Renovated Triplex with
For Sale
$650,000
7 Lund Street, Worcester, MA 01607
Three-unit property offering renovated residences, on-site laundry, gas heat, driveway parking, and eat-in kitchens.
Property Size3,246 SF
Price / SF$200.25
Days on Market236
Property Features for 7 Lund Street
General Information
Standard status
Active
Size
3,246 SF
Total Parking Spaces
2
Property subtype
Multi-family / 3 Family
Zoning
RG-5
Occupancy
100%
Net Operating Income
$64,800
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Additional Details
Average Monthly Rent
$1,800
Taxes and HOA fees
Annual Taxes
$5,794
Amenities
on-site laundry
City/Town Sewer, Public
No
Tile, Vinyl
3.0
Full
3
3.00
Frame
Shingle
Porch
Building Details
Year Built
1901
Buildings
1
Listing Agency:
RE/MAX Advantage 1
(508) 757-4200
Listed By:
Daniel DiRoberto · License #9568306
(508) 757-4200
Source:
Compass
Added: Jan 6
Changed: Aug 29
Last Checked: Aug 29 at 6:14PM
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 Advantage 1
Investment Insights
Based on property information with market context.
This 3,246-square-foot triplex, built in 1901, contains three renovated residences with three bedrooms on each floor. The units feature large bedrooms, eat-in kitchens, bright interiors, and full bathrooms. On-site laundry, gas heat, newer windows, vinyl siding, and porch areas add practical functionality. Frame construction and shingle exterior materials complete the building profile.
The property is located at 7 Lund Street in Worcester, Massachusetts, and includes driveway parking for two cars. A large backyard provides additional outdoor space. The property is fully rented and carries RG-5 zoning.
The property is located at 7 Lund Street in Worcester, Massachusetts, and includes driveway parking for two cars. A large backyard provides additional outdoor space. The property is fully rented and carries RG-5 zoning.
Key Highlights
- 3,246‑square‑foot triplex with three units
- Each floor provides 3 bedrooms
- All units renovated with large bedrooms and eat‑in kitchens
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
$47,668
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
7.33%
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%
$953,360
$953.4K
Cap Rate 7%
$680,971
$681.0K
Cap Rate 9%
$529,644
$529.6K
Market Conditions
NOI Build-Up for 3,246 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
$72.1K $22.20/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$68.1K $20.98/SF
− OpEx
−$20.4K −$6.29/SF
NOI
$47.7K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /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%
$953,360
Cap Rate 7%
$680,971
Cap Rate 9%
$529,644
Alternative Uses
Best Use
Multifamily LT 5
$681.0K
$595.9K – $794.5K
NOI $47,668 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$625.1K
$547.0K – $729.3K
NOI $43,758 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$1.08M
$948.0K – $1.26M
NOI $75,841 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 01607, MA
9,378
Population
4,172
Households
2.2
Avg Household Size
36
Median Age
29%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
3,126
Density / Sq Mi
$66,365
Median Household Income
$46,300
Median Earnings
$1,356
Median Rent
$341,300
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-unit property offering renovated residences, on-site laundry, gas heat, driveway parking, and eat-in kitchens.
Where is this triplex located?
The property is located at 7 Lund Street Worcester, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,246‑square‑foot triplex with three units; Each floor provides 3 bedrooms; All units renovated with large bedrooms and eat‑in kitchens
