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$610,000
● Multifamily - Off Market

59 Vale

Worcester, MA
bedrooms
9 Beds
bathrooms
3 Baths
square feet
4,512 Ft²
$647,709
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model

About This Property

MONEY MAKER!! Turn key building with property management company in place. This is an easy one to own - the necessary repairs have been done over the past year. Three large 3-bedroom apartments fully rented with LONG term tenants (6 to 23 years!) who take pride in their home!TAW.  $4306 total rental income monthly is under market value.Apt 2 and 3 have been approved for increase in rent to $1761 as of Oct 2022.  Right near Worcester Academy in an area of other well-maintained investment properties. Just minutes from the Canal district and WOO SOX stadium. GROUP SHOWING SAT SEPT 17TH 4-5 PM . $3,000 BUYER AGENCY BONUS if closed before 10/15/22.
Unit Size
4,512 Ft²
Days on Market
-
Land Size
0.13 acres
Price per sqft
$137
Property Type
Multifamily
Property Taxes
$589
HOA Dues
-
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 years ago (MLSPIN #73027641)

Price History

Date / Event Date Event Price
Oct 28, 2022 Sold
Premium
Sold
Sep 27, 2022 In contract -
In contract
Sep 27, 2022 Price Decreased $619,000
↓ $10K (1.6%)
Price Decreased
Sep 27, 2022 Relisted $629,000
Relisted
Sep 22, 2022 In contract -
In contract
Show More

Property Highlights

Parking Available
Parking Details
Has Garage
Parking Features: Paved Drive, Off Street, Paved
Garage Spaces: 2
Interior Details
Full Bathrooms: 3
Appliances: Range, Refrigerator, Unit 1(Range, Refrigerator), Unit 2(Range, Refrigerator), Unit 3(Range), Gas Water Heater
Flooring Type: Wood, Tile, Carpet
Rooms: 18
Basement: Full
Exterior Details
Year Built Source: Public Records
Year Built Details: Approximate
PropertySubType: 3 Family - 3 Units Up/Down
Stories (Total): 6
Building Area Units: Square Feet
Window Features: Insulated Windows, Screens
Patio and Porch Features: Porch
Lead Paint: Unknown
Lot Features: Level
Lot Size Area: 0.13
Lot Size Units: Acres
Lot Size Acres: 0.13
Zoning: RG-5
Parcel Number: 1793801
Water Source: Public
Financial Details
Tax Assessed Value: $464,500
Tax Annual Amount: $7,065
Utilities Details
Cooling Type: None
Heating Type: Central, Natural Gas, Electric
Sewer : Public Sewer

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Listed By

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Last Updated: 4 years ago
Data Source: MLS PIN, MLS# 73027641
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