Three-Family With Off-Street
188 Vernon Street Worcester, MA 01607
For Sale
$599,999
MULTI_FAMILY - Worcester, MA
Property Size2,724 SF
Lot Size0.08 Acres
Price / SF$220.26
Days on Market12
Property Features for 188 Vernon Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RG-5
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2
- Parking
- 3
- Standard status
- Active
- APN
- M:10 B:004 L:00015,1771713
- Size
- 2,724 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6354
Building Details
- Year built
- 1890
- Floors in Building
- 3
- Number of units
- 3
Listing Agency:
Keller Williams Pinnacle Central
(508) 754-3020
Listed By:
Sarah Gustafson
(508) 754-3020
Added: Jul 14
Changed: Jul 18
Last Checked: Jul 25 at 12:06AM
MLS# 73549695
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.
This vinyl-sided three-family property in Worcester, MA is well maintained and has been cared for by the same owner for many years. The first-floor unit is owner-occupied, while the second and third floors are vacant. Interiors include hardwood floors, and each unit has separate utilities. There is also a full basement, offering additional space and storage.
The building includes off-street parking for three cars. The property is described as conveniently located near shopping, restaurants, highways, and public transportation.
Buyer notice: flaking paint is present on the rear porches, which may affect FHA financing. Buyers should confirm financing requirements with their lender, and are encouraged to review the 3D virtual tour before scheduling a showing, as it includes all three units and the basement.
The building includes off-street parking for three cars. The property is described as conveniently located near shopping, restaurants, highways, and public transportation.
Buyer notice: flaking paint is present on the rear porches, which may affect FHA financing. Buyers should confirm financing requirements with their lender, and are encouraged to review the 3D virtual tour before scheduling a showing, as it includes all three units and the basement.
Key Highlights
- Vinyl‑sided 3‑family home built in 1890 with 1st‑floor owner‑occupied unit and 2nd and 3rd floors vacant
- Hardwood floors and separate utilities for the units
- Full basement provides additional space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.5k | $22.20 |
| − Vacancy | −$3.3k | −$1.22 |
| EGI | $57.1k | $20.98 |
| − OpEx | −$17.1k | −$6.29 |
| NOI | $40.0k | $14.69 |
2,724 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$571.5K
$500.0K – $666.7K
NOI $40,003 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$524.6K
$459.0K – $612.0K
NOI $36,721 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$909.2K
$795.6K – $1.06M
NOI $63,645 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Vinyl-sided three-family with separate utilities, full basement, and off-street parking for three cars.
Where is this triplex located?
The property is located at 188 Vernon Street Worcester, MA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Vinyl‑sided 3‑family home built in 1890 with 1st‑floor owner‑occupied unit and 2nd and 3rd floors vacant; Hardwood floors and separate utilities for the units; Full basement provides additional space
