51 May Street, Worcester, MA 01610
Multifamily property near Clark University with updated units and utilities.
- Added:
- Mar 10, 2026
- Days on Market:
- 91
- Last Refresh:
- Apr 21 at 6:36 am
Property Features for 51 May Street
General Information
- Standard status
- Active
- Size
- 3,050 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1890
Listing agent Kelly A. Nelson
Listing office Blue Sky Realty
Listing date Mar 10, 2026
Source Stevebremis
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 Blue Sky Realty
HighLights
- Recent Roof & Heating Systems: Significant updates reduce maintenance concerns.
- Strong Rental History with Room to Increase Rent: Provides immediate income.
- All Separate Utilities + Landlord Meter: Simplifies expense management.
- Expanded Parking: Addresses a common tenant need and adds value.
- Fully Lead Compliant: Ensures safety and avoids potential legal issues.
- Convenient Location: Close to major conveniences, highway, university, train, and medical center.
Overview
Local Financial Insights For Apartment 5plus
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 | $78.7k | $25.80 |
| − Vacancy | −$3.9k | −$1.29 |
| EGI | $74.8k | $24.51 |
| − OpEx | −$33.6k | −$11.03 |
| NOI | $41.1k | $13.48 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.8201938
- Latitude
- 42.2561085
