9-Bedroom Rooming
For Sale
$750,000
60 Fruit Street, Worcester, MA 01609
Licensed, fully occupied multifamily property with shared kitchen and coin-operated laundry.
Property Size2,694 SF
Price / SF$278.40
Days on Market300
Property Features for 60 Fruit Street
General Information
Standard status
Active
Size
2,694 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Amenities
coin-op laundry
Building Details
Year Built
1890
Listing Agency:
RE/MAX Vision
(508) 868-2759
Listed By:
Anthony Economou · License #453003225
Source:
Stonewallre
Added: Nov 6, 2025
Changed: Aug 28
Last Checked: Aug 31 at 7:43PM
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 RE/MAX Vision
Investment Insights
Based on property information with market context.
This 2,694-square-foot rooming house was built in 1890 and includes 9 bedrooms, an eat-in kitchen, and 2 full bathrooms. The property is licensed, fully rented, and equipped with coin-operated laundry, vinyl siding, sprinkler protection, gas hot-air heat installed approximately 10 years ago, and a 50-gallon hot water tank installed approximately 7 years ago.
Located two blocks from the WPI campus, the property is approximately a 6-minute walk from campus and offers access to Elm Park, restaurants, food establishments, WRTA bus service, and retail options. The property conforms to annual City-required inspections.
Located two blocks from the WPI campus, the property is approximately a 6-minute walk from campus and offers access to Elm Park, restaurants, food establishments, WRTA bus service, and retail options. The property conforms to annual City-required inspections.
Key Highlights
- 9 bedrooms, eat‑in kitchen, and 2 full bathrooms
- 2,694 SF multifamily property built in 1890
- Licensed rooming house with all units fully rented
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
$36,316
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
4.84%
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%
$726,320
$726.3K
Cap Rate 7%
$518,800
$518.8K
Cap Rate 9%
$403,511
$403.5K
Market Conditions
NOI Build-Up for 2,694 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
$69.5K $25.80/SF
− Vacancy
−$3.5K −$1.29/SF
EGI
$66.0K $24.51/SF
− OpEx
−$29.7K −$11.03/SF
NOI
$36.3K $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%
$726,320
Cap Rate 7%
$518,800
Cap Rate 9%
$403,511
Alternative Uses
Best Use
Apartment 5plus
$518.8K
$454.0K – $605.3K
NOI $36,316 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$899.2K
$786.8K – $1.05M
NOI $62,944 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
4,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 01609, MA
23,870
Population
9,126
Households
2.6
Avg Household Size
29
Median Age
49%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
6,451
Density / Sq Mi
$61,411
Median Household Income
$32,399
Median Earnings
$1,212
Median Rent
$422,100
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?
Multifamily property - Licensed, fully occupied multifamily property with shared kitchen and coin-operated laundry.
Where is this multifamily property located?
The property is located at 60 Fruit Street Worcester, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 9 bedrooms, eat‑in kitchen, and 2 full bathrooms; 2,694 SF multifamily property built in 1890; Licensed rooming house with all units fully rented
