5-Unit Apartment
New
For Sale
$789,000
6 N Main Street, Grafton, MA 01536
Residential Income, Grafton, MA
Property Size3,754 SF
Lot Size0.39 Acres
Price / SF$210.18
Days on Market3
Property Features for 6 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 9, Bathroom 5, Bathroom 1, Bedroom 8, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 7, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 6
Parking
9
Directions
GPS
Standard status
Active
APN
1524343
Size
3,754 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8406
Amenities
private yard
Building Details
Year built
1920
Floors in Building
5
Number of units
5
Listing Agency:
Keller Williams Pinnacle Central · Keller Williams Realty
(508) 754-3020
Listed By:
Sarah Gustafson
(508) 754-3020
Added: Aug 27
Last Checked: Aug 29 at 3:06AM
MLS# 73569079
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 five-unit apartment property contains 3,754 square feet on a 16,988-square-foot lot and was built in 1920. The building includes nine bedrooms and five full bathrooms, with each apartment separately metered for gas heat and electricity. Three units feature updated kitchens with stainless steel appliances, while the other two provide an opportunity for further improvement. A private yard serves the property, which uses city water and a private septic system.
The property is located in North Grafton Village and is zoned residential. Common-area utilities and water are paid by the seller, while separate gas and electric meters support unit-level expense allocation.
The property is located in North Grafton Village and is zoned residential. Common-area utilities and water are paid by the seller, while separate gas and electric meters support unit-level expense allocation.
Key Highlights
- Five‑unit multifamily property with 9 bedrooms and 5 full baths
- 3,754 SF building on a 16,988 SF lot
- Built in 1920 with three recently updated kitchens
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
$44,162
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
5.60%
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%
$883,240
$883.2K
Cap Rate 7%
$630,886
$630.9K
Cap Rate 9%
$490,689
$490.7K
Market Conditions
NOI Build-Up for 3,754 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
$82.4K $21.96/SF
− Vacancy
−$2.1K −$0.57/SF
EGI
$80.3K $21.39/SF
− OpEx
−$36.1K −$9.63/SF
NOI
$44.2K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /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%
$883,240
Cap Rate 7%
$630,886
Cap Rate 9%
$490,689
Alternative Uses
Best Use
Apartment 5plus
$630.9K
$552.0K – $736.0K
NOI $44,162 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,736 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 01536, MA
7,514
Population
3,230
Households
2.3
Avg Household Size
41
Median Age
48%
College-Educated
94%
High-School Grad
8.6 sq mi
ZIP Area
874
Density / Sq Mi
$105,795
Median Household Income
$62,035
Median Earnings
$450,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five separately metered apartments with updated kitchens, individual utilities, and a private yard.
Where is this apartment building located?
The property is located at 6 N Main Street Grafton, MA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Five‑unit multifamily property with 9 bedrooms and 5 full baths; 3,754 SF building on a 16,988 SF lot; Built in 1920 with three recently updated kitchens
