74 Esther St, Worcester, MA 01607
For Sale
$749,900
Pending
Triplexes
Property Size3,866 SF
Days on Market200
Property Features for 74 Esther St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listed By:
Jeremy Smith
(781) 531-8988
Source:
Elliman
Added: Apr 24
Changed: Oct 31
Last Checked: Nov 8 at 7:29AM
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 Jeremy Smith
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Investment Insights
Based on property information with market context.
Key Highlights
- Immediate income from a well‑maintained three‑family property.
- Value‑add opportunity with rents currently below market.
- Each unit features 4 bedrooms and 1 full bath with in‑unit laundry.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,773
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,135,460
$1.1M
Cap Rate 7%
$811,043
$811.0K
Cap Rate 9%
$630,811
$630.8K
Market Conditions
NOI Build-Up for 3,866 SF
Gross rent
$85.8K $22.20/SF
− Vacancy
−$4.7K −$1.22/SF
EGI
$81.1K $20.98/SF
− OpEx
−$24.3K −$6.29/SF
NOI
$56.8K $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 Rate 5%
$1,135,460
Cap Rate 7%
$811,043
Cap Rate 9%
$630,811
Alternative Uses
Best Use
Multifamily LT 5
$811.0K
$709.7K – $946.2K
NOI $56,773 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$744.5K
$651.5K – $868.6K
NOI $52,116 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,327 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
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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
$341,300
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Worcester, MA
Properties on Market for Triplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
Where is this triplex located?
The property is located at 74 Esther St Worcester, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Immediate income from a well‑maintained three‑family property.; Value‑add opportunity with rents currently below market.; Each unit features 4 bedrooms and 1 full bath with in‑unit laundry.
