422 W Main St · North Adams, MA 01247

$149,900

2 bd · 1.0 ba · 953 sqft · SingleFamily public records · 17 Days on market

Built 1900 1.59 ac lot $157/sqft · 26% below area Est $204k · 26% 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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +4.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.9/10.0
• Schools +1.8/10.0

Listing remarks MLS

Cape-style 2 bedroom home with a low entry price and recent key updates already completed- including roof, siding, windows, and heating system. The home is livable as-is and offers a opportunity to build equity. Features include a deck, multiple sheds, and a manageable yard. With a little bit of hard work, this could be a nice home- perfect for someone looking to move in and improve over time in an affordable price range.

Key facts

• Multiple sheds
• Manageable yard
• Deck

Tags

• RECENT KEY UPDATES
• DECK
• MULTIPLE SHEDS
• MANAGEABLE YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (6.4% below list).
• Recommended offer: $140k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.8% in North Adams — 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 55/100 on livability (#242 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, schools F.
• North Adams (town): math 14% / reading 29% proficiency, ranked #291 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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 $16k; list at $150k implies a 837% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,318 (6.4% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.9

CMA / ARV

• ARV (median comp): $203,500
• List price: $149,900
• Delta: -26.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
458 West Main St	0.07mi	2/1.5	969 (+2%)	18mo	$139,000	$143	77
138 Richview Ave	0.26mi	3/1.0 (+1)	1,008 (+6%)	1mo	$200,000	$198	72
480 Main St	0.11mi	3/1.0 (+1)	1,002 (+5%)	12mo	$135,000	$135	72
8 Richview Ave	0.16mi	1/1.0 (-1)	1,061 (+11%)	12mo	$89,000	$84	59
39 Goodrich St	0.11mi	3/1.0 (+1)	864 (-9%)	22mo	$250,000	$289	55
84 West Main St	0.60mi	3/1.0 (+1)	1,064 (+12%)	5mo	$197,000	$185	44
271 Notch Rd	0.67mi	2/1.0	1,075 (+13%)	24mo	$249,000	$232	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-13,604
• Equity at exit: $22,351

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,810
• Equity at exit: $12,961

Cash invested: $41,972 (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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,403 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $168

Break-even live

Break-even rent $1,190

Max offer price $149,900

Occupancy floor 83%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Pebble St Apt B North Adams, MA	1.0	1.0	1049	$1,500	$1.43	43d	1	0.65mi
21-23 Lyman St Unit 21B North Adams, MA	2.0	1.0	725	$1,300	$1.79	14d	1	0.92mi
210 Eagle St Unit 1 North Adams, MA	2.0	1.0	1040	$1,300	$1.25	14d	1	1.21mi
132 E Quincy St Unit 3 North Adams, MA	2.0	1.0	800	$1,450	$1.81	13d	1	1.44mi

Listing history 16 events

1. 2026-05-06
   status Pending 425-char remark

   Show marketing remark (425 chars)

   Cape-style 2 bedroom home with a low entry price and recent key updates already completed- including roof, siding, windows, and heating system. The home is livable as-is and offers a opportunity to build equity. Features include a deck, multiple sheds, and a manageable yard. With a little bit of hard work, this could be a nice home- perfect for someone looking to move in and improve over time in an affordable price range.

2. 2026-04-29
   status Active 425-char remark

   Show marketing remark (425 chars)

   Cape-style 2 bedroom home with a low entry price and recent key updates already completed- including roof, siding, windows, and heating system. The home is livable as-is and offers a opportunity to build equity. Features include a deck, multiple sheds, and a manageable yard. With a little bit of hard work, this could be a nice home- perfect for someone looking to move in and improve over time in an affordable price range.

3. 2026-04-20
   historical 425-char remark

   Show marketing remark (425 chars)

   Cape-style 2 bedroom home with a low entry price and recent key updates already completed- including roof, siding, windows, and heating system. The home is livable as-is and offers a opportunity to build equity. Features include a deck, multiple sheds, and a manageable yard. With a little bit of hard work, this could be a nice home- perfect for someone looking to move in and improve over time in an affordable price range.

4. 2026-04-09
   listed $149,900 Active 425-char remark

   Show marketing remark (425 chars)

   Cape-style 2 bedroom home with a low entry price and recent key updates already completed- including roof, siding, windows, and heating system. The home is livable as-is and offers a opportunity to build equity. Features include a deck, multiple sheds, and a manageable yard. With a little bit of hard work, this could be a nice home- perfect for someone looking to move in and improve over time in an affordable price range.

5. 2010-02-04
   soldstatus $16,000 110-char remark

   Show marketing remark (110 chars)

   Adorable house move in condition, priced way below assessed value. No off st. parking but could be worked out.

6. 2009-10-29
   listed $21,500 110-char remark

   Show marketing remark (110 chars)

   Adorable house move in condition, priced way below assessed value. No off st. parking but could be worked out.

7. 2009-10-08
   historical
8. 2009-04-08
   listed $37,400
9. 2009-03-30
   historical
10. 2008-09-30
    listed $52,500
11. 2007-11-21
    soldstatus $16,500
12. 2007-11-21
    soldstatus $16,500
13. 2007-04-27
    listed $18,699
14. 2006-10-08
    historical
15. 2006-04-08
    listed $49,900
16. 1988-09-07
    soldstatus $45,877

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $1,471 · $123/mo
• Expected delta: +$372/yr (+$31/mo · 33.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 9 d/yr ≥92°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,838
• − Mortgage interest: −$8,397
• − Property taxes: −$1,099
• − Insurance: −$750
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − Depreciation: −$4,361
• Taxable loss: −$462
• Est. tax savings @ 24.0%: +$111
• After-tax cash flow: $2,131/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: North Adams
• NCES district ID: 2508670
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $36,746
• Composite: 17.83/100
• National rank: #9006
• State rank: #291 of 302 in MA

Livability — North Adams

• Score: 55/100
• State rank: #242
• US rank: #23506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Adams, MA
• City population: 14,967
• Population (ZIP): 14,967

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 15% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 0%

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: ▼ -6.22%
• Current HPI: 298.8949
• Rent YoY: —
• Metro: —
• 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

+226.7% since first listed

16 events — show timeline

• 2026-05-06 Pending — BCMLS
• 2026-04-29 Relisted — BCMLS
• 2026-04-20 Listing Removed — BCMLS
• 2026-04-09 Listed $149,900 BCMLS
• 2010-02-04 Sold (MLS) $16,000 BCMLS
• 2009-10-29 Listed $21,500 BCMLS
• 2009-10-08 Listing Removed — BCMLS
• 2009-04-08 Listed $37,400 BCMLS
• 2009-03-30 Listing Removed — BCMLS
• 2008-09-30 Listed $52,500 BCMLS
• 2007-11-21 Sold (Public Records) $16,500 Public Records
• 2007-11-21 Sold (MLS) $16,500 MLS PIN
• 2007-04-27 Listed $18,699 MLS PIN
• 2006-10-08 Listing Removed — BCMLS
• 2006-04-08 Listed $49,900 BCMLS
• 1988-09-07 Sold (Public Records) $45,877 Public Records

Property tax history

+3.7%/yr

Latest (2023): $1,099 · +7.2% YoY. Source: county tax records.