13 Walker Rd #12 · North Andover, MA 01845

$278,000

3 bd · 1.0 ba · 634 sqft · Condo public records · 58 Days on market

Built 1968 $438/sqft · 8% below area Est $303k · 8% under $357/mo HOA · 11% of rent

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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 +22.9/30.0
• ARV discount +11.2/15.0
• DSCR +7.4/10.0
• 1% rule +7.0/10.0
• Schools +4.8/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Meadow View Estates! Privately set toward the back of the community, this bright and inviting one-bedroom condo features an open floor plan and abundant natural light. The eat-in kitchen features attractive cabinetry, granite countertops, and stainless steel appliances, flowing into a spacious living room with a private balcony overlooking peaceful natural surroundings. The bedroom offers a generous closet, and the full bath presents an opportunity for personal updates. Additional attic storage adds convenience. Enjoy great amenities including an in-ground pool, tennis, and basketball courts. Quiet location yet close to Merrimack College, shopping, and major routes. Excellent investment opportunity—property is tenant-occupied, and the tenant would love to stay.

Key facts

• Open floor plan
• Generous closet
• Private balcony

Tags

• OPEN FLOOR PLAN
• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PRIVATE BALCONY
• GENEROUS CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $278k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $278k).
• Recommended offer: $270k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• North Andover (suburban): math 46% / reading 55% proficiency, ranked #100 of 302 in MA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.5%/yr); 27 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,032 units permitted in Essex County in 2024 (590 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 $8k of value loss. Plan a longer hold.
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($270k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $170k; list at $278k implies a 64% 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 $269,660 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• GRM: 6.9

CMA / ARV

• ARV (median comp): $302,609
• List price: $278,000
• Delta: -8.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-15,268
• Equity at exit: $41,451

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $21,124
• Equity at exit: $24,036

Cash invested: $77,840 (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 01845

• Rents YoY: 2.5%
• Active inventory: 27
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,348 medium
• Mortgage (P&I): −$1,458
• Tax from tax record: −$224 /mo · $2,692/yr
• Insurance: −$116
• HOA: −$357
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $490

Break-even live

Break-even rent $2,728

Max offer price $278,000

Occupancy floor 80%

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: $69,500
• Closing costs: $8,340
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 High St North Andover, MA	3.0	1.0–2.0	1043	$3,890	$3.73	1d	1	0.31mi
495 Sutton St North Andover, MA	2.0	1.0–2.0	820	$3,405	$4.15	1d	10	0.55mi
41 Farrwood Ave #9 North Andover, MA	2.0	1.0	750	$2,300	$3.07	43d	1	1.27mi
70 Farrwood Ave #9 North Andover, MA	2.0	1.0	750	$2,200	$2.93	16d	1	1.34mi

HOA detail condo

• Monthly dues: $357 · $4,284/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $278,000 Active 58 DOM
2. 2026-06-17
   days on market $278,000 Active 57 DOM
3. 2026-06-16
   days on market $278,000 Active 56 DOM
4. 2026-06-15
   days on market $278,000 Active 55 DOM
5. 2026-06-13
   days on market $278,000 Active 53 DOM
6. 2026-06-09
   days on market $278,000 Active 49 DOM
7. 2026-06-08
   days on market $278,000 Active 48 DOM
8. 2026-06-07
   days on market $278,000 Active 47 DOM
9. 2026-06-04
   days on market $278,000 Active 44 DOM
10. 2026-06-03
    days on market $278,000 Active 43 DOM
11. 2026-06-02
    days on market $278,000 Active 42 DOM
12. 2026-06-01
    days on market $278,000 Active 41 DOM
13. 2026-05-31
    days on market $278,000 Active 40 DOM
14. 2026-04-21
    listed $278,000 New 788-char remark

    Show marketing remark (788 chars)

    Welcome to Meadow View Estates! Privately set toward the back of the community, this bright and inviting one-bedroom condo features an open floor plan and abundant natural light. The eat-in kitchen features attractive cabinetry, granite countertops, and stainless steel appliances, flowing into a spacious living room with a private balcony overlooking peaceful natural surroundings. The bedroom offers a generous closet, and the full bath presents an opportunity for personal updates. Additional attic storage adds convenience. Enjoy great amenities including an in-ground pool, tennis, and basketball courts. Quiet location yet close to Merrimack College, shopping, and major routes. Excellent investment opportunity—property is tenant-occupied, and the tenant would love to stay.

