223 Mechanic St, Leominster MA 01453
Leominster, MA 01453
$800,000
Est. $4,925/month
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About this home
Exceptional Investment Opportunity! Well-maintained 5-unit income-producing property generating $7,656 per month in rental income. This attractive building is in great condition and offers investors immediate cash flow with strong rental potential. Situated on a corner lot in a convenient location just minutes from downtown, the property provides easy access to major highways and is located on a bus route. Tenants will appreciate the proximity to shopping, restaurants, churches, and the Mall at Whitney Field, making this a highly desirable rental location. Whether you're adding to an existing portfolio or purchasing your first multi-family investment, this property offers the combination of location, condition, and steady income that investors are looking for.
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Recently Sold Nearby
Property History
Property Timeline
Listed for Sale
Aug 13, 2026
$800,000
Original listing
Agent: Paula Valente
Office: Real Estate Exchange
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 08/13/2026 | 🏠 Listed for Sale | $800,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $8,154 | $596,900 |
Financial Details
Annual Property Tax
$8,154
Tax Year 2026
Assessed Value
$596,900
Facts & Features
1 Car Garage
Home Facts
Type
Residential Income
Style
5+ Family - 5+ Units Up/Down
Year Built
1900
Living Area
4,278 sq ft
Lot Size
0.11 acres
Stories
5
Bedrooms
7
Full Baths
5
Total Rooms
19
Investment Metrics
Units
5
Unit 1 Rent
$1,380/mo · Y
Unit 2 Rent
$1,400/mo · Y
Unit 3 Rent
$2,200/mo · Y
Unit 4 Rent
$1,250/mo · N
Total Monthly Rent
$6,230/mo
Gross Income
$91,872
Net Operating Income
$91,872
Cap Rate
11.48%
Interior
Heating
Natural Gas, Individual, Unit Control, Wall Unit
Cooling
None
Flooring
Varies, Hardwood
Appliances
Range, Refrigerator, Washer, Dryer
Fireplace
None
Basement
Full, Dirt Floor
Laundry
None
Features
Ceiling Fan(s), Living Room, Kitchen, Office/den, Dining Room, Laundry Room
Exterior
Construction
Frame
Architecture
None
Roof
Tar/gravel
Features
Balcony/deck
Pool
None
Spa
None
Fencing
None
Patio/Porch
Porch
Parking
Garage Spaces
1
Has Garage
Yes
Features
Paved Drive, Off Street
Total Spaces
6
Utilities
Electric
Varies Per Unit
Water
Public
Sewer
Public Sewer
Gas
None
Other
For Gas Range, Varies Per Unit
Financial
Annual Tax
$8,154
Assessed Value
$596,900
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Lead Paint
Unknown
Seller Disclosures
None
Additional Details
Possession
None
Accepted Financing
Lender Approval Required
Structure Type
[]
House Color
Gray
Sq Ft Source
Public Record
Documents
None
County
Worcester
Total market time (incl. prior listings)
14 days
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1900
Bedrooms
7
Full Bathrooms
5
Living Area
4,278 sq ft
Total Rooms
19
Stories
5
Levels
5
Floor Layout
Interactive room guide
Floor Layout
Finished Area
4,278 sq ft above grade
Display Options
Outdoor Areas
Patio & porchPorch
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Varies, Hardwood
Appliances:
Range, Refrigerator, Washer, Dryer
Interior Features:
Ceiling Fan(s), Living Room, Kitchen, Office/Den, Dining Room, Laundry Room
Windows:
Picture Window, Skylight(s)
Basement:
Full, Dirt Floor
Laundry:
Security:
Construction & Materials
Year Built:
1900
Structure Type:
Exterior Materials:
Frame
Roof:
Tar/Gravel
Foundation:
Stone
Stories:
5
Heating, Cooling & Utilities
Heating:
Natural Gas, Individual, Unit Control, Wall Unit
Cooling:
None
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Balcony/Deck
Patio & Porch:
Porch
Fencing:
Other Structures:
Lot Features:
Corner Lot, Cleared
Road Surface:
Paved
Parking & Garage
Garage Spaces:
1
Total Parking Spaces:
6
Parking Features:
Paved Drive, Off Street
Nearby Schools
School District
Leominster School District local
B-
School Safety
2024-25
2.2%
Average
2.2%
Suspensions
4.1%
In-School
3.3% below state avg
Elementary Schools
9 schools
St. Anna School
0.4 mi
Grades PK-12
St. Leo School
0.7 mi
Grades PK-08
C+
Frances Drake School
0.4 mi
|
#536 of 824
|
Score: 43.5
Improved 157 spots from last year
-14.7 below state avg
512 students
Diverse
Rising School
Diverse Student Body
Grades K-05
Bennett School
0.8 mi
115 students
Diverse
Diverse Student Body
Grades PK
Priest Street School
1.0 mi
151 students
Diverse
Diverse Student Body
Grades K
C+
Northwest School
1.3 mi
|
#555 of 824
|
Score: 42.8
Improved 100 spots from last year
-15.4 below state avg
665 students
Diverse
Rising School
Diverse Student Body
Grades 01-05
B
Johnny Appleseed School
2.0 mi
|
#416 of 824
|
Score: 47.3
Improved 82 spots from last year
-10.9 below state avg
692 students
Diverse
Rising School
Diverse Student Body
Grades K-05
Lincoln School
2.1 mi
46 students
Diverse
Diverse Student Body
Grades PK
A-
Fall Brook School
2.2 mi
|
#203 of 824
|
Score: 54.8
Improved 10 spots from last year
-3.4 below state avg
670 students
Diverse
Diverse Student Body
Strong Attendance
Grades K-05
Middle Schools
2 schools
B-
Sky View Middle School
2.1 mi
|
#194 of 352
|
Score: 40.9
Improved 30 spots from last year
-17.3 below state avg
869 students
Diverse
Rising School
Diverse Student Body
Grades 06-08
B-
Samoset School
2.1 mi
|
#207 of 352
|
Score: 40.0
Improved 13 spots from last year
-18.2 below state avg
495 students
Diverse
Diverse Student Body
Grades 06-08
High Schools
4 schools
C-
Leominster Center for Excellence
0.4 mi
|
#309 of 346
|
Score: 35.9
Dropped 22 spots from last year
-22.3 below state avg
65 students
Diverse
Early College Program
College Ready Curriculum
Grades 09-12
Leominster Academy
0.4 mi
32 students
Diverse
College Ready Curriculum
Grades 09-12
B-
Center For Technical Education Innovation
1.6 mi
|
#210 of 346
|
Score: 50.7
Dropped 18 spots from last year
-7.5 below state avg
821 students
Diverse
Strong AP Program
Early College Program
High Graduation Rate
Career Tech Programs
Grades 09-12
B-
Leominster High School
1.6 mi
|
#206 of 346
|
Score: 51.1
Dropped 61 spots from last year
-7.1 below state avg
1,060 students
Diverse
19 sports
• 1,746 athletes
Early College Program
High Graduation Rate
College Ready Curriculum
Strong Athletics
Grades 09-12
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Including down payment
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Monthly Payment Breakdown
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Property Tax
$680
Homeowners Insurance
$200
PMI (if <20% down)
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Loan Summary
Total of 360 payments
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
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Location
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Neighborhood
223 Mechanic St, Leominster MA 01453
Leominster, MA 01453
Listing Information
Listing Agent
Paula Valente
Listing Office
Real Estate Exchange
Office Phone
978-582-4339
Agent MLS ID
CN233238
Office MLS ID
H22100
Listing Data Updated
Aug 13, 2026 7:12 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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