501 Commerce Dr Unit 3-119 · Braintree Town, MA 02184

$352,100

2 bd · 2.5 ba · 910 sqft · Condo public records · 61 Days on market

Built 2004 $387/sqft · 17% below area Est $423k · 17% under $550/mo HOA · 19% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.3/30.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom condo has hardwood floors throughout. This is a great opportunity for a commuter, convenient location, maintenance free living. Complex offers beautiful outdoor pool, gym and clubhouse for owners use. Deed restricted property. Call for details....income waiver applies.

Key facts

• Open floor plan
• Fitness area
• Full patio

Tags

• OPEN FLOOR PLAN
• SIZABLE CLOSET SPACE
• IN UNIT WASHER DRYER
• FULL PATIO
• FITNESS AREA
• SWIMMING POOL

Property features AI

Finance

• Other: Directions: Please use GPS; Address: 501 Commerce Dr Unit 3-119, Braintree MA 02184
• Financial info: Tax details not included per guidelines
• HOA & community: Association fee $550 monthly; HOA covers building maintenance, grounds maintenance, and snow removal; Community amenities include a pool and elevator(s); Not a senior community

Exterior

• Parking: 1 open parking space
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Condominium; Attached unit; Mid-rise building; 1 story; Entry level: 1; Building name: Turtle Crossing
• Construction: Built according to public records; Year built details: Actual
• Exterior features: Public sewer; Public water

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Entry level bedrooms (unit on first floor)
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning; Heating and cooling present
• Interior features: 4 total rooms
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $352k.

Deal economics

• At list price, monthly cash flow is $-474 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (23.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (18.7% below list).
• Recommended offer: $268k (23.8% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 3.0% in Braintree 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 84/100 on livability (#21 in MA, #809 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D+, cost of living F.
• Braintree (suburban): math 47% / reading 60% proficiency, ranked #94 of 302 in MA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Braintree High (math 64% / reading 72%, grade B, #93 of 343 statewide, top 28%, 1,706 students, 0% FRL) — zoned schools average 0% FRL vs 17% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 54% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Braintree average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.7%/yr); 40 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 958 units permitted in Norfolk County in 2024 (305 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 $11k of value loss. Plan a longer hold.
• Norfolk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($331k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $207k; list at $352k implies a 70% gain — meaningful room to come down on a strong offer.

Recommended offer $268,361 (23.8% 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. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
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. 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 0.81% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.77%
• DSCR: 0.74
• GRM: 10.3

CMA / ARV

• ARV (median comp): $423,082
• List price: $352,100
• Delta: -16.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -26.4%
• Equity multiple: 0.11×
• Total profit: $-87,822
• Equity at exit: $52,499

10-year hold

• IRR: -24.4%
• Equity multiple: -0.19×
• Total profit: $-117,703
• Equity at exit: $30,443

Cash invested: $98,588 (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 02184

• Rents YoY: 2.7%
• Active inventory: 40
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,861 high
• Mortgage (P&I): −$1,846
• Tax from tax record: −$191 /mo · $2,291/yr
• Insurance: −$147
• HOA: −$550
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $-474

Break-even live

Break-even rent $3,461

Max offer price $268,361

Occupancy floor —

Sensitivity live

Price	-10% $-275	-5% $-374	+0% $-474	+5% $-574	+10% $-673
Rent	-10% $-700	-5% $-587	+0% $-474	+5% $-361	+10% $-248
Rate	-1.0pp $-297	-0.5pp $-384	base $-474	+0.5pp $-565	+1.0pp $-658

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: $88,025
• Closing costs: $10,563
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Matthew Ln Braintree, MA	1.0–3.0	1.0–2.0	1031	$3,358	$3.26	0d	15	0.29mi
550 Liberty St Braintree, MA	1.0–2.0	1.0–2.5	1576	$4,493	$2.85	0d	26	0.40mi
4 Tara Dr #4 Weymouth, MA	2.0	1.0	940	$2,800	$2.98	22d	1	1.18mi
2 Tara Dr #1 Weymouth, MA	2.0	1.0	928	$2,650	$2.86	26d	1	1.18mi
3 Tara Dr #4 Weymouth, MA	1.0	1.0	626	$2,200	$3.51	6d	1	1.21mi
190 Mediterranean Dr Weymouth, MA	2.0	1.0–2.0	732	$2,583	$3.53	0d	26	1.21mi
685 Main St Weymouth, MA	1.0–2.0	1.0	701	$2,799	$3.99	26d	2	1.22mi
685 Main St #34 Weymouth, MA	2.0	1.0	794	$2,799	$3.53	45d	1	1.22mi
685 Main St #33 Weymouth, MA	1.0	1.0	610	$1,975	$3.24	4d	1	1.22mi
576 Washington St Unit 405 Weymouth, MA	1.0	1.0	600	$2,100	$3.50	45d	1	1.33mi
576 Washington St Unit 110 Weymouth, MA	1.0	1.0	700	$2,100	$3.00	21d	1	1.33mi
576 Washington St Unit 404 Weymouth, MA	1.0	1.0	700	$2,150	$3.07	26d	1	1.33mi
655 Washington St Weymouth, MA	2.0	1.0–2.0	932	$3,225	$3.46	0d	10	1.33mi
80 Donald St Weymouth, MA	3.0	1.0–2.0	877	$3,293	$3.75	0d	32	1.34mi
15 Cynthia Cir #0 Weymouth, MA	2.0	1.5	950	$2,200	$2.32	45d	1	1.44mi
215 Winter St Weymouth, MA	2.0	1.0	853	$2,475	$2.90	19d	2	1.45mi
215 Winter St Weymouth, MA	1.0–2.0	1.0	727	$2,550	$3.51	4d	2	1.45mi
215 Winter St Weymouth, MA	1.0–2.0	1.0	727	$2,550	$3.51	1d	2	1.45mi
20 Hunt St Weymouth, MA	1.0	1.0	750	$1,950	$2.60	6d	1	1.45mi
75 Sterling St Unit A Braintree, MA	1.0	1.0	675	$2,000	$2.96	26d	1	1.47mi
11 Sterling Park Braintree, MA	1.0	1.0	900	$2,300	$2.56	4d	1	1.49mi

