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56 Paine Street, Worcester MA 01605

Worcester, MA 01605
$595,000
Est. $3,688/month
7
Beds
3
Baths
2,956
Sq Ft
$201
Price/Sq Ft
0.10
Acres
1896
Year Built
5
Parking
12 hours 21 minutes
Time on Market
Active Listed Jul 7, 2026 • MLS# 73545758 Copied! • Updated Jul 7, 2026

About this home

Incredible investment opportunity in the heart of Worcester! This prime 3-unit multi-family property is a stellar addition to any real estate portfolio or the perfect setup for an owner-occupant. The property features a highly rentable layout, boasting two spacious units with 3 bedrooms and 1 full bathroom each, capped off by a bright top-floor unit offering 2 bedrooms and 1 full bathroom. Ample off street parking and on-site coin-op laundry available for tenants! Situated in an amazing, central location, tenants and owners alike will love the effortless commuter access to numerous major routes, paired with the ultimate convenience of being just minutes away from Worcester’s vibrant local restaurants, cafes, and shops. Whether you want to collect strong stable rents or live in one unit while building equity, this versatile multi-family is ready to help you grow your portfolio. Don't miss out!

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Property History

Property Timeline

🏠
Listed for Sale
Jul 7, 2026
$595,000
Original listing
Agent: The Balestracci Group Office: Lamacchia Realty, Inc.

Tax History

Year Taxes Assessment
2025 $5,747 $435,700

Financial Details

Annual Property Tax
$5,747
Tax Year 2025
Assessed Value
$435,700

Facts & Features

Home Facts

Type Residential Income
Style 3 Family - 3 Units Up/Down
Year Built 1896
Living Area 2,956 sq ft
Lot Size 0.10 acres
Bedrooms 7
Full Baths 3
Total Rooms 14

Investment Metrics

Units 3
Unit 1 Rent $1,750/mo · Y
Unit 2 Rent $1,750/mo · N
Unit 3 Rent $1,250/mo · Y
Total Monthly Rent $4,750/mo
Gross Income $57,000
Net Operating Income $57,000
Cap Rate 9.58%
Heating Baseboard, Natural Gas
Cooling None
Flooring Tile, Hardwood, Stone/ceramic Tile, Carpet
Appliances None
Fireplace None
Basement Full, Concrete, Unfinished
Laundry Washer Hookup
Features Bathroom With Tub & Shower, Ceiling Fan(s), Living Room, Kitchen
Construction Conventional (2x4-2x6)
Architecture None
Roof Shingle, Other
Features Rain Gutters
Pool None
Spa None
Fencing None
Patio/Porch Porch
Features Paved Drive, Paved
Total Spaces 5
Electric Circuit Breakers, 100 Amp Service
Water Public
Sewer Public Sewer
Gas None
Other For Gas Range, Washer Hookup

Financial

Annual Tax $5,747
Assessed Value $435,700
Fee Includes None
Amenities None
Optional Fee Includes None
Seller Disclosures Buyers/buyers Agents To Do Due Diligence.some Photos May Be Virtually Enhanced. By Viewing/entering This Property, You Consent To Audio/video Surveillance. Water/sewer Included In Rent-tenants Pay Gas & Electric.coin-op Laundry Is Leased.all Appliances Outside Of Tenant Appliances & Laundry Included
Exclusions Tenant Owned Appliances, Laundry Machines
Possession None
Accepted Financing None
Structure Type []
House Color Beige
Sq Ft Source Public Record
Sq Ft Disclosures Measurements are approx.
Documents None
County Worcester

Property Overview

Property Type
3 Family - 3 Units Up/Down
Listing Type
For Sale
Year Built
1896
Bedrooms
7
Full Bathrooms
3
Living Area
2,956 sq ft
Total Rooms
14
Stories
6
Levels
6

