351 Main St · Amherst Town, MA 01002

$1,400,000

8 bd · 7.0 ba · 4,991 sqft · MultiFamily public records · 9 Days on market

Built 1800 10,000 sqft lot Est $1263k · 11% over

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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).

• Cash flow +12.4/30.0
• Schools +6.1/10.0
• Rent growth +4.8/5.0
• DSCR +3.7/10.0
• 1% rule +2.7/10.0
• ARV discount +2.6/15.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. 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 MLS

INVESTORS TAKE NOTICE! Great rental history! This is a rare opportunity to buy a 7 Unit building so close to the Amherst town center! It includes plenty of parking as well as a bus stop within steps of the building. There is ample storage for tenants and laundry on site. Your tenants can walk to restaurants, shopping with the town center nearby. There are 6 units that are 1 bedroom units with a lot of space, wonderful light with high ceilings, some with exterior deck space. The 7th unit is a 2 bedroom / 2 bathrooms with a living room and its own entrance with a porch.

Key facts

• 0.23 acre lot
• 10 parking spots
• Built 1800

Property features AI

Finance

• Financial info: Property listed as active
• HOA & community: Nearby public transportation, shopping, parks, walk/jog trails, medical facility, laundromat, bike path, houses of worship, private and public schools, and a university; Not a senior community

Exterior

• Parking: Paved driveway and off-street parking; Common open parking; Approximately 10 parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Electric hookups for range and dryer
• Home design: 5–story multi-family building; 5–9 family property; Approximately 4,991 total building area
• Construction: Frame construction; Stone and brick/mortar foundation; Rubber and metal roof; Built (approximate year per public records)
• Exterior features: Porch; Deck; Rain gutters; Stone wall; Public road frontage; Frontage approximately 100 feet

Interior

• Kitchen: Range; Range hood; Refrigerator; Dishwasher
• Bedrooms: Bedrooms located on individual unit levels (units are leased)
• Flooring: Wood; Carpet; Hardwood
• Bathrooms: 8 full bathrooms
• Heating & cooling: Steam heating (oil-fired); Two heating units / two heat zones; Window air conditioning units
• Interior features: Total of 20 rooms; Bathroom with tub and shower; Bathroom with shower stall; Internet available — broadband; Kitchen; Living room and dining room combo; Living room; Box/bay/bow windows; One fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $-224 ($-3k/yr) — negative. Per door: $-75/mo.
• To cash-flow at today's rent, offer at most $1.36M (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.08M (23.2% below list).
• Recommended offer: $1.08M (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Amherst Town — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Amherst-Pelham (suburban): math 67% / reading 76% proficiency, ranked #39 of 302 in MA (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+9.3%/yr); 53 active listings in the ZIP; 349 units permitted in Hampshire County in 2024 (185 in 5+ unit buildings).
• At $10,756/mo this rent would consume 182% of the median local household income ($71k/yr) (locally 2123% 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 $10k of loan paydown is wiped out by about $42k of value loss. Plan a longer hold.
• Hampshire County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,075,600 (23.2% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.77% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $1,262,723
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351 Main St	0.00mi	8/8.0	4,991 (0%)	23mo	$1,262,000	$253	77

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.53×
• Total profit: $-184,698
• Equity at exit: $208,745

10-year hold

• IRR: 2.3%
• Equity multiple: 1.20×
• Total profit: $77,804
• Equity at exit: $121,046

Cash invested: $392,000 (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 01002

• Rents YoY: 9.3%
• Active inventory: 53
• Price-to-rent: 32.5×

Monthly cashflow live

• Estimated rent: $10,756 medium
• Mortgage (P&I): −$7,342
• Tax from tax record: −$796 /mo · $9,552/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,259
• Net cashflow: $-224

Break-even live

Break-even rent $11,039

Max offer price $1,360,457

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$10,755
Total (3 units)			$10,756

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $1,400,000 Active 9 DOM
2. 2026-06-17
   days on market $1,400,000 Active 8 DOM
3. 2026-06-16
   days on market $1,400,000 Active 7 DOM
4. 2026-06-15
   days on market $1,400,000 Active 6 DOM
5. 2026-06-14
   statusdays on market $1,400,000 Active 4 DOM
6. 2026-06-13
   days on market $1,400,000 New 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $1,400,000 New 1 DOM

ⓘ 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: $9,552 · $796/mo
• Projected year-2 tax: $13,386 · $1,116/mo
• Expected delta: +$3,834/yr (+$320/mo · 40.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $129,072
• − Mortgage interest: −$78,422
• − Property taxes: −$9,552
• − Insurance: −$7,000
• − Repairs & maintenance: −$10,326
• − Management: −$10,326
• − Depreciation: −$40,727
• Taxable loss: −$27,281
• Est. tax savings @ 24.0%: +$6,547
• After-tax cash flow: $3,861/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: Amherst-Pelham
• NCES district ID: 2501920
• Math proficiency: 67% ▲ 13.00%
• Reading proficiency: 76% ▲ 15.00%
• Median HH income: $49,647
• Composite: 60.55/100
• National rank: #836
• State rank: #39 of 302 in MA

Livability — Amherst Town

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

Census & demographics

• Census place: Amherst Town, MA
• County: Hampshire County · 76,035 people
• City population: 12,458
• Metro: Springfield, MA
• Population (ZIP): 26,370
• Household income: $70,818
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 2123.0

Population outlook (Hampshire County) Hauer SSP2

• Today (2025): 166,577 people
• By 2030: 168,928 · +1.4%
• By 2040: 171,197 · +2.8%
• By 2050: 175,542 · +5.4%
• By 2075: 199,884 · +20.0%
• By 2100: 211,819 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 9% Asian 8% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 3% Italian 2%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 6% Other Indo-European 4% Chinese 3%

Political lean MEDSL · Hampshire

• 2024 margin: Solid D (+41.9) · D 69.5% · R 27.6% · Other 2.9%
• 2008→2024 swing: -3.6pp toward R · 2008: 45.6pp · 2024: 41.9pp
• All cycles: 2024: D+41.9 2020: D+46.8 2016: D+39.5 2012: D+43.8 2008: D+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -193.66%
• Current HPI: 294.492
• Rent YoY: ▲ 9.32%
• Metro: Springfield, 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

+401.8% since first listed

6 events — show timeline

• 2026-06-09 Listed $1,400,000 MLS PIN
• 2024-08-02 Sold (MLS) $1,262,000 MLS PIN
• 2024-05-22 Pending — MLS PIN
• 2024-05-08 Contingent — MLS PIN
• 2024-04-29 Listed $1,350,000 MLS PIN
• 1998-07-29 Sold (Public Records) $279,000 Public Records

Property tax history

+1.8%/yr

Latest (2023): $9,552 · +2.5% YoY. Source: county tax records.