15 High St · Pittsfield, MA 01201

$235,000

3 bd · 2.0 ba · 1,776 sqft · MultiFamily public records · 28 Days on market

Built 1900 4,792 sqft lot Est $243k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +9.0/15.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Two family flat, both units updated. Walking distance to downtown business district and area amenities. Second floor unit does not have a second egress.

Key facts

• Ample natural light
• Two-family flat
• Investment potential

Tags

• TWO-FAMILY FLAT
• INVESTMENT POTENTIAL
• WALKING DISTANCE TO BANKING
• WALKING DISTANCE TO SHOPS
• SEPARATE LIVING AREAS
• AMPLE NATURAL LIGHT

Property features AI

Finance

• Financial info: One unit listed with a rent of $900

Exterior

• Parking: Curbside/public parking access
• Utilities: Public sewer
• Home design: Single property (building total area listed)
• Construction: Asphalt roof; Building total area about 1776
• Exterior features: Front porch; Curbside recycling; Public trash service; Public bus access; School bus access

Interior

• Kitchen: Refrigerator
• Bedrooms: Unit with 1 bedroom (rent unit described as family member)
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating; Electric heating; Natural gas heating
• Interior features: Cable available; Accessible bedroom; First-floor bedroom with bath; Accessible full bathroom
• Laundry & utility: In-unit laundry (washer and dryer)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $518/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.0% 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: Egremont (math 37% / reading 52%, grade F, #421 of 938 statewide, top 48%, 382 students, 0% FRL); Theodore Herberg Middle (math 17% / reading 34%, grade F, #232 of 305 statewide, top 76%, 496 students, 0% FRL); Pittsfield High (math 32% / reading 57%, grade F, #203 of 343 statewide, top 60%, 651 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); 278 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $3,315/mo this rent would consume 56% 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 $7k 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 $66k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y 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 $152k; list at $235k implies a 55% 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 $231,475 (1.5% below list)

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 1900 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.90%
• DSCR: 1.84
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $243,312
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70-72 Elm St	0.05mi	4/2.0 (+1)	1,780 (+0%)	4mo	$282,710	$159	88
79 Center St	0.69mi	3/3.0	1,603 (-10%)	4mo	$220,000	$137	44
5-7 Wallace Pl	0.51mi	4/2.0 (+1)	1,964 (+11%)	12mo	$250,000	$127	43

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: 15.9%
• Equity multiple: 1.68×
• Total profit: $44,446
• Equity at exit: $35,039

10-year hold

• IRR: 27.7%
• Equity multiple: 4.02×
• Total profit: $198,420
• Equity at exit: $20,319

Cash invested: $65,800 (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: 278
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,315 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$252 /mo · $3,026/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $1,036

Break-even live

Break-even rent $2,003

Max offer price $235,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,169	-5% $1,103	+0% $1,036	+5% $970	+10% $903
Rent	-10% $775	-5% $905	+0% $1,036	+5% $1,167	+10% $1,298
Rate	-1.0pp $1,155	-0.5pp $1,096	base $1,036	+0.5pp $976	+1.0pp $914

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,314
Total (2 units)			$3,315

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Lincoln St Unit 117 Pittsfield, MA	4.0	2.0	1500	$2,000	$1.33	45d	1	0.74mi
19 Atwood Ave Pittsfield, MA	3.0	1.0	1350	$1,600	$1.19	45d	1	0.79mi
76 Stoddard Ave Unit 78 Pittsfield, MA	4.0	1.5	1560	$2,000	$1.28	45d	1	1.03mi
88 Wahconah St Pittsfield, MA	4.0	1.5	1292	$2,300	$1.78	45d	1	1.25mi

Listing history 18 events

1. 2026-05-01
   status Pending
2. 2026-04-13
   status Active
3. 2026-03-27
   status Pending
4. 2026-03-17
   listed $235,000 Active
5. 2022-01-28
   soldstatus $152,000 154-char remark

   Show marketing remark (154 chars)

   Two family flat, both units updated. Walking distance to downtown business district and area amenities. Second floor unit does not have a second egress.

6. 2021-09-02
   historical
7. 2021-06-03
   historical
8. 2021-04-23
   historical
9. 2021-02-24
   listed $159,900 154-char remark

   Show marketing remark (154 chars)

   Two family flat, both units updated. Walking distance to downtown business district and area amenities. Second floor unit does not have a second egress.

10. 2021-02-24
    listed $159,900

    Show marketing remark (154 chars)

    Two family flat, both units updated. Walking distance to downtown business district and area amenities. Second floor unit does not have a second egress.

11. 2021-02-24
    listed $159,900

    Show marketing remark (154 chars)

    Two family flat, both units updated. Walking distance to downtown business district and area amenities. Second floor unit does not have a second egress.

12. 2021-02-24
    listed $159,900

    Show marketing remark (154 chars)

    Two family flat, both units updated. Walking distance to downtown business district and area amenities. Second floor unit does not have a second egress.

13. 2020-11-04
    historical
14. 2020-09-06
    listed $154,900
15. 2000-01-03
    soldstatus $65,900
16. 2000-01-03
    soldstatus $65,900
17. 1999-03-26
    listed $65,900
18. 1992-03-04
    soldstatus $58,000

ⓘ 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: $3,026 · $252/mo
• Projected year-2 tax: $3,026 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,780
• − Mortgage interest: −$13,164
• − Property taxes: −$3,026
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,182
• − Management: −$3,182
• − Depreciation: −$6,836
• Taxable income: $9,214
• Est. tax owed @ 24.0%: −$2,211
• After-tax cash flow: $10,225/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

+305.2% since first listed

18 events — show timeline

• 2026-05-01 Pending — BCMLS
• 2026-04-13 Relisted — BCMLS
• 2026-03-27 Pending — BCMLS
• 2026-03-17 Listed $235,000 BCMLS
• 2022-01-28 Sold (MLS) $152,000 BCMLS
• 2021-09-02 Listing Removed — BCMLS
• 2021-06-03 Listing Removed — BCMLS
• 2021-04-23 Listing Removed — BCMLS
• 2021-02-24 Listed $159,900 BCMLS
• 2021-02-24 Listed $159,900 BCMLS
• 2021-02-24 Listed $159,900 BCMLS
• 2021-02-24 Listed $159,900 BCMLS
• 2020-11-04 Listing Removed — BCMLS
• 2020-09-06 Listed $154,900 BCMLS
• 2000-01-03 Sold (Public Records) $65,900 Public Records
• 2000-01-03 Sold (MLS) $65,900 BCMLS
• 1999-03-26 Listed $65,900 BCMLS
• 1992-03-04 Sold (Public Records) $58,000 Public Records

Property tax history

+7.1%/yr

Latest (2023): $3,026 · +2.9% YoY. Source: county tax records.