Building Details

Building Size 3,586 SF

Year Built 1890

Buildings 1

Listing Agency: Coldwell Banker Realty - Worcester Show Phone

Listed By: Van Khanh Nguyen · License #9044684 Show Phone

Source: Iverty

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 14 at 10:35PM

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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 Coldwell Banker Realty - Worcester

Investment Insights

Based on property information with market context.

This Worcester multifamily building contains three apartments, each with two bedrooms, for a total of 3,586 square feet. Interior features include newly painted walls, refinished hardwood flooring, replacement windows and upgraded circuit breakers. Each apartment has its own rear porch overlooking Gaskill Field, and off-street parking is available. The first-floor unit uses gas forced-air heat; the second- and third-floor units have electric heat. The property was built in 1890 and is zoned RG5.

The building is near the WooSox stadium, the Canal District, Vernon Hill Park, local restaurants, grocery stores and shopping. Its three-unit layout and distinct heating systems are useful details for evaluating the property’s operation and configuration.

Key Highlights

• Three apartments, each with 2 bedrooms
• 3,586 square feet; built in 1890
• RG5 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,661

Cap Rate

8.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,053,220 $1.1M

Cap Rate 7%

$752,300 $752.3K

Cap Rate 9%

$585,122 $585.1K

Market Conditions

NOI Build-Up for 3,586 SF

Gross rent

$79.6K $22.20/SF

− Vacancy

−$4.4K −$1.22/SF

EGI

$75.2K $20.98/SF

− OpEx

−$22.6K −$6.29/SF

NOI

$52.7K $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 Rate 5%

$1,053,220

Cap Rate 7%

$752,300

Cap Rate 9%

$585,122

Alternative Uses

Best Use

Multifamily LT 5

$752.3K

$658.3K – $877.7K (±1% cap)

NOI $52,661 @ 7.0% cap · market cap 8.10%

Second Best

Apartment 5plus

$690.6K

$604.3K – $805.7K (±1% cap)

NOI $48,341 @ 7.0% cap · market cap 7.44%

Theoretical Best

Office A

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,785 @ 7.0% cap · market cap 12.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Accounting Firm Skin Care Clinic Catering Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

867

Businesses Nearby

Explore this area Business Placement

Demographics for 01610, MA

28,717

Population

10,263

Households

2.8

Avg Household Size

28

Median Age

18%

College-Educated

74%

High-School Grad

2.1 sq mi

ZIP Area

13,675

Density / Sq Mi

$43,757

Median Household Income

$22,978

Median Earnings

$1,339

Median Rent

$279,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units each include a private rear porch facing Gaskill Field.

Where is this triplex located?

The property is located at 107 Vernon St Worcester, MA.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Three apartments, each with 2 bedrooms; 3,586 square feet; built in 1890; RG5 zoning