40 Pecks Rd · Pittsfield, MA 01201

$830,000

12 bd · 1.0 ba · 18,000 sqft · MultiFamily · 11 Days on market

Built 1900 Poor condition 1.10 ac lot $46/sqft · 10% below area Est $939k · 12% under

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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
• ARV discount +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Schools +2.3/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Don’t be late for this redevelopment opportunity! 18,000 Sqft on 1.1 Acres. Structurally sound property offers a rare opportunity to transform a historic space into a vibrant new community. Preliminary estimates suggest the potential for 12 residential units, with ample room for parking and green space. Featuring solid brick construction. Expansive windows, high ceilings, and open floor plans, this property is ideal for adaptive reuse into loft-style apartments, townhomes, or mixed-use development. Conveniently located in a growing area with access to local amenities, schools, and transportation. this site is primed for investors and developers seeking their next project. Don’t

Key facts

• Historic space
• Expansive windows
• Open floor plans

Tags

• REDEVELOPMENT OPPORTUNITY
• HISTORIC SPACE
• SOLID BRICK CONSTRUCTION
• EXPANSIVE WINDOWS
• HIGH CEILINGS
• OPEN FLOOR PLANS

Property features AI

Finance

• Other: Building total area reported as 18,000; 3 total levels reported
• Financial info: Annual tax listed (see listing for amount and details)
• HOA & community: Not a senior community

Exterior

• Parking: Open parking available; Approximately 50 parking spaces
• Utilities: Public water; Public sewer
• Home design: 5-9 family multi-unit building; 3 stories
• Construction: Built as recorded in public records (year approximate); Block foundation
• Exterior features: Paved driveway; Approximately 1.1-acre lot

Interior

• Bathrooms: 1 full bathroom
• Interior features: 15 total rooms; Unit 1 is a single-level unit; Unit 2 lease not occupied (no active lease indicated)

What this means for you Summary

Snapshot

• This is a 12-bed/1.0-bath multifamily listed at $830k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $9k ($103k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $830k).
• Cap rate 18.7% vs local median 3.6% 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+, schools 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.
• Market conditions: Rents rising fast (+7.7%/yr); 276 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $18,129/mo this rent would consume 306% 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 $6k of loan paydown is wiped out by about $25k 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 $232k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $830,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.18% ✓
• Cap rate: 18.71%
• Cash-on-cash: 44.33%
• DSCR: 2.97
• GRM: 3.8

CMA / ARV

• ARV (median comp): $938,701
• List price: $830,000
• Delta: -11.05%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 46.6%
• Equity multiple: 3.16×
• Total profit: $502,816
• Equity at exit: $123,756

10-year hold

• IRR: 54.4%
• Equity multiple: 7.67×
• Total profit: $1,551,192
• Equity at exit: $71,763

Cash invested: $232,400 (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: 276
• Price-to-rent: 45.8×

Monthly cashflow live

• Estimated rent: $18,129 medium
• Mortgage (P&I): −$4,353
• Tax est. 1.5%: −$1,038 /mo · $12,450/yr
• Insurance: −$346
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,807
• Net cashflow: $8,586

Break-even live

Break-even rent $7,261

Max offer price $830,000

Occupancy floor 48%

Sensitivity live

Price	-10% $9,160	-5% $8,873	+0% $8,586	+5% $8,299	+10% $8,012
Rent	-10% $7,154	-5% $7,870	+0% $8,586	+5% $9,302	+10% $10,018
Rate	-1.0pp $9,004	-0.5pp $8,797	base $8,586	+0.5pp $8,371	+1.0pp $8,152

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$18,132
Total (12 units)			$18,129

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: $207,500
• Closing costs: $24,900
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $830,000 Active 11 DOM
2. 2026-06-18
   days on market $830,000 Active 10 DOM
3. 2026-06-17
   days on market $830,000 Active 9 DOM
4. 2026-06-16
   days on market $830,000 Active 8 DOM
5. 2026-06-15
   days on market $830,000 Active 7 DOM
6. 2026-06-14
   days on market $830,000 Active 5 DOM
7. 2026-06-12
   statusdays on market $830,000 Active 4 DOM
8. 2026-06-09
   pricestatusdays on marketlisting id $830,000 New 1 DOM
9. 2026-06-02
   days on market $835,000 Active 91 DOM
10. 2026-06-01
    days on market $835,000 Active 90 DOM
11. 2026-05-31
    days on market $835,000 Active 89 DOM
12. 2026-05-30
    days on market $835,000 Active 88 DOM
13. 2026-04-17
    price $835,000 822-char remark
14. 2026-03-03
    listed $850,000 New 822-char remark

ⓘ 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

• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $217,548
• − Mortgage interest: −$46,493
• − Property taxes: −$12,450
• − Insurance: −$4,150
• − Repairs & maintenance: −$17,404
• − Management: −$17,404
• − Depreciation: −$24,145
• Taxable income: $95,502
• Est. tax owed @ 24.0%: −$22,920
• After-tax cash flow: $80,111/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

Poor 20/100 Extensive rehab

This property requires extensive renovations and repairs to bring it up to modern standards, significantly increasing its resale and rental value.

Repairs flagged

• Major kitchen cabinets — severely outdated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major kitchen flooring — tile flooring in poor condition
• Major bathroom fixtures — no fixtures
• Major windows — broken glass
• Major HVAC system — outdated and in poor condition
• Major landscaping — bare and unkempt

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value
• Both bathroom renovation — installing modern fixtures and updating the bathroom would significantly increase both resale and rental value
• Both HVAC system replacement — replacing the outdated HVAC system would improve comfort and energy efficiency, increasing both resale and rental value
• Both landscaping and curb appeal — improving the landscaping and curb appeal would make the property more attractive and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely outdated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
kitchen flooring · tile flooring in poor condition	Major	$15,000–50,000
bathroom fixtures · no fixtures	Major	$15,000–50,000
windows · broken glass	Major	$15,000–50,000
HVAC system · outdated and in poor condition	Major	$15,000–50,000
landscaping · bare and unkempt	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would significantly increase both resale and rental value ↑
• Both bathroom renovation — installing modern fixtures and updating the bathroom would significantly increase both resale and rental value ↑
• Both HVAC system replacement — replacing the outdated HVAC system would improve comfort and energy efficiency, increasing both resale and rental value ↑
• Both landscaping and curb appeal — improving the landscaping and curb appeal would make the property more attractive and increase both resale and rental 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: 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

1 event — show timeline

• 2026-06-08 Listed $830,000 MLS PIN