The Best Value Properties in Worcester, MA
• • ☕️ 3 min read • By Noah Blumberg •Worcester, Massachusetts is about 50 miles outside of Boston, but is a large, 200,000-person city in its own right. It's another ideal city for investors. Fortune calls Worcester one of the "Best Places to Make Real Estate Investments in 2022". Worcester makes for an attractive target due to its 8.2% expected home price appreciation for 2022. Recent local sales data tells a familiar tale —lower numbers of sales and higher prices. Standard supply and demand forces are at work with low supply and high demand driving prices higher.
The Properties
There are at least 7 universities in Worcester with students in need of housing which may explain the fact that multi-family homes are prevalent at the top of our ranking list. Another reason could be the city's history of being home to immigrant populations and the three-decker houses built for them. There was a long period of economic decline in Worcester before expansion of the biotech and medical industries brought more prosperity to the area. So it's not surprising to see several properties in disrepair near the top of the list. These properties are offered at low prices and have lots of amenities, but they need work.
As-is or "needs work" properties present challenges and opportunities to an investor. Someone seasoned in rehabbing or managing a rehab could do very well for themselves by bringing a real estate property at below market price back to life. With increasing real estate values and rent from multiple tenants, there could be significant upside to buying in Worcester. Of course a buyer would need to perform due diligence before purchasing in order to understand the extent of the work to be done and the prospects for finding renters.
If you're looking for more of a turnkey multi-family property, you may want to look at property #6. The property features a total of 9 rentable bedrooms at a list price of $635,000 which compares favorably with other similar properties.
Here are the top 50 properties. To see them all or get a list for another city, order a custom list!| Median List Price | Median Sqft | Median Lot Size(SqFt) | Median HOA Fee |
|---|---|---|---|
| $399,500 | 1,856 | 5,860 | $303 |
| Score** | Property | ZipX** | Type | Beds | SqFt | Lot Size(sqft) | Price |
|---|---|---|---|---|---|---|---|
| 96.78 | 142 Chandler St | 1.22 | multi family | 6 | 4824 | 3,536 | $144,900 |
| 43.98 | 82 Ingleside Ave | 1.12 | multi family | 12 | 4357 | 10,454 | $419,000 |
| 43.93 | 205 Millbury St | 1.00 | multi family | 18 | 9868 | 9,218 | $1,349,974 |
| 41.96 | 21-21A Barclay St | 1.12 | multi family | 12 | 5000 | 4,220 | $550,000 |
| 26.96 | 12 Maple Tree Ln | 1.15 | single family | 4 | 2150 | 4,369 | $199,900 |
| 24.33 | 20 Wabash Ave | 1.12 | multi family | 9 | 4446 | 8,177 | $635,000 |
| 24.00 | 15 Benefit St | 1.00 | multi family | 6 | 4520 | 11,326 | $550,000 |
| 23.12 | 5 Dayton Pl | 1.22 | multi family | 8 | 3100 | 6,148 | $479,900 |
| 19.95 | 37 Cobblestone Ln Unit 37 | 1.13 | condo | 5 | 3326 | 1 | $374,900 |
| 19.41 | 7 Crown St | 1.22 | single family | 4 | 3205 | 6,019 | $475,000 |
