23-27 West St · Ware, MA 01082

$565,900

6 bd · 3.0 ba · 4,227 sqft · MultiFamily public records · 172 Days on market

Built 1850 0.26 ac lot $134/sqft · 78% above 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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• 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

INVESTORS TAKE NOTICE. Two buildings on one lot with a total of 5 units near the center of town and nearby all amenities.

Key facts

• Five units
• Nearby amenities
• Center of town

Tags

• TWO BUILDINGS
• FIVE UNITS
• CENTER OF TOWN
• NEARBY AMENITIES

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $566k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive. Per door: $110/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 $492k (13.0% below list).
• Recommended offer: $492k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.8% in Ware — 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 59/100 on livability (#227 in MA) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, housing A; Watch: crime D-, amenities F, commute F.
• Ware (rural): math 21% / reading 37% proficiency, ranked #257 of 302 in MA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Stanley M Koziol Elementary School (math 8% / reading 37%, grade F, #753 of 938 statewide, top 81%, 379 students, 0% FRL); Ware Middle School (math 27% / reading 40%, grade F, #188 of 305 statewide, top 62%, 248 students, 0% FRL); Ware Junior/Senior High School (math 20% / reading 35%, grade F, #275 of 343 statewide, top 80%, 497 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 37 active listings in the ZIP; 349 units permitted in Hampshire County in 2024 (185 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 $17k of value loss. Plan a longer hold.
• Hampshire County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($498k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $566k implies a 843% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — 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 $492,100 (13.0% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 13% 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 1850 — 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. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.87% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.49%
• DSCR: 1.11
• GRM: 9.6

CMA / ARV

• ARV (median comp): $317,169
• List price: $565,900
• Delta: 78.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92 W Main St	0.21mi	6/2.0	4,289 (+2%)	18mo	$270,000	$63	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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-70,915
• Equity at exit: $84,378

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-35,381
• Equity at exit: $48,929

Cash invested: $158,452 (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 01082

• Home prices YoY: -19.5%
• Active inventory: 37
• Price-to-rent: 28.7×

Monthly cashflow live

• Estimated rent: $4,921 high
• Mortgage (P&I): −$2,968
• Tax from tax record: −$356 /mo · $4,267/yr
• Insurance: −$236
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,033
• Net cashflow: $329

Break-even live

Break-even rent $4,505

Max offer price $565,900

Occupancy floor 88%

Sensitivity live

Price	-10% $649	-5% $489	+0% $329	+5% $168	+10% $8
Rent	-10% $-60	-5% $134	+0% $329	+5% $523	+10% $717
Rate	-1.0pp $614	-0.5pp $473	base $329	+0.5pp $182	+1.0pp $33

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$4,920
Total (3 units)			$4,921

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: $141,475
• Closing costs: $16,977
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $565,900 Active 172 DOM
2. 2026-06-18
   days on market $565,900 Active 169 DOM
3. 2026-06-17
   days on market $565,900 Active 168 DOM
4. 2026-06-16
   days on market $565,900 Active 167 DOM
5. 2026-06-15
   days on market $565,900 Active 166 DOM
6. 2026-06-14
   days on market $565,900 Active 164 DOM
7. 2026-06-13
   days on market $565,900 Active 163 DOM
8. 2026-06-10
   days on market $565,900 Active 161 DOM
9. 2026-06-09
   days on market $565,900 Active 160 DOM
10. 2026-06-08
    days on market $565,900 Active 159 DOM
11. 2026-06-07
    days on market $565,900 Active 158 DOM
12. 2026-06-05
    days on market $565,900 Active 155 DOM
13. 2026-06-03
    days on market $565,900 Active 154 DOM
14. 2026-06-02
    days on market $565,900 Active 153 DOM
15. 2026-06-01
    days on market $565,900 Active 152 DOM
16. 2026-05-31
    days on market $565,900 Active 151 DOM
17. 2026-05-30
    days on market $565,900 Active 150 DOM
18. 2026-04-15
    price $565,900 121-char remark

    Show marketing remark (121 chars)

    INVESTORS TAKE NOTICE. Two buildings on one lot with a total of 5 units near the center of town and nearby all amenities.

