401-413 Wahconah St · Pittsfield, MA 01201

$1,900,000

4 bd · 2.0 ba · 2,040 sqft · MultiFamily public records · 21 Days on market

Built 1986 1.81 ac lot $931/sqft · 1153% above area

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 14 units. estimate disagrees with records

Listing remarks MLS

Rare Investment Opportunity: 14-Unit Residential Portfolio Why buy just one multi-family investment property when you can own the whole neighborhood? Presenting a truly unique real estate package: seven contiguous duplexes situated on their own private street in Pittsfield. This portfolio offers a total of 14 high-demand apartments, providing immediate scale and streamlined management for the savvy investor. Each of the seven duplexes features two spacious units. Every apartment offers a comfortable 2-bedroom, 1-bathroom floor plan. Built in 1986, these structures offer modern construction standards compared to older area stock. Whether you are looking to expand an existing portfolio or make a significant entry into the Berkshire County rental market!

Key facts

• Private street
• 1.81 acre lot
• Built 1986

Tags

• 14 UNIT RESIDENTIAL PORTFOLIO
• SEVEN CONTIGUOUS DUPLEXES
• PRIVATE STREET
• HIGH DEMAND APARTMENTS
• COMFORTABLE FLOOR PLAN
• MODERN CONSTRUCTION STANDARDS

What this means for you Summary

Snapshot

• This is a 14 × 2-bed/1.0-bath units multifamily listed at $1.90M.

Deal economics

• At list price, monthly cash flow is $5k ($66k/yr) — positive. Per door: $392/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.90M).
• Recommended offer: $1.87M (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.6% in Pittsfield — 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 75/100 on livability (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, schools D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.7%/yr); 275 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $20,990/mo this rent would consume 354% of the median local household income ($71k/yr) (locally 1580% 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 $13k of loan paydown is wiped out by about $57k of value loss. Plan a longer hold.
• Berkshire County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $532k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($1.87M) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,871,500 (1.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.39%
• DSCR: 1.55
• GRM: 7.5

CMA / ARV

• ARV (median comp): $1,061,890
• List price: $1,900,000
• Delta: 78.93%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 Edgewood Rd	0.58mi	4/2.0	2,112 (+4%)	3mo	$270,000	$128	65
81-83 Pecks Rd	0.34mi	4/2.0	1,760 (-14%)	8mo	$230,000	$131	54
70 Briggs Ave	0.40mi	4/2.0	1,752 (-14%)	14mo	$229,000	$131	46
790 North St	0.69mi	4/2.0	2,186 (+7%)	13mo	$270,000	$124	45

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

Projected returns pro-forma

-3.0% appreciation · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.27×
• Total profit: $145,520
• Equity at exit: $283,296

10-year hold

• IRR: 19.5%
• Equity multiple: 2.97×
• Total profit: $1,045,962
• Equity at exit: $164,277

Cash invested: $532,000 (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 01201

• Rents YoY: 7.7%
• Active inventory: 275
• Price-to-rent: 105.6×

Monthly cashflow live

• Estimated rent: $20,990 high
• Mortgage (P&I): −$9,964
• Tax from tax record: −$333 /mo · $3,992/yr
• Insurance: −$792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,408
• Net cashflow: $5,494

Break-even live

Break-even rent $14,036

Max offer price $1,900,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 14× units	2	1	$20,986
Total (14 units)			$20,990

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: $475,000
• Closing costs: $57,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Stoddard Ave Unit 78 Pittsfield, MA	4.0	1.5	1560	$2,000	$1.28	43d	1	0.90mi
117 Lincoln St Unit 117 Pittsfield, MA	4.0	2.0	1500	$2,000	$1.33	43d	1	1.18mi

Listing history 2 events

1. 2026-05-10
   status Pending 765-char remark

   Show marketing remark (765 chars)

   Rare Investment Opportunity: 14-Unit Residential Portfolio Why buy just one multi-family investment property when you can own the whole neighborhood? Presenting a truly unique real estate package: seven contiguous duplexes situated on their own private street in Pittsfield. This portfolio offers a total of 14 high-demand apartments, providing immediate scale and streamlined management for the savvy investor. Each of the seven duplexes features two spacious units. Every apartment offers a comfortable 2-bedroom, 1-bathroom floor plan. Built in 1986, these structures offer modern construction standards compared to older area stock. Whether you are looking to expand an existing portfolio or make a significant entry into the Berkshire County rental market!

2. 2026-04-17
   listed $1,900,000 Active 765-char remark

   Show marketing remark (765 chars)

   Rare Investment Opportunity: 14-Unit Residential Portfolio Why buy just one multi-family investment property when you can own the whole neighborhood? Presenting a truly unique real estate package: seven contiguous duplexes situated on their own private street in Pittsfield. This portfolio offers a total of 14 high-demand apartments, providing immediate scale and streamlined management for the savvy investor. Each of the seven duplexes features two spacious units. Every apartment offers a comfortable 2-bedroom, 1-bathroom floor plan. Built in 1986, these structures offer modern construction standards compared to older area stock. Whether you are looking to expand an existing portfolio or make a significant entry into the Berkshire County rental market!

ⓘ 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: $3,992 · $333/mo
• Projected year-2 tax: $13,681 · $1,140/mo
• Expected delta: +$9,689/yr (+$807/mo · 242.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $251,880
• − Mortgage interest: −$106,430
• − Property taxes: −$3,992
• − Insurance: −$9,500
• − Repairs & maintenance: −$20,150
• − Management: −$20,150
• − Depreciation: −$55,273
• Taxable income: $36,385
• Est. tax owed @ 24.0%: −$8,732
• After-tax cash flow: $57,195/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

Population outlook (Berkshire County) Hauer SSP2

• Today (2025): 119,723 people
• By 2030: 114,608 · -4.3%
• By 2040: 102,806 · -14.1%
• By 2050: 91,305 · -23.7%
• By 2075: 71,517 · -40.3%
• By 2100: 57,988 · -51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Berkshire

• 2024 margin: Solid D (+39.9) · D 68.9% · R 29.0% · Other 2.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 52.4pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+47.1 2016: D+41.5 2012: D+53.7 2008: D+52.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, MA
• 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

2 events — show timeline

• 2026-05-10 Pending — BCMLS
• 2026-04-17 Listed $1,900,000 BCMLS

Property tax history

+3.1%/yr

Latest (2023): $3,992 · +3.2% YoY. Source: county tax records.