Turn-Key Three-Family
For Sale
$699,900
81 Ward St, Worcester, MA 01610
Updated three-unit property with renovated kitchens, bathrooms, and refreshed interior finishes throughout.
Property Size2,416 SF
Price / SF$289.69
Days on Market190
Property Features for 81 Ward St
General Information
Standard status
Active
Size
2,416 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Zoning
RG-5
Net Operating Income
$69,600
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,112
Building Details
Building Size
2,416 SF
Year Built
1890
Stories
3
Listing Agency:
Nixon Realty Inc.
(508) 889-5529
Listed By:
Ryan Miranda · License #9581554
(508) 577-3620
Source:
Churchillprop
Added: Apr 16
Changed: Oct 16
Last Checked: Oct 20 at 6:11PM
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 Nixon Realty Inc.
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Investment Insights
Based on property information with market context.
This turn-key three-family residence is fully updated and ready for its next owner. The building has undergone major improvements, including new electrical, updated plumbing, new laminate flooring throughout, fresh paint, and new interior doors. Bathrooms feature renovated tiled floors and modern stand-up tiled showers, and both the first-floor and third-floor units include kitchens with granite countertops. Several windows have also been replaced.
Located in Worcester with convenient access to major highways, restaurants, shopping, and public transportation, the property is positioned for everyday practicality.
The asset is configured as three separate residential units and presents as a move-in-ready multi-family option supported by the interior and system upgrades listed.
Located in Worcester with convenient access to major highways, restaurants, shopping, and public transportation, the property is positioned for everyday practicality.
The asset is configured as three separate residential units and presents as a move-in-ready multi-family option supported by the interior and system upgrades listed.
Key Highlights
- Three‑family property built in 1890 with updated interior finishes throughout
- Major improvements include new electrical and updated plumbing
- New flooring with vinyl and laminate installed throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,480
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$709,600
$709.6K
Cap Rate 7%
$506,857
$506.9K
Cap Rate 9%
$394,222
$394.2K
Market Conditions
NOI Build-Up for 2,416 SF
Gross rent
$53.6K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$50.7K $20.98/SF
− OpEx
−$15.2K −$6.29/SF
NOI
$35.5K $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%
$709,600
Cap Rate 7%
$506,857
Cap Rate 9%
$394,222
Alternative Uses
Best Use
Multifamily LT 5
$506.9K
$443.5K – $591.3K
NOI $35,480 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$465.3K
$407.1K – $542.8K
NOI $32,569 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$806.4K
$705.6K – $940.8K
NOI $56,449 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,007
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Updated three-unit property with renovated kitchens, bathrooms, and refreshed interior finishes throughout.
Where is this triplex located?
The property is located at 81 Ward St Worcester, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑family property built in 1890 with updated interior finishes throughout; Major improvements include new electrical and updated plumbing; New flooring with vinyl and laminate installed throughout
