93 Sterling St · Worcester, MA 01610

$639,000

6 bd · 3.0 ba · 3,285 sqft · MultiFamily public records · 9 Days on market

Built 1915 5,000 sqft lot Est $644k · at est.

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.5/30.0
• ARV discount +7.8/15.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Appreciation +4.6/10.0
• Livability +4.4/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Rent growth +1.9/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Fully Occupied Home with tons of updates over the years is ready for new owners! This 3 unit home was gutted to the studs in 2001-2 including all new plumbing and electrical. Additional Updates include: Replacement windows,Two Gas Furnaces 2001-2, Insulation 2002, Three Gas Hot Water Heaters all under 5 yrs old,and Rebuilt front porches 2014.Plus All three units have large rooms, high ceilings, hardwood floors in living room, dining room, and all bedrooms. Each Unit has separate washer/dryer hookups. Plenty of living space,storage area in back halls, and nice grassy back yard. Easy access to major routes, schools, downtown, and shopping. Parking on street and house side during winter months. First and Second Floors TAW long term tenants. Make this house your new home or investment property!

Key facts

• Range hoods
• Bathroom vents
• 2020 roof

Tags

• 2020 ROOF
• NEW FLOORING
• LAUNDRY HOOKUPS
• RANGE HOODS
• BATHROOM VENTS
• HIGH CEILINGS

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Open parking available
• Utilities: Public water; Public sewer; 110-volt electric with individual meters
• Home design: 3-family property; 3 stories
• Construction: Frame construction; Stone and granite foundation; Grey exterior; Lead paint certified treated; Built year per public records
• Exterior features: Sloped lot with city views; Public road frontage; Shingle roof

Interior

• Bathrooms: 3 full bathrooms
• Interior features: Total of 18 rooms; Dirt floor and concrete unfinished basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $639k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive. Per door: $279/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $632k (1.1% below list).
• Recommended offer: $632k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.1% in Worcester — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 87/100 on livability (#9 in MA, #312 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: schools C-, cost of living D.
• Worcester (urban): math 17% / reading 30% proficiency, ranked #280 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.2%/yr); 25 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $6,322/mo this rent would consume 147% of the median local household income ($51k/yr) (locally 2517% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-0.7%/yr); year-one equity from $4k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $321k; list at $639k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $632,200 (1.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.62%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $643,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Sterling St	0.02mi	6/3.0	3,231 (-2%)	10mo	$575,000	$178	88
184 Vernon St	0.18mi	6/3.0	3,257 (-1%)	8mo	$620,000	$190	84
56 Fairfax Rd	0.17mi	6/3.0	3,387 (+3%)	10mo	$650,000	$192	79
6 Lund St	0.33mi	6/3.0	3,369 (+3%)	3mo	$680,000	$202	78
17 5th Ave	0.22mi	6/3.0	3,481 (+6%)	14mo	$725,000	$208	68
9 Montrose St	0.16mi	6/3.0	3,540 (+8%)	17mo	$695,000	$196	66
32 Granite	0.52mi	6/3.0	3,711 (+13%)	2mo	$705,000	$190	52
17 H Ward St	0.56mi	7/4.0 (+1)	3,388 (+3%)	14mo	$840,000	$248	48
12 Butler St	0.68mi	6/3.0	3,432 (+4%)	20mo	$535,000	$156	44
59 Barclay St	0.73mi	5/3.0 (-1)	3,000 (-9%)	3mo	$550,000	$183	44
661 Millbury St	0.40mi	6/3.0	2,838 (-14%)	20mo	$583,000	$205	42
49 Granite St	0.56mi	6/3.0	3,750 (+14%)	15mo	$782,895	$209	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-5,448
• Equity at exit: $162,675

10-year hold

• IRR: 3.2%
• Equity multiple: 1.29×
• Total profit: $52,396
• Equity at exit: $178,112

Cash invested: $178,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 01610

• Home prices YoY: -0.1%
• Rents YoY: -2.2%
• Active inventory: 25
• Price-to-rent: 25.3×

