Four-Unit Quadplex with
For Sale
$799,900
8 Fern Street, Worcester, MA 01610
Worcester quadplex near Clark University with separate utilities, three occupied units, and one available for occupancy.
Property Size4,855 SF
Price / SF$164.76
Days on Market147
Property Features for 8 Fern Street
General Information
Standard status
Active
Size
4,855 SF
Total Parking Spaces
3
Property subtype
Multi-family / 4 Family - 4 Units Up/Down
Zoning
RL-7
Net Operating Income
$66,200
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,835
Amenities
No
Wood, Vinyl, Vinyl / VCT
Range, Refrigerator
4.0
Insulated Windows
Partial, Walk Out
4
4.00
Frame, Brick
Shingle
Porch
Building Details
Year Built
1890
Listing Agency:
Limitless Real Estate Group, LLC
(617) 958-1904
Listed By:
Michael Duran · License #9560491
(617) 958-1904
Source:
Compass
Added: Apr 8
Changed: Aug 31
Last Checked: Aug 30 at 1:31AM
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 Limitless Real Estate Group, LLC
Investment Insights
Based on property information with market context.
Built in 1890, this 4,855-square-foot quadplex contains four units and 11 bedrooms. Three units are occupied, while the fourth is vacant and available for an owner-occupant or repositioning plan. Separate utilities serve the units, and the property includes ranges and refrigerators, insulated windows, porches, and partial walk-out basement access.
The property is located near Clark University, employment centers, and public transportation in Worcester. Off-street parking is available, with additional on-street parking nearby. The property is zoned RL-7 and includes a frame-and-brick exterior with shingle siding.
The property is located near Clark University, employment centers, and public transportation in Worcester. Off-street parking is available, with additional on-street parking nearby. The property is zoned RL-7 and includes a frame-and-brick exterior with shingle siding.
Key Highlights
- Four‑unit quadplex with 11 bedrooms across 4 units
- 4,855 SF building constructed in 1890
- Three occupied units plus one vacant unit
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
$71,297
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
8.91%
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%
$1,425,940
$1.4M
Cap Rate 7%
$1,018,529
$1.0M
Cap Rate 9%
$792,189
$792.2K
Market Conditions
NOI Build-Up for 4,855 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
$107.8K $22.20/SF
− Vacancy
−$5.9K −$1.22/SF
EGI
$101.9K $20.98/SF
− OpEx
−$30.6K −$6.29/SF
NOI
$71.3K $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%
$1,425,940
Cap Rate 7%
$1,018,529
Cap Rate 9%
$792,189
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$891.2K – $1.19M
NOI $71,297 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$935.0K
$818.1K – $1.09M
NOI $65,448 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,435 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
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 - Worcester quadplex near Clark University with separate utilities, three occupied units, and one available for occupancy.
Where is this quadplex located?
The property is located at 8 Fern Street Worcester, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four‑unit quadplex with 11 bedrooms across 4 units; 4,855 SF building constructed in 1890; Three occupied units plus one vacant unit
