16 W Oberlin St · Worcester, MA 01610

$649,999

7 bd · 3.0 ba · 2,588 sqft · MultiFamily public records · 28 Days on market

Built 1895 6,015 sqft lot Est $613k · 6% over

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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 +20.1/30.0
• DSCR +6.4/10.0
• ARV discount +4.8/15.0
• 1% rule +4.6/10.0
• Appreciation +4.6/10.0
• Livability +4.4/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Rent growth +1.9/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

CLARK UNIV. AREA-2 FAMILY W/ 5 RMS & 3BDRMS LAUNDRY ROOM- ALL UPDATED, NEWER BATHS & FURNACE CIR BREAKERS - OFF STREET PARKING NEWER VINYL & NEW WINDOWS

Key facts

• Updated baths
• Vinyl flooring
• Updated kitchens

Tags

• UPDATED KITCHENS
• UPDATED BATHS
• VINYL FLOORING
• SEPARATE LAUNDRY AREA
• OFF-STREET PARKING

Property features AI

Finance

• Other: Building total area approximately 2,588 (source listed); Lot size approximately 0.14 acres; Address: 16 W Oberlin St, Worcester, MA 01610
• HOA & community: Nearby public transportation, shopping, laundromat, houses of worship, public schools, and a university; Not a senior community

Exterior

• Parking: 6 off-street parking spaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: 3-family property; 3 stories; 3 total levels
• Construction: Frame construction; Stone foundation; Shingle roof; Built (year per public records)
• Exterior features: Level lot; Public road frontage

Interior

• Kitchen: Range
• Flooring: Vinyl flooring
• Bathrooms: 3 full bathrooms
• Interior features: 13 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $813 ($10k/yr) — positive. Per door: $271/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 $624k (3.9% below list).
• Recommended offer: $624k (3.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 soft (-2.2%/yr); 25 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $6,245/mo this rent would consume 146% of the median local household income ($51k/yr) (locally 2517% 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 (-0.7%/yr); year-one equity from $4k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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 $220k; list at $650k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — 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 $624,500 (3.9% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $613,356
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Shirley St	0.18mi	6/3.0 (-1)	2,642 (+2%)	8mo	$660,000	$250	76
38 Clifton St	0.11mi	8/3.0 (+1)	2,727 (+5%)	8mo	$725,000	$266	74
12 Westfield St	0.15mi	6/3.0 (-1)	2,791 (+8%)	3mo	$400,000	$143	72
10 Hollywood St	0.36mi	6/4.0 (-1)	2,647 (+2%)	12mo	$565,000	$213	60
27 Richards St	0.58mi	8/3.0 (+1)	2,682 (+4%)	12mo	$660,000	$246	52
35 Freeland St	0.65mi	6/2.0 (-1)	2,343 (-10%)	0mo	$538,000	$230	44
7 Pleasant Ter	0.75mi	6/3.0 (-1)	2,574 (-0%)	22mo	$610,000	$237	41
47 Piedmont St	0.63mi	8/3.0 (+1)	2,912 (+12%)	7mo	$640,000	$220	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-7,561
• Equity at exit: $165,475

10-year hold

• IRR: 3.1%
• Equity multiple: 1.28×
• Total profit: $50,151
• Equity at exit: $181,178

Cash invested: $182,000 (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 01610

• Home prices YoY: -0.1%
• Rents YoY: -2.2%
• Active inventory: 25
• Price-to-rent: 26.0×

Monthly cashflow live

• Estimated rent: $6,245 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$441 /mo · $5,297/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,311
• Net cashflow: $813

Break-even live

Break-even rent $5,216

Max offer price $649,999

Occupancy floor 82%

Sensitivity live

Price	-10% $1,181	-5% $997	+0% $813	+5% $629	+10% $445
Rent	-10% $319	-5% $566	+0% $813	+5% $1,059	+10% $1,306
Rate	-1.0pp $1,140	-0.5pp $978	base $813	+0.5pp $644	+1.0pp $473

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,246
Total (3 units)			$6,245

