Nine-Bedroom Rooming
For Sale
$750,000
60 Fruit Street, Worcester, MA 01609
Residential Income, Worcester, MA
Property Size2,694 SF
Lot Size0.11 Acres
Price / SF$278.40
Days on Market246
Property Features for 60 Fruit Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
9
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 8, Bathroom 2, Bedroom 6, Bedroom 2, Bedroom 9, Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1
Directions
Highland to Fruit Street
Standard status
Active
APN
1763598
Size
2,694 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4213
Amenities
coin-op laundry
Building Details
Year built
1890
Floors in Building
3
Listing Agency:
RE/MAX Vision · RE/MAX International
(508) 595-9900
Listed By:
Jeff Burk · License #9035530
(508) 595-9900
Added: Dec 19, 2025
Changed: Aug 19
Last Checked: Aug 22 at 3:06AM
MLS# 73463084
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.
Licensed rooming house configured for nine bedrooms with an eat-in kitchen and two full bathrooms. The property includes gas hot air heat with an approximately 10-year age, a 50-gallon hot water tank with an approximately 7-year age, coin-op laundry, vinyl siding, and sprinklers. The home is described as conforming to annual City-required inspections.
Located at 60 Fruit Street in Worcester, MA, the property is described as about a 6-minute walk (two blocks) from WPI campus and offers nearby access to historic Elm Park, restaurants and food establishments, WRTA bus service, and retail options.
The arrangement includes multiple bedrooms and two full baths, supporting its existing rooming house use.
Located at 60 Fruit Street in Worcester, MA, the property is described as about a 6-minute walk (two blocks) from WPI campus and offers nearby access to historic Elm Park, restaurants and food establishments, WRTA bus service, and retail options.
The arrangement includes multiple bedrooms and two full baths, supporting its existing rooming house use.
Key Highlights
- 9 bedrooms in a licensed rooming house configuration
- Eat‑in kitchen plus 2 full baths
- Gas hot air heat approximately 10 years old
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?
Apartment building - Licensed rooming house with eat-in kitchen, two full baths, and coin-op laundry for a fully rented setup.
Where is this apartment building 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 in a licensed rooming house configuration; Eat‑in kitchen plus 2 full baths; Gas hot air heat approximately 10 years old