Monthly cashflow live

• Estimated rent: $6,322 high
• Mortgage (P&I): −$3,351
• Tax from tax record: −$540 /mo · $6,477/yr
• Insurance: −$266
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,328
• Net cashflow: $837

Break-even live

Break-even rent $5,262

Max offer price $639,000

Occupancy floor 82%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,321
Total (3 units)			$6,322

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $639,000 Active 9 DOM
2. 2026-06-17
   days on market $639,000 Active 8 DOM
3. 2026-06-16
   days on market $639,000 Active 7 DOM
4. 2026-06-15
   days on market $639,000 Active 6 DOM
5. 2026-06-14
   statusdays on market $639,000 Active 4 DOM
6. 2026-06-09
   remarks 442-char remark
7. 2026-06-09
   listed $639,000 New 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $6,477 · $540/mo
• Projected year-2 tax: $7,168 · $597/mo
• Expected delta: +$691/yr (+$58/mo · 10.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,864
• − Mortgage interest: −$35,794
• − Property taxes: −$6,477
• − Insurance: −$3,195
• − Repairs & maintenance: −$6,069
• − Management: −$6,069
• − Depreciation: −$18,589
• Taxable loss: −$329
• Est. tax savings @ 24.0%: +$79
• After-tax cash flow: $10,128/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Worcester
• NCES district ID: 2513230
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $45,063
• Composite: 20.3/100
• National rank: #8615
• State rank: #280 of 302 in MA

Livability — Worcester

• Score: 87/100
• State rank: #9
• US rank: #312

Category grades

Amenities A+ Commute A+ Cost of living D Crime A+ Employment C Housing A- Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worcester, MA
• County: Worcester County · 487,911 people
• City population: 207,324
• Metro: Worcester, MA-CT
• Population (ZIP): 30,444
• Household income: $51,472
• Rent vs Own: 80.8% rent · 19.2% own
• Severe rent burden: 2517.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 850,858 people
• By 2030: 860,403 · +1.1%
• By 2040: 869,902 · +2.2%
• By 2050: 869,110 · +2.1%
• By 2075: 870,120 · +2.3%
• By 2100: 829,703 · -2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 42% White 34% Two or more races 21% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 21% Dominican 8%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 27% · Canada, Vietnam, China
• Languages at home: 48% English-only · Spanish 35% Other Indo-European 4% Vietnamese 2%

Political lean MEDSL · Worcester

• 2024 margin: D (+10.0) · D 53.9% · R 43.9% · Other 2.2%
• 2008→2024 swing: -3.8pp toward R · 2008: 13.8pp · 2024: 10.0pp
• All cycles: 2024: D+10.0 2020: D+17.8 2016: D+10.5 2012: D+9.2 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.73%
• Current HPI: 485.4378
• Rent YoY: ▼ -2.22%
• Metro: Worcester, MA-CT
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+606.9% since first listed

15 events — show timeline

• 2026-06-09 Listed $639,000 MLS PIN
• 2019-03-04 Sold (MLS) $321,000 MLS PIN
• 2019-01-15 Pending — MLS PIN
• 2018-12-26 Relisted — MLS PIN
• 2018-12-17 Pending — MLS PIN
• 2018-10-24 Listed $330,000 MLS PIN
• 2004-08-17 Sold (Public Records) $300,000 Public Records
• 2004-08-17 Sold (MLS) $300,000 MLS PIN
• 2004-06-19 Listing Removed — MLS PIN
• 2004-05-18 Listed $304,900 MLS PIN
• 2000-09-22 Sold (Public Records) $110,000 Public Records
• 2000-09-21 Sold (MLS) $110,000 MLS PIN
• 2000-07-31 Listing Removed — MLS PIN
• 2000-01-03 Listed $99,900 MLS PIN
• 1985-08-13 Sold (Public Records) $90,400 Public Records

Property tax history

+4.2%/yr

Latest (2023): $6,477 · +15.0% YoY. Source: county tax records.