127 Institute Rd

Worcester, MA 01602

$1,350,000
Price
14
Beds
5,140 Sq. Ft.
$263 / Sq. Ft.
5,140
Sq. Ft.
$263
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Open: 8/8 01:00PM - 02:00PMNew
Open: 8/8 01:00PM - 02:00PMNew

Description

Exceptional Investment Opportunity in the Heart of the WPI Student Rental Market! Fully renovated 14-bedroom, 5-bath three-decker offering outstanding cash flow and long-term stability. This property underwent a complete, high-end renovation in 2025 with all work professionally permitted and inspected. Major improvements include brand-new kitchens with granite counters, beautifully tiled bathrooms, new flooring throughout, all-new plumbing, electrical and gas heating systems, new water heaters, and...Exceptional Investment Opportunity in the Heart of the WPI Student Rental Market! Fully renovated 14-bedroom, 5-bath three-decker offering outstanding cash flow and long-term stability. This property underwent a complete, high-end renovation in 2025 with all work professionally permitted and inspected. Major improvements include brand-new kitchens with granite counters, beautifully tiled bathrooms, new flooring throughout, all-new plumbing, electrical and gas heating systems, new water heaters, and a complete fire sprinkler system, coin Op laundry system, along with numerous additional upgrades. The property is fully leased to WPI students through Summer 2027, providing immediate, predictable rental income. Situated in one of Worcester's most sought-after student housing locations, this turnkey investment also features a large paved parking lot with ample off-street parking—a highly desirable amenity for students.
  1. Listed by Brian Allen • Property Investors & Advisors, LLC

Property Details for 127 Institute Road

Town
Worcester
Area
MA-Worcester
Garage Spaces
0
Open Parking Spaces
12.00
Parking Spaces Total
12

Open Houses

Saturday, Aug 8th1:00 PM - 2:00 PM
PublicView contact
Sunday, Aug 9th1:30 PM - 2:30 PM
PublicView contact
LISTING UPDATED: 08/03/2026 03:49 PM

Property Details for 127 Institute Road

StatusBack On Market
MLS #73558186
Days on Market1
Taxes$12,859 / year
HOA Fees-
Property TypeMulti Family
MLS TypeMulti-family / 3 Family
Year Built1920
CountyWorcester County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Property Investors & Advisors, LLC, Brian Allen
Add your commute

Building Information for 127 Institute Road

Stories3Residences3Year Built1920Building Size-Lot Size0.14 AC / 6,035 SF

Payment Calculator

Get preapproved with Rocket Mortgage1

$7,933 per month

30 year fixed, 6.55% Interest

Principal and Interest

$6,862

Property Taxes

$1,072

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 127 Institute Road

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation
  • Living Area: 5140.0
  • SqFt with Basement: No
  • Total Units: 3
  • Waterfront: No
  • Year Built Details: Renovated Since
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Full
  • Num of Baths: 5.0
  • Num of Full Baths: 5
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 5.00
  • Bathrooms Total Integer: 5
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Lot Description: Corner Lot
Parking Features
  • Covered Spaces: .00
  • Garage: No
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Disclosures: Buyer and buyer agents to verify all information
Tax Information
  • Assessments: $968,300
  • Book: 72534
  • Tax Year: 2026
  • Zoning: BL-1
Building / Association Information
Living Characteristics
  • Beds Total: 14
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Irregular
  • Levels: 3
Income / Expenses
  • GOI: $130,800.00
  • NOI: $130,800.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 3
  • Levels U3: 1
Rental Info
Rental Info
  • Total Actual Rent: $10,900.00

Property History for 127 Institute Road

DateEvent & SourcePriceAppreciation
Aug 3, 2026

Listed (Active)

MLS PIN #73558186

$1,350,000—
Nov 19, 2024

Sold

MLS PIN #73257939

$700,000—
Jul 25, 2024

Under Agreement

MLS PIN #73257939

—
DateEvent & SourcePrice
08/03/2026

Listed (Active)

MLS PIN #73558186

$1,350,000
11/19/2024

Sold

MLS PIN #73257939

$700,000
07/25/2024

Under Agreement

MLS PIN #73257939

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 127 Institute Road

Taxable ValueLand$129,900Additions$250,200Total$380,100
Tax Record2025$5,014 ($418 / month)
Home Facts
Total Finished SqFt4,680 SqFtAbove Grade Finished SqFt4,680 SqFtUnfinished Basement SqFt1,719 SqFtStories3Lot Size6,035 SqFtStyleOffice BuildingYear Built1920Year Renovated1920ZoningBL-1CountyWORCESTERAPNWORC M:11 B:003 L:00001

Schools near 127 Institute Road

This home is within Worcester School District.
Rating
School
Type
Grades
Distance
Worcester Dual Language Magnet School
Public - PK to 6
Jacob Hiatt Magnet School
Public - PK to 6
Flagg Street School
Public - K to 6
Forest Grove Middle School
Public - 7 to 8
Rating
School
Distance
Worcester Dual Language Magnet School
PublicPK to 6

Jacob Hiatt Magnet School
PublicPK to 6

Flagg Street School
PublicK to 6

Forest Grove Middle School
Public7 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

New listings in 01602

$535,000 | 41 Drexel Street, Worcester, MA 01602
1/39
Open: 8/8 01:00PM - 03:00PMNew

$535,000

4
Bedrooms
1,850
Square Feet
0.62
Acres

41 Drexel Street, Worcester, MA 01602

$499,000 | 30 St Elmo Road, Worcester, MA 01602
1/37

$499,000

3
Bedrooms
1,648
Square Feet
0.23
Acres

30 St Elmo Road, Worcester, MA 01602

$539,000 | 20 Vassar Street, Worcester, MA 01602
1/42
Virtual Tour

$539,000

3
Bedrooms
1,891
Square Feet
0.25
Acres

20 Vassar Street, Worcester, MA 01602

$299,000 | 34 Passway 1, Worcester, MA 01602
1/39

$299,000

2
Bedrooms
725
Square Feet
0.11
Acres

34 Passway 1, Worcester, MA 01602

$399,000 | 58 Bailey Street, Worcester, MA 01602
1/31
Contingent

$399,000

3
Bedrooms
1,200
Square Feet
0.17
Acres

58 Bailey Street, Worcester, MA 01602

a front view of a house with a yard
1/33

$499,900

4
Bedrooms
1,557
Square Feet
0.17
Acres

41 Dellwood Road, Worcester, MA 01602

$450,000 | 2 Biltmore Road, Worcester, MA 01602
1/39
Contingent

$450,000

3
Bedrooms
1,666
Square Feet
0.17
Acres

2 Biltmore Road, Worcester, MA 01602

a aerial view of a house with a yard table and chairs
1/27

$1,149,900

10
Bedrooms
5,371
Square Feet
0.41
Acres

328 Highland Street, Worcester, MA 01602

a front view of a house with garden
1/42

$539,900

3
Bedrooms
1,913
Square Feet
0.14
Acres

70 Swan Avenue, Worcester, MA 01602

Explore Nearby Homes

More information about 127 Institute Road, Worcester, MA 01602

127 Institute Road is a multi-family home for sale in Worcester, MA 01602. This listing's school district is Worcester School District. Nearby schools include Worcester Dual Language Magnet School, Jacob Hiatt Magnet School and Flagg Street School. 127 Institute Road is a 14-bed, 5-bath, 5,140 sqft multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Property Investors & Advisors, LLC, Brian Allen

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. 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., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS 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.