| 19.21 | 38 Elliot St | 1.15 | multi family | 6 | 2764 | 7,732 | $425,000 |
| 18.47 | 17 Roxbury St | 1.22 | single family | 6 | 2595 | 7,500 | $449,900 |
| 18.10 | 343 Park Ave | 1.00 | multi family | 8 | 4080 | 4,791 | $699,900 |
| 16.89 | 21 Coes St | 1.08 | multi family | 6 | 3432 | 5,094 | $645,000 |
| 16.55 | 4 Irene St | 1.08 | multi family | 6 | 3075 | 2,719 | $529,000 |
| 16.08 | 206 Cambridge St | 1.08 | multi family | 5 | 2019 | 3,735 | $349,900 |
| 15.77 | 32 Hemans St | 1.15 | multi family | 8 | 800 | 8,000 | $300,000 |
| 15.52 | 71 Francis St | 1.13 | multi family | 6 | 3444 | 8,100 | $649,900 |
| 14.58 | 61 Sunderland Rd | 1.12 | single family | 3 | 2078 | 22,216 | $349,900 |
| 14.11 | 399 May St | 1.15 | single family | 4 | 2016 | 7,432 | $344,900 |
| 13.52 | 44 Beaconsfield Rd | 1.15 | single family | 3 | 1480 | 23,522 | $300,000 |
| 13.45 | 608-610 Lincoln St-Seattle St | 1.15 | multi family | 6 | 3394 | 30,928 | $849,900 |
| 13.34 | 81 Beaconsfield Rd | 1.15 | single family | 3 | 1896 | 11,761 | $344,900 |
| 13.27 | 681 Millbury St | 1.07 | single family | 3 | 1664 | 5,020 | $250,000 |
| 13.09 | 136 Grandview Ave | 1.08 | single family | 3 | 1450 | 5,000 | $234,900 |
| 13.04 | 11 Gibbs St Unit F83 | 1.07 | condo | 2 | 968 | 1 | $159,900 |
| 12.58 | 46 Dick Dr | 1.22 | single family | 4 | 1944 | 15,246 | $425,000 |
| 12.51 | 18 Creston St | 1.12 | multi family | 6 | 1632 | 5,000 | $385,000 |
| 11.97 | 920 Southbridge St Apt 10 | 1.00 | condo | 2 | 780 | 1 | $150,000 |
| 11.76 | 33 Clifton St | 1.00 | single family | 5 | 1447 | 5,000 | $329,900 |
| 11.09 | 33 Everard St Apt 1 | 1.15 | condo | 2 | 708 | 1 | $132,000 |
| 10.72 | 17 Waban Ave | 1.12 | single family | 4 | 2200 | 3,654 | $489,900 |
| 10.70 | 10 DE Marco Ter | 1.12 | single family | 3 | 2150 | 3,056 | $465,000 |
| 10.70 | 12 DE Marco Ter | 1.12 | single family | 3 | 2150 | 3,056 | $465,000 |
| 10.51 | 3 Mason Ct | 1.00 | single family | 4 | 1568 | 2,000 | $340,000 |
| 10.50 | 48 Tiverton Pkwy | 1.15 | single family | 3 | 1618 | 9,561 | $359,000 |
| 10.41 | 22 Mabelle St | 1.15 | single family | 3 | 2016 | 9,900 | $448,999 |
| 10.14 | 23R Sigel St | 1.00 | multi family | 3 | 1280 | 2,503 | $279,900 |
| 10.00 | 1 Malden Ter | 1.13 | single family | 3 | 1873 | 7,398 | $439,900 |
| 9.95 | 6 Greybert Ln | 1.15 | single family | 3 | 1575 | 6,000 | $369,900 |
| 9.75 | 3 Westport Rd | 1.15 | single family | 3 | 1800 | 7,405 | $409,900 |
| 9.69 | 14 Courtland St | 1.15 | single family | 3 | 1412 | 9,147 | $369,900 |
| 9.67 | 96 May St | 1.15 | single family | 3 | 1320 | 5,359 | $349,900 |
| 9.57 | 22 Bauer St | 1.08 | single family | 3 | 1296 | 6,051 | $290,000 |
| 9.57 | 55 3rd St | 1.15 | single family | 4 | 1584 | 10,890 | $420,000 |
| 9.56 | 7A and 7B Glade St | 1.00 | multi family | 4 | 3040 | 4,992 | $779,900 |
| 9.47 | 2 Tennyson St | 1.00 | single family | 4 | 1704 | 7,800 | $379,900 |
| 9.31 | 133 Puritan Ave | 1.12 | single family | 3 | 1888 | 4,875 | $470,000 |
| 9.17 | 44 Dawson Rd | 1.15 | single family | 3 | 1856 | 14,810 | $449,000 |
| 9.04 | 12 Merchant St | 1.08 | single family | 3 | 1412 | 4,553 | $339,999 |