Three-Family Home with Enclosed
For Sale
$699,000
Pending
113 Sterling St, Worcester, MA 01610
Residential Income, Worcester, MA
Property Size3,465 SF
Lot Size0.11 Acres
Days on Market47
Property Features for 113 Sterling St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG-5
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 2
Elementary school
Woodland Academy
Middle school
Dr. Arthur F. Sullivan
High school
South High Community
Directions
Vernon Street to Harlem Street, Left on Sterling Street.
Standard status
Pending
APN
1772623
Size
3,465 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6290
Amenities
enclosed porches
full basement
Building Details
Year built
1915
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 24 at 9:06AM
MLS# 73547025
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-family (triplex) home includes three separate units, each offering two bedrooms, plus an owner’s unit with a bonus room and one full bathroom. The home features hardwood floors throughout much of the interior, and it has enclosed porches along with a full basement.
The property is situated on a 0.1148-acre lot and totals approximately 3,465 square feet. It was built in 1915 and is zoned RG-5.
Conveniently located near shopping, restaurants, public transportation, parks, schools, universities, and major highways, the home supports both investor and owner-occupant use.
First open house is scheduled for Saturday and Sunday from 12:00–2:00 PM.
The property is situated on a 0.1148-acre lot and totals approximately 3,465 square feet. It was built in 1915 and is zoned RG-5.
Conveniently located near shopping, restaurants, public transportation, parks, schools, universities, and major highways, the home supports both investor and owner-occupant use.
First open house is scheduled for Saturday and Sunday from 12:00–2:00 PM.
Key Highlights
- Three‑family (triplex) home with three units
- Each unit has two bedrooms; owner’s unit includes a bonus room
- Hardwood floors throughout much of the home
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,885
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,700
$1.0M
Cap Rate 7%
$726,929
$726.9K
Cap Rate 9%
$565,389
$565.4K
Market Conditions
NOI Build-Up for 3,465 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.9K $22.20/SF
− Vacancy
−$4.2K −$1.22/SF
EGI
$72.7K $20.98/SF
− OpEx
−$21.8K −$6.29/SF
NOI
$50.9K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,700
Cap Rate 7%
$726,929
Cap Rate 9%
$565,389
Alternative Uses
Best Use
Multifamily LT 5
$726.9K
$636.1K – $848.1K
NOI $50,885 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$667.3K
$583.9K – $778.5K
NOI $46,710 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,958 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three units each with two bedrooms plus an owner bonus room, hardwood floors, enclosed porches, and a full basement.
Where is this triplex located?
The property is located at 113 Sterling St Worcester, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑family (triplex) home with three units; Each unit has two bedrooms; owner’s unit includes a bonus room; Hardwood floors throughout much of the home
