115 Ruth St · New Bedford, MA 02744

$629,900

9 bd · 3.0 ba · 3,897 sqft · MultiFamily public records · 10 Days on market

Built 1905 2,139 sqft lot Est $698k · 10% under

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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 +19.1/30.0
• ARV discount +11.9/15.0
• Appreciation +8.3/10.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

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

Listing remarks MLS

3 BEDROOM UNITS WITH DOUBLE PARLORS. HOUSE ISIN NEED OF REPA IR. CURRENTLY VACANT. NEW VINYL, NEW PORCHES, GOOD FLOORS. C ENTRAL HEATFIRST FLOOR. GREAT INVESTMENT FOR HANDY PERSON.-

Key facts

• 2,139 sq ft lot
• Built 1905
• Listed 10 days

Tags

• WELL MAINTAINED PROPERTY
• THREE FAMILY PROPERTY
• EASY ACCESS TO WATERFRONT
• HIGHLY VISIBLE LOCATION
• GENEROUS LIVING SPACE

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: No open parking spaces reported
• Utilities: Public water; Public sewer
• Home design: 3-family property; 3 stories total; Approximately 3,897 total building area
• Construction: Stone foundation; Year built per public records (actual)
• Exterior features: Corner lot; Ocean nearby with beach 0.3–0.5 miles away; City views

Interior

• Bathrooms: Three full bathrooms
• Interior features: Total of 24 rooms; Unit 1 is a single-level unit; Unit 2 spans 2 floors; Unit 3 spans 3 floors and is currently leased

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $630k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive. Per door: $224/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 $585k (7.2% below list).
• Recommended offer: $585k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.7% in New Bedford — 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 67/100 on livability (#155 in MA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: cost of living C-, schools D, employment D.
• New Bedford (suburban): math 17% / reading 28% proficiency, ranked #287 of 302 in MA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).

Forward outlook

• In year one you build about $46k of equity ($4k loan paydown + $42k appreciation (6.7% local appreciation)).
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $176k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 32y 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 $22k; list at $630k implies a 2763% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $584,800 (7.2% 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 1905 — 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. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $697,563
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Ruth St	0.08mi	9/3.0	3,906 (+0%)	8mo	$710,000	$182	90
1037 Cove Rd	0.19mi	9/3.0	3,861 (-1%)	12mo	$702,000	$182	79
151 David St	0.11mi	10/4.0 (+1)	4,160 (+7%)	6mo	$725,000	$174	70
2-4 Stapleton St	0.25mi	9/3.0	3,690 (-5%)	15mo	$642,000	$174	67
103 David St	0.14mi	8/4.0 (-1)	3,488 (-10%)	3mo	$600,000	$172	64
9 Stapleton St	0.26mi	9/3.0	3,321 (-15%)	2mo	$665,000	$200	61
171 Crapo St	0.56mi	9/3.5	3,912 (+0%)	12mo	$680,000	$174	61
12 Harmony St	0.08mi	8/6.0 (-1)	3,735 (-4%)	18mo	$670,000	$179	57
717-719 Brock Ave	0.30mi	8/4.0 (-1)	3,550 (-9%)	7mo	$640,000	$180	57
68 Jouvette St	0.47mi	8/3.5 (-1)	4,137 (+6%)	14mo	$645,000	$156	49
50 Thompson St	0.71mi	8/3.0 (-1)	3,649 (-6%)	11mo	$622,200	$171	42
664 Brock Ave	0.38mi	8/4.0 (-1)	3,360 (-14%)	16mo	$725,000	$216	37

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

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 2.41×
• Total profit: $249,405
• Equity at exit: $422,417

10-year hold

• IRR: 19.5%
• Equity multiple: 4.94×
• Total profit: $694,179
• Equity at exit: $789,960

Cash invested: $176,372 (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 02744

• Home prices YoY: 1.6%
• Active inventory: 22
• Price-to-rent: 26.9×

Monthly cashflow live

• Estimated rent: $5,848 high
• Mortgage (P&I): −$3,303
• Tax from tax record: −$381 /mo · $4,577/yr
• Insurance: −$262
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,228
• Net cashflow: $673

Break-even live

Break-even rent $4,996

Max offer price $629,900

Occupancy floor 84%

Sensitivity live

Price	-10% $1,029	-5% $851	+0% $673	+5% $494	+10% $316
Rent	-10% $211	-5% $442	+0% $673	+5% $904	+10% $1,135
Rate	-1.0pp $990	-0.5pp $833	base $673	+0.5pp $510	+1.0pp $344

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,847
Total (3 units)			$5,848

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: $157,475
• Closing costs: $18,897
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $629,900 Active 10 DOM
2. 2026-06-17
   days on market $629,900 Active 9 DOM
3. 2026-06-16
   days on market $629,900 Active 8 DOM
4. 2026-06-15
   days on market $629,900 Active 7 DOM
5. 2026-06-13
   statusdays on market $629,900 Active 5 DOM
6. 2026-06-08
   remarks 687-char remark
7. 2026-06-08
   listed $629,900 New 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: $4,577 · $381/mo
• Projected year-2 tax: $6,162 · $514/mo
• Expected delta: +$1,585/yr (+$132/mo · 34.6%)

ⓘ 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 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $70,176
• − Mortgage interest: −$35,284
• − Property taxes: −$4,577
• − Insurance: −$3,150
• − Repairs & maintenance: −$5,614
• − Management: −$5,614
• − Depreciation: −$18,324
• Taxable loss: −$2,387
• Est. tax savings @ 24.0%: +$573
• After-tax cash flow: $8,646/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: New Bedford
• NCES district ID: 2508430
• Math proficiency: 17% ▼ -14.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,901
• Composite: 18.79/100
• National rank: #8869
• State rank: #287 of 302 in MA

Livability — New Bedford

• Score: 67/100
• State rank: #155
• US rank: #10150

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Bedford, MA
• County: Bristol County · 342,083 people
• City population: 76,528
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 12,716
• Household income: $58,675
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 811.0

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 570,212 people
• By 2030: 571,181 · +0.2%
• By 2040: 565,389 · -0.8%
• By 2050: 552,141 · -3.2%
• By 2075: 520,923 · -8.6%
• By 2100: 474,363 · -16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 20% Black 4%
• Hispanic origin (detail): Puerto Rican 17% Dominican 2%
• Common ancestry: Russian 34% Lithuanian 5% Romanian 3%
• Foreign-born: 24% · Canada
• Languages at home: 57% English-only · Other Indo-European 22% Spanish 17% French/Haitian/Cajun 3%

Political lean MEDSL · Bristol

• 2024 margin: Toss-up / Even · D 49.8% · R 48.5% · Other 1.8%
• 2008→2024 swing: -21.9pp toward R · 2008: 23.2pp · 2024: 1.3pp
• All cycles: 2024: D+1.3 2020: D+12.0 2016: D+9.3 2012: D+20.5 2008: D+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.66%
• Current HPI: 417.5735
• Rent YoY: —
• Metro: Providence-Warwick, RI-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

+2419.6% since first listed

3 events — show timeline

• 2026-06-08 Listed $629,900 MLS PIN
• 1994-06-29 Sold (MLS) $22,000 MLS PIN
• 1994-05-09 Listed $25,000 MLS PIN

Property tax history

+2.9%/yr

Latest (2023): $4,577 · +10.2% YoY. Source: county tax records.