Triplex With Attached 3-Car
New
For Sale
$699,900
6 Indiana St, Worcester, MA 01604
Three-family property with nine bedrooms, off-street parking, and flexible layouts near commuter routes and area institutions.
Property Size4,554 SF
Lot Size0.22 Acres
Days on Market4
Property Features for 6 Indiana St
General Information
Standard status
Active
Size
4,554 SF
Lot size
0.22 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,148
Building Details
Building Size
4,554 SF
Year Built
1910
Buildings
1
Stories
3
Units
3
Listing Agency:
Coldwell Banker Real Estate LLC
(508) 769-2557
Listed By:
Kim McCrohon · License #9011083
(508) 769-2557
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 8:41AM
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 Coldwell Banker Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1910, this three-family property at 6 Indiana St. contains 9 bedrooms and 3 bathrooms across three residential units. The building features open layouts, natural-light interiors, craftsman woodwork, vinyl siding, and an attached 3-car garage. A newer first-floor heating system is also in place. The property requires cosmetic work, and an owner’s electrical panel is needed.
The approximately 0.22-acre parcel includes additional off-street parking and a side yard. Rice Square, I-290, Route 9, the Massachusetts Turnpike, local universities, UMass hospital, and downtown Worcester are nearby. WalkScore, BikeScore, and TransitScore are 51, 37, and 29, respectively.
The approximately 0.22-acre parcel includes additional off-street parking and a side yard. Rice Square, I-290, Route 9, the Massachusetts Turnpike, local universities, UMass hospital, and downtown Worcester are nearby. WalkScore, BikeScore, and TransitScore are 51, 37, and 29, respectively.
Key Highlights
- Three‑family property with 9 bedrooms and 3 bathrooms
- Attached 3 CAR GARAGE plus additional off‑street parking
- Approximately 0.22‑acre lot with side yard
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
$61,390
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
8.77%
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%
$1,227,800
$1.2M
Cap Rate 7%
$877,000
$877.0K
Cap Rate 9%
$682,111
$682.1K
Market Conditions
NOI Build-Up for 4,554 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
$117.5K $25.80/SF
− Vacancy
−$5.9K −$1.29/SF
EGI
$111.6K $24.51/SF
− OpEx
−$50.2K −$11.03/SF
NOI
$61.4K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,227,800
Cap Rate 7%
$877,000
Cap Rate 9%
$682,111
Alternative Uses
Best Use
Multifamily LT 5
$955.4K
$836.0K – $1.11M
NOI $66,877 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$877.0K
$767.4K – $1.02M
NOI $61,390 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,402 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
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-family property with nine bedrooms, off-street parking, and flexible layouts near commuter routes and area institutions.
Where is this triplex located?
The property is located at 6 Indiana St Worcester, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑family property with 9 bedrooms and 3 bathrooms; Attached 3 CAR GARAGE plus additional off‑street parking; Approximately 0.22‑acre lot with side yard