15. 2018-05-30
    soldstatus $170,000
16. 2018-05-29
    soldstatus $170,000 Sold 424-char remark

    Show marketing remark (424 chars)

    Welcome to Walker Drive North Andover. This renovated condo is sure to please and is “move in” ready. Kitchen and bathroom recently updated with new SS appliances. Rugs have been professionally cleaned. Condo is perfect for those starting out or sizing down. Onsite pool, tennis and basketball. Exterior maintenance included with fees, no more shoveling or mowing of lawn. Convenient location and area amenities.

17. 2018-05-01
    status Under Agreement 424-char remark

    Show marketing remark (424 chars)

    Welcome to Walker Drive North Andover. This renovated condo is sure to please and is “move in” ready. Kitchen and bathroom recently updated with new SS appliances. Rugs have been professionally cleaned. Condo is perfect for those starting out or sizing down. Onsite pool, tennis and basketball. Exterior maintenance included with fees, no more shoveling or mowing of lawn. Convenient location and area amenities.

18. 2018-04-16
    listed $174,999 New 424-char remark

    Show marketing remark (424 chars)

    Welcome to Walker Drive North Andover. This renovated condo is sure to please and is “move in” ready. Kitchen and bathroom recently updated with new SS appliances. Rugs have been professionally cleaned. Condo is perfect for those starting out or sizing down. Onsite pool, tennis and basketball. Exterior maintenance included with fees, no more shoveling or mowing of lawn. Convenient location and area amenities.

19. 2005-10-27
    soldstatus $158,900
20. 2005-10-27
    soldstatus $158,900
21. 2005-10-26
    historical
22. 2005-07-28
    listed $159,900
23. 2003-04-30
    soldstatus $122,500
24. 2000-11-28
    soldstatus $88,500
25. 1999-11-08
    soldstatus $61,000

ⓘ 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: $2,692 · $224/mo
• Projected year-2 tax: $3,056 · $255/mo
• Expected delta: +$364/yr (+$30/mo · 13.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥95°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: $40,175
• − Mortgage interest: −$15,572
• − Property taxes: −$2,692
• − Insurance: −$1,390
• − Repairs & maintenance: −$3,214
• − Management: −$3,214
• − HOA: −$4,284
• − Depreciation: −$8,087
• Taxable income: $1,721
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $5,465/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 Andover
• NCES district ID: 2508700
• Math proficiency: 46% ▼ -17.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $96,656
• Composite: 47.63/100
• National rank: #2251
• State rank: #100 of 302 in MA

Livability — North Andover

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

Census & demographics

• County: Essex County · 632,995 people
• City population: 32,494
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 32,494
• Household income: $140,670
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 931.0

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Asian 6% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 5% Romanian 4% Russian 2%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 4% Chinese 2%

Political lean MEDSL · Essex

• 2024 margin: Strong D (+20.3) · D 59.2% · R 38.9% · Other 1.9%
• 2008→2024 swing: 0.0pp no change · 2008: 20.3pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+29.1 2016: D+22.5 2012: D+16.2 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -522.04%
• Current HPI: 266.3979
• Rent YoY: ▲ 2.52%
• 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

+355.7% since first listed

12 events — show timeline

• 2026-04-21 Listed $278,000 MLS PIN
• 2018-05-30 Sold (Public Records) $170,000 Public Records
• 2018-05-29 Sold (MLS) $170,000 MLS PIN
• 2018-05-01 Pending — MLS PIN
• 2018-04-16 Listed $174,999 MLS PIN
• 2005-10-27 Sold (Public Records) $158,900 Public Records
• 2005-10-27 Sold (MLS) $158,900 MLS PIN
• 2005-10-26 Listing Removed — MLS PIN
• 2005-07-28 Listed $159,900 MLS PIN
• 2003-04-30 Sold (Public Records) $122,500 Public Records
• 2000-11-28 Sold (Public Records) $88,500 Public Records
• 1999-11-08 Sold (Public Records) $61,000 Public Records

Property tax history

+5.0%/yr

Latest (2023): $2,692 · +7.5% YoY. Source: county tax records.