188 Vernon Street Worcester, MA 01607
MULTI_FAMILY - Worcester, MA
Property Features for 188 Vernon Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RG-5
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
- 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 agent Sarah Gustafson (508) 754-3020
Listing office Keller Williams Pinnacle Central 67 Millbrook Street, Suite 422, Worcester, MA (508) 754-3020
Listing date Jul 14, 2026
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Investment Insights
Based on property information with market context.
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
Local 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 |
