40 Edwards St · Fitchburg, MA 01420

$670,000

6 bd · 3.0 ba · 2,508 sqft · MultiFamily public records · 16 Days on market

Built 1905 5,036 sqft lot Est $592k · 13% over

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Why this score? — see what drove the F 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 +13.3/30.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +1.6/15.0
• 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

Here is your opportunity to take this solid 3 family to the next level. Spacious eat in kitchens with seprate pantry/ laundry. Room for 3 bedrooms with nice closet space. Enclosed porches and off street parking, Public record shows it as 2 bedroom units but seller has plans and permits in hand to update to 3 bedroom units. Unit 1 and 2 are currently vacant.

Key facts

• Renovated units
• Granite countertops
• Sub-metered panels

Tags

• NEW ELECTRICAL SERVICE
• SUB-METERED PANELS
• FULL PLUMBING REPLACEMENT
• UPDATED UNIT-LEVEL ELECTRICAL
• RENOVATED UNITS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Building total area listed as 2,508 sq ft; Lot size approximately 0.12 acre; Green energy/efficiency features vary per unit
• HOA & community: Community features include nearby park

Exterior

• Parking: Six total parking spaces; Open parking available; Paved drive; Off-street parking; Assigned parking
• Utilities: Public water; Public sewer; 110 volt and 220 volt electric; Gas range and electric range provisions vary per unit; Washer hookup (varies per unit); Electric dryer provision
• Home design: 3-family building (3 units, up/down); Three stories; Approximate year built (public records)
• Construction: Post & beam construction; Cement board exterior; Stone/granite foundation; Rubber roof
• Exterior features: Covered patio/porch; Balcony/deck; Cleared lot; Shed(s); Public road frontage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 15 rooms across units (bedroom counts by unit not specified)
• Flooring: Tile; Vinyl; Stone/ceramic tile
• Bathrooms: Three full bathrooms
• Heating & cooling: Forced air heating; Heat pump heating; Electric heating; Three heating units; Heat pump cooling; Wall unit(s) cooling; Six cooling units
• Interior features: Remodeled with upgraded cabinets; Stone, granite or solid counters; Smart thermostat; Walk-in closet(s); Bathroom(s) with tub and shower; Living room and kitchen included; Laundry room
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $670k.

Deal economics

• At list price, monthly cash flow is $0 ($5/yr) — positive. Per door: $0/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 $526k (21.6% below list).
• Recommended offer: $526k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.0% in Fitchburg — 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 69/100 on livability (#137 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, health & safety B+; Watch: employment D+, crime D, schools D-.
• Fitchburg (suburban): math 15% / reading 30% proficiency, ranked #282 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 79 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $5,255/mo this rent would consume 87% of the median local household income ($73k/yr) (locally 1763% 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 $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $475k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $525,500 (21.6% 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.29%
• Cash-on-cash: 0.00%
• DSCR: 1.00
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $591,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
358-360 Fairmount St	0.34mi	5/3.0 (-1)	2,502 (-0%)	2mo	$406,000	$162	77
75 Beech St	0.51mi	6/4.0	2,400 (-4%)	2mo	$630,000	$263	63
110 Madison St	0.06mi	5/2.0 (-1)	2,772 (+10%)	15mo	$450,000	$162	58
33 Pratt St	0.17mi	6/2.0	2,184 (-13%)	13mo	$515,000	$236	56
483 Rollstone St	0.68mi	6/2.0	2,580 (+3%)	9mo	$515,000	$200	52
26 Pratt Rd	0.66mi	6/3.0	2,256 (-10%)	1mo	$665,000	$295	52
318 Charles St	0.72mi	5/3.0 (-1)	2,348 (-6%)	2mo	$594,000	$253	49
48 Silver St	0.48mi	5/2.5 (-1)	2,775 (+11%)	6mo	$580,000	$209	48
39 Allen Pl	0.39mi	6/3.0	2,223 (-11%)	18mo	$530,000	$238	48
211 Plymouth St	0.27mi	5/2.0 (-1)	2,178 (-13%)	13mo	$361,900	$166	45
426 Kimball St	0.67mi	6/3.0	2,736 (+9%)	18mo	$515,000	$188	38
459 Oak Hill Rd	0.46mi	5/2.0 (-1)	2,300 (-8%)	23mo	$600,000	$261	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 · 3.06% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-108,441
• Equity at exit: $99,899

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-93,966
• Equity at exit: $57,929

Cash invested: $187,600 (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 01420

• Home prices YoY: -25.2%
• Rents YoY: 3.1%
• Active inventory: 79
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $5,255 high
• Mortgage (P&I): −$3,514
• Tax from tax record: −$358 /mo · $4,300/yr
• Insurance: −$279
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,104
• Net cashflow: $0

Break-even live

Break-even rent $5,254

Max offer price $670,000

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,256
Total (3 units)			$5,255

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: $167,500
• Closing costs: $20,100
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $670,000 Active 16 DOM
2. 2026-06-17
   days on market $670,000 Active 15 DOM
3. 2026-06-16
   days on market $670,000 Active 14 DOM
4. 2026-06-15
   days on market $670,000 Active 13 DOM
5. 2026-06-14
   days on market $670,000 Active 11 DOM
6. 2026-06-10
   days on market $670,000 Active 8 DOM
7. 2026-06-09
   statusdays on market $670,000 Active 7 DOM
8. 2026-06-08
   days on market $670,000 Price Changed 6 DOM
9. 2026-06-07
   pricestatusdays on market $670,000 Price Changed 5 DOM
10. 2026-06-03
    remarks 687-char remark
11. 2026-06-03
    listed $679,000 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: $4,300 · $358/mo
• Projected year-2 tax: $6,270 · $523/mo
• Expected delta: +$1,970/yr (+$164/mo · 45.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $63,060
• − Mortgage interest: −$37,530
• − Property taxes: −$4,300
• − Insurance: −$3,350
• − Repairs & maintenance: −$5,045
• − Management: −$5,045
• − Depreciation: −$19,491
• Taxable loss: −$11,701
• Est. tax savings @ 24.0%: +$2,808
• After-tax cash flow: $2,813/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: Fitchburg
• NCES district ID: 2504890
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $48,430
• Composite: 19.78/100
• National rank: #8705
• State rank: #282 of 302 in MA

Livability — Fitchburg

• Score: 69/100
• State rank: #137
• US rank: #8435

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fitchburg, MA
• County: Worcester County · 487,911 people
• City population: 41,839
• Metro: Worcester, MA-CT
• Population (ZIP): 41,839
• Household income: $72,780
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1763.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 19% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 2%
• Common ancestry: Lithuanian 8% Romanian 3% Slovak 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 22% French/Haitian/Cajun 3% Other Indo-European 2%

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: ▼ -102.11%
• Current HPI: 303.1067
• Rent YoY: ▲ 3.06%
• Metro: Worcester, MA-CT
• 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

+1479.1% since first listed

6 events — show timeline

• 2026-06-02 Listed $679,000 MLS PIN
• 2025-05-08 Sold (MLS) $475,000 MLS PIN
• 2025-04-19 Pending — MLS PIN
• 2025-04-05 Contingent — MLS PIN
• 2025-04-03 Listed $475,000 MLS PIN
• 1991-01-10 Sold (Public Records) $43,000 Public Records

Property tax history

+4.5%/yr

Latest (2022): $4,300 · +11.0% YoY. Source: county tax records.