113 Pleasant St · Gloucester, MA 01930

$599,000

4 bd · 3.0 ba · 1,240 sqft · MultiFamily public records · 110 Days on market

Built 1900 2,950 sqft lot $483/sqft · 35% above area Est $643k · 7% 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 +22.9/30.0
• ARV discount +10.6/15.0
• DSCR +7.3/10.0
• 1% rule +5.3/10.0
• Rent growth +4.8/5.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3 family investment property located in central Gloucester within close proximity to downtown, Burnham's playground and T station. Consists of 1 BR, 2 BR, and 1 BR apartments. 2 units have long term TAW tenants and one unit is currently vacant. Separate utilities for each unit. Enclosed fenced yard and patio area. 1 car off-street parking with room to create1-2 more spaces. Newer roof 2020. Low maintenance aluminum siding and landscaping.

Key facts

• Separate utilities
• Newer roof
• Patio area

Tags

• CLOSE PROXIMITY TO DOWNTOWN
• SEPARATE UTILITIES
• ENCLOSED FENCED YARD
• PATIO AREA
• OFF-STREET PARKING
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $350/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $599k).
• Recommended offer: $545k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.5% in Gloucester — 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 72/100 on livability (#119 in MA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, crime B+; Watch: amenities F, cost of living F.
• Gloucester (suburban): math 33% / reading 46% proficiency, ranked #203 of 302 in MA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.3%/yr); 72 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• At $6,144/mo this rent would consume 88% of the median local household income ($84k/yr) (locally 1500% 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 $4k of loan paydown is wiped out by about $18k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $168k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($545k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $218k; list at $599k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $545,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.03% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 8.1

CMA / ARV

• ARV (median comp): $643,104
• List price: $599,000
• Delta: -6.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $2,133
• Equity at exit: $89,313

10-year hold

• IRR: 14.3%
• Equity multiple: 2.40×
• Total profit: $235,247
• Equity at exit: $51,791

Cash invested: $167,720 (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 01930

• Rents YoY: 9.3%
• Active inventory: 72
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $6,144 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$414 /mo · $4,962/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,290
• Net cashflow: $1,049

Break-even live

Break-even rent $4,816

Max offer price $599,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,144
Total (3 units)			$6,144

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Maplewood Ave Unit 1 Gloucester, MA	3.0	1.0	1100	$3,300	$3.00	44d	1	0.30mi
78 Grove St #2 Gloucester, MA	3.0	1.0	1226	$3,100	$2.53	44d	1	0.32mi
68 Perkins St Gloucester, MA	4.0	2.0	1350	$4,200	$3.11	24d	1	0.52mi
16 Poplar St Gloucester, MA	3.0	1.5	1283	$3,500	$2.73	18d	1	0.70mi
58 Eastern Point Rd Gloucester, MA	3.0	2.0	1077	$3,050	$2.83	24d	1	1.36mi

Listing history 22 events

1. 2026-06-18
   days on market $599,000 Active 110 DOM
2. 2026-06-17
   days on market $599,000 Active 109 DOM
3. 2026-06-16
   days on market $599,000 Active 108 DOM
4. 2026-06-15
   days on market $599,000 Active 107 DOM
5. 2026-06-13
   days on market $599,000 Active 105 DOM
6. 2026-06-13
   days on market $599,000 Active 104 DOM
7. 2026-06-09
   days on market $599,000 Active 101 DOM
8. 2026-06-08
   days on market $599,000 Active 100 DOM
9. 2026-06-07
   days on market $599,000 Active 99 DOM
10. 2026-06-04
    days on market $599,000 Active 96 DOM
11. 2026-06-03
    days on market $599,000 Active 95 DOM
12. 2026-06-02
    days on market $599,000 Active 94 DOM
13. 2026-06-01
    days on market $599,000 Active 93 DOM
14. 2026-05-31
    days on market $599,000 Active 92 DOM
15. 2026-05-17
    status Reactivated 442-char remark

    Show marketing remark (442 chars)

    3 family investment property located in central Gloucester within close proximity to downtown, Burnham's playground and T station. Consists of 1 BR, 2 BR, and 1 BR apartments. 2 units have long term TAW tenants and one unit is currently vacant. Separate utilities for each unit. Enclosed fenced yard and patio area. 1 car off-street parking with room to create1-2 more spaces. Newer roof 2020. Low maintenance aluminum siding and landscaping.

