52-56 Green St · Athol, MA 01331

$499,000

9 bd · 4.5 ba · 4,440 sqft · MultiFamily public records · 98 Days on market

Built 1891 0.27 ac lot $112/sqft · 14% above area Est $439k · 14% over

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Why this score? — see what drove the C 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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +7.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +1.4/15.0
• 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

Investors take note! Exceptional opportunity to own a spacious three-unit multi-family property offering strong income potential & versatile living options. Each unit features its own private deck & generous storage space & electric is separately metered for each unit. The 1st unit offers convenient single-level living w/ 2 bedrooms, full bath, a spacious eat-in kitchen & living room. 2nd unit boasts a bright living room w/ a bay window, eat-in kitchen, 2 bedrooms & a half bath on the main level, plus 2 addit'l bedrooms & full bath on the 2nd floor. The third unit spans 3 levels & provides expansive living space, including an eat-in kitchen w/ walk-

Key facts

• Private deck
• Bay window
• Eat-in kitchen

Tags

• PRIVATE DECK
• GENEROUS STORAGE SPACE
• SEPARATELY METERED ELECTRIC
• SINGLE-LEVEL LIVING
• EAT-IN KITCHEN
• BAY WINDOW

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.5-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $515/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $499k).
• Recommended offer: $454k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.0% in Athol — 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 74/100 on livability (#84 in MA, #4,383 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment D, amenities F.
• Athol-Royalston (town): math 22% / reading 33% proficiency, ranked #265 of 302 in MA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Athol-Royalston Middle School (math 15% / reading 24%, grade F, #258 of 305 statewide, top 86%, 429 students, 0% FRL); Athol High (math 22% / reading 42%, grade F, #255 of 343 statewide, top 77%, 404 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 48 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($454k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $454,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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 1891 — 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 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?
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: 1.20% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.27%
• DSCR: 1.59
• GRM: 7.0

CMA / ARV

• ARV (median comp): $439,116
• List price: $499,000
• Delta: 13.64%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.2%
• Equity multiple: 1.13×
• Total profit: $17,476
• Equity at exit: $74,403

10-year hold

• IRR: 12.8%
• Equity multiple: 2.01×
• Total profit: $141,621
• Equity at exit: $43,144

Cash invested: $139,720 (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 01331

• Home prices YoY: -9.9%
• Active inventory: 48
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $5,973 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$349 /mo · $4,185/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,254
• Net cashflow: $1,545

Break-even live

Break-even rent $4,017

Max offer price $499,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,828	-5% $1,686	+0% $1,545	+5% $1,404	+10% $1,263
Rent	-10% $1,073	-5% $1,309	+0% $1,545	+5% $1,781	+10% $2,017
Rate	-1.0pp $1,796	-0.5pp $1,672	base $1,545	+0.5pp $1,416	+1.0pp $1,284

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$5,973
Total (3 units)			$5,973

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $499,000 Active 98 DOM
2. 2026-06-21
   days on market $499,000 Active 97 DOM
3. 2026-06-18
   days on market $499,000 Active 95 DOM
4. 2026-06-17
   days on market $499,000 Active 94 DOM
5. 2026-06-16
   days on market $499,000 Active 93 DOM
6. 2026-06-15
   days on market $499,000 Active 92 DOM
7. 2026-06-13
   days on market $499,000 Active 90 DOM
8. 2026-06-12
   days on market $499,000 Active 89 DOM
9. 2026-06-09
   days on market $499,000 Active 86 DOM
10. 2026-06-08
    days on market $499,000 Active 85 DOM
11. 2026-06-07
    days on market $499,000 Active 84 DOM
12. 2026-06-07
    days on market $499,000 Active 83 DOM
13. 2026-06-04
    days on market $499,000 Active 80 DOM
14. 2026-06-02
    days on market $499,000 Active 79 DOM
15. 2026-06-01
    days on market $499,000 Active 78 DOM
16. 2026-05-31
    days on market $499,000 Active 77 DOM
17. 2026-05-31
    days on market $499,000 Active 76 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: $4,185 · $349/mo
• Projected year-2 tax: $5,161 · $430/mo
• Expected delta: +$976/yr (+$81/mo · 23.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $71,676
• − Mortgage interest: −$27,952
• − Property taxes: −$4,185
• − Insurance: −$2,495
• − Repairs & maintenance: −$5,734
• − Management: −$5,734
• − Depreciation: −$14,516
• Taxable income: $11,060
• Est. tax owed @ 24.0%: −$2,654
• After-tax cash flow: $15,888/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: Athol-Royalston
• NCES district ID: 2502160
• Math proficiency: 22% ▼ -14.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $49,570
• Composite: 24.05/100
• National rank: #7764
• State rank: #265 of 302 in MA

Livability — Athol

• Score: 74/100
• State rank: #84
• US rank: #4383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athol, MA
• Population (ZIP): 13,865

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 5% Two or more races 4% Black 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 14% Romanian 6% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 2% German/W. Germanic 1%

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: ▼ -37.02%
• Current HPI: 336.1238
• 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

Property tax history

+3.5%/yr

Latest (2023): $4,185 · +18.7% YoY. Source: county tax records.