Three-Family Residential Income
60 Esther St Worcester, MA 01607
60 Esther St, Worcester, MA, 01607
$790,000
For Sale
$790,000
Spacious three-unit building with nine bedrooms, three full baths, and recently completed roof replacement.
Property Size4,041 SF
Price / SF$195.50
Days on Market36
Property Features for 60 Esther St
General Information
- Standard status
- Active
- Size
- 4,041 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1900
Listing agency
Phoenix Real Estate Partners, LLC
(617) 580-6294
Listed by
Jiasen Niu
(617) 580-6294
Source
Lockandkeyre
Added: Jun 16 Updated: Jul 21 at 12:03AM Checked: Jul 21 at 3:18AM
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 Phoenix Real Estate Partners, LLC
Investment Insights
Based on property information with market context.
This three-family residential income property offers approximately 4,041 sq. ft. of living area with nine bedrooms and three full baths. Each unit features generous rooms and a functional layout. The seller has completed a complete roof replacement, including new shingles, underlayment, ice and water shield, gutters, fascia, soffits, downspouts, and updated flashing. Additional recent updates include a Unit 3 parlor heater, a Unit 2 washer and dryer, a Unit 1 refrigerator, and one replaced hot water tank.
The property is conveniently located near the Shoppes at Blackstone and provides easy access to Routes 146 and 20. There is one off-street parking space available.
The building is configured as three separate residential units, supporting an owner looking for a multi-unit setup with documented exterior and select in-unit improvements.
The property is conveniently located near the Shoppes at Blackstone and provides easy access to Routes 146 and 20. There is one off-street parking space available.
The building is configured as three separate residential units, supporting an owner looking for a multi-unit setup with documented exterior and select in-unit improvements.
Key Highlights
- Spacious 3‑family property with 9 bedrooms, 3 full baths, and approx. 4,041 sq. ft. of living area
- Complete roof replacement completed with new shingles, underlayment, ice & water shield, gutters, fascia, soffits, downspouts, and updated flashing
- Recent unit updates include Unit 3 parlor heater, Unit 2 washer and dryer, and Unit 1 refrigerator
Local 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 | $89.7k | $22.20 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $84.8k | $20.98 |
| − OpEx | −$25.4k | −$6.29 |
| NOI | $59.3k | $14.69 |
4,041 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$847.8K
$741.8K – $989.1K
NOI $59,343 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$778.2K
$680.9K – $907.9K
NOI $54,475 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,416 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Spacious three-unit building with nine bedrooms, three full baths, and recently completed roof replacement.
Where is this triplex located?
The property is located at 60 Esther St Worcester, MA.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Spacious 3‑family property with 9 bedrooms, 3 full baths, and approx. 4,041 sq. ft. of living area; Complete roof replacement completed with new shingles, underlayment, ice & water shield, gutters, fascia, soffits, downspouts, and updated flashing; Recent unit updates include Unit 3 parlor heater, Unit 2 washer and dryer, and Unit 1 refrigerator