16. 2026-05-09
    historical 442-char remark

    Show marketing remark (442 chars)

    3 family investment property located in central Gloucester within close proximity to downtown, Burnham's playground and T station. Consists of 1 BR, 2 BR, and 1 BR apartments. 2 units have long term TAW tenants and one unit is currently vacant. Separate utilities for each unit. Enclosed fenced yard and patio area. 1 car off-street parking with room to create1-2 more spaces. Newer roof 2020. Low maintenance aluminum siding and landscaping.

17. 2026-02-20
    listed $599,000 New 442-char remark

    Show marketing remark (442 chars)

    3 family investment property located in central Gloucester within close proximity to downtown, Burnham's playground and T station. Consists of 1 BR, 2 BR, and 1 BR apartments. 2 units have long term TAW tenants and one unit is currently vacant. Separate utilities for each unit. Enclosed fenced yard and patio area. 1 car off-street parking with room to create1-2 more spaces. Newer roof 2020. Low maintenance aluminum siding and landscaping.

18. 2001-08-23
    soldstatus $218,000 143-char remark

    Show marketing remark (143 chars)

    WELL MAINTAINED THREE FAMILY, OWNER OCCUPIES 1ST FLOOR. DOWNTOWN AREA. EXCELLENT INCOME PROPERTY. PARKING FOR TWO SECOND FLOOR UNIT DELEADED.

19. 2001-08-21
    historical 143-char remark

    Show marketing remark (143 chars)

    WELL MAINTAINED THREE FAMILY, OWNER OCCUPIES 1ST FLOOR. DOWNTOWN AREA. EXCELLENT INCOME PROPERTY. PARKING FOR TWO SECOND FLOOR UNIT DELEADED.

20. 2001-07-10
    listed $235,000 143-char remark

    Show marketing remark (143 chars)

    WELL MAINTAINED THREE FAMILY, OWNER OCCUPIES 1ST FLOOR. DOWNTOWN AREA. EXCELLENT INCOME PROPERTY. PARKING FOR TWO SECOND FLOOR UNIT DELEADED.

21. 1999-12-06
    soldstatus $130,000
22. 1976-10-01
    soldstatus $28,000

ⓘ 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: $4,962 · $414/mo
• Projected year-2 tax: $6,165 · $514/mo
• Expected delta: +$1,203/yr (+$100/mo · 24.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,728
• − Mortgage interest: −$33,553
• − Property taxes: −$4,962
• − Insurance: −$2,995
• − Repairs & maintenance: −$5,898
• − Management: −$5,898
• − Depreciation: −$17,425
• Taxable income: $2,996
• Est. tax owed @ 24.0%: −$719
• After-tax cash flow: $11,874/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: Gloucester
• NCES district ID: 2505280
• Math proficiency: 33% ▼ -11.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $61,632
• Composite: 35.14/100
• National rank: #5011
• State rank: #203 of 302 in MA

Livability — Gloucester

• Score: 72/100
• State rank: #119
• US rank: #6345

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloucester, MA
• County: Essex County · 632,995 people
• City population: 30,075
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 30,075
• Household income: $83,883
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 1500.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 5% Asian 2% Black 1%
• Common ancestry: Russian 7% Romanian 4% Lithuanian 4%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Other Indo-European 6% Spanish 3% French/Haitian/Cajun 1%

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: ▼ -275.46%
• Current HPI: 324.3107
• Rent YoY: ▲ 9.27%
• 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

+2039.3% since first listed

8 events — show timeline

• 2026-05-17 Relisted — MLS PIN
• 2026-05-09 Listing Removed — MLS PIN
• 2026-02-20 Listed $599,000 MLS PIN
• 2001-08-23 Sold (MLS) $218,000 MLS PIN
• 2001-08-21 Listing Removed — MLS PIN
• 2001-07-10 Listed $235,000 MLS PIN
• 1999-12-06 Sold (Public Records) $130,000 Public Records
• 1976-10-01 Sold (Public Records) $28,000 Public Records

Property tax history

+3.7%/yr

Latest (2023): $4,962 · +10.5% YoY. Source: county tax records.