Three-Unit Residential
For Sale
$685,000
Pending
130 Kenberma Road, Worcester, MA 01604
Residential Income, Worcester, MA
Property Size2,559 SF
Lot Size0.11 Acres
Days on Market150
Property Features for 130 Kenberma Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
6
Directions
Massasoit Road to Kenberma Road, near Rice Square School
Standard status
Pending
APN
1794186
Size
2,559 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6388
Amenities
laundry facilities
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vision · RE/MAX International
(508) 595-9900
Listed By:
Jeff Burk · License #9035530
(508) 595-9900
Added: Apr 3
Changed: Aug 19
Last Checked: Aug 30 at 4:06PM
MLS# 73495625
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1910, this 2,559-square-foot triplex contains three matching apartments, each arranged with two bedrooms, a bathroom, an open eat-in kitchen, a living room, and laundry facilities. Thermopane vinyl windows serve the units, while the flat 0.1148-acre parcel provides on-site parking and rear green space. The property is zoned RG-5.
Located at 130 Kenberma Road in Worcester, the building sits just off Massasoit Road near Grafton Street and Rice Square School. The setting offers access to local services and highways. All three apartments are occupied by long-term tenants, and the building is described as easy to maintain.
Located at 130 Kenberma Road in Worcester, the building sits just off Massasoit Road near Grafton Street and Rice Square School. The setting offers access to local services and highways. All three apartments are occupied by long-term tenants, and the building is described as easy to maintain.
Key Highlights
- Three‑unit building with three matching two‑bedroom apartments
- 2,559 square feet on a 0.1148‑acre lot
- Built in 1910 and zoned RG‑5
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
$37,580
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
5.49%
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%
$751,600
$751.6K
Cap Rate 7%
$536,857
$536.9K
Cap Rate 9%
$417,556
$417.6K
Market Conditions
NOI Build-Up for 2,559 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
$56.8K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$53.7K $20.98/SF
− OpEx
−$16.1K −$6.29/SF
NOI
$37.6K $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%
$751,600
Cap Rate 7%
$536,857
Cap Rate 9%
$417,556
Alternative Uses
Best Use
Multifamily LT 5
$536.9K
$469.8K – $626.3K
NOI $37,580 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$492.8K
$431.2K – $575.0K
NOI $34,497 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$854.1K
$747.4K – $996.5K
NOI $59,790 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Identical two-bedroom apartments include laundry, kitchens, and living rooms.
Where is this triplex located?
The property is located at 130 Kenberma Road Worcester, MA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Three‑unit building with three matching two‑bedroom apartments; 2,559 square feet on a 0.1148‑acre lot; Built in 1910 and zoned RG‑5
