31 North Street Worcester, MA 01605
Three-family building with 2022 interior updates, including new kitchens, baths, and appliances.
Property Features for 31 North Street
General Information
- Standard status
- Active
- Size
- 2,244 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing office Property Investors & Advisors,LLC
Listing date Jul 11, 2026
Source Campionre
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All listing content including descriptions, pricing, images are the copyrighted material of Property Investors & Advisors,LLC
Investment Insights
Based on property information with market context.
The property is located in Worcester’s Poet Hill neighborhood, about 0.2 miles from Trolley Yard, with access to downtown and nearby colleges and major hospitals.
The building’s configuration supports separate living arrangements across three units, with climate control provided on each level.
Key Highlights
- 3‑family building built in 1910 with updated interiors
- Units redone in 2022 with new kitchens, baths, and appliances
- Mini‑splits on each floor for heat/AC
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 | $49.8k | $22.20 |
| − Vacancy | −$2.7k | −$1.22 |
| EGI | $47.1k | $20.98 |
| − OpEx | −$14.1k | −$6.29 |
| NOI | $33.0k | $14.69 |
