38 Benefit St Worcester, MA 01610
Beacon Brightly NeighborhoodEstimated payment $4,932/month
About This Home
This centrally located value-add 6-unit property at 38 Benefit in Worcester, Massachusetts, consists of four 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units, totaling 5,216 sq. ft. of living space on a 0.11-acre parcel. Each unit is separately metered for heat and electricity, and the owner is responsible for hot water and municipal water & sewer. The property benefits from brand new high efficiency Navien hot water heaters. Three of the six units have been recently renovated featuring new kitchens, updated bathrooms, and new flooring. There is an opportunity to dramatically increase rents in both the renovated units and through targeted upgrades to the remaining unrenovated units as all units are currently TAW. Listed at a 7.95% cap rate, this property represents a strong investment opportunity in the growing Worcester market.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,690
Year Built
- Built in 1900
Lot Details
- 4,920 Sq Ft Lot
- Corner Lot
Home Design
- 5,216 Sq Ft Home
- Stone Foundation
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Full Bathrooms
Parking
- 4 Open Parking Spaces
- 4 Car Parking Spaces
- Off-Street Parking
Additional Features
- Basement
Listing and Financial Details
- Assessor Parcel Number M:06 B:031 L:00010,1767893
Community Details
Overview
- 6 Units
- Property has 1 Level
Building Details
- Electric Expense $660
- Insurance Expense $6,263
- Water Sewer Expense $2,245
- Operating Expense $23,333
- Net Operating Income $78,600
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $5,788 | $438,800 | $27,000 | $411,800 |
| 2024 | $5,196 | $377,900 | $27,000 | $350,900 |
| 2023 | $5,626 | $392,300 | $48,600 | $343,700 |
| 2022 | $5,220 | $343,200 | $40,500 | $302,700 |
| 2021 | $4,514 | $277,300 | $40,500 | $236,800 |
| 2020 | $4,140 | $243,500 | $40,500 | $203,000 |
| 2019 | $4,174 | $231,900 | $44,600 | $187,300 |
| 2018 | $4,251 | $224,800 | $44,600 | $180,200 |
| 2017 | $4,321 | $224,800 | $44,600 | $180,200 |
| 2016 | $4,411 | $214,000 | $40,500 | $173,500 |
| 2015 | $4,084 | $203,500 | $30,000 | $173,500 |
| 2014 | $5,082 | $260,100 | $30,000 | $230,100 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/14/2026 04/14/26 | For Sale | $825,000 | +166.1% | $158 / Sq Ft | |
| 02/02/2019 02/02/19 | Sold | $310,000 | -5.8% | $59 / Sq Ft | View Prior Sale |
| 11/13/2018 11/13/18 | Pending | -- | -- | -- | |
| 08/16/2018 08/16/18 | For Sale | $329,000 | +73.2% | $63 / Sq Ft | |
| 01/06/2014 01/06/14 | Sold | $190,000 | -17.3% | $37 / Sq Ft | View Prior Sale |
| 12/07/2013 12/07/13 | Pending | -- | -- | -- | |
| 09/14/2013 09/14/13 | For Sale | $229,800 | -- | $45 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73501042
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