97-103 University Rd · Brookline, MA 02445

$5,900,000

5 bd · 3.0 ba · 3,854 sqft · MultiFamily public records · 10 Days on market

Built 1900 0.28 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 +13.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• Rent growth +2.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 9 units. estimate disagrees with records

Listing remarks MLS

Rare development opportunity in the heart of Brookline's coveted Washington Square neighborhood. Situated on University Road, 97 and 101-103 University are comprised of two abutting multifamily lots totaling 12,219 SF (approximately 6,000 SF each), with the ability to build three residential units on each lot by right. 6 Units total. OR ZBA-approved plans for a 9 Unit Development... past demo stay. Developers, investors, and end-users alike will appreciate the flexibility to develop the parcels separately or explore combining the lots for a larger-scale project. This property is offering a rare chance to capitalize on one of Greater Boston's most desirable and supply-constrained residential markets. No representations made by seller; buyer to perform their own due diligence. Email or Text me for more details.

Key facts

• Zba approved plans
• 0.28 acre lot
• 5 parking spots

Tags

• WASHINGTON SQUARE NEIGHBORHOOD
• ZBA APPROVED PLANS

Property features AI

Finance

• Other: Total building area approximately 7,308 (building area reported); Lot size approximately 0.28 acres; Property contains multiple distinct units (unit-level counts vary)
• HOA & community: Not a senior community; Community amenities nearby: public transportation, shopping, parks, walk/jog trails, medical facility, house of worship, private and public schools, T-Station, university

Exterior

• Parking: 5 off-street/open parking spaces
• Utilities: Public water; Public sewer
• Home design: Multi-family property; 6 stories total; Approximate/unknown construction year
• Construction: Approximately built (year from public records; details mixed/approximate)
• Exterior features: Lot slopes (sloped lot)

Interior

• Bathrooms: 6 full bathrooms; 2 half bathrooms
• Interior features: 27 total rooms; Multiple units with varying levels (mix of one- and two-level units)

What this means for you Summary

Snapshot

• This is a 9 × 12-bed/7.0-bath units multifamily listed at $5.90M.

Deal economics

• At list price, monthly cash flow is $43 ($516/yr) — positive. Per door: $5/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 $4.46M (24.5% below list).
• Recommended offer: $4.46M (24.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.2% in Brookline — 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 84/100 on livability (#16 in MA, #704 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, cost of living F.
• Brookline (suburban): math 66% / reading 73% proficiency, ranked #29 of 302 in MA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Michael Driscoll (math 65% / reading 70%, grade B+, #94 of 938 statewide, top 10%, 456 students, 0% FRL); Brookline High (math 79% / reading 83%, grade A, #41 of 343 statewide, top 12%, 2,087 students, 0% FRL).
• Market conditions: Rents rising (+1.5%/yr); 97 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 958 units permitted in Norfolk County in 2024 (305 in 5+ unit buildings).

Forward outlook

• In year one you build about $631k of equity ($41k loan paydown + $590k appreciation (10.0% local appreciation)).
• Norfolk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 1.5% rent growth), your $1.65M cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$1.01M cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $4,456,000 (24.5% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.76% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $2,131,262
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1572 Beacon St	0.17mi	5/3.0	3,978 (+3%)	5mo	$2,200,000	$553	83
18 Milton Rd	0.64mi	6/3.5 (+1)	3,895 (+1%)	10mo	$1,900,000	$488	53
126 Westbourne Ter	0.49mi	6/2.0 (+1)	4,369 (+13%)	0mo	$2,200,000	$504	45
51 Naples	0.72mi	4/3.5 (-1)	4,009 (+4%)	10mo	$2,875,000	$717	45
65 Atherton Rd	0.42mi	6/3.5 (+1)	3,277 (-15%)	13mo	$2,650,000	$809	37

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

Projected returns pro-forma

10.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.90×
• Total profit: $3,145,685
• Equity at exit: $5,315,187

10-year hold

• IRR: 20.8%
• Equity multiple: 6.52×
• Total profit: $9,127,127
• Equity at exit: $11,462,402

Cash invested: $1,652,000 (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 02445

• Home prices YoY: 5.5%
• Rents YoY: 1.5%
• Active inventory: 97
• Price-to-rent: 99.3×

Monthly cashflow live

• Estimated rent: $44,560 medium
• Mortgage (P&I): −$30,940
• Tax from tax record: −$1,761 /mo · $21,130/yr
• Insurance: −$2,458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,358
• Net cashflow: $43

