Three-Family Triplex With In-Unit
For Sale
$399,900
Pending
52 Church St, Spencer, MA 01562
MULTI_FAMILY - Spencer, MA
Property Size2,271 SF
Lot Size0.10 Acres
Days on Market119
Property Features for 52 Church St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VR
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5
Parking
5
Directions
GPS
Standard status
Pending
APN
1692842
Size
2,271 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3368
Amenities
in-unit laundry
Building Details
Year built
1939
Floors in Building
5
Number of units
3
Listing Agency:
Keller Williams Realty Evolution
(781) 395-5600
Listed By:
Keller Williams Realty Evolution
Added: Apr 16
Changed: Aug 3
Last Checked: Aug 12 at 9:06AM
MLS# 73502786
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.
Well-maintained three-family triplex built in 1939, offering a practical owner-occupant or investor setup. The layout includes two up-and-down units, one with two bedrooms and one bathroom and the other with one bedroom and one bathroom. A side-attached third unit adds two bedrooms and one bathroom.
All units include in-unit laundry, and each unit has separate electric and gas meters. The property also provides plenty of parking. Set on a 0.1001-acre lot with 2,271 square feet of property size, the home is positioned at 52 Church St in Spencer, Massachusetts.
The bedroom and kitchen layouts are described as well sized with a good flow, supporting straightforward everyday living across all three units.
All units include in-unit laundry, and each unit has separate electric and gas meters. The property also provides plenty of parking. Set on a 0.1001-acre lot with 2,271 square feet of property size, the home is positioned at 52 Church St in Spencer, Massachusetts.
The bedroom and kitchen layouts are described as well sized with a good flow, supporting straightforward everyday living across all three units.
Key Highlights
- 0.1001‑acre lot with 2,271 SF triplex
- Built in 1939
- Two up‑and‑down units: one 2 bed/1 bath and one 1 bed/1 bath
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
$30,699
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
7.68%
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%
$613,980
$614.0K
Cap Rate 7%
$438,557
$438.6K
Cap Rate 9%
$341,100
$341.1K
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
$45.0K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$43.9K $19.31/SF
− OpEx
−$13.2K −$5.79/SF
NOI
$30.7K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$613,980
Cap Rate 7%
$438,557
Cap Rate 9%
$341,100
Alternative Uses
Best Use
Multifamily LT 5
$438.6K
$383.7K – $511.7K
NOI $30,699 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$381.7K
$334.0K – $445.3K
NOI $26,716 @ 7.0% cap · market cap 6.68%
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-family with in-unit laundry and separate electric and gas meters for each unit.
Where is this triplex 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: 0.1001‑acre lot with 2,271 SF triplex; Built in 1939; Two up‑and‑down units: one 2 bed/1 bath and one 1 bed/1 bath
