2-6 Pond Ter · Millbury, MA 01527

$489,900

9 bd · 9.0 ba · 1,440 sqft · MultiFamily · 8 Days on market

Built 1950 Good condition 3,220 sqft lot

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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 +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Rare opportunity to own a truly unique multifamily property featuring three standalone cottages directly across from Dorothy Pond in Millbury! Each cottage offers comfortable single-level living with its own bedroom, living room, kitchen, bath, in-unit laundry, and dedicated off-street parking space. Residents will enjoy beautiful water views! Recent updates include a mini-split replacement in Unit 6 (2023), while the mini-splits in Units 2 and 4 were serviced in 2025. Whether you're looking to expand your investment portfolio or own a one-of-a-kind income-producing property in a desirable lakeside setting, this is an opportunity you won't want to miss.

Key facts

• Water views
• Multifamily property
• In-unit laundry

Tags

• MULTIFAMILY PROPERTY
• THREE STANDALONE COTTAGES
• SINGLE-LEVEL LIVING
• IN-UNIT LAUNDRY
• DEDICATED OFF-STREET PARKING
• WATER VIEWS

Property features AI

Finance

• HOA & community: Community features: walk/jog trails, public school

Exterior

• Parking: Off-street, unpaved parking; 3 open parking spaces (total 3 spaces)
• Utilities: Public water; Public sewer; Electric with circuit breakers and 100 amp service; Electric hookups for range and dryer
• Home design: 3-family property; 3 stories; Above-grade finished area approx. 1440; Thermostat (energy efficient feature)
• Construction: Frame construction; Slab foundation; Shingle roof; Year built per public records
• Exterior features: Cleared, level lot; Paved road access; Lake/pond frontage/view; Has waterview (pond)

Interior

• Kitchen: Range; Refrigerator; Stone/granite/solid counters
• Bedrooms: Three 1-level units (unit-level details indicate each unit is single-level)
• Flooring: Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heat pump (provides heating and cooling); Electric heating
• Interior features: Stone/granite/solid counters; Bathroom with tub and shower; Living room; Kitchen; Insulated doors; Insulated windows; Total of 9 rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $490k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $894/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $490k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Millbury (suburban): math 35% / reading 45% proficiency, ranked #191 of 302 in MA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; high-income renter base; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $7,679/mo this rent would consume 78% of the median local household income ($119k/yr) (locally 238% 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $137k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $489,900

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 1950 — 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. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.45%
• DSCR: 2.04
• GRM: 5.3

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: 16.5%
• Equity multiple: 1.67×
• Total profit: $91,474
• Equity at exit: $73,046

10-year hold

• IRR: 25.1%
• Equity multiple: 3.19×
• Total profit: $299,983
• Equity at exit: $42,358

Cash invested: $137,172 (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 01527

• Home prices YoY: -29.8%
• Active inventory: 23
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $7,679 medium
• Mortgage (P&I): −$2,569
• Tax est. 1.5%: −$612 /mo · $7,348/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,613
• Net cashflow: $2,681

Break-even live

Break-even rent $4,286

Max offer price $489,900

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,680
Total (3 units)			$7,679

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $489,900 Active 8 DOM
2. 2026-06-17
   days on market $489,900 Active 7 DOM
3. 2026-06-15
   statusdays on market $489,900 Active 5 DOM
4. 2026-06-14
   remarks 661-char remark
5. 2026-06-14
   listed $489,900 New 3 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,148
• − Mortgage interest: −$27,442
• − Property taxes: −$7,348
• − Insurance: −$2,450
• − Repairs & maintenance: −$7,372
• − Management: −$7,372
• − Depreciation: −$14,252
• Taxable income: $25,913
• Est. tax owed @ 24.0%: −$6,219
• After-tax cash flow: $25,951/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multifamily property features three standalone cottages with recent updates to mini-splits and is in good condition, ready for a new owner.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value.
• Both Clean gutters — Improves drainage and property value.
• Both Replace mini-splits if needed — Ensures efficient heating and cooling, improving comfort and property value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Both Clean gutters — Improves drainage and property value. ↑
• Both Replace mini-splits if needed — Ensures efficient heating and cooling, improving comfort and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Millbury
• NCES district ID: 2507890
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $71,881
• Composite: 36.55/100
• National rank: #4640
• State rank: #191 of 302 in MA

Livability — Millbury

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Worcester County · 487,911 people
• City population: 13,961
• Metro: Worcester, MA-CT
• Population (ZIP): 13,961
• Household income: $118,790
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 238.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 850,858 people
• By 2030: 860,403 · +1.1%
• By 2040: 869,902 · +2.2%
• By 2050: 869,110 · +2.1%
• By 2075: 870,120 · +2.3%
• By 2100: 829,703 · -2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 10% Hispanic / Latino 5% Asian 5%
• Hispanic origin (detail): Dominican 1%
• Common ancestry: Lithuanian 12% Romanian 9% Russian 3%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Other Indo-European 6% Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Worcester

• 2024 margin: D (+10.0) · D 53.9% · R 43.9% · Other 2.2%
• 2008→2024 swing: -3.8pp toward R · 2008: 13.8pp · 2024: 10.0pp
• All cycles: 2024: D+10.0 2020: D+17.8 2016: D+10.5 2012: D+9.2 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.98%
• Current HPI: 271.2616
• Rent YoY: —
• Metro: Worcester, MA-CT
• 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

• 2026-06-10 Listed $489,900 MLS PIN