Room Details

Other Floor

Bathroom1
Bedroom5
Bedroom4
Bedroom3
Dining Room
Kitchen
Bathroom2
Bedroom2
Living Room
Bathroom3
Master Bedroom
Office
Family Room
Master Bathroom

Interior Features

Flooring: Tile, Hardwood, Stone/Ceramic Tile, Carpet
Appliances:
Interior Features: Bathroom With Tub & Shower, Ceiling Fan(s), Living Room, Kitchen
Windows: Insulated Windows
Basement: Full, Concrete, Unfinished
Laundry: Washer Hookup
Security:

Construction & Materials

Year Built: 1896
Structure Type:
Exterior Materials: Conventional (2x4-2x6)
Roof: Shingle, Other
Foundation: Stone
Stories: 6

Heating, Cooling & Utilities

Heating: Baseboard, Natural Gas
Heating Zones: 3
Cooling: None
Hot Water: Natural Gas, Tank
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

Exterior Features: Rain Gutters
Patio & Porch: Porch
Fencing:
Other Structures:
Lot Features: Corner Lot
Road Surface: Paved

Parking & Garage

Total Parking Spaces: 5
Parking Features: Paved Drive, Paved
School District
Worcester School District local
C-
🎓 Where Graduates Go Class of 2021
51% attend college
35% 4-Year 16% 2-Year 4% Out of State 4% Working
School Safety 2024-25
4.1% Above Average
3.3% Suspensions 1.7% In-School 0.8% Emergency
1.4% below state avg
E

Elementary Schools

3 schools
Summit Academy School for Alternative Learners
0.7 mi
Grades K-12
F
Wawecus Road School
0.7 mi | #802 of 824 | Score: 27.7
Dropped 53 spots from last year
-30.5 below state avg
155 students Very Diverse
Diverse Student Body
Grades K-06
C-
Belmont Street Community School
0.7 mi | #720 of 824 | Score: 34.1
Dropped 111 spots from last year
-24.1 below state avg
615 students Diverse
Diverse Student Body Strong Attendance
Grades PK-06
M

Middle Schools

3 schools
The Nativity School of Worcester
0.5 mi
Grades 05-08
C+
Forest Grove Middle School
1.1 mi | #229 of 352 | Score: 38.3
Improved 91 spots from last year
-19.9 below state avg
839 students Diverse
Rising School Diverse Student Body
Grades 07-08
C+
Burncoat Middle School
1.1 mi | #233 of 352 | Score: 37.9
Improved 48 spots from last year
-20.3 below state avg
720 students Diverse
Rising School Diverse Student Body
Grades 07-08
H

High Schools

3 schools
A+
Massachusetts Academy of Math and Science at WPI
0.5 mi | #2 of 346 | Score: 91.7
Same rank as last year
99 students Diverse
Strong AP Program College Ready Curriculum Strong Attendance
Grades 11-12
C+
Worcester Technical High School
0.9 mi | #219 of 346 | Score: 49.8
Improved 47 spots from last year
-8.4 below state avg
1,442 students Diverse
19 sports • 1,016 athletes
Early College Program High Graduation Rate Rising School Career Tech Programs
Grades 09-12
C
Burncoat Senior High School
1.2 mi | #278 of 346 | Score: 43.5
Dropped 58 spots from last year
-14.7 below state avg
1,073 students Diverse
18 sports • 778 athletes
Early College Program College Ready Curriculum Strong Athletics Diverse Student Body
Grades 09-12
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Loan Amount
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After down payment
Total Interest
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Over life of loan
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Including down payment
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Down: $0
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Monthly Payment Breakdown

Principal & Interest $0
Property Tax $479
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

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Current Rate
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Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Location

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Neighborhood

56 Paine Street, Worcester MA 01605

Worcester, MA 01605

Listing Information

Listing Agent The Balestracci Group
Listing Office Lamacchia Realty, Inc.
Office Phone 508-832-5324
Agent MLS ID TM323786
Office MLS ID AN8507
Listing Data Updated Jul 7, 2026 1:44 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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