166-168 W Main St · Orange, MA 01364

$1,400,000

64 bd · 64.0 ba · 7,262 sqft · MultiFamily · 197 Days on market

Built 1800 0.38 ac 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 +17.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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 MLS

Bedrooms are money, and this beauty has 17 of them! 4 3BR units, 1 2BR unit, and 3 1BR units. Eight total units, all at market rents, all rents include heat and H/W. All units have landlord thermostats. Common coin-op laundry. Buderus boiler and 2 large water storage tanks, Honeywell Fire Alarm Control Panel. Roof is about 25% slate and 75% newer asphalt/fiberglass shingles. Units are in good shape, off-street parking.

Key facts

• Buderus boiler
• Off-street parking
• Good condition

Tags

• WELL MAINTAINED PROPERTY
• BUDERUS BOILER
• LARGE HOT WATER STORAGE TANKS
• COIN-OP LAUNDRY ONSITE
• OFF-STREET PARKING
• GOOD CONDITION

Property features AI

Finance

• Financial info: Active listing
• HOA & community: Not a senior community

Exterior

• Parking: 10 open/off-street paved parking spaces
• Utilities: Public water; Public sewer; 100 amp electric service with individual meters; Electric range and electric dryer hookups
• Home design: 5+ unit multi-family property (units up/down); 4 stories
• Construction: Frame construction; Stone and brick/mortar foundation; Shingle and slate roof; Built (year per public records)
• Exterior features: Gentle sloping lot; Paved public road frontage on a publicly maintained road; Paved drive and off-street parking

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 8 full bathrooms
• Interior features: 24 total rooms; Partial basement with interior entry, dirt floor and concrete; Electric dryer hookup available; Carpet and laminate flooring
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4×3bd/1.0ba + 1×2bd/1.0ba + 3×1bd/1.0ba units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive. Per door: $117/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 $1.35M (3.6% below list).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.2% in Orange — 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 63/100 on livability (#197 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, schools F.
• Ralph C Mahar (town): math 24% / reading 35% proficiency, ranked #258 of 302 in MA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 89 units permitted in Franklin County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $42k of value loss. Plan a longer hold.
• Franklin County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 $700k; list at $1.40M implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,232,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
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: 0.96% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-167,263
• Equity at exit: $208,745

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-68,248
• Equity at exit: $121,046

Cash invested: $392,000 (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 01364

• Home prices YoY: -19.2%
• Active inventory: 21
• Price-to-rent: 63.6×

Monthly cashflow live

• Estimated rent: $13,497 medium
• Mortgage (P&I): −$7,342
• Tax est. 1.5%: −$1,750 /mo · $21,000/yr
• Insurance: −$583
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,834
• Net cashflow: $932

Break-even live

Break-even rent $12,317

Max offer price $1,400,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$7,340
1× unit	2	1	$1,599
▸ 3× units	1	1	$4,557
Total (8 units)			$13,497

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $1,400,000 Active 197 DOM
2. 2026-06-17
   days on market $1,400,000 Active 196 DOM
3. 2026-06-16
   days on market $1,400,000 Active 195 DOM
4. 2026-06-15
   days on market $1,400,000 Active 194 DOM
5. 2026-06-13
   days on market $1,400,000 Active 192 DOM
6. 2026-06-12
   days on market $1,400,000 Active 191 DOM
7. 2026-06-10
   days on market $1,400,000 Active 189 DOM
8. 2026-06-09
   days on market $1,400,000 Active 188 DOM
9. 2026-06-08
   days on market $1,400,000 Active 187 DOM
10. 2026-06-07
    days on market $1,400,000 Active 186 DOM
11. 2026-06-07
    days on market $1,400,000 Active 185 DOM
12. 2026-06-03
    days on market $1,400,000 Active 182 DOM
13. 2026-06-02
    days on market $1,400,000 Active 181 DOM
14. 2026-06-01
    days on market $1,400,000 Active 180 DOM
15. 2026-05-31
    days on market $1,400,000 Active 179 DOM
16. 2026-05-30
    days on market $1,400,000 Active 178 DOM
17. 2025-12-03
    listed $1,400,000 New
18. 2025-04-03
    historical $2,450
19. 2025-03-06
    listed $2,450
20. 2025-01-18
    historical $1,950
21. 2025-01-16
    listed $1,950
22. 2024-10-29
    historical $1,950
23. 2024-10-26
    listed $1,950
24. 2024-10-02
    historical $1,750
25. 2024-09-23
    listed $1,750
26. 2024-05-16
    soldstatus $700,000 Sold 427-char remark

    Show marketing remark (427 chars)

    Bedrooms are money, and this beauty has 17 of them! 4 3BR units, 1 2BR unit, and 3 1BR units. Eight total units, all at market rents, all rents include heat and H/W. All units have landlord thermostats. Common coin-op laundry. Buderus boiler and 2 large water storage tanks, Honeywell Fire Alarm Control Panel. Roof is about 25% slate and 75% newer asphalt/fiberglass shingles. Units are in good shape, off-street parking.

27. 2024-03-07
    status Under Agreement 427-char remark

    Show marketing remark (427 chars)

    Bedrooms are money, and this beauty has 17 of them! 4 3BR units, 1 2BR unit, and 3 1BR units. Eight total units, all at market rents, all rents include heat and H/W. All units have landlord thermostats. Common coin-op laundry. Buderus boiler and 2 large water storage tanks, Honeywell Fire Alarm Control Panel. Roof is about 25% slate and 75% newer asphalt/fiberglass shingles. Units are in good shape, off-street parking.

