41 Boston Rd #464 · Lowell, MA 01862

$333,270

2 bd · 1.5 ba · 1,092 sqft · Condo public records · 150 Days on market

Built 2013 $305/sqft · 31% below area Est $486k · 31% under $281/mo HOA · 10% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.6/30.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

DEED RESTRICTED AFFORDABLE SALE! Located at the highly desirable Barrett Farm community in North Billerica, this bright 2 bedroom,1.5 bath townhome spans over three floors. Additional features include Central HVAC, private back porch overlooking the back yard as well as a garage and off street parking. Timing of closing is subject to seller finding suitable housing. Home subject to affordable housing and resale restrictions. Income Limits Apply: 1 Person: $73,200; 2 Person: $83,650; 3 Person: $94,100; 4 Person - $104,550. Asset limit: $75,000. Must be first time homebuyer. Property must be owner occupied.

Key facts

• Central hvac
• Off street parking
• Private back porch

Tags

• PRIVATE BACK PORCH
• CENTRAL HVAC
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $333k.

Deal economics

• At list price, monthly cash flow is $-287 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (17.4% below list).
• Recommended offer: $275k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.9% in Lowell — 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 80/100 on livability (#36 in MA, #1,677 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• Billerica (suburban): math 36% / reading 51% proficiency, ranked #154 of 302 in MA (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Hajjar Elementary (math 47% / reading 57%, grade C-, #287 of 938 statewide, top 33%, 375 students, 0% FRL); Marshall Middle School (math 28% / reading 47%, grade F, #158 of 305 statewide, top 53%, 604 students, 0% FRL); Billerica Memorial High School (math 36% / reading 48%, grade F, #214 of 343 statewide, top 65%, 1,726 students, 0% FRL).
• Market conditions: 12 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).

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.
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($293k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $170k; list at $333k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $275,194 (17.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 F 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 10.1

CMA / ARV

• ARV (median comp): $486,193
• List price: $333,270
• Delta: -31.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.4%
• Equity multiple: 0.23×
• Total profit: $-72,147
• Equity at exit: $49,692

10-year hold

• IRR: -16.5%
• Equity multiple: 0.08×
• Total profit: $-85,801
• Equity at exit: $28,815

Cash invested: $93,316 (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 01862

• Home prices YoY: -32.7%
• Active inventory: 12
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,752 high
• Mortgage (P&I): −$1,748
• Tax from tax record: −$294 /mo · $3,522/yr
• Insurance: −$139
• HOA: −$281
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $-287

Break-even live

Break-even rent $3,115

Max offer price $282,564

Occupancy floor —

Sensitivity live

Price	-10% $-98	-5% $-193	+0% $-287	+5% $-381	+10% $-476
Rent	-10% $-504	-5% $-396	+0% $-287	+5% $-178	+10% $-70
Rate	-1.0pp $-119	-0.5pp $-202	base $-287	+0.5pp $-373	+1.0pp $-461

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: $83,318
• Closing costs: $9,998
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 Brick Kiln Rd Chelmsford, MA	2.0	1.0	540	$2,577	$4.77	0d	10	0.26mi
117 Gorham St Chelmsford, MA	3.0	1.0	1095	$3,000	$2.74	21d	1	0.51mi
2 Mason Ave Unit 1 North Billerica, MA	3.0	1.0	1016	$3,000	$2.95	12d	1	0.90mi
13 Sprague St Unit 13 North Billerica, MA	2.0	1.0	1230	$2,800	$2.28	45d	1	0.96mi
90 Wilson St North Billerica, MA	3.0	1.0	1250	$2,300	$1.84	12d	1	1.02mi
1524 Gorham St #209 Lowell, MA	2.0	1.0	857	$2,500	$2.92	45d	1	1.16mi
276 Mill Rd Chelmsford, MA	1.0–2.0	1.0–2.0	942	$3,299	$3.50	0d	9	1.22mi

HOA detail condo

• Monthly dues: $281 · $3,372/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $333,270 Active 150 DOM
2. 2026-06-18
   days on market $333,270 Active 147 DOM
3. 2026-06-17
   days on market $333,270 Active 146 DOM
4. 2026-06-16
   days on market $333,270 Active 145 DOM
5. 2026-06-15
   days on market $333,270 Active 144 DOM
6. 2026-06-13
   days on market $333,270 Active 142 DOM
7. 2026-06-09
   days on market $333,270 Active 138 DOM
8. 2026-06-08
   days on market $333,270 Active 137 DOM
9. 2026-06-07
   days on market $333,270 Active 136 DOM
10. 2026-06-04
    days on market $333,270 Active 133 DOM
11. 2026-06-03
    days on market $333,270 Active 132 DOM
12. 2026-06-02
    days on market $333,270 Active 131 DOM
13. 2026-06-01
    days on market $333,270 Active 130 DOM
14. 2026-05-31
    days on market $333,270 Active 129 DOM
15. 2026-01-22
    listed $333,270 New 628-char remark

    Show marketing remark (628 chars)

    DEED RESTRICTED AFFORDABLE SALE! Located at the highly desirable Barrett Farm community in North Billerica, this bright 2 bedroom,1.5 bath townhome spans over three floors. Additional features include Central HVAC, private back porch overlooking the back yard as well as a garage and off street parking. Timing of closing is subject to seller finding suitable housing. Home subject to affordable housing and resale restrictions. Income Limits Apply: 1 Person: $73,200; 2 Person: $83,650; 3 Person: $94,100; 4 Person - $104,550. Asset limit: $75,000. Must be first time homebuyer. Property must be owner occupied.

16. 2013-10-25
    soldstatus $170,000

ⓘ 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: $3,522 · $294/mo
• Projected year-2 tax: $3,811 · $318/mo
• Expected delta: +$289/yr (+$24/mo · 8.2%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,023
• − Mortgage interest: −$18,668
• − Property taxes: −$3,522
• − Insurance: −$1,666
• − Repairs & maintenance: −$2,642
• − Management: −$2,642
• − HOA: −$3,372
• − Depreciation: −$9,695
• Taxable loss: −$9,184
• Est. tax savings @ 24.0%: +$2,204
• After-tax cash flow: $-1,240/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: Billerica
• NCES district ID: 2502670
• Math proficiency: 36% ▼ -14.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $92,064
• Composite: 41.36/100
• National rank: #3494
• State rank: #154 of 302 in MA

Livability — Lowell

• Score: 80/100
• State rank: #36
• US rank: #1677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Middlesex County · 1,437,704 people
• City population: 100,628
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 12,129
• Household income: $138,571
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 317.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 1,740,269 people
• By 2030: 1,817,187 · +4.4%
• By 2040: 1,963,195 · +12.8%
• By 2050: 2,087,461 · +20.0%
• By 2075: 2,344,036 · +34.7%
• By 2100: 2,383,776 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Hispanic 6% Lithuanian 3% Estonian 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 79% English-only · Other Indo-European 8% Spanish 7% French/Haitian/Cajun 2%

Political lean MEDSL · Middlesex

• 2024 margin: Solid D (+39.5) · D 68.5% · R 29.0% · Other 2.5%
• 2008→2024 swing: +9.3pp toward D · 2008: 30.1pp · 2024: 39.5pp
• All cycles: 2024: D+39.5 2020: D+45.2 2016: D+38.1 2012: D+26.9 2008: D+30.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.25%
• Current HPI: 292.3284
• Rent YoY: —
• 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

+96.0% since first listed

2 events — show timeline

• 2026-01-22 Listed $333,270 MLS PIN
• 2013-10-25 Sold (Public Records) $170,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,522 · +14.9% YoY. Source: county tax records.