Five-Unit Multifamily
66 Main St, Princeton, MA 01541
For Sale
$835,000
4 of 5 units are occupied with in-place rents, and the property uses landlord-paid oil heat.
Property Size5,654 SF
Days on Market113
Property Features for 66 Main St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
www.HomeZu.com
Listed By:
Jason Saphire · License MA #0818954
(617) 833-1739
Source:
Classifiedrealtygroup
Added: Jul 25
Changed: Nov 4
Last Checked: Nov 12 at 4:50AM
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 www.HomeZu.com
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Investment Insights
Based on property information with market context.
This five-unit multifamily property includes 5,654 SF and 9 bedrooms with 5 bathrooms total. Four units are currently leased, producing $67,800 in gross annual rent from in-place tenants. The unit mix includes two 1BR units leased at $1,300 and $1,250 per month, a 2BR/1BA unit leased at $1,700 per month, and a second 1BR unit leased at $1,400 per month. One 3BR/1BA unit is vacant and currently carried at a $2,000 per month market rent.
Heating is oil and is landlord-paid. 2025 operating expenses listed are $8,305.96 for taxes, $7,607.80 for insurance, $641.82 for electric, $7,939.35 for heating & cooling, and $420 for water & sewer. The vacant unit provides flexibility for move-in, owner-occupancy, or lease-up to support total potential gross rent of $91,800 per year. Buyer should conduct due diligence.
Heating is oil and is landlord-paid. 2025 operating expenses listed are $8,305.96 for taxes, $7,607.80 for insurance, $641.82 for electric, $7,939.35 for heating & cooling, and $420 for water & sewer. The vacant unit provides flexibility for move-in, owner-occupancy, or lease-up to support total potential gross rent of $91,800 per year. Buyer should conduct due diligence.
Key Highlights
- 5‑unit multifamily in Princeton; 4 of 5 units are currently occupied with in‑place gross annual rent of $67,800 ($5,650/month).
- Unit mix and rents: 1BR leased $1,300/mo; 2BR/1BA leased $1,700/mo; 1BR leased $1,400/mo; 3BR/1BA vacant at $2,000/mo; 1BR leased $1,250/mo.
- 5,654 SF building with 9 bedrooms and 5 bathrooms total; 1860 year built.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,513
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,330,260
$1.3M
Cap Rate 7%
$950,186
$950.2K
Cap Rate 9%
$739,033
$739.0K
Market Conditions
NOI Build-Up for 5,654 SF
Gross rent
$124.2K $21.96/SF
− Vacancy
−$3.2K −$0.57/SF
EGI
$120.9K $21.39/SF
− OpEx
−$54.4K −$9.63/SF
NOI
$66.5K $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 Rate 5%
$1,330,260
Cap Rate 7%
$950,186
Cap Rate 9%
$739,033
Alternative Uses
Best Use
Apartment 5plus
$950.2K
$831.4K – $1.11M
NOI $66,513 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,153 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
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Demographics for 01541, MA
3,495
Population
1,409
Households
2.5
Avg Household Size
49
Median Age
62%
College-Educated
99%
High-School Grad
35.4 sq mi
ZIP Area
99
Density / Sq Mi
$150,577
Median Household Income
$71,212
Median Earnings
$921
Median Rent
$496,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Worcester County, MA
Properties on Market for Apartment buildings in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - 4 of 5 units are occupied with in-place rents, and the property uses landlord-paid oil heat.
Where is this apartment building located?
The property is located at 66 Main St Princeton, MA.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: 5‑unit multifamily in Princeton; 4 of 5 units are currently occupied with in‑place gross annual rent of $67,800 ($5,650/month).; Unit mix and rents: 1BR leased $1,300/mo; 2BR/1BA leased $1,700/mo; 1BR leased $1,400/mo; 3BR/1BA vacant at $2,000/mo; 1BR leased $1,250/mo.; 5,654 SF building with 9 bedrooms and 5 bathrooms total; 1860 year built.
