Building Details

Year Built 1890

Listing Agency: Coldwell Banker Realty - Worcester

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

Source: Parksquarerealty

Added: Oct 11 Changed: Oct 16 Last Checked: Oct 16 at 8:56AM

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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

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Investment Insights

Based on property information with market context.

This 3,586-square-foot triplex contains three apartments, each with two bedrooms and a private back porch overlooking Gaskill Field. Interiors have been freshly painted, and the hardwood floors have been refinished. The property also has replacement windows and updated circuit breakers. Heating varies by floor: the first level uses gas forced air, while the upper two levels use electric heat. Built in 1890, the building includes off-street parking.

The property is at 107 Vernon Street in Worcester, near restaurants, grocery stores, shopping, and Vernon Hill Park. WooSox Stadium and the Canal District are also a short distance away.

Key Highlights

• Three apartments, each with two bedrooms and its own back porch
• 3,586 square feet; built in 1890
• Back porches overlook Gaskill Field

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

Is this asking price fair?

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

Current Use

Triplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Acupuncture Computer & Electronic Repair (Bike/Boat/Book/etc) Store Pharmacy

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

681

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

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Frequently Asked Questions

What type of property is this?

Triplex - Three two-bedroom apartments feature refinished hardwood floors, replacement windows, and off-street parking.

Where is this triplex located?

The property is located at 107 Vernon Street 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 two bedrooms and its own back porch; 3,586 square feet; built in 1890; Back porches overlook Gaskill Field