2 Academy Ave · Haverhill, MA 01835

$2,050,000

10 bd · 10.0 ba · 5,400 sqft · MultiFamily public records · 37 Days on market

Built 1900 0.28 ac lot $380/sqft · 138% above area

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

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

Attention investors! Excellent income generating 10 family investment property located in desirable Bradford neighborhood. Well maintained with many updates including new oil tank, newer Rinnai heating systems in each unit, and a bonus 2 car garage.

Key facts

• Well kept units
• Consistent cash flow
• 0.28 acre lot

Tags

• 10 UNIT MULTIFAMILY ASSET
• STRONG TENANT HISTORY
• CONSISTENT CASH FLOW
• WELL KEPT UNITS
• THOUGHTFULLY UPDATED SYSTEMS
• HIGHLY DESIRABLE NEIGHBORHOOD

Property features AI

Finance

• Other: Lot size approximately 0.28 acres
• Financial info: Building total area approximately 5,400 (total building area)
• HOA & community: Not a senior community

Exterior

• Parking: 2-car garage (covered); 2 covered parking spaces; 10 open parking spaces; 12 total parking spaces
• Utilities: Public water; Public sewer; Electric individually metered
• Home design: 5+ unit multifamily (5+ Family - 5+ Units Up/Down); 4 stories; Approximately built (public records)
• Construction: Stone foundation
• Exterior features: Corner lot

Interior

• Bathrooms: 10 full bathrooms
• Heating & cooling: Natural gas heating; Heating present
• Interior features: Total of 20 rooms; Four-story building with multiple units

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $2.05M.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $306/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.00M (2.4% below list).
• Recommended offer: $1.99M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.7% in Haverhill — 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 (#79 in MA, #4,197 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F, cost of living F.
• Haverhill (suburban): math 20% / reading 33% proficiency, ranked #264 of 302 in MA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; high-income renter base; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• At $20,013/mo this rent would consume 211% of the median local household income ($114k/yr) (locally 260% 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 $14k of loan paydown is wiped out by about $62k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($1.99M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $832k; list at $2.05M implies a 147% 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: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,988,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 8.09%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (median comp): $860,538
• List price: $2,050,000
• Delta: 138.22%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-137,647
• Equity at exit: $305,662

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $129,058
• Equity at exit: $177,247

Cash invested: $574,000 (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 01835

• Active inventory: 16
• Price-to-rent: 85.4×

Monthly cashflow live

• Estimated rent: $20,013 high
• Mortgage (P&I): −$10,750
• Tax from tax record: −$1,142 /mo · $13,707/yr
• Insurance: −$854
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,203
• Net cashflow: $3,063

Break-even live

Break-even rent $16,135

Max offer price $2,050,000

Occupancy floor 80%

Sensitivity live

Price	-10% $4,224	-5% $3,644	+0% $3,063	+5% $2,483	+10% $1,903
Rent	-10% $1,482	-5% $2,273	+0% $3,063	+5% $3,854	+10% $4,644
Rate	-1.0pp $4,096	-0.5pp $3,585	base $3,063	+0.5pp $2,532	+1.0pp $1,992

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$20,010
Total (10 units)			$20,013

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: $512,500
• Closing costs: $61,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $2,050,000 Active 37 DOM
2. 2026-06-18
   days on market $2,050,000 Active 34 DOM
3. 2026-06-17
   days on market $2,050,000 Active 33 DOM
4. 2026-06-16
   days on market $2,050,000 Active 32 DOM
5. 2026-06-15
   days on market $2,050,000 Active 31 DOM
6. 2026-06-13
   days on market $2,050,000 Active 29 DOM
7. 2026-06-13
   days on market $2,050,000 Active 28 DOM
8. 2026-06-09
   days on market $2,050,000 Active 25 DOM
9. 2026-06-08
   days on market $2,050,000 Active 24 DOM
10. 2026-06-07
    days on market $2,050,000 Active 23 DOM
11. 2026-06-04
    days on market $2,050,000 Active 20 DOM
12. 2026-06-03
    days on market $2,050,000 Active 19 DOM
13. 2026-06-02
    days on market $2,050,000 Active 18 DOM
14. 2026-06-01
    days on market $2,050,000 Active 17 DOM
15. 2026-05-31
    days on market $2,050,000 Active 16 DOM
16. 2026-05-15
    listed $2,050,000 New 593-char remark
17. 2017-06-02
    soldstatus $831,600 Sold 249-char remark

    Show marketing remark (249 chars)

    Attention investors! Excellent income generating 10 family investment property located in desirable Bradford neighborhood. Well maintained with many updates including new oil tank, newer Rinnai heating systems in each unit, and a bonus 2 car garage.

18. 2017-02-15
    status Contingent 249-char remark

    Show marketing remark (249 chars)

    Attention investors! Excellent income generating 10 family investment property located in desirable Bradford neighborhood. Well maintained with many updates including new oil tank, newer Rinnai heating systems in each unit, and a bonus 2 car garage.

19. 2017-02-07
    listed $859,900 New 249-char remark

    Show marketing remark (249 chars)

    Attention investors! Excellent income generating 10 family investment property located in desirable Bradford neighborhood. Well maintained with many updates including new oil tank, newer Rinnai heating systems in each unit, and a bonus 2 car garage.

20. 2003-10-01
    soldstatus $795,000

ⓘ 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: $13,707 · $1,142/mo
• Projected year-2 tax: $19,461 · $1,622/mo
• Expected delta: +$5,754/yr (+$480/mo · 42.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $240,156
• − Mortgage interest: −$114,832
• − Property taxes: −$13,707
• − Insurance: −$10,250
• − Repairs & maintenance: −$19,212
• − Management: −$19,212
• − Depreciation: −$59,636
• Taxable income: $3,306
• Est. tax owed @ 24.0%: −$793
• After-tax cash flow: $35,968/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: Haverhill
• NCES district ID: 2505970
• Math proficiency: 20% ▼ -17.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $61,462
• Composite: 24.35/100
• National rank: #7697
• State rank: #264 of 302 in MA

Livability — Haverhill

• Score: 75/100
• State rank: #79
• US rank: #4197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Haverhill, MA
• County: Essex County · 632,995 people
• City population: 67,698
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 14,782
• Household income: $113,578
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 260.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 12% Black 4%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Lithuanian 9% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, China
• Languages at home: 83% English-only · Spanish 11% Other Indo-European 2% 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: ▼ -246.63%
• Current HPI: 314.6124
• Rent YoY: —
• 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

+157.9% since first listed

5 events — show timeline

• 2026-05-15 Listed $2,050,000 MLS PIN
• 2017-06-02 Sold (MLS) $831,600 MLS PIN
• 2017-02-15 Pending — MLS PIN
• 2017-02-07 Listed $859,900 MLS PIN
• 2003-10-01 Sold (Public Records) $795,000 Public Records

Property tax history

+3.7%/yr

Latest (2023): $13,707 · +10.4% YoY. Source: county tax records.