Updated Triplex with
For Sale
$675,000
27 Rodney St, Worcester, MA 01605
Residential Income, Worcester, MA
Property Size3,111 SF
Lot Size0.14 Acres
Price / SF$216.97
Days on Market10
Property Features for 27 Rodney St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 9, Bathroom 1, Bathroom 3, Bedroom 8, Bedroom 4, Bedroom 2
Directions
Belmont st to Rodney st
Standard status
Active
APN
M:16 B:007 L:00038,1777944
Size
3,111 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6683
Amenities
in-unit laundry
front porches
rear porches
Building Details
Year built
1893
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vision · RE/MAX International
(508) 595-9900
Listed By:
Jeff Burk · License #9035530
(508) 826-3301
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 27 at 12:06PM
MLS# 73579704
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,111-square-foot triplex, built in 1893, contains three three-bedroom apartments. Each unit includes a large eat-in kitchen with a galley prep area, a substantial living room, high ceilings, newer flooring, updated kitchen finishes, and in-unit laundry. Front and rear porches extend the usable space, with the rear opening toward a private backyard. Heat and electric are separately metered, and the property is zoned RG-5.
The building is at 27 Rodney St in Worcester's Bell Hill neighborhood, near UMass Memorial Medical Center. Route 9 is nearby, with access to I-290, I-190, Route 146, the Mass Pike, and public transit. The 0.1368-acre property combines a three-unit layout with outdoor areas and city-facing views.
The building is at 27 Rodney St in Worcester's Bell Hill neighborhood, near UMass Memorial Medical Center. Route 9 is nearby, with access to I-290, I-190, Route 146, the Mass Pike, and public transit. The 0.1368-acre property combines a three-unit layout with outdoor areas and city-facing views.
Key Highlights
- Three 3‑bedroom apartments in a 3,111‑square‑foot triplex
- Built in 1893; zoned RG‑5
- Updated kitchens, newer floors, high ceilings, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,686
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$913,720
$913.7K
Cap Rate 7%
$652,657
$652.7K
Cap Rate 9%
$507,622
$507.6K
Market Conditions
NOI Build-Up for 3,111 SF
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.
Gross rent
$69.1K $22.20/SF
− Vacancy
−$3.8K −$1.22/SF
EGI
$65.3K $20.98/SF
− OpEx
−$19.6K −$6.29/SF
NOI
$45.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$913,720
Cap Rate 7%
$652,657
Cap Rate 9%
$507,622
Alternative Uses
Best Use
Multifamily LT 5
$652.7K
$571.1K – $761.4K
NOI $45,686 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$599.1K
$524.2K – $699.0K
NOI $41,938 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$1.04M
$908.6K – $1.21M
NOI $72,687 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three spacious apartments offer eat-in kitchens, in-unit laundry, separate utilities, and access to shared outdoor areas.
Where is this triplex located?
The property is located at 27 Rodney 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: Three 3‑bedroom apartments in a 3,111‑square‑foot triplex; Built in 1893; zoned RG‑5; Updated kitchens, newer floors, high ceilings, and in‑unit laundry
