Four-Unit Residential Income
6 Buffum Street Worcester, MA 01603
For Sale
$889,900
Four-unit property with updated plumbing and electrical, multiple private entries, and parking for at least two vehicles per unit.
Property Size2,998 SF
Price / SF$296.83
Days on Market35
Property Features for 6 Buffum Street
General Information
- Standard status
- Active
- Size
- 2,998 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1880
Listing Agency:
A-1 Realty of MA LLC
Listed By:
Duane Papetti
(978) 537-8301
Source:
Foster-healey
Added: Jun 22
Changed: Jul 25
Last Checked: Jul 25 at 2:23AM
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 A-1 Realty of MA LLC
Investment Insights
Based on property information with market context.
This for-sale four-unit residential income property was gutted and updated in 1989–1990 with new plastic drains, copper piping, and electrical throughout. Additional units were added in 1991 and 1992 with variance and permitting. Unit configurations include a first-floor unit with an open farmers porch and two parking spaces, and a second unit with a separate private driveway and entrance. A fourth unit features a private deck and spiral stairs to the bedroom. Recent roof replacements are in place, with the oldest estimated at about 10 years.
The property provides parking for at least two vehicles per unit, with wording in the remarks indicating tenants do not park on the street. Tenants are described as long-term, and utility responsibility is split: electricity is included in rent for the first unit, while the second, third, and fourth tenants pay all utilities.
The property is currently occupied with one person living in each unit. The remarks note group showings only, and pictures are available from before tenants moved in.
The property provides parking for at least two vehicles per unit, with wording in the remarks indicating tenants do not park on the street. Tenants are described as long-term, and utility responsibility is split: electricity is included in rent for the first unit, while the second, third, and fourth tenants pay all utilities.
The property is currently occupied with one person living in each unit. The remarks note group showings only, and pictures are available from before tenants moved in.
Key Highlights
- 1880‑built 4‑unit property updated with new plastic drains, copper piping, and electrical throughout (gutted in 1989/1990).
- Units #3 and #4 added in 1991 and 1992 with variance and permitted approvals.
- Each unit has parking for at least 2 vehicles; first unit has an open farmers porch and 2‑car parking.
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 | $66.6k | $22.20 |
| − Vacancy | −$3.7k | −$1.22 |
| EGI | $62.9k | $20.98 |
| − OpEx | −$18.9k | −$6.29 |
| NOI | $44.0k | $14.69 |
2,998 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$629.0K
$550.3K – $733.8K
NOI $44,027 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$577.4K
$505.2K – $673.6K
NOI $40,415 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.00M
$875.6K – $1.17M
NOI $70,047 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit property with updated plumbing and electrical, multiple private entries, and parking for at least two vehicles per unit.
Where is this quadplex located?
The property is located at 6 Buffum Street Worcester, MA.
What is the asking price?
The asking price for this property is $889,900.
What are key features of this property?
This property features: 1880‑built 4‑unit property updated with new plastic drains, copper piping, and electrical throughout (gutted in 1989/1990).; Units #3 and #4 added in 1991 and 1992 with variance and permitted approvals.; Each unit has parking for at least 2 vehicles; first unit has an open farmers porch and 2‑car parking.
