872 Massachusetts Ave #304 · Cambridge, MA 02139

$615,000

1 bd · 1.5 ba · 750 sqft · Condo · 85 Days on market

Built 1964 $820/sqft · 17% below area Est $740k · 17% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Appreciation +5.7/10.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• Cash flow +3.6/30.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Positioned between Central and Harvard Squares, this Cambridge residence offers a well-designed layout in a highly desirable location. The bedroom provides generous closet space, a full en-suite bathroom and direct access to a private east-facing balcony—an ideal spot to enjoy fresh air from the comfort of home. The living room connects seamlessly to the kitchen featuring quartz countertops and a passthrough window, making both daily living and entertaining feel effortless. This professionally managed building includes garage parking with remote access, a monitored mailroom, dual elevators, on-site laundry, and dedicated storage. While convenient access to public transportation, several Red Line stations and bus stops within a mile, provide this location with exceptional accessibility. All of this plus easy access to Harvard, MIT, and the Charles River, make this pet friendly building perfect for owners and investors alike.

Key facts

• On site laundry
• Quartz countertops
• Monitored mailroom

Tags

• PRIVATE EAST FACING BALCONY
• QUARTZ COUNTERTOPS
• GARAGE PARKING
• MONITORED MAILROOM
• DUAL ELEVATORS
• ON SITE LAUNDRY

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $615k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $421k (31.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $369k (40.1% below list).
• Recommended offer: $369k (40.1% below list) — sets the bar for 1% rule.
• Cap rate 2.7% 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 (+2.5%/yr); 50 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• This rent runs 33% of the median local income ($135k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($4k loan paydown + $9k appreciation (1.4% local appreciation)).
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($578k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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 $225k; list at $615k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $368,599 (40.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.60% ✗
• Cap rate: 2.72%
• Cash-on-cash: -12.77%
• DSCR: 0.43
• GRM: 13.9

CMA / ARV

• ARV (median comp): $739,841
• List price: $615,000
• Delta: -16.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.4% appreciation · 2.53% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.45×
• Total profit: $-94,410
• Equity at exit: $222,885

10-year hold

• IRR: -4.9%
• Equity multiple: 0.38×
• Total profit: $-107,351
• Equity at exit: $306,467

Cash invested: $172,200 (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 02139

• Home prices YoY: 0.4%
• Rents YoY: 2.5%
• Active inventory: 50
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $3,686 high
• Mortgage (P&I): −$3,225
• Tax est. 1.5%: −$769 /mo · $9,225/yr
• Insurance: −$256
• HOA est. from 5 same-building comps: −$494
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $-1,832

