24 Southern Ave · Pittsfield, MA 01201

$179,900

2 bd · 2.0 ba · 1,768 sqft · MultiFamily public records · 46 Days on market

Built 1880 3,088 sqft lot $102/sqft · at area comps Est $186k · 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 +9.0/15.0
• 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: 2 units. confirmed

Listing remarks

Two-family flat offering strong potential for investors or owner-occupants seeking rental income. Located close to town, this property features a 3-bedroom, 1 bath first-floor unit with a de-lead certificate that will soon be vacant and a 2-bedroom 1-bath second-floor unit that has been de-leaded but has no certificate and is currently on a month-to-month lease. An enclosed front porch adds charm and additional usable space, while the small yard keeps exterior maintenance manageable. Updates include a new roof in 2022, some vinyl replacement windows, updated plumbing and a new auto-fill system added to the boiler along with additional radiators in 2025. With solid income potential this prop

Key facts

• De-lead certificate
• New roof
• Enclosed front porch

Tags

• DE-LEAD CERTIFICATE
• ENCLOSED FRONT PORCH
• SMALL YARD
• NEW ROOF
• VINYL REPLACEMENT WINDOWS
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×2bd/1ba units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $679/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% 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; 1 comparable units currently listed for rent nearby; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $3,085/mo this rent would consume 52% 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 $5k 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 $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $30k; list at $180k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $174,503 (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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.71% ✓
• Cap rate: 15.35%
• Cash-on-cash: 32.34%
• DSCR: 2.44
• GRM: 4.9

CMA / ARV

• ARV (median comp): $185,954
• List price: $179,900
• Delta: -3.26%
• 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
92 W Housatonic St	0.62mi	3/2.0 (+1)	1,872 (+6%)	8mo	$235,000	$126	50
79 Center St	0.55mi	3/3.0 (+1)	1,603 (-9%)	4mo	$220,000	$137	46

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: 32.3%
• Equity multiple: 2.44×
• Total profit: $72,615
• Equity at exit: $26,824

10-year hold

• IRR: 41.7%
• Equity multiple: 5.84×
• Total profit: $243,802
• Equity at exit: $15,554

Cash invested: $50,372 (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: 8.8×

Monthly cashflow live

• Estimated rent: $3,085 high
• Mortgage (P&I): −$943
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $1,358

Break-even live

Break-even rent $1,366

Max offer price $179,900

Occupancy floor 51%

Sensitivity live

Price	-10% $1,460	-5% $1,409	+0% $1,358	+5% $1,307	+10% $1,256
Rent	-10% $1,114	-5% $1,236	+0% $1,358	+5% $1,480	+10% $1,601
Rate	-1.0pp $1,448	-0.5pp $1,403	base $1,358	+0.5pp $1,311	+1.0pp $1,264

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,699
1× unit	2	1	$1,386
Total (2 units)			$3,085

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Atwood Ave Pittsfield, MA	3.0	1.0	1350	$1,600	$1.19	44d	1	0.78mi

Listing history 11 events

1. 2026-05-05
   historical
2. 2026-03-20
   listed $179,900 Active
3. 2026-03-06
   historical
4. 2026-02-27
   listed $189,900 Active
5. 2017-12-20
   soldstatus $30,000
6. 2017-06-08
   listed $39,900
7. 2009-04-27
   soldstatus $23,000
8. 2009-04-24
   soldstatus $23,000
9. 2009-04-24
   soldstatus $23,000
10. 2009-02-25
    listed $27,900
11. 2009-02-25
    listed $27,900

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $1,473 · $123/mo
• Expected delta: +$740/yr (+$62/mo · 100.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% 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: $37,020
• − Mortgage interest: −$10,077
• − Property taxes: −$733
• − Insurance: −$900
• − Repairs & maintenance: −$2,962
• − Management: −$2,962
• − Depreciation: −$5,233
• Taxable income: $14,154
• Est. tax owed @ 24.0%: −$3,397
• After-tax cash flow: $12,895/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

+544.8% since first listed

11 events — show timeline

• 2026-05-05 Listing Removed — BCMLS
• 2026-03-20 Listed $179,900 BCMLS
• 2026-03-06 Listing Removed — BCMLS
• 2026-02-27 Listed $189,900 BCMLS
• 2017-12-20 Sold (MLS) $30,000 MLS PIN
• 2017-06-08 Listed $39,900 MLS PIN
• 2009-04-27 Sold (Public Records) $23,000 Public Records
• 2009-04-24 Sold (MLS) $23,000 BCMLS
• 2009-04-24 Sold (MLS) $23,000 MLS PIN
• 2009-02-25 Listed $27,900 BCMLS
• 2009-02-25 Listed $27,900 MLS PIN

Property tax history

-2.4%/yr

Latest (2023): $733 · +9.4% YoY. Source: county tax records.