28. 2024-03-01
    historical Contingent 427-char remark

    Show marketing remark (427 chars)

    Bedrooms are money, and this beauty has 17 of them! 4 3BR units, 1 2BR unit, and 3 1BR units. Eight total units, all at market rents, all rents include heat and H/W. All units have landlord thermostats. Common coin-op laundry. Buderus boiler and 2 large water storage tanks, Honeywell Fire Alarm Control Panel. Roof is about 25% slate and 75% newer asphalt/fiberglass shingles. Units are in good shape, off-street parking.

29. 2024-02-19
    listed $699,000 New 427-char remark

    Show marketing remark (427 chars)

    Bedrooms are money, and this beauty has 17 of them! 4 3BR units, 1 2BR unit, and 3 1BR units. Eight total units, all at market rents, all rents include heat and H/W. All units have landlord thermostats. Common coin-op laundry. Buderus boiler and 2 large water storage tanks, Honeywell Fire Alarm Control Panel. Roof is about 25% slate and 75% newer asphalt/fiberglass shingles. Units are in good shape, off-street parking.

30. 2017-09-29
    soldstatus $315,000 437-char remark

    Show marketing remark (437 chars)

    AMAZING INCOME OPPORTUNITY!!!!! FULLY RENTED 8 FAMILY.....CERTIFIED LEAD FREE...OFF STREET PARKING....WALK TO DOWNTOWN.....COIN-OP LAUNDRY ON SITE FOR ADDITIONAL INCOME...THIS PROPERTY HAS BEEN RENOVATED AND MAINTAINED WITH CARE....TWO 1 BEDROOM APARTMENTS....TWO 2 BEDROOM APARTMENTS...FOUR 3 BEDROOMS APARTMENTS.....ALL SOLID TENANTS WITH GOOD PAYMENT HISTORY....THIS IS AN INCREDIBLE OPPORTUNITY THAT WILL NOT BE AVAILABLE FOR LONG!!!

31. 2017-08-14
    listed $349,000 437-char remark

    Show marketing remark (437 chars)

    AMAZING INCOME OPPORTUNITY!!!!! FULLY RENTED 8 FAMILY.....CERTIFIED LEAD FREE...OFF STREET PARKING....WALK TO DOWNTOWN.....COIN-OP LAUNDRY ON SITE FOR ADDITIONAL INCOME...THIS PROPERTY HAS BEEN RENOVATED AND MAINTAINED WITH CARE....TWO 1 BEDROOM APARTMENTS....TWO 2 BEDROOM APARTMENTS...FOUR 3 BEDROOMS APARTMENTS.....ALL SOLID TENANTS WITH GOOD PAYMENT HISTORY....THIS IS AN INCREDIBLE OPPORTUNITY THAT WILL NOT BE AVAILABLE FOR LONG!!!

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $161,964
• − Mortgage interest: −$78,422
• − Property taxes: −$21,000
• − Insurance: −$7,666
• − Repairs & maintenance: −$12,957
• − Management: −$12,957
• − Depreciation: −$40,727
• Taxable loss: −$11,766
• Est. tax savings @ 24.0%: +$2,824
• After-tax cash flow: $14,008/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: Ralph C Mahar
• NCES district ID: 2509900
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 35% ▼ -12.00%
• Median HH income: $42,609
• Composite: 25.05/100
• National rank: #7544
• State rank: #258 of 302 in MA

Livability — Orange

• Score: 63/100
• State rank: #197
• US rank: #15360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange, MA
• City population: 7,668
• Population (ZIP): 7,668

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 68,566 people
• By 2030: 66,543 · -3.0%
• By 2040: 60,766 · -11.4%
• By 2050: 54,971 · -19.8%
• By 2075: 42,642 · -37.8%
• By 2100: 31,861 · -53.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Lithuanian 12% Romanian 4% Italian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Franklin

• 2024 margin: Solid D (+37.8) · D 67.3% · R 29.6% · Other 3.1%
• 2008→2024 swing: -9.9pp toward R · 2008: 47.7pp · 2024: 37.8pp
• All cycles: 2024: D+37.8 2020: D+44.4 2016: D+37.0 2012: D+47.0 2008: D+47.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.40%
• Current HPI: 274.2531
• Rent YoY: —
• Metro: —
• 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

+301.1% since first listed

15 events — show timeline

• 2025-12-03 Listed $1,400,000 MLS PIN
• 2025-04-03 Rental Removed $2,450 RENTALBEAST
• 2025-03-06 Listed for Rent $2,450 RENTALBEAST
• 2025-01-18 Rental Removed $1,950 RENTALBEAST
• 2025-01-16 Listed for Rent $1,950 RENTALBEAST
• 2024-10-29 Rental Removed $1,950 TURBOTENANT
• 2024-10-26 Listed for Rent $1,950 TURBOTENANT
• 2024-10-02 Rental Removed $1,750 TURBOTENANT
• 2024-09-23 Listed for Rent $1,750 TURBOTENANT
• 2024-05-16 Sold (MLS) $700,000 MLS PIN
• 2024-03-07 Pending — MLS PIN
• 2024-03-01 Contingent — MLS PIN
• 2024-02-19 Listed $699,000 MLS PIN
• 2017-09-29 Sold (MLS) $315,000 MLS PIN
• 2017-08-14 Listed $349,000 MLS PIN