Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Worcester Multifamily with Four-Car Garage Title is generated by Realmo AI

    54 Freeland St, Worcester, MA 01603

    View on Map
    Claim this Listing
    New
    For Sale
    $629,900

    MULTI_FAMILY - Worcester, MA

    Property size:
    3,768 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $167/SF
    Added:
    May 29, 2026
    Days on Market:
    1
    Last Refresh:
    May 29 at 2:06 pm

    Property Features for 54 Freeland St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RG-5
    Bedrooms
    9
    Bathrooms
    3
    Rooms
    Bedroom 8, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 9
    Parking
    12
    Fireplace
    1
    Standard status
    Active
    APN
    M:08 B:035 L:00036,1770245
    Size
    3,768 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    9398

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    3

    We can help!

    Listing Contact
    Sarah Gustafson

    Listing agent Sarah Gustafson

    Listing office Keller Williams Pinnacle Central 67 Millbrook Street, Suite 422, Worcester, MA

    Listing date May 29, 2026

    MLS# 73526583 Listing URL

    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.

    HighLights

    • Rare 4‑car garage offering income potential.
    • 9 bedrooms and 3 full baths suitable for rental income or multi‑generational living.
    • Large 6,623 SF lot in the Clark University neighborhood.
    • Walking distance to Clark University, University Park Campus School, dining, and transit.
    • Eligible residents may qualify for Clark's University Park Partnership tuition scholarship.
    • Features a fireplace.

    Overview

    Located in the Clark University neighborhood, this multifamily property offers income potential with 9 bedrooms and 3 full baths. The property is situated on a 6,623 square foot lot and features a standout four-car garage, providing premium off-street parking. The building size is 3,768 square feet. Its location allows for walking distance to Clark University, University Park Campus School, dining options, and public transportation. Eligible long-term residents may qualify for Clark's University Park Partnership tuition scholarship, subject to residency and admission requirements. The property is zoned RG-5 and presents opportunities for strong rental income or multi-generational living.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $83.6k $22.20
    − Vacancy −$4.6k −$1.22
    EGI $79.0k $20.98
    − OpEx −$23.7k −$6.29
    NOI $55.3k $14.69
    3,768 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $790.5K
    $691.7K – $922.2K (±1% cap)
    NOI $55,334 @ 7.0% cap · market cap 8.78%
    Second Best
    Apartment 5plus
    $725.6K
    $634.9K – $846.6K (±1% cap)
    NOI $50,795 @ 7.0% cap · market cap 8.06%
    Theoretical Best
    Office A
    $1.26M
    $1.10M – $1.47M (±1% cap)
    NOI $88,037 @ 7.0% cap · market cap 13.98%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.824983
    Latitude
    42.244283

    Nearby Similar for Sale

    • $679,900
      2,707 SF

      Worcester Triplex with Recent Updates

      Three-unit residential income property in Worcester, move-in ready condition.
      16 Doane Street, Worcester, MA 01607
      View Details
    • $825,000
      4,296 SF

      Updated Triplex in Worcester, MA

      Spacious, updated triplex with in-unit laundry and hardwood floors.
      25 Almont Ave, Worcester, MA 01604
      View Details
    • $699,900
      3,420 SF

      Worcester Multi-Family Near Universities

      Multi-family property near Clark and Worcester State Universities.
      71 Maywood St, Worcester, MA 01603
      View Details
    • $999,000
      4,870 SF

      Renovated Three-Family in Worcester

      Three renovated units near I-290, shops, and Green Hill Park.
      139 Lincoln St, Worcester, MA 01605
      View Details
    • $799,000
      4,050 SF

      Three-Family Home with Modern Upgrades

      Turn-key three-family home with modern upgrades and low-maintenance exterior.
      44 Coral, Worcester, MA 01604
      View Details
    • $750,000
      2,694 SF

      Income-Producing Rooming House Near WPI

      Turnkey investment property near WPI with immediate income potential.
      60 Fruit Street, Worcester, MA 01609
      View Details
    • $685,000
      2,559 SF

      Worcester Multi-Family Investment Opportunity

      Three-unit property near local services and highways in Worcester, MA.
      130 Kenberma Road, Worcester, MA 01604
      View Details
    • $775,000
      3,360 SF

      Redevelopment Opportunity in Worcester, MA

      3,360 SF former fast-food building with redevelopment potential.
      342 West Boylston St, Worcester, MA 01606
      View Details
    • $695,000
      3,577 SF

      Renovated Office Building For Sale

      3,577 SF renovated office building in Worcester, MA.
      105 Merrick Street, Worcester, MA 01609
      View Details
    • $795,000
      3,900 SF

      Worcester Commercial Building For Sale

      3,900 SF building in prime Worcester location.
      76 Mill St, Worcester, MA 01603
      View Details
    • $949,000

      Two Commercial Buildings Package Deal

      Two stand-alone commercial buildings in a desirable, affluent area.
      118 & 120 West Boylston St, Worcester, MA 01606
      View Details
    • $525,000

      Stand-Alone Commercial Building For Sale

      Well-maintained commercial building in desirable area, suitable for various businesses.
      120 West Boylston St, Worcester, MA 01606
      View Details

    FAQs

    What type of property is this?
    Triplex - Income-generating multifamily property near Clark University with a rare four-car garage.
    Where is this triplex located?
    The property is located at 54 Freeland St Worcester, MA.
    What is the asking price?
    The asking price for this property is $629,900.
    What are key features of this property?
    This property features: Rare **4‑car garage** offering income potential.; 9 bedrooms and 3 full baths suitable for rental income or multi‑generational living.; Large 6,623 SF lot in the Clark University neighborhood.
    (508) 754-3020
    We can help!
    Listing Contact
    Sarah Gustafson
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    54 Freeland St, Worcester, MA 01603
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!