110 Spring St · Cambridge, MA 02141

$1,595,000

5 bd · 3.0 ba · 2,006 sqft · MultiFamily public records · 13 Days on market

Built 1873 1,242 sqft lot Est $1194k · 34% over

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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
• Appreciation +7.3/10.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

GORGEOUS TWO FAMILY VICTORIAN LOCATED IN THE HEART OF EAST CAMBRIDGE BETWEEN MIT AND CAMBRIDGE SIDE GALLERIA MALL. SHORT WALK TO KENDALL,LECHMERE,GALLERIA MALL, MIT, MUSEUM OF SCIENCE. UPDATED UNITS, SMALL PRIVATE FENCED IN YARD,PERFECT FOR OWNER OCCUPPIED W/ INCOME, EASY CONDO CONVERSION, COME MAKE MONEY!!! Showings begin the week of 8/9!

Key facts

• Garden area
• Kendall square
• Charles river

Tags

• EAST CAMBRIDGE
• KENDALL SQUARE
• CHARLES RIVER
• RECENTLY RENOVATED LOWER LEVEL
• REAR PORCH
• GARDEN AREA

Property features AI

Finance

• Other: Above-grade finished area and below-grade finished area reported; Partially finished basement with bulkhead; Two units currently leased
• HOA & community: Nearby public transportation, T-station, bike path and sidewalks; Close to shopping, parks, highway access and a university

Exterior

• Parking: Open parking; Paved driveway; On-street parking
• Utilities: Public water; Public sewer
• Home design: 3-family property (3 units up/down); 4 total stories; 4 levels
• Construction: Frame construction; Shingle roof; Concrete perimeter foundation; Built (year per public records)
• Exterior features: Porch; Level lot; Paved road frontage; Publicly maintained road; Public road frontage

Interior

• Kitchen: Range; Dishwasher; Disposal; Refrigerator
• Flooring: Wood; Hardwood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Window unit(s) for cooling; Has heating; Has cooling
• Interior features: Ceiling fans; Bathroom with tub and shower; Pantry; Living room; Kitchen; Laundry room; 12 total rooms
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/2.5-bath units multifamily listed at $1.59M.

Deal economics

• At list price, monthly cash flow is $11k ($126k/yr) — positive. Per door: $4k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $1.59M).
• Cap rate 14.2% vs local median 1.8% in Cambridge — 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 84/100 on livability (#15 in MA, #654 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: crime F, cost of living F.
• Cambridge (urban): math 42% / reading 59% proficiency, ranked #117 of 302 in MA (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.0%/yr); 50 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• At $25,576/mo this rent would consume 243% of the median local household income ($127k/yr) (locally 1081% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $86k of equity ($11k loan paydown + $75k appreciation (4.7% local appreciation)).
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $447k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$138k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 30y 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 $550k; list at $1.59M implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $1,595,000

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 1873 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 1.60% ✓
• Cap rate: 14.22%
• Cash-on-cash: 28.31%
• DSCR: 2.26
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $1,193,570
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Spring St	0.16mi	4/3.0 (-1)	2,267 (+13%)	1mo	$1,600,000	$706	65
70 Thorndike St	0.11mi	6/3.0 (+1)	2,155 (+7%)	22mo	$1,615,000	$749	60
84 Winter St	0.24mi	4/2.0 (-1)	2,108 (+5%)	20mo	$1,150,000	$546	55
7-9 Lincoln	0.52mi	4/2.0 (-1)	2,094 (+4%)	10mo	$1,210,000	$578	51
724-726 Cambridge St	0.35mi	4/3.0 (-1)	2,287 (+14%)	14mo	$1,360,000	$595	44
66 Elm St	0.74mi	5/2.0	2,175 (+8%)	6mo	$1,260,000	$579	43

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

Projected returns pro-forma

4.7% appreciation · 2.99% rent growth · sell at horizon

5-year hold

• IRR: 37.1%
• Equity multiple: 3.26×
• Total profit: $1,010,635
• Equity at exit: $874,835

