91 Chelsea St · Everett, MA 02149

$3,850,000

12 bd · 9.0 ba · 7,629 sqft · MultiFamily public records · 4 Days on market

Built 1940 7,910 sqft lot

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Why this score? — see what drove the D- 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 +12.1/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +3.0/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

91 Chelsea Street presents a compelling investment opportunity in the rapidly growing Everett market. This well-maintained 12-unit multifamily property consists of a mix of 1, 2, and 3 bed units, offering a highly desirable and easy-to-manage unit mix. The building underwent a full renovation just a few years ago, featuring updated interiors, modern finishes, and improved systems that minimize near-term capital expenditures. Each unit is designed to attract and retain quality tenants, supporting strong and consistent rental income. Ideally located with convenient access to major routes, public transportation, and the ongoing development transforming Everett, this property is perfectly posit

Key facts

• Improved systems
• Convenient access
• Updated interiors

Tags

• WELL MAINTAINED
• FULL RENOVATION
• UPDATED INTERIORS
• MODERN FINISHES
• IMPROVED SYSTEMS
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Building area approximately 7,629 total square feet; Lot about 0.18 acre; Property is active
• HOA & community: Not a senior community

Exterior

• Parking: Off-street paved parking; 6 open parking spaces (total 6 spaces)
• Utilities: Public water; Public sewer
• Home design: 5+ unit multi-family (up/down); 2 stories; Approximate year built (public records)
• Construction: Frame and stone construction; Block and stone foundation; Shingle and rubber roof
• Exterior features: Corner lot; Paved roads

Interior

• Flooring: Vinyl flooring
• Bathrooms: 9 full bathrooms
• Interior features: 30 total rooms; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 12 × 1-bed/?-bath units multifamily listed at $3.85M.

Deal economics

• At list price, monthly cash flow is $-841 ($-10k/yr) — negative. Per door: $-70/mo.
• To cash-flow at today's rent, offer at most $3.70M (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.89M (24.9% below list).
• Recommended offer: $2.89M (24.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Everett — 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 80/100 on livability (#35 in MA, #1,665 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Everett (suburban): math 15% / reading 26% proficiency, ranked #289 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 45 active listings in the ZIP; solid renter incomes; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• At $28,929/mo this rent would consume 407% of the median local household income ($85k/yr) (locally 2888% 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 (-3.0%/yr); year-one equity from $27k of loan paydown is wiped out by about $116k of value loss. Plan a longer hold.
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,892,900 (24.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.03% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.34×
• Total profit: $-706,726
• Equity at exit: $574,048

10-year hold

• IRR: -13.3%
• Equity multiple: 0.26×
• Total profit: $-802,377
• Equity at exit: $332,878

Cash invested: $1,078,000 (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 02149

• Home prices YoY: -24.2%
• Rents YoY: 2.0%
• Active inventory: 45
• Price-to-rent: 133.1×

Monthly cashflow live

• Estimated rent: $28,929 high
• Mortgage (P&I): −$20,190
• Tax from tax record: −$1,901 /mo · $22,807/yr
• Insurance: −$1,604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,075
• Net cashflow: $-841

Break-even live

Break-even rent $29,993

Max offer price $3,701,494

Occupancy floor 98%

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	—	$28,932
Total (12 units)			$28,929

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: $962,500
• Closing costs: $115,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   statusdays on market $3,850,000 Active 4 DOM
2. 2026-06-17
   days on market $3,850,000 New 3 DOM
3. 2026-06-16
   days on market $3,850,000 New 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $3,850,000 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: $22,807 · $1,901/mo
• Projected year-2 tax: $35,081 · $2,923/mo
• Expected delta: +$12,274/yr (+$1,023/mo · 53.8%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $347,148
• − Mortgage interest: −$215,660
• − Property taxes: −$22,807
• − Insurance: −$19,250
• − Repairs & maintenance: −$27,772
• − Management: −$27,772
• − Depreciation: −$112,000
• Taxable loss: −$78,113
• Est. tax savings @ 24.0%: +$18,747
• After-tax cash flow: $8,659/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: Everett
• NCES district ID: 2504770
• Math proficiency: 15% ▼ -22.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $51,780
• Composite: 18.46/100
• National rank: #8926
• State rank: #289 of 302 in MA

Livability — Everett

• Score: 80/100
• State rank: #35
• US rank: #1665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Everett, MA
• County: Middlesex County · 1,437,704 people
• City population: 50,045
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 50,045
• Household income: $85,218
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2888.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 1,740,269 people
• By 2030: 1,817,187 · +4.4%
• By 2040: 1,963,195 · +12.8%
• By 2050: 2,087,461 · +20.0%
• By 2075: 2,344,036 · +34.7%
• By 2100: 2,383,776 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 38% Hispanic / Latino 31% Two or more races 23% Black 12% Asian 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Estonian 10% Hispanic 5% Russian 3%
• Foreign-born: 45% · Canada, Vietnam, China
• Languages at home: 37% English-only · Spanish 26% Other Indo-European 22% French/Haitian/Cajun 8%

Political lean MEDSL · Middlesex

• 2024 margin: Solid D (+39.5) · D 68.5% · R 29.0% · Other 2.5%
• 2008→2024 swing: +9.3pp toward D · 2008: 30.1pp · 2024: 39.5pp
• All cycles: 2024: D+39.5 2020: D+45.2 2016: D+38.1 2012: D+26.9 2008: D+30.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.43%
• Current HPI: 361.8972
• Rent YoY: ▲ 2.03%
• Metro: Boston-Cambridge-Newton, MA-NH
• 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

1 event — show timeline

• 2026-06-12 Listed $3,850,000 MLS PIN

Property tax history

+7.1%/yr

Latest (2025): $22,807 · +8.2% YoY. Source: county tax records.