3-Unit Multifamily
New
For Sale
$489,000
62 Coombs Street, Southbridge, MA 01550
Three residential units offer separate utilities, varied layouts, laundry hookups, a garage, and off-street parking.
Property Size3,124 SF
Price / SF$156.53
Days on Market5
Property Features for 62 Coombs Street
General Information
Standard status
Active
Size
3,124 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
deck
washer/dryer hookups
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Denise Deziel, Denise Deziel Realty
(617) 581-5299
Listed By:
Walker Residential Property · License #K9502121
(617) 581-5299
Source:
Walkerresidentialproperty
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 9:00AM
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 Denise Deziel, Denise Deziel Realty
Investment Insights
Based on property information with market context.
This 1900-built triplex at 62 Coombs Street includes three separate residential units with distinct layouts. The first and second floors each contain 3 bedrooms, while the second-floor apartment also provides 2 full baths and its own washer/dryer hookups. The third-floor unit includes 2 bedrooms and 1 bath. Washer/dryer hookups are also available on the first floor.
The first floor is heated by oil, and the second floor has a parlor heater. Carpeted flooring extends throughout the building, and the second floor opens to a large rear deck. The property includes one garage and off-street parking for 3 cars, with separate utilities for each unit. Long-term tenants occupy the first- and second-floor apartments. The property is located in Southbridge, minutes from downtown.
The first floor is heated by oil, and the second floor has a parlor heater. Carpeted flooring extends throughout the building, and the second floor opens to a large rear deck. The property includes one garage and off-street parking for 3 cars, with separate utilities for each unit. Long-term tenants occupy the first- and second-floor apartments. The property is located in Southbridge, minutes from downtown.
Key Highlights
- Three‑unit triplex with 3‑bedroom apartments on the first and second floors
- Second‑floor unit includes 2 full baths and a large rear deck
- Third‑floor apartment offers 2 bedrooms and 1 bath
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
$42,229
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
8.64%
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%
$844,580
$844.6K
Cap Rate 7%
$603,271
$603.3K
Cap Rate 9%
$469,211
$469.2K
Market Conditions
NOI Build-Up for 3,124 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
$61.9K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$60.3K $19.31/SF
− OpEx
−$18.1K −$5.79/SF
NOI
$42.2K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$844,580
Cap Rate 7%
$603,271
Cap Rate 9%
$469,211
Alternative Uses
Best Use
Multifamily LT 5
$603.3K
$527.9K – $703.8K
NOI $42,229 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$525.0K
$459.4K – $612.5K
NOI $36,751 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$1.07M
$933.5K – $1.24M
NOI $74,676 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
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?
Triplex - Three residential units offer separate utilities, varied layouts, laundry hookups, a garage, and off-street parking.
Where is this triplex located?
The property is located at 62 Coombs Street Southbridge, MA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Three‑unit triplex with 3‑bedroom apartments on the first and second floors; Second‑floor unit includes 2 full baths and a large rear deck; Third‑floor apartment offers 2 bedrooms and 1 bath
