Investment Analysis — 3 Wallace St

Worcester, MA 01605

Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 3-bedroom in 01605 carries an estimated $2,640/mo in gross rent — about a 4.95% cap rate and $19,784/yr in estimated NOI at the $399,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,608

Style

Single Family

Built

1909

Charming 1909 colonial with character to spare. Gleaming hardwoods run throughout, rooms are bright and generously sized, and the fenced yard gives you the outdoor space you have been looking for. Updated electrical panel and insulation. Upstairs you will find three bedrooms plus a bonus room currently used as a walk-in dressing room, loaded with built-in cabinetry and closet space that any buyer will appreciate. Tucked on a private road in sought-after Burncoat, minutes to Polar Park, restaurants, shopping, theater, UMass Medical, and highway 290. Bring your vision and make it your own.

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 804 sq ft (the lesser of 900 sq ft or half the 1,608 sq ft principal dwelling). Lot size: 3,719 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.