10-year hold

• IRR: 35.6%
• Equity multiple: 6.57×
• Total profit: $2,487,340
• Equity at exit: $1,486,373

Cash invested: $446,600 (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 02141

• Home prices YoY: 1.4%
• Rents YoY: 3.0%
• Active inventory: 50
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $25,576 medium
• Mortgage (P&I): −$8,364
• Tax from tax record: −$641 /mo · $7,689/yr
• Insurance: −$665
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,371
• Net cashflow: $10,535

Break-even live

Break-even rent $12,240

Max offer price $1,595,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	2.5	$25,575
Total (3 units)			$25,576

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: $398,750
• Closing costs: $47,850
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92 Thorndike St Cambridge, MA	4.0	3.0	3000	$8,000	$2.67	44d	1	0.07mi
339 Cambridge St Unit 2 Cambridge, MA	4.0	2.0	1400	$6,000	$4.29	8d	1	0.18mi
313 Cambridge St Cambridge, MA	4.0	1.0	1400	$4,595	$3.28	44d	1	0.19mi
285 3rd St Cambridge, MA	4.0	1.0–3.0	1364	$5,606	$4.11	2d	15	0.31mi
38 Hunting St #2 Cambridge, MA	5.0	1.5	1500	$4,500	$3.00	44d	1	0.52mi
291 Windsor St #291 Cambridge, MA	4.0	3.5	1818	$8,900	$4.90	3d	1	0.62mi
176 Elm St Cambridge, MA	4.0	2.5	1800	$6,000	$3.33	44d	1	0.70mi
266 Broadway Cambridge, MA	4.0	1.0	2000	$6,500	$3.25	44d	1	0.72mi
64 Elm St Apt 2 Cambridge, MA	5.0	1.0	1588	$4,500	$2.83	17d	1	0.75mi
64 Elm St Apt 2 Cambridge, MA	5.0	1.0	1588	$5,200	$3.27	44d	1	0.75mi
309 Broadway Unit 1 Cambridge, MA	4.0	4.5	2500	$10,000	$4.00	17d	1	0.88mi
16 Alston St #16 Somerville, MA	4.0	3.0	2518	$6,500	$2.58	44d	1	0.96mi
20 Alston St #20 Somerville, MA	4.0	2.0	1606	$5,500	$3.42	24d	1	0.96mi
6 Pearl St Unit B Somerville, MA	4.0	3.5	2255	$5,200	$2.31	3d	1	1.01mi
1433 Cambridge St Cambridge, MA	4.0	2.0	1800	$7,000	$3.89	24d	1	1.06mi
1433 Cambridge St Cambridge, MA	4.0	2.0	1800	$7,000	$3.89	44d	1	1.06mi
15 Dimick St Somerville, MA	4.0	2.0	2730	$6,300	$2.31	24d	1	1.09mi
15 Harold St Unit 1L Somerville, MA	4.0	2.0	1800	$5,400	$3.00	44d	1	1.11mi
319 Washington St Somerville, MA	4.0	2.0	1800	$6,000	$3.33	44d	1	1.17mi
81 Flint St Unit 83 Somerville, MA	5.0	3.0	2400	$4,999	$2.08	18d	1	1.18mi
331 Washington St Somerville, MA	5.0	2.0	1900	$6,000	$3.16	24d	1	1.20mi
100 Flint St Somerville, MA	4.0	1.0	1537	$7,925	$5.16	22d	1	1.20mi
470 Green St Unit 2 Cambridge, MA	4.0	3.0	2500	$7,500	$3.00	8d	1	1.29mi
470 Green St Cambridge, MA	4.0	3.0	2500	$7,500	$3.00	44d	1	1.29mi
21 Pennsylvania Ave Somerville, MA	5.0	2.0	1800	$5,095	$2.83	5d	1	1.30mi
21 Macarthur St Unit 2 Somerville, MA	4.0	1.0	1500	$3,800	$2.53	44d	1	1.39mi
20 Preston Rd Somerville, MA	4.0	1.0	1600	$4,500	$2.81	44d	1	1.41mi
467 Somerville Ave Somerville, MA	4.0	2.0	2100	$6,400	$3.05	44d	1	1.41mi

