38-40 Morse Ave Ware — Photo 1 of 35
$465,000
Investment Analysis — 38-40 Morse Ave
Ware, MA 01082
Based on rent reported on the MLS listing, a 4-unit multi-family in 01082 carries $4,090/mo in gross rent — about a 7.10% cap rate and $33,024/yr in estimated NOI at the $465,000 list price. Adjust every assumption in the calculator below.
Beds
7
Baths
4
SqFt
3,384
Style
4 Family
Built
1890
This four-family property features three 2-bedroom units and one 1-bedroom unit with a mudroom/three-season room, and all 4 units are currently occupied, providing immediate rental income. Three of the four units offer convenient washer and dryer hookups, adding appeal for tenants. Additional income potential comes from the large, fully rented garage, plus the third floor is currently rented for storage with the possibility of finishing the space for even greater revenue (buyer to perform due diligence). Situated on a dead-end street with sidewalks, off-street parking, and a large yard with perennial flowers and a stream, this property offers an attractive setting for tenants. A rare opportunity to own an income-producing property with multiple avenues for possible growth. The owner pays water/sewer, refuse removal, landscaping, snow removal, and common area electricity. Note: Additional rent is paid by tenants for the garage and 3rd-floor storage space beyond their monthly rent.
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 MLS and other third-party data may be inaccurate or out of date.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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
None • Range • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Medical Facility • Laundromat • House of Worship • Public School
Geography
Property History
$465,000
Jun 30, 2026
MLS® 73543390
$145,000
Dec 15, 2010
MLS® 71096493
$145,000
Jun 16, 2010
MLS® 71096493
Listing Agent: Tracy Larosa
Listing Office: Daisy Hill Real Estate and Rentals
MLS® Number: 73543390