Multifamily Building with Private
New
For Sale
$675,000
1 Wayne St, Worcester, MA 01603
Three levels of residential space include hardwood-floored bedrooms and a walk-in shower.
Property Size2,913 SF
Lot Size0.09 Acres
Price / SF$231.72
Days on Market2
Property Features for 1 Wayne St
General Information
Standard status
Active
Size
2,913 SF
Lot size
0.09 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,133
Building Details
Building Size
2,913 SF
Year Built
1890
Stories
3
Units
3
Listing Agency:
Realty Negotiations, LLC
Listed By:
Olivia Grabka
(978) 842-9485
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 1:55PM
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 Realty Negotiations, LLC
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Investment Insights
Based on property information with market context.
This three-story multifamily property in Worcester contains 2,913 square feet and was built in 1890. Interior details include hardwood floors in the bedrooms, a walk-in shower, and a kitchen with wainscoting and a wood accent wall. A private yard is set on the 4,000-square-foot lot.
The property is at 1 Wayne St. Its Walk Score is 78, its Bike Score is 51, and its Transit Score is 38.
The property is at 1 Wayne St. Its Walk Score is 78, its Bike Score is 51, and its Transit Score is 38.
Key Highlights
- 2,913‑square‑foot, three‑story multifamily property
- Built in 1890 on a 4,000‑square‑foot lot
- Private yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,269
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,380
$785.4K
Cap Rate 7%
$560,986
$561.0K
Cap Rate 9%
$436,322
$436.3K
Market Conditions
NOI Build-Up for 2,913 SF
Gross rent
$75.2K $25.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$71.4K $24.51/SF
− OpEx
−$32.1K −$11.03/SF
NOI
$39.3K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,380
Cap Rate 7%
$560,986
Cap Rate 9%
$436,322
Alternative Uses
Best Use
Apartment 5plus
$561.0K
$490.9K – $654.5K
NOI $39,269 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$972.3K
$850.8K – $1.13M
NOI $68,061 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Explore this area
Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three levels of residential space include hardwood-floored bedrooms and a walk-in shower.
Where is this multifamily property located?
The property is located at 1 Wayne St Worcester, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,913‑square‑foot, three‑story multifamily property; Built in 1890 on a 4,000‑square‑foot lot; Private yard
