
48 Water St #405 Worcester — Photo 1 of 19
$319,000
Investment Analysis — 48 Water St #405
Worcester, MA 01604
Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 1-bedroom in 01604 carries an estimated $1,750/mo in gross rent — about a 1.72% cap rate and $5,493/yr in estimated NOI at the $319,000 list price. Adjust every assumption in the calculator below.
Beds
1
Baths
1.5
SqFt
871
Style
Condominium
Built
1890
Urban loft living in the heart of Worcester's Canal District. This distinctive condo at 48 Water Street pairs historic character with an open, modern layout, featuring exposed brick, oversized windows and soaring ceilings. The open concept living and kitchen area offer plenty of room to entertain, while the loft style bedroom adds to the character that makes this home anything but ordinary. In-unit laundry and deeded parking space adds to the ease of city living. Monthly condo fee includes heat/cooling, hot water, water/sewer, master insurance, landscaping and more-leaving only electricity and internet to the owner. And perhaps the best amenity may be what's waiting just outside your door. Start your morning at a neighborhood cafe, browse Crompton Collective, grab lunch at the Worcester Public Market, catch a WooSox game at Polar Park, or enjoy dinner and drinks- all just moments from home. With easy access to downtown, major routes and everything the Canal District has to offer. Unit 405 delivers a lifestyle as unique as the space itself.
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 MLS and other third-party data may be inaccurate or out of date.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.
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Laundromat
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstOpen Floorplan, Lighting - Overhead
Kitchen
Lvl FirstCountertops - Stone/Granite/Solid, Kitchen Island, Open Floorplan, Stainless Steel Appliances, Closet - Double
Primary Bedroom
Lvl SecondFlooring - Wall to Wall Carpet, Lighting - Overhead
Bathroom 1
Lvl FirstBathroom - Half
Bathroom 2
Lvl SecondBathroom - With Shower Stall, Bathroom - With Tub
Property History
$319,000
Sep 23, 2026
MLS® 73582022
$330,000
Sep 9, 2026
MLS® 73529425
$2,050
Aug 8, 2026
MLS® 73561041
$330,000
Jun 3, 2026
MLS® 73529425
Listing Agent: Alyssa Coyle
Listing Office: William Raveis R.E. & Home Services
MLS® Number: 73582022