34 Irving St · Worcester, MA 01609

$1,100,000

6 bd · 6.0 ba · 3,858 sqft · MultiFamily public records · 62 Days on market

Built 1900 8,738 sqft lot $285/sqft · 56% 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Livability +4.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

6-Unit Investment Opportunity in Prime Worcester Location Near Polar Park! Positioned in one of Worcester’s most dynamic & rapidly growing corridors, this fully renovated 6-family property presents a rare opportunity for investors seeking immediate cash flow & long-term appreciation. Ideally located within walking distance to downtown Worcester’s vibrant dining, retail, & business districts, this asset benefits from strong tenant demand & exceptional rental stability. The property consists of six fully rented 1-bdrm, 1-bth units, all remodeled to meet modern tenant expectations. Units are freshly painted & feature updated kitchens with upgraded cabinetry, upgraded countertops, & durable LVP flooring. Roof is only 6yrs old! Other significant capital improvements include: Remodeled laundry room with NEW Coin-operated laundry machines, NEW Decks & stairs, NEW vinyl siding & a newly paved driveway offering a true turnkey, low-maintenance investment!

Key facts

• Newly paved driveway
• Updated kitchens
• New decks

Tags

• WALKING DISTANCE TO DOWNTOWN
• UPDATED KITCHENS
• REMODELED LAUNDRY ROOM
• NEW DECKS
• NEW VINYL SIDING
• NEWLY PAVED DRIVEWAY

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $1.10M).
• Recommended offer: $1.03M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.1% in Worcester — 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 87/100 on livability (#9 in MA, #312 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: schools C-, cost of living D.
• Worcester (urban): math 17% / reading 30% proficiency, ranked #280 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 44 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $11,097/mo this rent would consume 195% of the median local household income ($68k/yr) (locally 1183% 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 $8k of loan paydown is wiped out by about $33k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $750k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,033,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.01% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 8.3

CMA / ARV

• ARV (median comp): $706,825
• List price: $1,100,000
• Delta: 55.63%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Crown St	0.17mi	7/3.0 (+1)	3,386 (-12%)	8mo	$650,000	$192	48
15 Dix St	0.54mi	7/3.0 (+1)	3,722 (-4%)	8mo	$620,000	$167	46
35 King St	0.55mi	7/4.0 (+1)	4,166 (+8%)	23mo	$675,000	$162	29

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-48,818
• Equity at exit: $164,014

10-year hold

• IRR: 5.8%
• Equity multiple: 1.44×
• Total profit: $135,370
• Equity at exit: $95,108

Cash invested: $308,000 (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 01609

• Home prices YoY: -15.9%
• Rents YoY: 3.4%
• Active inventory: 44
• Price-to-rent: 49.6×

Monthly cashflow live

• Estimated rent: $11,097 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$569 /mo · $6,832/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,330
• Net cashflow: $1,970

Break-even live

Break-even rent $8,603

Max offer price $1,100,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$11,094
Total (6 units)			$11,097

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $1,100,000 Active 62 DOM
2. 2026-06-17
   days on market $1,100,000 Active 61 DOM
3. 2026-06-16
   days on market $1,100,000 Active 60 DOM
4. 2026-06-15
   days on market $1,100,000 Active 59 DOM
5. 2026-06-14
   days on market $1,100,000 Active 57 DOM
6. 2026-06-10
   days on market $1,100,000 Active 54 DOM
7. 2026-06-09
   days on market $1,100,000 Active 53 DOM
8. 2026-06-08
   days on market $1,100,000 Active 52 DOM
9. 2026-06-07
   days on market $1,100,000 Active 51 DOM
10. 2026-06-05
    days on market $1,100,000 Active 48 DOM
11. 2026-06-03
    days on market $1,100,000 Active 47 DOM
12. 2026-06-02
    days on market $1,100,000 Active 46 DOM
13. 2026-06-01
    days on market $1,100,000 Active 45 DOM
14. 2026-05-31
    days on market $1,100,000 Active 44 DOM
15. 2026-05-31
    days on market $1,100,000 Active 43 DOM
16. 2026-04-17
    listed $1,100,000 New 1003-char remark

    Show marketing remark (1003 chars)

    6-Unit Investment Opportunity in Prime Worcester Location Near Polar Park! Positioned in one of Worcester’s most dynamic & rapidly growing corridors, this fully renovated 6-family property presents a rare opportunity for investors seeking immediate cash flow & long-term appreciation. Ideally located within walking distance to downtown Worcester’s vibrant dining, retail, & business districts, this asset benefits from strong tenant demand & exceptional rental stability. The property consists of six fully rented 1-bdrm, 1-bth units, all remodeled to meet modern tenant expectations. Units are freshly painted & feature updated kitchens with upgraded cabinetry, upgraded countertops, & durable LVP flooring. Roof is only 6yrs old! Other significant capital improvements include: Remodeled laundry room with NEW Coin-operated laundry machines, NEW Decks & stairs, NEW vinyl siding & a newly paved driveway offering a true turnkey, low-maintenance investment!