Listing history 10 events

1. 2026-06-18
   days on market $1,595,000 Active 13 DOM
2. 2026-06-17
   days on market $1,595,000 Active 12 DOM
3. 2026-06-16
   days on market $1,595,000 Active 11 DOM
4. 2026-06-15
   days on market $1,595,000 Active 10 DOM
5. 2026-06-13
   days on market $1,595,000 Active 8 DOM
6. 2026-06-13
   days on market $1,595,000 Active 7 DOM
7. 2026-06-09
   statusdays on market $1,595,000 Active 4 DOM
8. 2026-06-08
   days on market $1,595,000 New 3 DOM
9. 2026-06-07
   remarks 554-char remark
10. 2026-06-07
    listed $1,595,000 New 2 DOM

ⓘ 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: $7,689 · $641/mo
• Projected year-2 tax: $13,654 · $1,138/mo
• Expected delta: +$5,965/yr (+$497/mo · 77.6%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $306,912
• − Mortgage interest: −$89,345
• − Property taxes: −$7,689
• − Insurance: −$7,975
• − Repairs & maintenance: −$24,553
• − Management: −$24,553
• − Depreciation: −$46,400
• Taxable income: $106,397
• Est. tax owed @ 24.0%: −$25,535
• After-tax cash flow: $100,889/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: Cambridge
• NCES district ID: 2503270
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 59% ▼ -1.00%
• Median HH income: $76,444
• Composite: 45.66/100
• National rank: #2580
• State rank: #117 of 302 in MA

Livability — Cambridge

• Score: 84/100
• State rank: #15
• US rank: #654

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MA
• County: Middlesex County · 1,437,704 people
• City population: 119,000
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 14,517
• Household income: $126,522
• Rent vs Own: 74.5% rent · 25.5% own
• Severe rent burden: 1081.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 1,740,269 people
• By 2030: 1,817,187 · +4.4%
• By 2040: 1,963,195 · +12.8%
• By 2050: 2,087,461 · +20.0%
• By 2075: 2,344,036 · +34.7%
• By 2100: 2,383,776 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Asian 21% Hispanic / Latino 11% Black 9% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Russian 3% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, South Korea
• Languages at home: 61% English-only · Other Indo-European 10% Spanish 8% Chinese 8%

Political lean MEDSL · Middlesex

• 2024 margin: Solid D (+39.5) · D 68.5% · R 29.0% · Other 2.5%
• 2008→2024 swing: +9.3pp toward D · 2008: 30.1pp · 2024: 39.5pp
• All cycles: 2024: D+39.5 2020: D+45.2 2016: D+38.1 2012: D+26.9 2008: D+30.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.70%
• Current HPI: 329.3801
• Rent YoY: ▲ 2.99%
• 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

+2026.7% since first listed

10 events — show timeline

• 2026-06-05 Listed $1,595,000 MLS PIN
• 2005-01-07 Sold (Public Records) $550,000 Public Records
• 2005-01-06 Sold (MLS) $550,000 MLS PIN
• 2004-12-01 Listing Removed — MLS PIN
• 2004-07-07 Listed $579,756 MLS PIN
• 1998-01-30 Sold (Public Records) $186,000 Public Records
• 1998-01-30 Sold (MLS) $186,000 MLS PIN
• 1997-10-28 Listing Removed — MLS PIN
• 1996-09-27 Listed $199,900 MLS PIN
• 1984-10-19 Sold (Public Records) $75,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $7,689 · +5.1% YoY. Source: county tax records.