Three-Family with Detached
For Sale
$795,000
76 Paine Street, Worcester, MA 01605
Three-family income property with off-street parking, a two-car detached garage, and a yard for outdoor use.
Property Size4,091 SF
Price / SF$194.33
Days on Market46
Property Features for 76 Paine Street
General Information
Standard status
Active
Size
4,091 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1904
Stories
3
Listing Agency:
Results Realty
Listed By:
The APEX Team
(413) 584-2900
Source:
Mapleandmainrealty
Added: Jul 11
Changed: Aug 24
Last Checked: Aug 24 at 6:47AM
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 Results Realty
Investment Insights
Based on property information with market context.
This three-family home offers a total residential setup designed for both investor and owner-occupant flexibility. The property includes off-street parking and a two-car detached garage, along with a yard area for outdoor sitting or entertaining. While the home is described as a bit dated and in need of freshening up, the unit layouts feature large bedrooms and large living rooms in all three units.
The first floor is easy to show as the occupant has already moved out. The first-floor bathroom is handicap accessible. Heating is provided by forced hot water on the first floor, while the second and third floors use central heat. The current rents are noted as below market.
Showings for the full house are available only during open houses due to tenants. Open houses are scheduled for Saturday 7/25 and Sunday 7/26 from 11:00 AM to 1:00 PM.
The first floor is easy to show as the occupant has already moved out. The first-floor bathroom is handicap accessible. Heating is provided by forced hot water on the first floor, while the second and third floors use central heat. The current rents are noted as below market.
Showings for the full house are available only during open houses due to tenants. Open houses are scheduled for Saturday 7/25 and Sunday 7/26 from 11:00 AM to 1:00 PM.
Key Highlights
- Three‑family home built in 1904 with large bedrooms and large living rooms in all 3 units
- Off‑street parking plus a two‑car detached garage for parking, storage, or a small workshop
- Includes a yard area for outdoor entertaining or sitting outside
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
$60,078
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
7.56%
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%
$1,201,560
$1.2M
Cap Rate 7%
$858,257
$858.3K
Cap Rate 9%
$667,533
$667.5K
Market Conditions
NOI Build-Up for 4,091 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
$90.8K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$85.8K $20.98/SF
− OpEx
−$25.7K −$6.29/SF
NOI
$60.1K $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%
$1,201,560
Cap Rate 7%
$858,257
Cap Rate 9%
$667,533
Alternative Uses
Best Use
Multifamily LT 5
$858.3K
$751.0K – $1.00M
NOI $60,078 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$787.8K
$689.4K – $919.2K
NOI $55,149 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,584 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,542
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family income property with off-street parking, a two-car detached garage, and a yard for outdoor use.
Where is this triplex located?
The property is located at 76 Paine Street Worcester, MA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three‑family home built in 1904 with large bedrooms and large living rooms in all 3 units; Off‑street parking plus a two‑car detached garage for parking, storage, or a small workshop; Includes a yard area for outdoor entertaining or sitting outside
