Renovated Triplex with Vacant
For Sale
$699,999
58 Laurel St, Worcester, MA 01605
Three-unit property with one residence currently vacant and located near transit, retail, parks, and major routes.
Property Size3,091 SF
Price / SF$226.46
Days on Market25
Property Features for 58 Laurel St
General Information
Standard status
Active
Size
3,091 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,770
Listing Agency:
eXp Realty LLC - Corporate Office
(978) 364-2569
Listed By:
Above and Beyond Team
(978) 364-2569
Source:
Exprealty
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 29 at 11:08PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
Located at 58 Laurel St in Worcester, this 3,091-square-foot triplex contains three renovated residential units. One unit is vacant, providing flexibility for an owner-occupant or future customization. The property combines updated interiors with a three-unit configuration suited to residential income use.
The property is positioned near public transit, shops, parks, and major routes. Its Worcester location and existing three-unit layout provide a straightforward multifamily ownership profile, while the vacant unit offers the next owner control over its intended use. Buyers and their agents should independently verify all property information and complete their own due diligence.
The property is positioned near public transit, shops, parks, and major routes. Its Worcester location and existing three-unit layout provide a straightforward multifamily ownership profile, while the vacant unit offers the next owner control over its intended use. Buyers and their agents should independently verify all property information and complete their own due diligence.
Key Highlights
- Three renovated residential units
- One unit currently vacant
- 3,091 square feet of property size
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
$45,392
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
6.48%
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%
$907,840
$907.8K
Cap Rate 7%
$648,457
$648.5K
Cap Rate 9%
$504,356
$504.4K
Market Conditions
NOI Build-Up for 3,091 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
$68.6K $22.20/SF
− Vacancy
−$3.8K −$1.22/SF
EGI
$64.8K $20.98/SF
− OpEx
−$19.5K −$6.29/SF
NOI
$45.4K $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 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%
$907,840
Cap Rate 7%
$648,457
Cap Rate 9%
$504,356
Alternative Uses
Best Use
Multifamily LT 5
$648.5K
$567.4K – $756.5K
NOI $45,392 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$595.3K
$520.9K – $694.5K
NOI $41,668 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.03M
$902.8K – $1.20M
NOI $72,220 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,905
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
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 property with one residence currently vacant and located near transit, retail, parks, and major routes.
Where is this triplex located?
The property is located at 58 Laurel St Worcester, MA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Three renovated residential units; One unit currently vacant; 3,091 square feet of property size
