40-42 Henry Ave · Pittsfield, MA 01201

$320,000

6 bd · 44.0 ba · 7,773 sqft · MultiFamily public records · 39 Days on market

Built 1880 5,227 sqft lot Est $482k · 34% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 (5+ Unit). Listing-text estimate: 11 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

ATTENTION ALL INVESTORS AND OWNER OCCUPANTS! GREAT MULTI FAMILY LOCATED IN A BEAUTIFUL PITTSFILED NEIGHBORHOOD. This home has 6 bedrooms with 4 full bathrooms. Beautiful backyard with enclosed patio, plenty of land space. Perfectly located near major highways, parks, shopping, restaurants, hospitals, and much more. Plan your visit to see this home today.

Key facts

• 5,227 sq ft lot
• Built 1880
• Listed 39 days

What this means for you Summary

Snapshot

• This is a 11 × 1-bed/?-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $10k ($114k/yr) — positive. Per door: $867/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Cap rate 42.0% 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+, crime 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.
• Zoned schools: Crosby (math 2% / reading 17%, grade F, #914 of 938 statewide, top 98%, 270 students, 0% FRL); John T Reid Middle (math 7% / reading 17%, grade F, #283 of 305 statewide, top 93%, 450 students, 0% FRL); Taconic High (math 27% / reading 37%, grade F, #255 of 343 statewide, top 77%, 860 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.7%/yr); 276 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $14,813/mo this rent would consume 250% 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 $2k of loan paydown is wiped out by about $10k 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 $90k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 29y 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 $245k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $310,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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: 4.63% ✓
• Cap rate: 42.04%
• Cash-on-cash: 127.66%
• DSCR: 6.68
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $481,926
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 Second St	0.66mi	6/6.0	6,816 (-12%)	22mo	$425,000	$62	10

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: —
• Equity multiple: 8.02×
• Total profit: $629,133
• Equity at exit: $47,713

10-year hold

• IRR: —
• Equity multiple: 19.57×
• Total profit: $1,663,814
• Equity at exit: $27,668

Cash invested: $89,600 (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: 19.8×

Monthly cashflow live

• Estimated rent: $14,813 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$359 /mo · $4,307/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,111
• Net cashflow: $9,532

Break-even live

Break-even rent $2,747

Max offer price $320,000

Occupancy floor 31%

Sensitivity live

Price	-10% $9,713	-5% $9,622	+0% $9,532	+5% $9,441	+10% $9,351
Rent	-10% $8,362	-5% $8,947	+0% $9,532	+5% $10,117	+10% $10,702
Rate	-1.0pp $9,693	-0.5pp $9,613	base $9,532	+0.5pp $9,449	+1.0pp $9,365

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

Units	Beds	Baths	Est. rent
▸ 11× units	1	—	$14,817
Total (11 units)			$14,813

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-03-30
   status Pending
2. 2026-02-17
   listed $320,000 Active
3. 2023-09-11
   soldstatus $245,000 Closed 358-char remark

   Show marketing remark (358 chars)

   ATTENTION ALL INVESTORS AND OWNER OCCUPANTS! GREAT MULTI FAMILY LOCATED IN A BEAUTIFUL PITTSFILED NEIGHBORHOOD. This home has 6 bedrooms with 4 full bathrooms. Beautiful backyard with enclosed patio, plenty of land space. Perfectly located near major highways, parks, shopping, restaurants, hospitals, and much more. Plan your visit to see this home today.

4. 2023-08-07
   status Pending 358-char remark

   Show marketing remark (358 chars)

   ATTENTION ALL INVESTORS AND OWNER OCCUPANTS! GREAT MULTI FAMILY LOCATED IN A BEAUTIFUL PITTSFILED NEIGHBORHOOD. This home has 6 bedrooms with 4 full bathrooms. Beautiful backyard with enclosed patio, plenty of land space. Perfectly located near major highways, parks, shopping, restaurants, hospitals, and much more. Plan your visit to see this home today.

5. 2023-07-21
   listed $255,000 Active 358-char remark

   Show marketing remark (358 chars)

   ATTENTION ALL INVESTORS AND OWNER OCCUPANTS! GREAT MULTI FAMILY LOCATED IN A BEAUTIFUL PITTSFILED NEIGHBORHOOD. This home has 6 bedrooms with 4 full bathrooms. Beautiful backyard with enclosed patio, plenty of land space. Perfectly located near major highways, parks, shopping, restaurants, hospitals, and much more. Plan your visit to see this home today.

6. 2022-12-31
   historical
7. 2022-10-09
   price $250,000
8. 2022-09-08
   price $265,000
9. 2022-08-01
   price $285,000
10. 2022-06-28
    status Active
11. 2022-06-09
    status Pending
12. 2022-06-09
    historical
13. 2022-06-01
    listed $250,000 Active
14. 2022-06-01
    listed $295,000 Active
15. 2015-03-22
    historical
16. 2015-01-23
    listed $145,000
17. 2013-07-23
    soldstatus $132,500
18. 2013-05-07
    listed $139,900
19. 1998-09-25
    soldstatus $75,000
20. 1998-09-25
    soldstatus $75,000
21. 1998-09-25
    soldstatus $75,000
22. 1997-08-04
    listed $84,900
23. 1993-11-30
    soldstatus $34,500

ⓘ 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: $4,307 · $359/mo
• Projected year-2 tax: $4,307 · $359/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $177,756
• − Mortgage interest: −$17,925
• − Property taxes: −$4,307
• − Insurance: −$1,600
• − Repairs & maintenance: −$14,220
• − Management: −$14,220
• − Depreciation: −$9,309
• Taxable income: $116,174
• Est. tax owed @ 24.0%: −$27,882
• After-tax cash flow: $86,501/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

+827.5% since first listed

23 events — show timeline

• 2026-03-30 Pending — BCMLS
• 2026-02-17 Listed $320,000 BCMLS
• 2023-09-11 Sold (MLS) $245,000 BCMLS
• 2023-08-07 Pending — BCMLS
• 2023-07-21 Listed $255,000 BCMLS
• 2022-12-31 Listing Removed — BCMLS
• 2022-10-09 Price Changed $250,000 BCMLS
• 2022-09-08 Price Changed $265,000 BCMLS
• 2022-08-01 Price Changed $285,000 BCMLS
• 2022-06-28 Relisted — BCMLS
• 2022-06-09 Pending — BCMLS
• 2022-06-09 Listing Removed — BCMLS
• 2022-06-01 Listed $295,000 BCMLS
• 2022-06-01 Listed $250,000 BCMLS
• 2015-03-22 Listing Removed — BCMLS
• 2015-01-23 Listed $145,000 BCMLS
• 2013-07-23 Sold (MLS) $132,500 BCMLS
• 2013-05-07 Listed $139,900 BCMLS
• 1998-09-25 Sold (Public Records) $75,000 Public Records
• 1998-09-25 Sold (Public Records) $75,000 Public Records
• 1998-09-25 Sold (MLS) $75,000 BCMLS
• 1997-08-04 Listed $84,900 BCMLS
• 1993-11-30 Sold (Public Records) $34,500 Public Records

Property tax history

+3.5%/yr

Latest (2023): $4,307 · +4.1% YoY. Source: county tax records.