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $649,999 Active 28 DOM
2. 2026-06-17
   days on market $649,999 Active 27 DOM
3. 2026-06-16
   days on market $649,999 Active 26 DOM
4. 2026-06-15
   days on market $649,999 Active 25 DOM
5. 2026-06-14
   days on market $649,999 Active 23 DOM
6. 2026-06-10
   days on market $649,999 Active 20 DOM
7. 2026-06-09
   days on market $649,999 Active 19 DOM
8. 2026-06-08
   days on market $649,999 Active 18 DOM
9. 2026-06-07
   days on market $649,999 Active 17 DOM
10. 2026-06-05
    days on market $649,999 Active 14 DOM
11. 2026-06-03
    days on market $649,999 Active 13 DOM
12. 2026-06-02
    days on market $649,999 Active 12 DOM
13. 2026-06-01
    days on market $649,999 Active 11 DOM
14. 2026-05-31
    days on market $649,999 Active 10 DOM
15. 2026-05-31
    days on market $649,999 Active 9 DOM
16. 2026-05-21
    listed $649,999 New
17. 2005-08-03
    soldstatus $220,000
18. 2005-08-03
    soldstatus $220,000
19. 2001-09-06
    soldstatus $136,000
20. 2001-09-05
    soldstatus $136,000 164-char remark

    Show marketing remark (164 chars)

    CLARK UNIV. AREA-2 FAMILY W/ 5 RMS & 3BDRMS LAUNDRY ROOM- ALL UPDATED, NEWER BATHS & FURNACE CIR BREAKERS - OFF STREET PARKING NEWER VINYL & NEW WINDOWS

21. 2001-05-29
    historical 164-char remark

    Show marketing remark (164 chars)

    CLARK UNIV. AREA-2 FAMILY W/ 5 RMS & 3BDRMS LAUNDRY ROOM- ALL UPDATED, NEWER BATHS & FURNACE CIR BREAKERS - OFF STREET PARKING NEWER VINYL & NEW WINDOWS

22. 2001-03-27
    listed $139,900 164-char remark

    Show marketing remark (164 chars)

    CLARK UNIV. AREA-2 FAMILY W/ 5 RMS & 3BDRMS LAUNDRY ROOM- ALL UPDATED, NEWER BATHS & FURNACE CIR BREAKERS - OFF STREET PARKING NEWER VINYL & NEW WINDOWS

23. 1994-05-12
    soldstatus $39,320

ⓘ 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: $5,297 · $441/mo
• Projected year-2 tax: $6,646 · $554/mo
• Expected delta: +$1,349/yr (+$112/mo · 25.5%)

ⓘ 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 4/10 Moderate 7 d/yr ≥93°F today · 16 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: $74,940
• − Mortgage interest: −$36,410
• − Property taxes: −$5,297
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,995
• − Management: −$5,995
• − Depreciation: −$18,909
• Taxable loss: −$917
• Est. tax savings @ 24.0%: +$220
• After-tax cash flow: $9,972/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): 30,444
• Household income: $51,472
• Rent vs Own: 80.8% rent · 19.2% own
• Severe rent burden: 2517.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 42% White 34% Two or more races 21% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 21% Dominican 8%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 27% · Canada, Vietnam, China
• Languages at home: 48% English-only · Spanish 35% Other Indo-European 4% Vietnamese 2%

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: ▼ -0.73%
• Current HPI: 485.4378
• Rent YoY: ▼ -2.22%
• 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

+1553.1% since first listed

8 events — show timeline

• 2026-05-21 Listed $649,999 MLS PIN
• 2005-08-03 Sold (Public Records) $220,000 Public Records
• 2005-08-03 Sold (Public Records) $220,000 Public Records
• 2001-09-06 Sold (Public Records) $136,000 Public Records
• 2001-09-05 Sold (MLS) $136,000 MLS PIN
• 2001-05-29 Listing Removed — MLS PIN
• 2001-03-27 Listed $139,900 MLS PIN
• 1994-05-12 Sold (Public Records) $39,320 Public Records

Property tax history

+4.7%/yr

Latest (2023): $5,297 · +11.5% YoY. Source: county tax records.