27 Hall St · North Adams, MA 01247

$59,900

6 bd · 2.0 ba · 2,518 sqft · MultiFamily public records · 129 Days on market

Built 1890 0.33 ac lot $24/sqft · 64% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.9/10.0
• Schools +1.8/10.0

Multi-family units

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

Listing remarks MLS

Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

Key facts

• Full bathroom
• Newer wiring
• 2 unit

Tags

• 2 UNIT
• FULL BATHROOM
• NEWER FRAMING
• NEWER WIRING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $955/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 44.6% vs local median 5.8% in North Adams — 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 55/100 on livability (#242 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, schools F.
• North Adams (town): math 14% / reading 29% proficiency, ranked #291 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $40k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 5.09% ✓
• Cap rate: 44.57%
• Cash-on-cash: 136.69%
• DSCR: 7.08
• GRM: 1.6

CMA / ARV

• ARV (median comp): $164,901
• List price: $59,900
• Delta: -63.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33-35 Hall St	0.01mi	5/2.0 (-1)	2,584 (+3%)	2mo	$279,900	$108	89
66-68 Bracewell Ave	0.12mi	6/2.0	2,544 (+1%)	6mo	$111,500	$44	87
62-64 Chase Ave	0.22mi	6/4.0	2,522 (+0%)	2mo	$135,000	$54	80
164 - 166 Houghton St	0.31mi	6/2.5	2,550 (+1%)	2mo	$130,000	$51	79
12-14 Orchard Ter	0.08mi	6/2.0	2,884 (+14%)	0mo	$161,000	$56	72
47-51 Franklin St	0.16mi	5/3.0 (-1)	2,366 (-6%)	13mo	$339,000	$143	63
93-95 Bracewell Ave	0.15mi	7/2.5 (+1)	2,342 (-7%)	15mo	$248,000	$106	62
324 E Main St #2	0.45mi	6/2.0	2,500 (-1%)	23mo	$230,000	$92	59
57 Beacon St	0.27mi	7/3.0 (+1)	2,302 (-9%)	8mo	$275,000	$119	58
152 Furnance St	0.70mi	6/3.0	2,282 (-9%)	5mo	$325,000	$142	43
86 W Main St	0.58mi	5/3.0 (-1)	2,567 (+2%)	22mo	$182,000	$71	42
380 Union St	0.60mi	5/3.0 (-1)	2,864 (+14%)	7mo	$300,000	$105	34

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: —
• Equity multiple: 7.68×
• Total profit: $112,070
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 16.18×
• Total profit: $254,666
• Equity at exit: $5,179

Cash invested: $16,772 (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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $3,049 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$159 /mo · $1,910/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $1,910

Break-even live

Break-even rent $631

Max offer price $59,900

Occupancy floor 32%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,050
Total (2 units)			$3,049

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $59,900 Active 129 DOM
2. 2026-06-17
   days on market $59,900 Active 128 DOM
3. 2026-06-16
   days on market $59,900 Active 127 DOM
4. 2026-06-15
   days on market $59,900 Active 126 DOM
5. 2026-06-13
   days on market $59,900 Active 124 DOM
6. 2026-06-12
   days on market $59,900 Active 123 DOM
7. 2026-06-09
   days on market $59,900 Active 120 DOM
8. 2026-06-08
   days on market $59,900 Active 119 DOM
9. 2026-06-07
   statusdays on market $59,900 Active 118 DOM
10. 2026-06-07
    days on market $59,900 Price Changed 117 DOM
11. 2026-06-04
    pricestatusdays on market $59,900 Price Changed 114 DOM
12. 2026-06-02
    days on market $69,900 Active 113 DOM
13. 2026-06-01
    days on market $69,900 Active 112 DOM
14. 2026-05-31
    days on market $69,900 Active 111 DOM
15. 2026-05-31
    days on market $69,900 Active 110 DOM
16. 2026-05-14
    price $69,900 236-char remark

    Show marketing remark (236 chars)

    Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

17. 2026-04-29
    price $74,900 236-char remark

    Show marketing remark (236 chars)

    Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

18. 2026-04-15
    price $79,900 236-char remark

    Show marketing remark (236 chars)

    Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

19. 2026-03-21
    price $84,900 236-char remark

    Show marketing remark (236 chars)

    Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

20. 2026-03-05
    price $89,900 236-char remark

    Show marketing remark (236 chars)

    Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

21. 2026-02-09
    listed $99,900 New 236-char remark

    Show marketing remark (236 chars)

    Come see this 2-unit today! Both units feature 3 bedrooms and a full bathroom. Property is mostly gutted and ready to be renovated. Some newer framing and wiring has already been started. Finish this project and make it shine again!

22. 2023-10-16
    soldstatus $66,000 67-char remark

    Show marketing remark (67 chars)

    Two-family flat fixer-upper with separate utilities and large yard.

23. 2023-10-09
    listed $66,000 67-char remark

    Show marketing remark (67 chars)

    Two-family flat fixer-upper with separate utilities and large yard.

24. 2005-09-29
    soldstatus $73,000
25. 2005-03-18
    listed $80,000
26. 1999-07-28
    soldstatus $48,000
27. 1999-07-28
    soldstatus $48,000
28. 1999-04-19
    listed $45,000

ⓘ 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: $1,910 · $159/mo
• Projected year-2 tax: $1,910 · $159/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 9 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,588
• − Mortgage interest: −$3,355
• − Property taxes: −$1,910
• − Insurance: −$300
• − Repairs & maintenance: −$2,927
• − Management: −$2,927
• − Depreciation: −$1,743
• Taxable income: $23,427
• Est. tax owed @ 24.0%: −$5,622
• After-tax cash flow: $17,303/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: North Adams
• NCES district ID: 2508670
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $36,746
• Composite: 17.83/100
• National rank: #9006
• State rank: #291 of 302 in MA

Livability — North Adams

• Score: 55/100
• State rank: #242
• US rank: #23506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Adams, MA
• City population: 14,967
• Population (ZIP): 14,967

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 15% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 0%

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: ▼ -6.22%
• Current HPI: 298.8949
• 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

+55.3% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $69,900 MLS PIN
• 2026-04-29 Price Changed $74,900 MLS PIN
• 2026-04-15 Price Changed $79,900 MLS PIN
• 2026-03-21 Price Changed $84,900 MLS PIN
• 2026-03-05 Price Changed $89,900 MLS PIN
• 2026-02-09 Listed $99,900 MLS PIN
• 2023-10-16 Sold (MLS) $66,000 BCMLS
• 2023-10-09 Listed $66,000 BCMLS
• 2005-09-29 Sold (MLS) $73,000 MLS PIN
• 2005-03-18 Listed $80,000 MLS PIN
• 1999-07-28 Sold (Public Records) $48,000 Public Records
• 1999-07-28 Sold (MLS) $48,000 BCMLS
• 1999-04-19 Listed $45,000 BCMLS

Property tax history

+2.2%/yr

Latest (2023): $1,910 · +2.4% YoY. Source: county tax records.