71 Esther St Worcester, MA 01607
MULTI_FAMILY - Worcester, MA
Property Features for 71 Esther St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RG-5
- Bedrooms
- 10
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bedroom 9, Bathroom 5, Bedroom 7, Bedroom 1, Bedroom 8, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 4, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 10
- Parking
- 4
- Standard status
- Active
- APN
- M:10 B:010 L:00004,1771905
- Size
- 3,000 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8588
Building Details
- Year built
- 1900
- Floors in Building
- 5
- Number of units
- 5
Listing agent Jeff Burk License #453001487 (508) 595-9900
Listing office RE/MAX Vision 25 Union Street, Worcester, MA (508) 595-9900
Listing date Jul 15, 2026
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Investment Insights
Based on property information with market context.
The property is located in Worcester, Massachusetts. Public remarks note convenient access to public parks, a swimming pool, shopping, dining, and major commuter routes, including easy access to highways and the Massachusetts Turnpike.
Zoned RG-5, the asset presents a straightforward income-oriented configuration with updated elements across both buildings.
Key Highlights
- Five‑family investment with 2 buildings on one lot: front has three 2‑bedroom units; rear has two 1‑bedroom units
- Rear building (71 1/2 Esther St) extensive updates: new siding (2024), new roof (2025), replaced sewer line (2023)
- Rear building also includes a poured concrete basement floor (2024) and replacement water heaters
Local Financial Insights For Apartment 5plus
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 | $77.4k | $25.80 |
| − Vacancy | −$3.9k | −$1.29 |
| EGI | $73.5k | $24.51 |
| − OpEx | −$33.1k | −$11.03 |
| NOI | $40.4k | $13.48 |
