.; All units feature in‑unit laundry for convenience.; Each unit has separate electric and gas meters.
