Fully Renovated
For Sale
$949,900
576 Franklin St, Worcester, MA 01608
MULTI_FAMILY - Worcester, MA
Property Size3,402 SF
Lot Size0.25 Acres
Price / SF$279.22
Days on Market52
Property Features for 576 Franklin St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
BL-1
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 9, Bedroom 7
Parking
9
Directions
Plantation Street to Franklin
Standard status
Active
APN
M:19 B:010 L:00003,1781476
Size
3,402 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9836
Amenities
city views
high ceilings
hardwood floors
granite countertops
stainless steel appliances
Nest thermostats
in-unit washer/dryers
tiled baths
basement storage
shed
backyard
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Listing Agency:
REMAX Executive Realty · RE/MAX International
(508) 839-9219
Listed By:
Bill Wright · License #5503
(508) 839-9219
Added: Jun 12
Changed: Aug 2
Last Checked: Aug 2 at 11:06PM
MLS# 73535467
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 fully renovated three-family triplex was rebuilt from the studs in 2018. The property offers three spacious apartments, each with six rooms, three bedrooms, and one full bath, along with high ceilings, hardwood floors, generous living and dining areas, ample closet space, and eat-in kitchens with white cabinetry and granite countertops. Updates also include tiled baths, Nest thermostats, and full-size in-unit stackable washer/dryers. Major 2018 improvements included windows, electrical, super-efficient heating systems, and hot water tanks.
The home sits on an approximately 0.2537-acre lot with an extra-large driveway and a paved driveway providing 9 off-street parking spaces. A shingled roof was installed in 2023. Additional conveniences include basement storage, a shed, and a backyard area for cookouts, plus front-yard city views.
The property is zoned BL-1 and includes a total property size of 3,402 square feet, originally built in 1910. The extra-large lot may allow for additional income through a single-family home or ADU, subject to buyer due diligence.
The home sits on an approximately 0.2537-acre lot with an extra-large driveway and a paved driveway providing 9 off-street parking spaces. A shingled roof was installed in 2023. Additional conveniences include basement storage, a shed, and a backyard area for cookouts, plus front-yard city views.
The property is zoned BL-1 and includes a total property size of 3,402 square feet, originally built in 1910. The extra-large lot may allow for additional income through a single-family home or ADU, subject to buyer due diligence.
Key Highlights
- Triplex rebuilt from the studs in 2018
- Three units with six rooms, three bedrooms, and one full bath each
- In‑unit stackable washer/dryers plus Nest thermostats
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 | $75.5k | $22.20 |
| − Vacancy | −$4.2k | −$1.22 |
| EGI | $71.4k | $20.98 |
| − OpEx | −$21.4k | −$6.29 |
| NOI | $50.0k | $14.69 |
3,402 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$713.7K
$624.5K – $832.7K
NOI $49,959 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$655.2K
$573.3K – $764.4K
NOI $45,861 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$1.14M
$993.6K – $1.32M
NOI $79,486 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 01608, MA
4,996
Population
2,565
Households
1.9
Avg Household Size
28
Median Age
29%
College-Educated
74%
High-School Grad
0.5 sq mi
ZIP Area
9,992
Density / Sq Mi
$45,962
Median Household Income
$36,596
Median Earnings
$1,461
Median Rent
$117,100
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 - Three-unit triplex fully rebuilt in 2018 with updated systems, in-unit laundry, and a 2023 shingled roof.
Where is this triplex located?
The property is located at 576 Franklin St Worcester, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Triplex rebuilt from the studs in 2018; Three units with six rooms, three bedrooms, and one full bath each; In‑unit stackable washer/dryers plus Nest thermostats
