319 Fenn St · Pittsfield, MA 01201

$445,000

6 bd · 4.0 ba · 3,087 sqft · MultiFamily public records · 1 Days on market

Built 1860 6,970 sqft lot

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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
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

A beautifully updated and maintained 4 family home centrally located in the heart of Pittsfield. This home is a good fit for an owner occupied or investor buyer. The home offers 2 generously sized apartments with 2 bedrooms and 2 apartments with 1 bedroom each. All separate utilities with all new natural gas heating systems throughout. Some of the updates include a new roof (2022), new energy efficient Viessmann natural gas heating systems (2023), vinyl replacement windows and vinyl siding amongst many others. An oversized 2 car garage, off street parking nicely round out this multifamily home that is close to all that downtown Pittsfield has to offer. Current owner would like to stay as a life tenant at the home.

Key facts

• Separate utilities
• New roof
• 6,970 sq ft lot

Tags

• HIGHLY DESIRABLE LOCATION
• WALKING DISTANCE TO DOWNTOWN
• STRONG INCOME POTENTIAL
• SEPARATE UTILITIES
• RECENT CAPITAL IMPROVEMENTS
• NEW ROOF

Property features AI

Finance

• Financial info: Monthly unit rent example: $1,550 for a 2-bed, 1-bath unit

Exterior

• Parking: 2-car garage
• Utilities: Public sewer
• Home design: Single building (multifamily layout implied by unit information)
• Construction: Asphalt roof; Total building area approximately 3087
• Exterior features: Public sewer

Interior

• Bedrooms: One unit with 2 bedrooms
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: Four full bathrooms; No half bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Carpet, linoleum, and wood flooring

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $445k.

Deal economics

• At list price, monthly cash flow is $4k ($53k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $445k).
• Cap rate 18.2% vs local median 3.6% in Pittsfield — 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 (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, crime D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morningside Community School (math 8% / reading 22%, grade F, #854 of 938 statewide, top 93%, 355 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.7%/yr); 275 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $9,103/mo this rent would consume 154% of the median local household income ($71k/yr) (locally 1580% 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 $3k of loan paydown is wiped out by about $13k 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 + 7.7% rent growth), your $125k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $340k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $445,000

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 1860 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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: 2.05% ✓
• Cap rate: 18.19%
• Cash-on-cash: 42.49%
• DSCR: 2.89
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $274,743
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Rostone Pl	0.08mi	7/3.0 (+1)	3,180 (+3%)	6mo	$380,000	$119	77
10 Cherry St	0.35mi	6/4.0	3,320 (+8%)	2mo	$295,000	$89	70
36-38 Chickering St	0.45mi	6/2.5	3,200 (+4%)	6mo	$365,000	$114	62
474 Tyler St	0.63mi	5/4.0 (-1)	3,276 (+6%)	1mo	$345,000	$105	55
76-78 Stoddard Ave	0.67mi	7/3.0 (+1)	3,120 (+1%)	4mo	$275,000	$88	55
41-43 Reed St	0.62mi	5/5.0 (-1)	2,976 (-4%)	2mo	$325,000	$109	54
27-29 Daniels Ave	0.63mi	6/2.5	3,216 (+4%)	8mo	$145,000	$45	51
10-12 Stoddard Ave	0.69mi	6/2.5	2,840 (-8%)	6mo	$152,000	$54	44
52-54 Brown St	0.61mi	6/3.0	2,736 (-11%)	8mo	$321,000	$117	42
61 Seymour St	0.65mi	6/2.0	2,736 (-11%)	4mo	$210,000	$77	39
29 Glenwood Ave	0.69mi	6/2.0	2,736 (-11%)	3mo	$242,340	$89	38
71 Center St	0.57mi	6/8.0	2,709 (-12%)	1mo	$80,000	$30	36

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 · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 3.04×
• Total profit: $254,158
• Equity at exit: $66,351

10-year hold

• IRR: 52.3%
• Equity multiple: 7.32×
• Total profit: $787,907
• Equity at exit: $38,475

Cash invested: $124,600 (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 01201

• Rents YoY: 7.7%
• Active inventory: 275
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $9,103 medium
• Mortgage (P&I): −$2,334
• Tax from tax record: −$260 /mo · $3,120/yr
• Insurance: −$185
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,912
• Net cashflow: $4,412

Break-even live

Break-even rent $3,518

Max offer price $445,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$9,104
Total (4 units)			$9,103

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $445,000 Active 1 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: $3,120 · $260/mo
• Projected year-2 tax: $4,297 · $358/mo
• Expected delta: +$1,177/yr (+$98/mo · 37.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $109,236
• − Mortgage interest: −$24,927
• − Property taxes: −$3,120
• − Insurance: −$2,225
• − Repairs & maintenance: −$8,739
• − Management: −$8,739
• − Depreciation: −$12,945
• Taxable income: $48,541
• Est. tax owed @ 24.0%: −$11,650
• After-tax cash flow: $41,298/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, MA
• 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

+30.9% since first listed

4 events — show timeline

• 2026-06-12 Listed $445,000 BCMLS
• 2024-03-01 Sold (MLS) $339,900 BCMLS
• 2024-01-22 Pending — BCMLS
• 2024-01-01 Listed $339,900 BCMLS

Property tax history

+1.2%/yr

Latest (2023): $3,120 · +3.7% YoY. Source: county tax records.