19. 2026-03-05
    price $575,900 121-char remark

    Show marketing remark (121 chars)

    INVESTORS TAKE NOTICE. Two buildings on one lot with a total of 5 units near the center of town and nearby all amenities.

20. 2025-12-31
    listed $595,900 New 121-char remark

    Show marketing remark (121 chars)

    INVESTORS TAKE NOTICE. Two buildings on one lot with a total of 5 units near the center of town and nearby all amenities.

21. 2012-08-17
    soldstatus $60,000 435-char remark

    Show marketing remark (435 chars)

    Great investment opportunity. Awesome two buildings on one lot. Five bright spacious units. Located in a safe and high rental demand area, convenient to shopping, transportation and the center of the town. Perfect for a long-term investor with a great cash flow or for resale for a handsome profit. Priced aggressively for a quick sale. A very low maintenance. This is truly an exceptional deal given the price, location and condition!

22. 2012-05-19
    listed $69,900 435-char remark

    Show marketing remark (435 chars)

    Great investment opportunity. Awesome two buildings on one lot. Five bright spacious units. Located in a safe and high rental demand area, convenient to shopping, transportation and the center of the town. Perfect for a long-term investor with a great cash flow or for resale for a handsome profit. Priced aggressively for a quick sale. A very low maintenance. This is truly an exceptional deal given the price, location and condition!

23. 2006-10-13
    soldstatus $180,000
24. 2006-10-13
    soldstatus $180,000
25. 2006-05-24
    listed $219,000

ⓘ 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: $4,267 · $356/mo
• Projected year-2 tax: $5,614 · $468/mo
• Expected delta: +$1,347/yr (+$112/mo · 31.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥92°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,052
• − Mortgage interest: −$31,699
• − Property taxes: −$4,267
• − Insurance: −$2,830
• − Repairs & maintenance: −$4,724
• − Management: −$4,724
• − Depreciation: −$16,463
• Taxable loss: −$5,655
• Est. tax savings @ 24.0%: +$1,357
• After-tax cash flow: $5,300/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: Ware
• NCES district ID: 2512030
• Math proficiency: 21% ▼ -12.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $49,410
• Composite: 25.26/100
• National rank: #7496
• State rank: #257 of 302 in MA

Livability — Ware

• Score: 59/100
• State rank: #227
• US rank: #20229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ware, MA
• Population (ZIP): 10,418

Population outlook (Hampshire County) Hauer SSP2

• Today (2025): 166,577 people
• By 2030: 168,928 · +1.4%
• By 2040: 171,197 · +2.8%
• By 2050: 175,542 · +5.4%
• By 2075: 199,884 · +20.0%
• By 2100: 211,819 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 3% Black 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 16% Lithuanian 12% Slovak 5%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hampshire

• 2024 margin: Solid D (+41.9) · D 69.5% · R 27.6% · Other 2.9%
• 2008→2024 swing: -3.6pp toward R · 2008: 45.6pp · 2024: 41.9pp
• All cycles: 2024: D+41.9 2020: D+46.8 2016: D+39.5 2012: D+43.8 2008: D+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.52%
• Current HPI: 266.7262
• 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

+158.4% since first listed

8 events — show timeline

• 2026-04-15 Price Changed $565,900 MLS PIN
• 2026-03-05 Price Changed $575,900 MLS PIN
• 2025-12-31 Listed $595,900 MLS PIN
• 2012-08-17 Sold (MLS) $60,000 MLS PIN
• 2012-05-19 Listed $69,900 MLS PIN
• 2006-10-13 Sold (Public Records) $180,000 Public Records
• 2006-10-13 Sold (MLS) $180,000 MLS PIN
• 2006-05-24 Listed $219,000 MLS PIN

Property tax history

+1.5%/yr

Latest (2023): $4,267 · -2.0% YoY. Source: county tax records.