22 Gilboa St · Douglas, MA 01516

$549,990

6 bd · 3.0 ba · 2,100 sqft · MultiFamily public records · 116 Days on market

Built 1900 4,782 sqft lot $262/sqft · at area comps Est $565k · at est.

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +8.7/15.0
• 1% rule +6.7/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

Key facts

• Immediate cash flow
• Off-street parking
• 4,782 sq ft lot

Tags

• FULLY OCCUPIED 3-UNIT
• RECENTLY RENOVATED UNIT 1
• OFF-STREET PARKING
• INCOME-PRODUCING ASSET
• IMMEDIATE CASH FLOW

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $532/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $500k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Douglas (suburban): math 29% / reading 53% proficiency, ranked #178 of 302 in MA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 19 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($500k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $100k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; list at $550k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $500,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.17% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• GRM: 7.1

CMA / ARV

• ARV (median comp): $564,503
• List price: $549,990
• Delta: -2.57%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Manchaug	0.17mi	6/2.0	2,158 (+3%)	17mo	$562,000	$260	69

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $12,419
• Equity at exit: $82,005

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $141,294
• Equity at exit: $47,553

Cash invested: $153,997 (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 01516

• Home prices YoY: -8.2%
• Active inventory: 19
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $6,430 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$370 /mo · $4,446/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,350
• Net cashflow: $1,596

Break-even live

Break-even rent $4,410

Max offer price $549,990

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,429
Total (3 units)			$6,430

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: $137,498
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $549,990 Active 116 DOM
2. 2026-06-17
   days on market $549,990 Active 115 DOM
3. 2026-06-16
   days on market $549,990 Active 114 DOM
4. 2026-06-15
   days on market $549,990 Active 113 DOM
5. 2026-06-14
   statusdays on market $549,990 Active 111 DOM
6. 2026-06-13
   days on market $549,990 Price Changed 110 DOM
7. 2026-06-10
   pricestatusdays on market $549,990 Price Changed 108 DOM
8. 2026-06-09
   days on market $589,000 Active 107 DOM
9. 2026-06-08
   days on market $589,000 Active 106 DOM
10. 2026-06-07
    days on market $589,000 Active 105 DOM
11. 2026-06-03
    days on market $589,000 Active 101 DOM
12. 2026-06-02
    statusdays on market $589,000 Active 100 DOM
13. 2026-06-01
    days on market $589,000 Price Changed 99 DOM
14. 2026-06-01
    days on market $589,000 Price Changed 98 DOM
15. 2026-05-31
    pricestatusdays on market $589,000 Price Changed 97 DOM
16. 2026-04-19
    status Back On Market 746-char remark

    Show marketing remark (746 chars)

    Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

17. 2026-04-13
    status Under Agreement 746-char remark

    Show marketing remark (746 chars)

    Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

18. 2026-03-29
    price $599,990 746-char remark

    Show marketing remark (746 chars)

    Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

19. 2026-03-14
    price $615,000 746-char remark

    Show marketing remark (746 chars)

    Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

20. 2026-03-02
    price $629,990 746-char remark

    Show marketing remark (746 chars)

    Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

21. 2026-02-16
    listed $650,000 New 746-char remark

    Show marketing remark (746 chars)

    Great multi-family investment opportunity here at 22 Gilboa St in Douglas, MA featuring a 3-unit multi-family with a VACANT first floor 2-bedroom unit and the rest of the tenants on month-to-month lease agreements, offering immediate flexibility for rent adjustments or owner-occupancy strategies. The property includes 6 total bedrooms and 3 bathrooms and currently produces a strong $4,950 monthly rent roll. The building is in good overall condition, with a recently renovated Unit 1 and updates completed in Units 2 and 3, enhancing tenant appeal while still leaving room for value-add improvements. Off-street parking adds convenience, making this a straightforward, income-producing asset with both immediate cash flow and strategic upside.

22. 2017-05-03
    soldstatus $185,000 Sold 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

23. 2017-02-27
    status Under Agreement 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

24. 2017-02-21
    price $179,900 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

25. 2017-01-21
    price $194,900 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

26. 2016-12-21
    price $209,900 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

27. 2016-12-18
    status Back On Market 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

28. 2016-10-05
    status Under Agreement 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

29. 2016-09-16
    price $224,900 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

30. 2016-08-14
    price $239,900 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

31. 2016-07-09
    listed $259,900 New 272-char remark

    Show marketing remark (272 chars)

    Vinyl sided 3 family in quaint village setting. Enclosed porch, updated oak kitchens. updated baths, storage, replacement windows, Plentiful off street parking. Great opportunity for home and income. Close to highway and recreation fields. This is a HomePath property.

32. 2003-03-04
    soldstatus $224,000

ⓘ 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: $4,446 · $370/mo
• Projected year-2 tax: $5,605 · $467/mo
• Expected delta: +$1,159/yr (+$97/mo · 26.1%)

ⓘ 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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $77,160
• − Mortgage interest: −$30,808
• − Property taxes: −$4,446
• − Insurance: −$2,750
• − Repairs & maintenance: −$6,173
• − Management: −$6,173
• − Depreciation: −$16,000
• Taxable income: $10,811
• Est. tax owed @ 24.0%: −$2,595
• After-tax cash flow: $16,555/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: Douglas
• NCES district ID: 2504230
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $84,677
• Composite: 38.54/100
• National rank: #4173
• State rank: #178 of 302 in MA

Livability — Douglas

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: East Douglas, MA
• Population (ZIP): 9,287

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: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 19% Romanian 6% Russian 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1%

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: ▼ -23.73%
• Current HPI: 267.1856
• 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

+167.9% since first listed

17 events — show timeline

• 2026-04-19 Relisted — MLS PIN
• 2026-04-13 Pending — MLS PIN
• 2026-03-29 Price Changed $599,990 MLS PIN
• 2026-03-14 Price Changed $615,000 MLS PIN
• 2026-03-02 Price Changed $629,990 MLS PIN
• 2026-02-16 Listed $650,000 MLS PIN
• 2017-05-03 Sold (MLS) $185,000 MLS PIN
• 2017-02-27 Pending — MLS PIN
• 2017-02-21 Price Changed $179,900 MLS PIN
• 2017-01-21 Price Changed $194,900 MLS PIN
• 2016-12-21 Price Changed $209,900 MLS PIN
• 2016-12-18 Relisted — MLS PIN
• 2016-10-05 Pending — MLS PIN
• 2016-09-16 Price Changed $224,900 MLS PIN
• 2016-08-14 Price Changed $239,900 MLS PIN
• 2016-07-09 Listed $259,900 MLS PIN
• 2003-03-04 Sold (Public Records) $224,000 Public Records

Property tax history

+3.3%/yr

Latest (2023): $4,446 · +4.4% YoY. Source: county tax records.