40 Hillside Ave · Warren, MA 01083

$269,000

3 bd · 2.0 ba · 1,774 sqft · SingleFamily public records · 89 Days on market

Built 1896 9,148 sqft lot $152/sqft · 20% below area Est $335k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• Schools +3.6/10.0
• DSCR +3.3/10.0
• 1% rule +3.2/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

Key facts

• Commuter location
• Outdoor dining
• First floor laundry

Tags

• FIRST FLOOR LAUNDRY
• OUTDOOR DINING
• VALUABLE STORAGE
• UNFINISHED ATTIC
• COMMUTER LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (18.1% below list).
• Recommended offer: $220k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.6% in Warren — 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 54/100 on livability (#243 in MA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A, health & safety B+; Watch: amenities F, commute F, employment F.
• Quaboag Regional (rural): math 31% / reading 51% proficiency, ranked #196 of 302 in MA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quaboag Regional Middle Innovation School (math 27% / reading 52%, grade F, #148 of 305 statewide, top 49%, 203 students, 0% FRL); Quaboag Regional High (math 52% / reading 77%, grade B-, #110 of 343 statewide, top 34%, 354 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 28 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y ago; this cycle's ask has dropped $19k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $269k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1896 — 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 $220,390 (18.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• GRM: 10.2

CMA / ARV

• ARV (median comp): $334,552
• List price: $269,000
• Delta: -19.59%
• 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
8 Otis St	0.06mi	3/2.5	1,649 (-7%)	3mo	$365,000	$221	81
10 Lombard St	0.35mi	3/1.5	1,698 (-4%)	10mo	$325,000	$191	67
124 Southbridge Rd	0.57mi	4/2.0 (+1)	1,775 (+0%)	6mo	$205,000	$115	63
72 Maple St	0.44mi	3/1.0	1,872 (+6%)	6mo	$250,000	$134	61
110 School St	0.09mi	4/2.0 (+1)	2,039 (+15%)	10mo	$220,000	$108	57
119 East Rd	0.66mi	3/2.0	1,832 (+3%)	8mo	$485,000	$265	57
129 East Rd	0.68mi	3/2.0	1,800 (+2%)	13mo	$442,000	$246	55
83 Comins Pond Rd	0.54mi	4/2.0 (+1)	1,540 (-13%)	0mo	$440,000	$286	48
100 Burbank Ave	0.72mi	4/2.5 (+1)	1,872 (+6%)	7mo	$410,500	$219	44
93 East Rd	0.62mi	4/1.5 (+1)	1,996 (+12%)	12mo	$179,900	$90	33
102 Coy Hill Rd	0.63mi	4/2.0 (+1)	1,544 (-13%)	13mo	$263,115	$170	33
143 Coy Hill Rd	0.73mi	4/2.0 (+1)	2,016 (+14%)	13mo	$469,000	$233	28

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-49,458
• Equity at exit: $40,109

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-50,575
• Equity at exit: $23,258

Cash invested: $75,320 (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 01083

• Home prices YoY: -7.2%
• Active inventory: 28
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,204 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$311 /mo · $3,729/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-92

Break-even live

Break-even rent $2,321

Max offer price $252,674

Occupancy floor 99%

Sensitivity live

Price	-10% $60	-5% $-16	+0% $-92	+5% $-169	+10% $-245
Rent	-10% $-267	-5% $-179	+0% $-92	+5% $-5	+10% $82
Rate	-1.0pp $43	-0.5pp $-24	base $-92	+0.5pp $-162	+1.0pp $-233

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-22
   days on market $269,000 Active 89 DOM
2. 2026-06-18
   days on market $269,000 Active 86 DOM
3. 2026-06-17
   days on market $269,000 Active 85 DOM
4. 2026-06-16
   days on market $269,000 Active 84 DOM
5. 2026-06-15
   days on market $269,000 Active 83 DOM
6. 2026-06-14
   days on market $269,000 Active 81 DOM
7. 2026-06-13
   days on market $269,000 Active 80 DOM
8. 2026-06-10
   days on market $269,000 Active 78 DOM
9. 2026-06-09
   days on market $269,000 Active 77 DOM
10. 2026-06-08
    days on market $269,000 Active 76 DOM
11. 2026-06-07
    days on market $269,000 Active 75 DOM
12. 2026-06-03
    statusdays on market $269,000 Active 71 DOM
13. 2026-06-02
    days on market $269,000 Price Changed 70 DOM
14. 2026-06-01
    days on market $269,000 Price Changed 69 DOM
15. 2026-05-31
    pricestatusdays on market $269,000 Price Changed 68 DOM
16. 2026-05-30
    statusdays on market $279,900 Active 67 DOM
17. 2026-05-09
    historical Contingent 993-char remark

    Show marketing remark (993 chars)

    At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

18. 2026-04-30
    price $279,900 993-char remark

    Show marketing remark (993 chars)

    At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

19. 2026-04-17
    status Back On Market 993-char remark

    Show marketing remark (993 chars)

