108 Harrison St · Haverhill, MA 01830

$4,899,000

34 bd · 17.5 ba · 18,888 sqft · MultiFamily public records · 116 Days on market

Built 2020 Excellent condition 2.30 ac lot ↓ 7% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• 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: 17 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

Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

Key facts

• Strong unit mix
• Multifamily asset
• Modern finishes

Tags

• MULTIFAMILY ASSET
• STRONG UNIT MIX
• MODERN FINISHES
• STAINLESS STEEL APPLIANCES
• INDUSTRIAL LOFT DESIGN
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 17 × 2-bed/1.0-bath units multifamily listed at $4.90M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $89/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 $3.95M (19.4% below list).
• Recommended offer: $3.95M (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Rents rising (+1.2%/yr); 35 active listings in the ZIP; solid renter incomes; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• At $39,462/mo this rent would consume 603% of the median local household income ($79k/yr) (locally 1472% 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 $34k of loan paydown is wiped out by about $147k 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 116 days — a 9% lower offer ($4.46M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $351k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,946,200 (19.4% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 19% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.81% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.16% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.44×
• Total profit: $-770,844
• Equity at exit: $730,457

10-year hold

• IRR: -10.9%
• Equity multiple: 0.39×
• Total profit: $-838,457
• Equity at exit: $423,576

Cash invested: $1,371,720 (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 01830

• Rents YoY: 1.2%
• Active inventory: 35
• Price-to-rent: 175.9×

Monthly cashflow live

• Estimated rent: $39,462 high
• Mortgage (P&I): −$25,691
• Tax from tax record: −$1,924 /mo · $23,088/yr
• Insurance: −$2,041
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,287
• Net cashflow: $1,519

Break-even live

Break-even rent $37,539

Max offer price $4,899,000

Occupancy floor 91%

Sensitivity live

Price	-10% $4,292	-5% $2,905	+0% $1,519	+5% $132	+10% $-1,254
Rent	-10% $-1,599	-5% $-40	+0% $1,519	+5% $3,078	+10% $4,636
Rate	-1.0pp $3,986	-0.5pp $2,765	base $1,519	+0.5pp $249	+1.0pp $-1,042

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

Units	Beds	Baths	Est. rent
▸ 17× units	2	1	$39,457
Total (17 units)			$39,462

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: $1,224,750
• Closing costs: $146,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $4,899,000 Active 116 DOM
2. 2026-06-18
   days on market $4,899,000 Active 113 DOM
3. 2026-06-17
   days on market $4,899,000 Active 112 DOM
4. 2026-06-16
   days on market $4,899,000 Active 111 DOM
5. 2026-06-15
   days on market $4,899,000 Active 110 DOM
6. 2026-06-13
   days on market $4,899,000 Active 108 DOM
7. 2026-06-13
   days on market $4,899,000 Active 107 DOM
8. 2026-06-09
   days on market $4,899,000 Active 104 DOM
9. 2026-06-08
   days on market $4,899,000 Active 103 DOM
10. 2026-06-07
    days on market $4,899,000 Active 102 DOM
11. 2026-06-04
    days on market $4,899,000 Active 99 DOM
12. 2026-06-03
    days on market $4,899,000 Active 98 DOM
13. 2026-06-02
    days on market $4,899,000 Active 97 DOM
14. 2026-06-01
    days on market $4,899,000 Active 96 DOM
15. 2026-05-31
    days on market $4,899,000 Active 95 DOM
16. 2026-05-08
    price $4,899,000 824-char remark

    Show marketing remark (824 chars)

    Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

17. 2026-05-01
    price $5,250,000 824-char remark

    Show marketing remark (824 chars)

    Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

18. 2026-04-21
    status Price Changed 824-char remark

    Show marketing remark (824 chars)

    Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

19. 2026-04-21
    price $4,899,000 824-char remark

    Show marketing remark (824 chars)

    Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

20. 2026-03-08
    status Under Agreement 824-char remark

    Show marketing remark (824 chars)

    Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

21. 2026-01-12
    listed $5,250,000 New 824-char remark

    Show marketing remark (824 chars)

    Harrison Lofts | Haverhill, MA Newer-construction (2020) 17-unit multifamily asset producing approximately $427,000 ($35,620.00 per month) in gross annual income with upside in rents.The property consists of 17 units (including 4 duplexes) with a strong unit mix from studios to 4-bedroom apartments. All units feature modern finishes, stainless steel appliances, and an industrial loft design that supports long-term rental demand.32 off-street parking spaces, on-site laundry, and separately metered gas and electric for each unit—including individual on-demand hot water heaters—keep operating expenses efficient.Located minutes from I-495, commuter rail, and downtown Haverhill amenities. Stabilized income, modern construction, well maintained, and value-add potential make this a compelling long-term hold.

ⓘ 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: $23,088 · $1,924/mo
• Projected year-2 tax: $41,673 · $3,473/mo
• Expected delta: +$18,585/yr (+$1,549/mo · 80.5%)

ⓘ 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 5/10 Major 7 d/yr ≥98°F today · 16 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: $473,544
• − Mortgage interest: −$274,420
• − Property taxes: −$23,088
• − Insurance: −$24,495
• − Repairs & maintenance: −$37,884
• − Management: −$37,884
• − Depreciation: −$142,516
• Taxable loss: −$66,743
• Est. tax savings @ 24.0%: +$16,018
• After-tax cash flow: $34,244/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

Excellent 95/100 None rehab

This 17-unit multifamily property in Haverhill, MA is in excellent condition with modern finishes and efficient utilities. It is move-in ready and presents a strong investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and property value
• Both Addition of smart home features — Improves convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both Addition of smart home features — Improves convenience and marketability ↑

ⓘ 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: 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): 26,530
• Household income: $78,571
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1472.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 30% Two or more races 17% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10% Dominican 11%
• Common ancestry: Lithuanian 9% Romanian 2% Slovak 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 73% English-only · Spanish 22% Other Indo-European 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: ▼ -256.45%
• Current HPI: 310.8162
• Rent YoY: ▲ 1.16%
• 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

-6.7% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $4,899,000 MLS PIN
• 2026-05-01 Price Changed $5,250,000 MLS PIN
• 2026-04-21 Relisted — MLS PIN
• 2026-04-21 Price Changed $4,899,000 MLS PIN
• 2026-03-08 Pending — MLS PIN
• 2026-01-12 Listed $5,250,000 MLS PIN

Property tax history

+14.8%/yr

Latest (2023): $23,088 · +14.8% YoY. Source: county tax records.