17. 2023-11-13
    soldstatus $750,000 Sold 414-char remark

    Show marketing remark (414 chars)

    Multiple Offers! H&B requested by 6:00 PM 10/2 Opportunity Zone!!!! 6 Units with Plenty of Off-Street Parking located in a Premier Downtown Location! Cash-Flow now with room to increase rents to market rate! Majority of the units have been beautifully updated! All separate heat systems! Walking Distance to downtown, Train station and close proximity to local Hospitals including UMASS & St V's and MCPHS.

18. 2023-10-17
    status Under Agreement 414-char remark

    Show marketing remark (414 chars)

    Multiple Offers! H&B requested by 6:00 PM 10/2 Opportunity Zone!!!! 6 Units with Plenty of Off-Street Parking located in a Premier Downtown Location! Cash-Flow now with room to increase rents to market rate! Majority of the units have been beautifully updated! All separate heat systems! Walking Distance to downtown, Train station and close proximity to local Hospitals including UMASS & St V's and MCPHS.

19. 2023-10-03
    historical Contingent 414-char remark

    Show marketing remark (414 chars)

    Multiple Offers! H&B requested by 6:00 PM 10/2 Opportunity Zone!!!! 6 Units with Plenty of Off-Street Parking located in a Premier Downtown Location! Cash-Flow now with room to increase rents to market rate! Majority of the units have been beautifully updated! All separate heat systems! Walking Distance to downtown, Train station and close proximity to local Hospitals including UMASS & St V's and MCPHS.

20. 2023-09-29
    listed $750,000 New 414-char remark

    Show marketing remark (414 chars)

    Multiple Offers! H&B requested by 6:00 PM 10/2 Opportunity Zone!!!! 6 Units with Plenty of Off-Street Parking located in a Premier Downtown Location! Cash-Flow now with room to increase rents to market rate! Majority of the units have been beautifully updated! All separate heat systems! Walking Distance to downtown, Train station and close proximity to local Hospitals including UMASS & St V's and MCPHS.

21. 2004-12-30
    soldstatus $336,200

ⓘ 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: $6,832 · $569/mo
• Projected year-2 tax: $10,181 · $848/mo
• Expected delta: +$3,349/yr (+$279/mo · 49.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $133,164
• − Mortgage interest: −$61,617
• − Property taxes: −$6,832
• − Insurance: −$5,500
• − Repairs & maintenance: −$10,653
• − Management: −$10,653
• − Depreciation: −$32,000
• Taxable income: $5,909
• Est. tax owed @ 24.0%: −$1,418
• After-tax cash flow: $22,227/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: Worcester
• NCES district ID: 2513230
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $45,063
• Composite: 20.3/100
• National rank: #8615
• State rank: #280 of 302 in MA

Livability — Worcester

• Score: 87/100
• State rank: #9
• US rank: #312

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worcester, MA
• County: Worcester County · 487,911 people
• City population: 207,324
• Metro: Worcester, MA-CT
• Population (ZIP): 22,047
• Household income: $68,381
• Rent vs Own: 59.9% rent · 40.1% own
• Severe rent burden: 1183.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 850,858 people
• By 2030: 860,403 · +1.1%
• By 2040: 869,902 · +2.2%
• By 2050: 869,110 · +2.1%
• By 2075: 870,120 · +2.3%
• By 2100: 829,703 · -2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 18% Two or more races 11% Asian 10% Black 7%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 7% Romanian 4% Estonian 1%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 66% English-only · Spanish 15% Other Indo-European 8% Vietnamese 3%

Political lean MEDSL · Worcester

• 2024 margin: D (+10.0) · D 53.9% · R 43.9% · Other 2.2%
• 2008→2024 swing: -3.8pp toward R · 2008: 13.8pp · 2024: 10.0pp
• All cycles: 2024: D+10.0 2020: D+17.8 2016: D+10.5 2012: D+9.2 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.84%
• Current HPI: 274.8097
• Rent YoY: ▲ 3.38%
• Metro: Worcester, MA-CT
• 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

+227.2% since first listed

6 events — show timeline

• 2026-04-17 Listed $1,100,000 MLS PIN
• 2023-11-13 Sold (MLS) $750,000 MLS PIN
• 2023-10-17 Pending — MLS PIN
• 2023-10-03 Contingent — MLS PIN
• 2023-09-29 Listed $750,000 MLS PIN
• 2004-12-30 Sold (Public Records) $336,200 Public Records

Property tax history

+4.5%/yr

Latest (2023): $6,832 · +7.7% YoY. Source: county tax records.