Townhouse-Style
New
For Sale
$650,000
74 North St, Southbridge, MA 01550
Fully occupied multifamily property with separately metered electricity, renovated units, and off-street parking.
Property Size3,276 SF
Price / SF$198.41
Days on Market3
Property Features for 74 North St
General Information
Standard status
Active
Size
3,276 SF
Total Parking Spaces
3
Property subtype
Investment
Occupancy
100%
Additional Details
Gross Income
$80,100
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,129
Building Details
Building Size
3,276 SF
Year Built
1885
Stories
3
Units
4
Listing Agency:
Stuart St James, Inc.
(617) 819-5850
Listed By:
Darin Thompson · License #9514800
(617) 819-5850
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 8:40AM
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 Stuart St James, Inc.
Investment Insights
Based on property information with market context.
Built in 1885, this four-unit property provides 3,276 square feet with 8 bedrooms and 4 full bathrooms. Each residence follows a townhouse-style arrangement, placing living areas on the first floor and bedrooms above. Two units have updated kitchens, bathrooms, flooring, lighting, and appliances. The building also includes a full fieldstone basement and three designated off-street parking spaces.
Located on a corner lot at 74 North St in Southbridge Town, the property is fully occupied. Tenants are responsible for separately metered electricity and electric heat, while ownership pays for water, sewer, trash, and recycling. The property has a Walk Score of 36 and a Bike Score of 28.
Located on a corner lot at 74 North St in Southbridge Town, the property is fully occupied. Tenants are responsible for separately metered electricity and electric heat, while ownership pays for water, sewer, trash, and recycling. The property has a Walk Score of 36 and a Bike Score of 28.
Key Highlights
- Four‑unit property with 8 bedrooms and 4 full bathrooms
- 3,276 square feet in a townhouse‑style layout
- Two units renovated with updated kitchens, bathrooms, flooring, lighting and appliances
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
$44,284
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
6.81%
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%
$885,680
$885.7K
Cap Rate 7%
$632,629
$632.6K
Cap Rate 9%
$492,044
$492.0K
Market Conditions
NOI Build-Up for 3,276 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
$64.9K $19.80/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$63.3K $19.31/SF
− OpEx
−$19.0K −$5.79/SF
NOI
$44.3K $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%
$885,680
Cap Rate 7%
$632,629
Cap Rate 9%
$492,044
Alternative Uses
Best Use
Multifamily LT 5
$632.6K
$553.6K – $738.1K
NOI $44,284 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$550.6K
$481.7K – $642.3K
NOI $38,539 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.12M
$978.9K – $1.31M
NOI $78,310 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
743
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied multifamily property with separately metered electricity, renovated units, and off-street parking.
Where is this quadplex located?
The property is located at 74 North St Southbridge, 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: Four‑unit property with 8 bedrooms and 4 full bathrooms; 3,276 square feet in a townhouse‑style layout; Two units renovated with updated kitchens, bathrooms, flooring, lighting and appliances
