Sharon Ridley
StartPoint Realty
(774) 479-4424
97 Total Sales
1 in Union HIll
$525,000 Price
5 Palm St Worcester, MA 01604
Union HIll Neighborhood
8
Beds
7.5
Baths
5,600
Sq Ft
0.26
Acre Lot
Highlights
- Medical Services
- Property is near golf course, public transit, and schools
- Corner Lot
- 0.26 Acre Lot
- Wood Flooring
- Enclosed Patio or Porch
About This Home
As of August 2023Incredible investment opportunity! Rare, well maintained 7 unit property with just under an 8% cap rate and a monthly rent roll of $9,900 with room for growth. (4) 1-bedroom units, (2) 2-bedroom units, (1) 2 story 2-bedroom cottage 9230 square feet on .26 acre lot. All units are separately metered and tenants pay their own utilities. The location is hard to beat being minutes to all major highways, the train station, airport, restaurants, shopping, hospitals, colleges/universities and Polar Park making it an ideal location for all tenants and for APPRECIATION! Group showing Sunday June 4th 11am-2pm. Investors, you won’t want to miss this!** View Offer Memorandum in attached documents for further details.
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $11,423
Year Built
- Built in 1925
Lot Details
- 11,357 Sq Ft Lot
- Corner Lot
Home Design
- Stone Foundation
- Frame Construction
- Shingle Roof
Interior Spaces
- 5,600 Sq Ft Home
- Property has 1 Level
- Basement Fills Entire Space Under The House
- Washer Hookup
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 8 Bedrooms
Parking
- 2 Car Parking Spaces
- Open Parking
- Off-Street Parking
Outdoor Features
- Enclosed Patio or Porch
- Outdoor Storage
Location
- Property is near golf course, public transit, and schools
Utilities
- Natural Gas Connected
- Gas Water Heater
Listing and Financial Details
- Total Actual Rent $9,900
- Assessor Parcel Number M:18 B:003 L:00196,1780074
Community Details
Overview
- 7 Units
Amenities
- Medical Services
- Shops
Building Details
- Electric Expense $600
- Insurance Expense $4,800
- Water Sewer Expense $3,032
- Operating Expense $22,355
- Net Operating Income $92,881
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 29, 2023
Closed on
Aug 3, 2023
Sold by
Bought by
Seller's Agent
Benjamin Carbone
Lamacchia Realty, Inc.
Buyer's Agent
George Bahnan
Bahnan Realty Company
List Price
$1,200,000
Sold Price
$1,070,000
Premium/Discount to List
-$130,000
-10.83%
Views
68
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$856,000
Outstanding Balance
$827,164
Interest Rate
6.67%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Nov 23, 2022
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$670,500
Interest Rate
7.08%
Mortgage Type
Commercial
Purchase Details
Closed on
May 10, 2017
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$337,500
Interest Rate
4.14%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 4, 2007
Sold by
Bought by
Purchase Details
Closed on
May 14, 2004
Sold by
Bought by
Purchase Details
Closed on
Feb 18, 2000
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Union HIll, MA
-
Sharon Ridley
-
Carrie Abysalh
Carrie Abysalh
RE/MAX Prof Associates
(774) 541-2667
62 Total Sales
1 in Union HIll
$551,000 Price
-
Elvis Santana
Elvis Santana
Circle 100 Real Estate
(774) 806-8764
94 Total Sales
1 in Union HIll
$747,000 Price
-
Jose Frias
Jose Frias
Responds QuicklyRealty ONE Group Nest
(351) 215-0157
129 Total Sales
2 in Union HIll
$165K - $225K Price Range
-
Matheus Goncalves
Matheus Goncalves
Mega Realty Services Inc
(508) 761-1925
164 Total Sales
1 in Union HIll
$645,000 Price
-
Liana Williams
Liana Williams
Fort Hill Brokerage Group
(857) 349-2040
49 Total Sales
1 in Union HIll
$540,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,070,000 | None Available | ||
| $894,000 | None Available | ||
| $450,000 | -- | ||
| -- | -- | ||
| $315,000 | -- | ||
| $125,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $856,000 | ||
| Previous Owner | $670,500 | ||
| Previous Owner | $410,000 | ||
| Closed | $337,500 | ||
| Previous Owner | $10,000 | ||
| Closed | $175,000 | ||
| Closed | $20,000 | ||
| Previous Owner | $30,000 | ||
| Previous Owner | $165,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/04/2023 08/04/23 | Sold | $1,070,000 | -10.8% | $191 / Sq Ft |
| 06/06/2023 06/06/23 | Pending | -- | -- | -- |
| 05/29/2023 05/29/23 | For Sale | $1,200,000 | -- | $214 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $13,545 | $1,026,900 | $131,300 | $895,600 |
| 2024 | $11,546 | $839,700 | $47,300 | $792,400 |
| 2023 | $11,423 | $796,600 | $29,600 | $767,000 |
| 2022 | $10,601 | $697,000 | $24,700 | $672,300 |
| 2021 | $8,995 | $552,500 | $24,700 | $527,800 |
| 2020 | $7,166 | $421,500 | $24,700 | $396,800 |
| 2019 | $7,225 | $401,400 | $23,600 | $377,800 |
| 2018 | $7,373 | $389,900 | $23,600 | $366,300 |
| 2017 | $6,610 | $343,900 | $23,600 | $320,300 |
| 2016 | $7,514 | $364,600 | $50,400 | $314,200 |
| 2015 | $7,089 | $353,200 | $39,000 | $314,200 |
| 2014 | $6,902 | $353,200 | $39,000 | $314,200 |
Source: Public Records
Agents Affiliated with this Home
-
Benjamin Carbone
Seller's Agent in 2023
Benjamin Carbone
Lamacchia Realty, Inc.
(860) 382-6184
1 in this area
88 Total Sales
-
Brooke Coughlin
Seller Co-Listing Agent in 2023
Brooke Coughlin
Lamacchia Realty, Inc.
(508) 612-0821
1 in this area
219 Total Sales
-
George Bahnan
Buyer's Agent in 2023
George Bahnan
Bahnan Realty Company
(508) 635-7758
2 in this area
21 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73115091
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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