147 Dewey Ave · Pittsfield, MA 01201

$189,900

2 bd · 2.0 ba · 1,485 sqft · MultiFamily public records · 46 Days on market

Built 1880 6,482 sqft lot $128/sqft · at area comps Est $183k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.9/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Opportunity awaits with this in-town multi-family flat, ideal for investors or owner-occupants. The first-floor unit offers 3 bedrooms, 1 full bath, and a new large covered side/back porch. The second-floor unit includes 1 bedroom, a 3/4 bath, and a small bonus room for added flexibility. An enclosed front porch, off-street parking, and a large/deep backyard with direct access to the Southwest Branch of the Housatonic River add to the property's appeal. Recent updates include a new roof in 2024, some vinyl replacement windows, and 2025 boiler improvements, including a new controller water filter and additional radiators. A practical option for those looking for rental income, owner-occupanc

Key facts

• Off street parking
• Large deep backyard
• New roof

Tags

• LARGE COVERED SIDE BACK PORCH
• ENCLOSED FRONT PORCH
• OFF STREET PARKING
• LARGE DEEP BACKYARD
• NEW ROOF
• VINYL REPLACEMENT WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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); 276 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $3,220/mo this rent would consume 54% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y 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 $86k; list at $190k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.70% ✓
• Cap rate: 14.91%
• Cash-on-cash: 30.79%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

• ARV (median comp): $183,318
• List price: $189,900
• Delta: 3.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Linden St	0.26mi	3/2.0 (+1)	1,320 (-11%)	15mo	$180,000	$136	52
79 Center St	0.59mi	3/3.0 (+1)	1,603 (+8%)	4mo	$220,000	$137	47

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: 18.7%
• Equity multiple: 1.81×
• Total profit: $43,073
• Equity at exit: $28,315

10-year hold

• IRR: 30.6%
• Equity multiple: 4.48×
• Total profit: $185,142
• Equity at exit: $16,419

Cash invested: $53,172 (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: 276
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,220 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$104 /mo · $1,253/yr
• Insurance: −$79
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $904

Break-even live

Break-even rent $2,076

Max offer price $189,900

Occupancy floor 67%

Sensitivity live

Price	-10% $1,011	-5% $958	+0% $904	+5% $850	+10% $796
Rent	-10% $650	-5% $777	+0% $904	+5% $1,031	+10% $1,158
Rate	-1.0pp $1,000	-0.5pp $952	base $904	+0.5pp $855	+1.0pp $805

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,860
1× unit	1	0.75	$1,359
Total (2 units)			$3,220

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
343 Columbus Ave Pittsfield, MA	1.0	1.0	900	$1,200	$1.33	44d	1	0.13mi
155 Francis Ave Unit 3 Pittsfield, MA	1.0	1.0	900	$1,400	$1.56	44d	1	0.21mi
266 Linden St Unit 2R Pittsfield, MA	3.0	1.0	1000	$1,750	$1.75	24d	1	0.30mi
19 Atwood Ave Pittsfield, MA	3.0	1.0	1350	$1,600	$1.19	44d	1	0.78mi
456 Fenn St Unit 4 Pittsfield, MA	2.0	1.0	1000	$1,450	$1.45	44d	1	0.91mi
24 Curtin Ave Pittsfield, MA	3.0	1.5	1176	$1,600	$1.36	44d	1	1.05mi

Listing history 24 events

1. 2026-05-05
   historical
2. 2026-03-20
   listed $189,900 Active
3. 2019-12-23
   historical
4. 2019-06-23
   listed $69,900
5. 2019-02-27
   historical
6. 2018-08-24
   historical
7. 2018-07-19
   listed $79,000
8. 2018-07-19
   listed $79,000
9. 2013-09-25
   historical
10. 2012-09-25
    listed $84,500
11. 2007-03-29
    soldstatus $85,900
12. 2007-01-09
    soldstatus $50,000
13. 2007-01-09
    soldstatus $50,000
14. 2007-01-09
    soldstatus $50,000
15. 2006-12-05
    listed $67,500
16. 2006-12-05
    listed $67,500
17. 2006-10-28
    historical
18. 2006-04-28
    historical
19. 2005-10-28
    listed $67,500
20. 2005-10-28
    listed $67,500
21. 2004-10-04
    soldstatus $56,000
22. 2004-09-14
    soldstatus $56,000
23. 2004-06-02
    listed $64,900
24. 2002-10-08
    soldstatus $28,000

ⓘ 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: $1,253 · $104/mo
• Projected year-2 tax: $1,794 · $150/mo
• Expected delta: +$541/yr (+$45/mo · 43.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $38,640
• − Mortgage interest: −$10,637
• − Property taxes: −$1,253
• − Insurance: −$6,475
• − Repairs & maintenance: −$3,091
• − Management: −$3,091
• − Depreciation: −$5,524
• Taxable income: $8,568
• Est. tax owed @ 24.0%: −$2,056
• After-tax cash flow: $8,791/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

+578.2% since first listed

24 events — show timeline

• 2026-05-05 Listing Removed — BCMLS
• 2026-03-20 Listed $189,900 BCMLS
• 2019-12-23 Listing Removed — BCMLS
• 2019-06-23 Listed $69,900 BCMLS
• 2019-02-27 Listing Removed — BCMLS
• 2018-08-24 Listing Removed — BCMLS
• 2018-07-19 Listed $79,000 BCMLS
• 2018-07-19 Listed $79,000 BCMLS
• 2013-09-25 Listing Removed — BCMLS
• 2012-09-25 Listed $84,500 BCMLS
• 2007-03-29 Sold (Public Records) $85,900 Public Records
• 2007-01-09 Sold (Public Records) $50,000 Public Records
• 2007-01-09 Sold (MLS) $50,000 BCMLS
• 2007-01-09 Sold (MLS) $50,000 MLS PIN
• 2006-12-05 Listed $67,500 BCMLS
• 2006-12-05 Listed $67,500 MLS PIN
• 2006-10-28 Listing Removed — BCMLS
• 2006-04-28 Listing Removed — BCMLS
• 2005-10-28 Listed $67,500 BCMLS
• 2005-10-28 Listed $67,500 BCMLS
• 2004-10-04 Sold (Public Records) $56,000 Public Records
• 2004-09-14 Sold (MLS) $56,000 BCMLS
• 2004-06-02 Listed $64,900 BCMLS
• 2002-10-08 Sold (Public Records) $28,000 Public Records

Property tax history

-1.0%/yr

Latest (2023): $1,253 · +7.5% YoY. Source: county tax records.