56 Paine Street, Worcester MA 01605
Worcester, MA 01605
$595,000
Est. $3,688/month
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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
Market Insights
Property Timeline
Status: Active under contract
Jul 16, 2026
Active → Active Under Contract
Pending Sale
Jul 16, 2026
Offer accepted, sale pending
Showing Instructions Updated
Jul 8, 2026
New showing requirements
Listed for Sale
Jul 7, 2026
$595,000
Original listing
Agent: The Balestracci Group
Office: Lamacchia Realty, Inc.
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 07/16/2026 | 📋 Status: Active under contract | - | - | - | Active → Active Under Contract |
| 07/16/2026 | ⏳ Pending Sale | - | - | - | Offer accepted, sale pending |
| 07/08/2026 | 👁️ Showing Instructions Updated | - | - | - | New showing requirements |
| 07/07/2026 | 🏠 Listed for Sale | $595,000 | - | - | Original listing |
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%
Interior
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
Exterior
Construction
Conventional (2x4-2x6)
Architecture
None
Roof
Shingle, Other
Features
Rain Gutters
Pool
None
Spa
None
Fencing
None
Patio/Porch
Porch
Parking
Features
Paved Drive, Paved
Total Spaces
5
Utilities
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
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
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
Additional Details
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
Total market time (incl. prior listings)
23 days
Property Overview
Property Type
3 Family - 3 Units Up/Down
Listing Type
Sale Pending
Year Built
1896
Bedrooms
7
Full Bathrooms
3
Living Area
2,956 sq ft
Total Rooms
14
Stories
6
Levels
6
Floor Layout
Interactive room guide
Floor Layout
Finished Area
2,956 sq ft above grade
Display Options
Outdoor Areas
Patio & porchPorch
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
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
Nearby Schools
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
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
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
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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Monthly Payment
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Principal, interest, taxes & insurance
Loan Amount
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After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%
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
-0.5% Rate
$0/mo
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Current Rate
$0/mo
+0.5% Rate
$0/mo
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Payment Over Time
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 30, 2026 3:05 AM 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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