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $352,100 Active 61 DOM
2. 2026-06-18
   days on market $352,100 Active 58 DOM
3. 2026-06-17
   days on market $352,100 Active 57 DOM
4. 2026-06-16
   days on market $352,100 Active 56 DOM
5. 2026-06-15
   days on market $352,100 Active 55 DOM
6. 2026-06-13
   days on market $352,100 Active 53 DOM
7. 2026-06-13
   days on market $352,100 Active 52 DOM
8. 2026-06-09
   days on market $352,100 Active 49 DOM
9. 2026-06-08
   days on market $352,100 Active 48 DOM
10. 2026-06-07
    days on market $352,100 Active 47 DOM
11. 2026-06-04
    days on market $352,100 Active 44 DOM
12. 2026-06-03
    days on market $352,100 Active 43 DOM
13. 2026-06-02
    days on market $352,100 Active 42 DOM
14. 2026-06-01
    days on market $352,100 Active 41 DOM
15. 2026-05-31
    days on market $352,100 Active 40 DOM
16. 2026-04-21
    listed $352,100 New 658-char remark
17. 2015-09-21
    soldstatus $207,373 Sold 288-char remark

    Show marketing remark (288 chars)

    This 2 bedroom condo has hardwood floors throughout. This is a great opportunity for a commuter, convenient location, maintenance free living. Complex offers beautiful outdoor pool, gym and clubhouse for owners use. Deed restricted property. Call for details....income waiver applies.

18. 2015-07-26
    status Contingent 288-char remark

    Show marketing remark (288 chars)

    This 2 bedroom condo has hardwood floors throughout. This is a great opportunity for a commuter, convenient location, maintenance free living. Complex offers beautiful outdoor pool, gym and clubhouse for owners use. Deed restricted property. Call for details....income waiver applies.

19. 2015-04-17
    listed $207,373 New 288-char remark

    Show marketing remark (288 chars)

    This 2 bedroom condo has hardwood floors throughout. This is a great opportunity for a commuter, convenient location, maintenance free living. Complex offers beautiful outdoor pool, gym and clubhouse for owners use. Deed restricted property. Call for details....income waiver applies.

20. 2004-12-30
    soldstatus $178,000

ⓘ 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: $2,291 · $191/mo
• Projected year-2 tax: $3,311 · $276/mo
• Expected delta: +$1,020/yr (+$85/mo · 44.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,330
• − Mortgage interest: −$19,723
• − Property taxes: −$2,291
• − Insurance: −$1,760
• − Repairs & maintenance: −$2,746
• − Management: −$2,746
• − HOA: −$6,600
• − Depreciation: −$10,243
• Taxable loss: −$11,780
• Est. tax savings @ 24.0%: +$2,827
• After-tax cash flow: $-2,861/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: Braintree
• NCES district ID: 2502940
• Math proficiency: 47% ▼ -15.00%
• Reading proficiency: 60% ▼ -8.00%
• Median HH income: $83,953
• Composite: 48.89/100
• National rank: #2079
• State rank: #94 of 302 in MA

Livability — Braintree Town

• Score: 84/100
• State rank: #21
• US rank: #809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Braintree Town, MA
• County: Norfolk County · 644,082 people
• City population: 38,762
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 38,899
• Household income: $122,214
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 808.0

Population outlook (Norfolk County) Hauer SSP2

• Today (2025): 737,259 people
• By 2030: 755,213 · +2.4%
• By 2040: 786,961 · +6.7%
• By 2050: 813,019 · +10.3%
• By 2075: 861,214 · +16.8%
• By 2100: 845,063 · +14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 21% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 2% Slovak 1% Russian 1%
• Foreign-born: 19% · China, Canada, Vietnam
• Languages at home: 74% English-only · Chinese 13% Vietnamese 3% Other Indo-European 3%

Political lean MEDSL · Norfolk

• 2024 margin: Strong D (+28.8) · D 63.3% · R 34.6% · Other 2.1%
• 2008→2024 swing: +10.2pp toward D · 2008: 18.5pp · 2024: 28.8pp
• All cycles: 2024: D+28.8 2020: D+36.3 2016: D+27.9 2012: D+16.1 2008: D+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -689.08%
• Current HPI: 318.8123
• Rent YoY: ▲ 2.72%
• 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

+97.8% since first listed

5 events — show timeline

• 2026-04-21 Listed $352,100 MLS PIN
• 2015-09-21 Sold (MLS) $207,373 MLS PIN
• 2015-07-26 Pending — MLS PIN
• 2015-04-17 Listed $207,373 MLS PIN
• 2004-12-30 Sold (Public Records) $178,000 Public Records

Property tax history

+2.1%/yr

Latest (2023): $2,291 · +2.2% YoY. Source: county tax records.