Break-even live

Break-even rent $6,005

Max offer price $349,879

Occupancy floor —

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: $153,750
• Closing costs: $18,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
854 Massachusetts Ave #3 Cambridge, MA	1.0	1.0	639	$2,800	$4.38	16d	1	0.03mi
345 Franklin St Cambridge, MA	2.0	2.0	1100	$4,100	$3.73	10d	4	0.06mi
345 Franklin St Cambridge, MA	2.0	1.5–2.0	1300	$4,200	$3.23	1d	3	0.06mi
516 Green St Cambridge, MA	2.0	1.0	750	$3,650	$4.87	24d	1	0.07mi
516 Green St Cambridge, MA	2.0	1.0	750	$3,650	$4.87	16d	1	0.07mi
881 Massachusetts Ave Unit 54 Cambridge, MA	2.0	1.0	799	$3,200	$4.01	7d	1	0.07mi
50 Kinnaird St #1154 Cambridge, MA	2.0–3.0	2.0–2.5	1149	$4,540	$3.95	1d	2	0.08mi
885 Massachusetts Ave Cambridge, MA	2.0	1.0	1000	$3,500	$3.50	43d	1	0.08mi
332 Franklin St Cambridge, MA	2.0	2.0	1089	$4,500	$4.13	14d	1	0.09mi
13 Pleasant St Cambridge, MA	2.0	1.0	999	$3,600	$3.60	43d	1	0.12mi
88 Hancock St Cambridge, MA	2.0	1.0	774	$3,200	$4.13	12d	1	0.12mi
15 Bigelow St #5 Cambridge, MA	1.0	1.0	548	$3,000	$5.47	17d	1	0.14mi
929 Massachusetts Ave Cambridge, MA	2.0	1.0–2.0	547	$3,218	$5.88	2d	15	0.15mi
23 Jay St Cambridge, MA	1.0	1.0	800	$4,995	$6.24	24d	1	0.16mi
23 Jay St Cambridge, MA	2.0	1.0	900	$6,825	$7.58	43d	1	0.16mi
23 Jay St Unit 1238102P Cambridge, MA	1.0	1.5	893	$3,939	$4.41	14d	1	0.16mi
32 Bay St #32 Cambridge, MA	2.0	2.0	710	$3,800	$5.35	43d	1	0.17mi
25 Jay St Unit 1238070P Cambridge, MA	2.0	1.5	893	$5,079	$5.69	20d	1	0.17mi
14 Centre St Cambridge, MA	2.0–3.0	1.0	1095	$2,650	$2.42	23d	1	0.17mi
5 Centre St Cambridge, MA	2.0	1.0	874	$4,000	$4.58	7d	1	0.17mi
32 Bigelow St Cambridge, MA	2.0	1.0	906	$4,500	$4.97	24d	1	0.20mi
17 Centre St Cambridge, MA	1.0	1.0	780	$3,600	$4.62	24d	1	0.21mi
27 Magee St #1 Cambridge, MA	1.0	1.0	600	$2,300	$3.83	21d	1	0.21mi
334 Harvard St #90 Cambridge, MA	2.0	1.0	664	$3,990	$6.01	20d	1	0.22mi
10 Magazine St Cambridge, MA	2.0–3.0	2.0–3.0	1011	$4,585	$4.53	1d	3	0.24mi
287 Harvard St Cambridge, MA	3.0	1.0–2.0	685	$3,467	$5.06	1d	2	0.25mi
632 Massachusetts Ave Cambridge, MA	2.0	2.0	1232	$4,220	$3.43	7d	1	0.25mi
43 Lee St #1 Cambridge, MA	1.0	1.0	1060	$3,700	$3.49	43d	1	0.25mi
9 Dana St Unit 23 Cambridge, MA	2.0	1.0	725	$3,975	$5.48	43d	1	0.25mi
266 Harvard St Unit 1273 Cambridge, MA	2.0	1.0	620	$3,560	$5.74	43d	1	0.26mi
333 Harvard St Cambridge, MA	2.0–3.0	1.0	813	$3,495	$4.30	43d	1	0.27mi
172 Auburn St #2 Cambridge, MA	1.0	1.0	755	$3,500	$4.64	43d	1	0.27mi
6 West St Unit 1 Cambridge, MA	2.0	1.0	878	$3,150	$3.59	14d	1	0.27mi
16 Ellery St #105 Cambridge, MA	2.0	1.0	868	$3,600	$4.15	23d	1	0.28mi
350 Harvard St Cambridge, MA	1.0	1.0	600	$3,000	$5.00	43d	1	0.29mi
66 Callender St Cambridge, MA	2.0	1.0	900	$3,500	$3.89	43d	1	0.29mi
10 Essex St Unit 1259 Cambridge, MA	2.0	1.0	739	$4,840	$6.55	43d	1	0.30mi
10 Essex St Unit 406 Cambridge, MA	2.0	2.0	1064	$5,500	$5.17	24d	1	0.30mi
10 Essex St Unit 203 Cambridge, MA	1.0	1.0	739	$4,200	$5.68	17d	1	0.30mi
10 Essex St Unit 407 Cambridge, MA	1.0	1.0	557	$3,800	$6.82	17d	1	0.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $615,000 Active 85 DOM
2. 2026-06-17
   days on market $615,000 Active 84 DOM
3. 2026-06-16
   days on market $615,000 Active 83 DOM
4. 2026-06-15
   days on market $615,000 Active 82 DOM
5. 2026-06-13
   days on market $615,000 Active 80 DOM
6. 2026-06-13
   days on market $615,000 Active 79 DOM
7. 2026-06-09
   days on market $615,000 Active 76 DOM
8. 2026-06-08
   days on market $615,000 Active 75 DOM
9. 2026-06-07
   days on market $615,000 Active 74 DOM
10. 2026-06-04
    days on market $615,000 Active 71 DOM
11. 2026-06-03
    days on market $615,000 Active 70 DOM
12. 2026-06-02
    days on market $615,000 Active 69 DOM
13. 2026-06-01
    days on market $615,000 Active 68 DOM
14. 2026-05-31
    days on market $615,000 Active 67 DOM
15. 2026-03-25
    listed $615,000 New 943-char remark