Break-even live

Break-even rent $44,506

Max offer price $5,900,000

Occupancy floor 95%

Sensitivity live

Price	-10% $3,383	-5% $1,713	+0% $43	+5% $-1,627	+10% $-3,297
Rent	-10% $-3,477	-5% $-1,717	+0% $43	+5% $1,803	+10% $3,563
Rate	-1.0pp $3,014	-0.5pp $1,544	base $43	+0.5pp $-1,486	+1.0pp $-3,041

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

Units	Beds	Baths	Est. rent
▸ 9× units	12	7	$44,559
Total (9 units)			$44,560

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: $1,475,000
• Closing costs: $177,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
161 Clinton Rd Brookline, MA	5.0	3.5	3494	$9,250	$2.65	45d	1	0.48mi
158 Cypress St Brookline, MA	6.0	3.0	3000	$7,500	$2.50	45d	1	0.68mi
69 Babcock St Brookline, MA	4.0	1.0–3.0	5274	$7,400	$1.40	22d	1	0.75mi
69 Babcock St Brookline, MA	4.0	1.0–3.0	5274	$6,900	$1.31	4d	2	0.75mi
58 Brook St Unit NA Brookline, MA	4.0	4.5	3150	$10,000	$3.17	26d	1	0.83mi
31 Saint Marys Ct Brookline, MA	5.0	2.0	3000	$7,200	$2.40	45d	1	1.35mi
29 Saint Marys Ct Brookline, MA	5.0	2.0	3000	$7,200	$2.40	45d	1	1.35mi

Listing history 7 events

1. 2026-06-21
   days on market $5,900,000 Active 10 DOM
2. 2026-06-18
   days on market $5,900,000 Active 7 DOM
3. 2026-06-17
   days on market $5,900,000 Active 6 DOM
4. 2026-06-16
   days on market $5,900,000 Active 5 DOM
5. 2026-06-15
   statusdays on market $5,900,000 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $5,900,000 New 2 DOM

ⓘ 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: $21,130 · $1,761/mo
• Projected year-2 tax: $46,850 · $3,904/mo
• Expected delta: +$25,720/yr (+$2,143/mo · 121.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $534,720
• − Mortgage interest: −$330,492
• − Property taxes: −$21,130
• − Insurance: −$29,500
• − Repairs & maintenance: −$42,778
• − Management: −$42,778
• − Depreciation: −$171,636
• Taxable loss: −$103,593
• Est. tax savings @ 24.0%: +$24,862
• After-tax cash flow: $25,378/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: Brookline
• NCES district ID: 2503150
• Math proficiency: 66% ▼ -8.00%
• Reading proficiency: 73% ▼ -4.00%
• Median HH income: $97,931
• Composite: 63.51/100
• National rank: #610
• State rank: #29 of 302 in MA

Livability — Brookline

• Score: 84/100
• State rank: #16
• US rank: #704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brookline, MA
• County: Norfolk County · 644,082 people
• City population: 76,871
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,560
• Household income: $139,747
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 1138.0

Population outlook (Norfolk County) Hauer SSP2

• Today (2025): 737,259 people
• By 2030: 755,213 · +2.4%
• By 2040: 786,961 · +6.7%
• By 2050: 813,019 · +10.3%
• By 2075: 861,214 · +16.8%
• By 2100: 845,063 · +14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 14% Two or more races 10% Hispanic / Latino 7% Black 4%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Scotch-Irish 6% Italian 4% Romanian 2%
• Foreign-born: 23% · Canada, China, South Korea
• Languages at home: 71% English-only · Chinese 6% Spanish 5% Other Indo-European 5%

Political lean MEDSL · Norfolk

• 2024 margin: Strong D (+28.8) · D 63.3% · R 34.6% · Other 2.1%
• 2008→2024 swing: +10.2pp toward D · 2008: 18.5pp · 2024: 28.8pp
• All cycles: 2024: D+28.8 2020: D+36.3 2016: D+27.9 2012: D+16.1 2008: D+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.27%
• Current HPI: 291.0769
• Rent YoY: ▲ 1.47%
• Metro: Boston-Cambridge-Newton, MA-NH
• 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

+173429.4% since first listed

5 events — show timeline

• 2026-06-11 Listed $5,900,000 MLS PIN
• 2026-06-11 Listed $5,900,000 MLS PIN
• 2024-11-22 Rental Removed $3,300 LISTANZA
• 2024-10-25 Price Changed $3,300 LISTANZA
• 2024-10-16 Listed for Rent $3,400 LISTANZA

Property tax history

+5.0%/yr

Latest (2023): $21,130 · +2.7% YoY. Source: county tax records.