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    West Side Triplex Near Clark Title is generated by Realmo AI

    121 Winfield Street, Worcester, MA 01602

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    For Sale
    $895,000

    Well-maintained 3-family property in Worcester's desirable West Side.

    Type:Multi-family
    Property size:
    4,151 SF
    Price / SF:
    $215/SF
    Added:
    Mar 21, 2026
    Days on Market:
    78
    Last Refresh:
    Apr 21 at 6:30 am

    Property Features for 121 Winfield Street

    General Information

    Standard status
    Active
    Size
    4,151 SF
    Property subtype
    Multi-family

    Building Details

    Year Built
    1890

    We can help!

    Listing Contact
    Arjun Kunwar

    Listing agent Arjun Kunwar

    Listing office eXp Realty

    Listing date Mar 21, 2026

    Source Stevebremis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty

    HighLights

    • Massive 3‑family property in Worcester's desirable West Side near Clark University.
    • Each unit features 3 beds, 1.5 baths, kitchen, living room, and dining room.
    • All units have central heat, central AC, and tankless hot water boilers.
    • Features granite countertops, hardwood floors, kitchen tile floors, dishwasher, and built‑in microwave in each unit.
    • 6 off‑street parking spaces.
    • All units are de‑leaded with certificates available.

    Overview

    This well-maintained three-family property is located in the desirable West Side of Worcester, near Clark University. The property contains a total of 9 bedrooms and 4.5 bathrooms, with 6 off-street parking spaces available. Each unit features 3 bedrooms, 1.5 bathrooms, a kitchen, a living room, and a dining room. Kitchens are equipped with granite countertops, tile flooring, dishwashers, and built-in microwaves. Hardwood floors are present throughout the units, which also include laundry hookups. All units have central heat and central AC, as well as tankless hot water boilers. Unit 1 currently pays $2175 on a TAW basis, Unit 2 pays $2025 on a TAW basis, and Unit 3 pays $2200 with a lease. The property offers potential for increased rental income. All units are de-leaded, and certificates are available. The property size is 4151 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $92.2k $22.20
    − Vacancy −$5.1k −$1.22
    EGI $87.1k $20.98
    − OpEx −$26.1k −$6.29
    NOI $61.0k $14.69
    4,151 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $870.8K
    $762.0K – $1.02M (±1% cap)
    NOI $60,959 @ 7.0% cap · market cap 6.81%
    Second Best
    Apartment 5plus
    $799.4K
    $699.5K – $932.6K (±1% cap)
    NOI $55,958 @ 7.0% cap · market cap 6.25%
    Theoretical Best
    Office A
    $1.39M
    $1.21M – $1.62M (±1% cap)
    NOI $96,986 @ 7.0% cap · market cap 10.84%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Worcester
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.8237653
    Latitude
    42.2578296

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    FAQs

    What type of property is this?
    Triplex - Well-maintained 3-family property in Worcester's desirable West Side.
    Where is this triplex located?
    The property is located at 121 Winfield Street Worcester, MA.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Massive 3‑family property in Worcester's desirable West Side near Clark University.; Each unit features 3 beds, 1.5 baths, kitchen, living room, and dining room.; All units have central heat, central AC, and tankless hot water boilers.
    We can help!
    Listing Contact
    Arjun Kunwar
    Learn More
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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
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