Building Details

Year Built 1955

Listing Agency: Coldwell Banker Realty - Franklin Show Phone

Listed By: Suzanne Ranieri · License #RES.0027891 Show Phone

Source: Lockandkeyre

Added: Aug 18 Changed: Oct 13 Last Checked: Oct 15 at 12:15AM

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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 Coldwell Banker Realty - Franklin

Investment Insights

Based on property information with market context.

Built in 1955, this ranch-style residential property contains three separate living units: a full first-floor apartment plus two one-bedroom apartments, including one in the lower level and another positioned at the rear of the house. Each unit requires rehabilitation, making the property suited to a renovation-focused buyer.

The property has frontage along Harris Pond, with access to fishing, kayaking, and seasonal skating. A connection to the town sewer system will be required. Existing long-term tenants are in place, and the property is located in Blackstone, Massachusetts.

Key Highlights

• Three‑unit residential property with a full first‑floor apartment
• Two one‑bedroom apartments, including lower‑level and rear‑house units
• All units require rehabilitation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,847

Cap Rate

7.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$596,940 $596.9K

Cap Rate 7%

$426,386 $426.4K

Cap Rate 9%

$331,633 $331.6K

Market Conditions

NOI Build-Up for 2,208 SF

Gross rent

$43.7K $19.80/SF

− Vacancy

−$1.1K −$0.49/SF

EGI

$42.6K $19.31/SF

− OpEx

−$12.8K −$5.79/SF

NOI

$29.8K $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 Rate 5%

$596,940

Cap Rate 7%

$426,386

Cap Rate 9%

$331,633

Alternative Uses

Best Use

Multifamily LT 5

$426.4K

$373.1K – $497.5K (±1% cap)

NOI $29,847 @ 7.0% cap · market cap 7.46%

Second Best

Apartment 5plus

$371.1K

$324.7K – $432.9K (±1% cap)

NOI $25,975 @ 7.0% cap · market cap 6.50%

Theoretical Best

Office A

$754.0K

$659.8K – $879.7K (±1% cap)

NOI $52,780 @ 7.0% cap · market cap 13.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

126

Businesses Nearby

Explore this area Business Placement

Demographics for 01504, MA

9,208

Population

4,079

Households

2.3

Avg Household Size

43

Median Age

35%

College-Educated

96%

High-School Grad

11.1 sq mi

ZIP Area

830

Density / Sq Mi

$98,986

Median Household Income

$61,973

Median Earnings

$1,157

Median Rent

$394,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three-unit property with two one-bedroom apartments and a full-floor residence.

Where is this triplex located?

The property is located at 78 Edgewater Dr Blackstone, MA.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Three‑unit residential property with a full first‑floor apartment; Two one‑bedroom apartments, including lower‑level and rear‑house units; All units require rehabilitation