    Show marketing remark (943 chars)

    Positioned between Central and Harvard Squares, this Cambridge residence offers a well-designed layout in a highly desirable location. The bedroom provides generous closet space, a full en-suite bathroom and direct access to a private east-facing balcony—an ideal spot to enjoy fresh air from the comfort of home. The living room connects seamlessly to the kitchen featuring quartz countertops and a passthrough window, making both daily living and entertaining feel effortless. This professionally managed building includes garage parking with remote access, a monitored mailroom, dual elevators, on-site laundry, and dedicated storage. While convenient access to public transportation, several Red Line stations and bus stops within a mile, provide this location with exceptional accessibility. All of this plus easy access to Harvard, MIT, and the Charles River, make this pet friendly building perfect for owners and investors alike.

16. 2008-09-16
    historical 142-char remark

    Show marketing remark (142 chars)

    OPEN HOUSE SUNDAY JULY 13TH 11:30 - 1:00 location, location,750sq. ft., 1 1/2 bath, private balcony, laundry, elevator close to T, shops, park

17. 2008-09-15
    soldstatus $225,000 Sold 142-char remark

    Show marketing remark (142 chars)

    OPEN HOUSE SUNDAY JULY 13TH 11:30 - 1:00 location, location,750sq. ft., 1 1/2 bath, private balcony, laundry, elevator close to T, shops, park

18. 2008-07-24
    historical 142-char remark

    Show marketing remark (142 chars)

    OPEN HOUSE SUNDAY JULY 13TH 11:30 - 1:00 location, location,750sq. ft., 1 1/2 bath, private balcony, laundry, elevator close to T, shops, park

19. 2008-07-12
    price $257,000 142-char remark

    Show marketing remark (142 chars)

    OPEN HOUSE SUNDAY JULY 13TH 11:30 - 1:00 location, location,750sq. ft., 1 1/2 bath, private balcony, laundry, elevator close to T, shops, park

20. 2008-06-30
    listed $269,000 142-char remark

    Show marketing remark (142 chars)

    OPEN HOUSE SUNDAY JULY 13TH 11:30 - 1:00 location, location,750sq. ft., 1 1/2 bath, private balcony, laundry, elevator close to T, shops, park

ⓘ 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

• 🌡 Heat 6/10 Major
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,232
• − Mortgage interest: −$34,450
• − Property taxes: −$9,225
• − Insurance: −$3,075
• − Repairs & maintenance: −$3,539
• − Management: −$3,539
• − HOA: −$5,928
• − Depreciation: −$17,891
• Taxable loss: −$33,414
• Est. tax savings @ 24.0%: +$8,019
• After-tax cash flow: $-13,967/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): 40,033
• Household income: $134,586
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 2031.0

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 0.67)
• Race & ethnicity: White 52% Asian 20% Black 13% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 3% Scotch-Irish 3% Italian 2%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 65% English-only · Chinese 8% Spanish 8% Other Indo-European 5%

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: ▲ 1.40%
• Current HPI: 321.947
• Rent YoY: ▲ 2.53%
• 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

+128.6% since first listed

6 events — show timeline

• 2026-03-25 Listed $615,000 MLS PIN
• 2008-09-16 Listing Removed — MLS PIN
• 2008-09-15 Sold (MLS) $225,000 MLS PIN
• 2008-07-24 Contingent — MLS PIN
• 2008-07-12 Price Changed $257,000 MLS PIN
• 2008-06-30 Listed $269,000 MLS PIN