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    65 Paine St Worcester, MA 01605

    Sponsored
    For Sale
    $599,900

    MULTI_FAMILY - Worcester, MA

    Property size:
    4,815 SF
    Lot size:
    0.17 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 23 at 1:06 am

    Property Features for 65 Paine St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RG-5
    Rooms
    Bedroom 5, Bedroom 6, Bedroom 9, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 7
    Bedrooms
    9
    Bathrooms
    3
    APN
    1770830
    Parking
    3
    Size
    4,815 SF
    Lot size
    0.17 Acres

    Building Details

    Year built
    1880
    Floors in Building
    3
    Number of units
    3

    We can help!

    Listing Contact
    Jeff Burk
    Jeff Burk

    RE/MAX VISION (508) 595-9900

    Listing agent Jeff Burk

    Listing date Feb 16, 2026

    MLS# 73463200 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Worcester Triplex Near Highways

    This three-family home, owned by the same family for many years, is conveniently located near I-190 and 290, local hospitals, Route 70, and 9. Each apartment features a three-bedroom floor plan that could potentially accommodate a fourth bedroom. Private porches are available for each apartment, and the units include hardwood floors, a pantry, and a laundry room located just off the kitchen. The roof was replaced, and the chimneys were repointed and capped in 2011. The front porch has been upgraded with composite decking. Hot water tanks were replaced in 2022-2023. The electrical system has been upgraded to 100 amps per apartment, plus a landlord box. The first and second floors are currently vacant, making it suitable for an owner-occupant or investor. The first and second floors are heated by steam/gas boilers, while the third floor is heated by a gas parlor heater and a gas stove in the kitchen. The property is zoned RG-5 and has a lot size of 0.1722 acres. The property size is 4815 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.794064
    Latitude
    42.282036

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    FAQs

    What type of property is this?
    Triplex - Three-family home near I-190 and 290 with upgraded features.
    Where is this triplex located?
    The property is located at 65 Paine St Worcester, MA.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: - Vacant first and second floors ideal for owner-occupancy or immediate rental income.; - Upgraded electrical system with 100 amps per apartment plus landlord box.; - Convenient location near I-190, 290, hospitals, Route 70, and Route 9.
    (508) 826-3301
    Request Owner's contact information
    65 Paine St Worcester, MA 01605
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    Worcester, MA 01605
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    65 Paine St Worcester, MA 01605
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    We can help!
    Listing Contact
    Jeff Burk
    Jeff Burk
    Real Estate License ID: 453001487
    (508) 826-3301 (508) 595-9900
    Learn more
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