1-23 Eastern Ave · Northampton, MA 01060

$2,950,000

24 bd · 12.0 ba · 25,532 sqft · MultiFamily public records · 128 Days on market

Built 1880 0.36 ac lot

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Rent growth +4.0/5.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• 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: 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 MLS

Location, Location, Location!  This unique 12-unit building is only a few blocks from Main Street downtown Northampton.  35 Bedrooms and 14 Baths!!It’s a rare find.  Bring your offer.  Contact property owner directly for showings

Key facts

• Full bathroom
• Substantial lot
• 0.36 acre lot

Tags

• MULTI-FAMILY RESIDENCE
• FULL BATHROOM
• SUBSTANTIAL LOT

What this means for you Summary

Snapshot

• This is a 12 × 3-bed/1.0-bath units multifamily listed at $2.95M.

Deal economics

• At list price, monthly cash flow is $8k ($98k/yr) — positive. Per door: $678/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($34k rent vs $2.95M).
• Recommended offer: $2.60M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.2% in Northampton — 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 78/100 on livability (#49 in MA, #2,534 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment A; Watch: crime D+, amenities F, cost of living F.
• Northampton (suburban): math 36% / reading 53% proficiency, ranked #175 of 302 in MA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.9%/yr); 41 active listings in the ZIP; solid renter incomes; 349 units permitted in Hampshire County in 2024 (185 in 5+ unit buildings).
• At $34,236/mo this rent would consume 535% of the median local household income ($77k/yr) (locally 1269% 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 $20k of loan paydown is wiped out by about $88k of value loss. Plan a longer hold.
• Hampshire County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $826k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($2.60M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,596,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.16% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.82%
• DSCR: 1.53
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $141,587
• Equity at exit: $439,855

10-year hold

• IRR: 16.2%
• Equity multiple: 2.49×
• Total profit: $1,231,756
• Equity at exit: $255,062

Cash invested: $826,000 (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 01060

• Rents YoY: 5.9%
• Active inventory: 41
• Price-to-rent: 86.2×

Monthly cashflow live

• Estimated rent: $34,236 medium
• Mortgage (P&I): −$15,470
• Tax from tax record: −$2,209 /mo · $26,511/yr
• Insurance: −$1,229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,190
• Net cashflow: $8,138

Break-even live

Break-even rent $23,935

Max offer price $2,950,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 12× units	3	1	$34,236
Total (12 units)			$34,236

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: $737,500
• Closing costs: $88,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $2,950,000 Active 128 DOM
2. 2026-06-17
   days on market $2,950,000 Active 127 DOM
3. 2026-06-16
   days on market $2,950,000 Active 126 DOM
4. 2026-06-15
   days on market $2,950,000 Active 125 DOM
5. 2026-06-14
   days on market $2,950,000 Active 123 DOM
6. 2026-06-13
   days on market $2,950,000 Active 122 DOM
7. 2026-06-10
   days on market $2,950,000 Active 120 DOM
8. 2026-06-09
   days on market $2,950,000 Active 119 DOM
9. 2026-06-08
   days on market $2,950,000 Active 118 DOM
10. 2026-06-07
    days on market $2,950,000 Active 117 DOM
11. 2026-06-05
    days on market $2,950,000 Active 114 DOM
12. 2026-06-03
    days on market $2,950,000 Active 113 DOM
13. 2026-06-02
    days on market $2,950,000 Active 112 DOM
14. 2026-06-01
    days on market $2,950,000 Active 111 DOM
15. 2026-05-31
    days on market $2,950,000 Active 110 DOM
16. 2026-05-30
    days on market $2,950,000 Active 109 DOM
17. 2026-02-10
    listed $2,950,000 New 275-char remark

    Show marketing remark (275 chars)

    Location, Location, Location!  This unique 12-unit building is only a few blocks from Main Street downtown Northampton.  35 Bedrooms and 14 Baths!!It’s a rare find.  Bring your offer.  Contact property owner directly for showings

ⓘ 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: $26,511 · $2,209/mo
• Projected year-2 tax: $31,398 · $2,616/mo
• Expected delta: +$4,887/yr (+$407/mo · 18.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $410,832
• − Mortgage interest: −$165,246
• − Property taxes: −$26,511
• − Insurance: −$14,750
• − Repairs & maintenance: −$32,867
• − Management: −$32,867
• − Depreciation: −$85,818
• Taxable income: $52,774
• Est. tax owed @ 24.0%: −$12,666
• After-tax cash flow: $84,989/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: Northampton
• NCES district ID: 2508850
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $57,335
• Composite: 38.86/100
• National rank: #4102
• State rank: #175 of 302 in MA

Livability — Northampton

• Score: 78/100
• State rank: #49
• US rank: #2534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Northampton, MA
• County: Hampshire County · 76,035 people
• City population: 16,492
• Metro: Springfield, MA
• Population (ZIP): 16,492
• Household income: $76,848
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1269.0

Population outlook (Hampshire County) Hauer SSP2

• Today (2025): 166,577 people
• By 2030: 168,928 · +1.4%
• By 2040: 171,197 · +2.8%
• By 2050: 175,542 · +5.4%
• By 2075: 199,884 · +20.0%
• By 2100: 211,819 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 7% Italian 4% Lithuanian 4%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 86% English-only · Spanish 9% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Hampshire

• 2024 margin: Solid D (+41.9) · D 69.5% · R 27.6% · Other 2.9%
• 2008→2024 swing: -3.6pp toward R · 2008: 45.6pp · 2024: 41.9pp
• All cycles: 2024: D+41.9 2020: D+46.8 2016: D+39.5 2012: D+43.8 2008: D+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -200.05%
• Current HPI: 315.842
• Rent YoY: ▲ 5.87%
• Metro: Springfield, 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

1 event — show timeline

• 2026-02-10 Listed $2,950,000 MLS PIN

Property tax history

+5.1%/yr

Latest (2023): $26,511 · +3.0% YoY. Source: county tax records.