4 Davis St · Shirley, MA 01464

$2,030,000

13 bd · 10.0 ba · 7,256 sqft · MultiFamily public records · 92 Days on market

Built 1885 0.27 ac lot

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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 +17.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +5.0/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Northeast Private Client Group is pleased to present the Davis Street Apartments at 4 Davis Street in Shirley, MA. Fully tenanted, income-generating 10-unit multifamilyproperty located in the heart of Shirley, Massachusetts. The brick apartment building contains approximately 7,256 square feet of finished living space across 10 units. Comprised of eight (8) one-bedrooms, a two-bedroom & a three-bedroom, situated on a 0.27-acre lot. The new owner can purchase a multifamily asset with upside potential through market rents and light renovations. Strong rental history in a high-demand commuter location. All interested parties will have the opportunity to tour the building during scheduled

Key facts

• Multifamily property
• 0.27 acre lot
• 10 parking spots

Tags

• MULTIFAMILY PROPERTY
• HIGH DEMAND COMMUTER LOCATION
• STRONG RENTAL HISTORY

Property features AI

Finance

• Other: Property is listed as active
• HOA & community: Community features include public transportation access, laundromat, highway access, public school proximity, and a nearby T-Station; Not a senior community

Exterior

• Parking: 10 open parking spaces
• Utilities: Public water; Public sewer
• Home design: 5+ family building with units up and down; 3 stories total; Approximately 7,256 total building area
• Construction: Stone foundation; Year built reported from public records (approximate)
• Exterior features: Rubber roof; 0.27-acre lot; Paved driveway

Interior

• Bathrooms: 10 full bathrooms
• Interior features: Total of 31 rooms; Each of the two primary units is a single-story unit; Both primary units are leased

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/?-bath units multifamily listed at $2.03M.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $146/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 $1.80M (11.3% below list).
• Recommended offer: $1.80M (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.1% in Shirley — 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 (#145 in MA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: cost of living C-, schools D+, amenities F.
• Market conditions: 15 active listings in the ZIP; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $14k of loan paydown is wiped out by about $61k of value loss. Plan a longer hold.
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($1.85M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $180k; list at $2.03M implies a 1028% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — 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 $1,800,300 (11.3% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 11% 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 1885 — 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. 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?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.08%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-236,571
• Equity at exit: $302,680

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-88,456
• Equity at exit: $175,517

Cash invested: $568,400 (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 01464

• Home prices YoY: -12.9%
• Active inventory: 15
• Price-to-rent: 94.0×

Monthly cashflow live

• Estimated rent: $18,003 medium
• Mortgage (P&I): −$10,646
• Tax from tax record: −$1,273 /mo · $15,272/yr
• Insurance: −$846
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,781
• Net cashflow: $1,458

Break-even live

Break-even rent $16,157

Max offer price $2,030,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	—	$18,000
Total (10 units)			$18,003

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: $507,500
• Closing costs: $60,900
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   days on market $2,030,000 Active 92 DOM
2. 2026-06-01
   days on market $2,030,000 Active 91 DOM
3. 2026-05-31
   days on market $2,030,000 Active 90 DOM
4. 2026-04-17
   price $2,030,000
5. 2026-03-02
   listed $2,145,000 New
6. 1988-05-20
   soldstatus $180,000

ⓘ 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: $15,272 · $1,273/mo
• Projected year-2 tax: $20,120 · $1,677/mo
• Expected delta: +$4,848/yr (+$404/mo · 31.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 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: $216,036
• − Mortgage interest: −$113,712
• − Property taxes: −$15,272
• − Insurance: −$10,150
• − Repairs & maintenance: −$17,283
• − Management: −$17,283
• − Depreciation: −$59,055
• Taxable loss: −$16,718
• Est. tax savings @ 24.0%: +$4,012
• After-tax cash flow: $21,512/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)

No district data.

Livability — Shirley

• Score: 69/100
• State rank: #145
• US rank: #8998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shirley, MA
• Population (ZIP): 7,017

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: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Black 6% Two or more races 3% Asian 3%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Lithuanian 10% Slovak 7% Romanian 6%
• Foreign-born: 7% · Canada, Jamaica, South Korea
• Languages at home: 88% English-only · Spanish 6% German/W. Germanic 1% French/Haitian/Cajun 1%

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: ▼ -38.49%
• Current HPI: 259.7214
• 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

+1027.8% since first listed

3 events — show timeline

• 2026-04-17 Price Changed $2,030,000 MLS PIN
• 2026-03-02 Listed $2,145,000 MLS PIN
• 1988-05-20 Sold (Public Records) $180,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $15,272 · -1.1% YoY. Source: county tax records.