Renovated Four-Level
For Sale
$856,000
80 Pleasant St, Worcester, MA 01609
Updated interiors include stainless appliances and mini-split heating.
Property Size3,704 SF
Price / SF$231.10
Days on Market8
Property Features for 80 Pleasant St
General Information
Standard status
Active
Size
3,704 SF
Property subtype
4 Family - 4 Units Up/Down
Additional Details
Public Transit
Yes
Building Details
Building Size
3,704 SF
Year Built
1890
Year Renovated
2020
Stories
4
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 29 at 9:53AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This four-level quadplex offers 3,704 square feet of living space with 11 bedrooms and a flexible residential layout. Built in 1890 and substantially renovated in 2020, the property combines older architectural character with updated interiors. Open kitchen and living areas provide connected common spaces, while stainless steel appliances add functional improvements. Each unit is equipped with mini-splits, and select units also have baseboard heaters for supplemental heat.
The property is near area colleges, shopping, restaurants, public transportation, and major routes in Worcester. Parking is limited to on-street parking, with no off-street spaces. The combination of four levels, extensive bedroom count, refreshed systems, and varied heating equipment creates a distinctive multifamily configuration.
The property is near area colleges, shopping, restaurants, public transportation, and major routes in Worcester. Parking is limited to on-street parking, with no off-street spaces. The combination of four levels, extensive bedroom count, refreshed systems, and varied heating equipment creates a distinctive multifamily configuration.
Key Highlights
- 3,704 square feet of living space across four levels
- 11‑bedroom quadplex built in 1890
- Extensive renovations completed in 2020
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
$54,394
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
6.35%
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%
$1,087,880
$1.1M
Cap Rate 7%
$777,057
$777.1K
Cap Rate 9%
$604,378
$604.4K
Market Conditions
NOI Build-Up for 3,704 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
$82.2K $22.20/SF
− Vacancy
−$4.5K −$1.22/SF
EGI
$77.7K $20.98/SF
− OpEx
−$23.3K −$6.29/SF
NOI
$54.4K $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%
$1,087,880
Cap Rate 7%
$777,057
Cap Rate 9%
$604,378
Alternative Uses
Best Use
Multifamily LT 5
$777.1K
$679.9K – $906.6K
NOI $54,394 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$713.3K
$624.2K – $832.2K
NOI $49,932 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,542 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 01609, MA
23,870
Population
9,126
Households
2.6
Avg Household Size
29
Median Age
49%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
6,451
Density / Sq Mi
$61,411
Median Household Income
$32,399
Median Earnings
$1,212
Median Rent
$422,100
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 - Updated interiors include stainless appliances and mini-split heating.
Where is this quadplex located?
The property is located at 80 Pleasant St Worcester, MA.
What is the asking price?
The asking price for this property is $856,000.
What are key features of this property?
This property features: 3,704 square feet of living space across four levels; 11‑bedroom quadplex built in 1890; Extensive renovations completed in 2020