    At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

20. 2026-04-08
    status Under Agreement 993-char remark

    Show marketing remark (993 chars)

    At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

21. 2026-03-25
    historical Contingent 993-char remark

    Show marketing remark (993 chars)

    At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

22. 2026-03-13
    listed $288,000 New 993-char remark

    Show marketing remark (993 chars)

    At 40 Hillside Ave in Warren, this 3-bedroom, 2-bath home offers a functional layout with features that support everyday living. Bright interior spaces provide flexibility for a variety of furniture arrangements, work-from-home needs, or entertaining. First-floor laundry adds convenience to daily routines, while two full baths help create an efficient flow throughout the home. The bedrooms offer comfortable spaces that can be tailored to your needs. Outside, the deck creates an inviting area for outdoor dining, relaxing, or enjoying fresh air. A shed adds valuable storage for tools, equipment, or seasonal items. Plus an unfinished attic allowing for more potential space. Great commuter location - 1 hour and 15 minutes from Boston, 40 minutes from Worcester, and 30 minutes from Springfield. With a thoughtful mix of interior comfort and useful exterior features, this property presents an excellent opportunity for buyers seeking space, versatility, and practical amenities in Warren

23. 2023-11-17
    soldstatus $135,000 Sold 535-char remark

    Show marketing remark (535 chars)

    Attention!!!! investors and owner-occupied/ Nice house in a quiet street. first floor offers, a living room with fireplace, dining room, kitchen, bedroom, and full bathroom. the second floor has 3 bedrooms with full bathroom also there is a third floor with huge living space or 5th bedroom. huge backyard with a nice shed and good size deck in the back. all windows are newer windows except 4 windows are old, updated electric panels. this house needs some work. all the utilities are off and it is for cash or rehab loan buyers only.

24. 2023-11-17
    historical 535-char remark

    Show marketing remark (535 chars)

    Attention!!!! investors and owner-occupied/ Nice house in a quiet street. first floor offers, a living room with fireplace, dining room, kitchen, bedroom, and full bathroom. the second floor has 3 bedrooms with full bathroom also there is a third floor with huge living space or 5th bedroom. huge backyard with a nice shed and good size deck in the back. all windows are newer windows except 4 windows are old, updated electric panels. this house needs some work. all the utilities are off and it is for cash or rehab loan buyers only.

25. 2023-11-16
    listed $154,900 535-char remark

    Show marketing remark (535 chars)

    Attention!!!! investors and owner-occupied/ Nice house in a quiet street. first floor offers, a living room with fireplace, dining room, kitchen, bedroom, and full bathroom. the second floor has 3 bedrooms with full bathroom also there is a third floor with huge living space or 5th bedroom. huge backyard with a nice shed and good size deck in the back. all windows are newer windows except 4 windows are old, updated electric panels. this house needs some work. all the utilities are off and it is for cash or rehab loan buyers only.

26. 1999-04-02
    soldstatus $84,600
27. 1999-03-26
    soldstatus $84,600
28. 1999-02-08
    historical
29. 1998-08-11
    listed $85,000
30. 1990-06-29
    soldstatus $101,000

ⓘ 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: $3,729 · $311/mo
• Projected year-2 tax: $3,729 · $311/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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,447
• − Mortgage interest: −$15,068
• − Property taxes: −$3,729
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,116
• − Management: −$2,116
• − Depreciation: −$7,825
• Taxable loss: −$5,752
• Est. tax savings @ 24.0%: +$1,381
• After-tax cash flow: $272/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: Quaboag Regional
• NCES district ID: 2512100
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $56,059
• Composite: 35.83/100
• National rank: #4825
• State rank: #196 of 302 in MA

Livability — Warren

• Score: 54/100
• State rank: #243
• US rank: #24180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,746
• Population (ZIP): 2,746

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: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Asian 5% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 27% Lithuanian 23% Serbian 3%
• Foreign-born: 4%
• Languages at home: 88% English-only · Spanish 6% Other Asian/Pacific 6%

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: ▼ -21.73%
• Current HPI: 280.5118
• 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

+177.1% since first listed

14 events — show timeline

• 2026-05-09 Contingent — MLS PIN
• 2026-04-30 Price Changed $279,900 MLS PIN
• 2026-04-17 Relisted — MLS PIN
• 2026-04-08 Pending — MLS PIN
• 2026-03-25 Contingent — MLS PIN
• 2026-03-13 Listed $288,000 MLS PIN
• 2023-11-17 Listing Removed — MLS PIN
• 2023-11-17 Sold (MLS) $135,000 MLS PIN
• 2023-11-16 Listed $154,900 MLS PIN
• 1999-04-02 Sold (MLS) $84,600 MLS PIN
• 1999-03-26 Sold (Public Records) $84,600 Public Records
• 1999-02-08 Listing Removed — MLS PIN
• 1998-08-11 Listed $85,000 MLS PIN
• 1990-06-29 Sold (Public Records) $101,000 Public Records

Property tax history

+2.9%/yr

Latest (2023): $3,729 · +13.0% YoY. Source: county tax records.