29-31 Chase Ave · North Adams, MA 01247

$315,000

8 bd · 3.0 ba · 3,971 sqft · MultiFamily · 44 Days on market

Built 1870 Good condition 8,000 sqft lot $79/sqft · 54% above area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +1.9/10.0
• Schools +1.8/10.0

Multi-family units

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

Listing remarks

This well-maintained two-unit multifamily duplex presents an excellent opportunity for both investors and owner-occupants alike. Featuring a total of 7 bedrooms and 4 bathrooms (2 full and 2 half), each unit offers a functional layout with generous living space, bright interiors, and thoughtful updates throughout. This property offers six off-street parking spaces, providing ample and convenient parking for residents and guests. Whether you're looking to expand your investment portfolio or live in one unit while generating income from the other, this is a versatile and attractive opportunity not to be missed.

Key facts

• 8,000 sq ft lot
• Garage
• Built 1870

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Total building area approximately 3971
• Construction: Slate and asphalt roof

Interior

• Flooring: Wood
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Wood flooring; Nat Gas heating

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $315k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $839/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $315k).
• Recommended offer: $306k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 6.0% in North Adams — 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 55/100 on livability (#242 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, crime F.
• North Adams (town): math 14% / reading 29% proficiency, ranked #291 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Brayton (math 8% / reading 27%, grade F, #819 of 938 statewide, top 88%, 228 students, 0% FRL); Drury High (math 16% / reading 24%, grade F, #308 of 343 statewide, top 91%, 493 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 99 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 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 $9k of value loss. Plan a longer hold.
• Berkshire County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.57% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.59%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (median comp): $204,103
• List price: $315,000
• Delta: 54.33%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35-37 Bracewell Ave	0.25mi	8/3.0	3,891 (-2%)	17mo	$273,000	$70	71
1 Pebble St	0.42mi	8/4.0	4,196 (+6%)	5mo	$250,000	$60	63
67-69 E Quincy St	0.64mi	8/2.0	3,532 (-11%)	0mo	$68,000	$19	47
11-15 Perry St	0.70mi	9/4.0 (+1)	3,710 (-7%)	4mo	$150,000	$40	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.63×
• Total profit: $55,942
• Equity at exit: $46,968

10-year hold

• IRR: 24.4%
• Equity multiple: 3.12×
• Total profit: $186,776
• Equity at exit: $27,235

Cash invested: $88,200 (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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $4,950 medium
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,040
• Net cashflow: $1,678

Break-even live

Break-even rent $2,826

Max offer price $315,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,896	-5% $1,787	+0% $1,678	+5% $1,569	+10% $1,460
Rent	-10% $1,287	-5% $1,483	+0% $1,678	+5% $1,874	+10% $2,069
Rate	-1.0pp $1,837	-0.5pp $1,758	base $1,678	+0.5pp $1,596	+1.0pp $1,513

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$4,950
Total (2 units)			$4,950

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $315,000 Active 44 DOM
2. 2026-06-18
   days on market $315,000 Active 42 DOM
3. 2026-06-17
   days on market $315,000 Active 41 DOM
4. 2026-06-16
   days on market $315,000 Active 40 DOM
5. 2026-06-15
   days on market $315,000 Active 39 DOM
6. 2026-06-13
   days on market $315,000 Active 37 DOM
7. 2026-06-12
   days on market $315,000 Active 36 DOM
8. 2026-06-09
   days on market $315,000 Active 33 DOM
9. 2026-06-08
   days on market $315,000 Active 32 DOM
10. 2026-06-07
    days on market $315,000 Active 31 DOM
11. 2026-06-07
    days on market $315,000 Active 30 DOM
12. 2026-06-04
    days on market $315,000 Active 27 DOM
13. 2026-06-02
    days on market $315,000 Active 26 DOM
14. 2026-06-01
    days on market $315,000 Active 25 DOM
15. 2026-05-31
    days on market $315,000 Active 24 DOM
16. 2026-05-31
    days on market $315,000 Active 23 DOM
17. 2026-05-07
    listed $315,000 Active 619-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 9 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,400
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$2,242
• − Repairs & maintenance: −$4,752
• − Management: −$4,752
• − Depreciation: −$9,164
• Taxable income: $16,121
• Est. tax owed @ 24.0%: −$3,869
• After-tax cash flow: $16,268/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

Good 75/100 Cosmetic rehab

This well-maintained two-unit multifamily duplex offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Resale update kitchen appliances — modernizes the space and appeals to buyers
• Both install smart home devices — improves convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Resale update kitchen appliances — modernizes the space and appeals to buyers ↑
• Both install smart home devices — 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: North Adams
• NCES district ID: 2508670
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $36,746
• Composite: 17.83/100
• National rank: #9006
• State rank: #291 of 302 in MA

Livability — North Adams

• Score: 55/100
• State rank: #242
• US rank: #23506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Adams, MA
• City population: 14,967
• Population (ZIP): 14,967

Population outlook (Berkshire County) Hauer SSP2

• Today (2025): 119,723 people
• By 2030: 114,608 · -4.3%
• By 2040: 102,806 · -14.1%
• By 2050: 91,305 · -23.7%
• By 2075: 71,517 · -40.3%
• By 2100: 57,988 · -51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 15% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 0%

Political lean MEDSL · Berkshire

• 2024 margin: Solid D (+39.9) · D 68.9% · R 29.0% · Other 2.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 52.4pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+47.1 2016: D+41.5 2012: D+53.7 2008: D+52.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.22%
• Current HPI: 298.8949
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-07 Listed $315,000 BCMLS