78-80 Harvard St · Pittsfield, MA 01201

$329,000

6 bd · 2.5 ba · 2,592 sqft · MultiFamily public records · 23 Days on market

Built 1925 0.25 ac lot Est $241k · 36% 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +6.6/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Owner side is currently unoccuppied. Owner side has 1.5 bath, wood floors, natural woodwork. Rental side has long time tenants who would have 3 months after the closing date to move if needed. Tenant side is in immaculate condition.

Key facts

• Hardwood flooring
• Natural gas heating
• Tall ceilings

Tags

• NATURAL GAS HEATING
• UPDATED HOT WATER HEATERS
• REBUILT FRONT PORCH
• ORIGINAL WOODWORK
• HARDWOOD FLOORING
• TALL CEILINGS

Property features AI

Exterior

• Utilities: Public sewer
• Construction: Asphalt roof; Total building area 2592
• Exterior features: Deck; Porch

Interior

• Kitchen: Refrigerator
• Flooring: Wood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Cable available
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $329k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive. Per door: $439/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $324k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.6% in Pittsfield — 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 75/100 on livability (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, crime D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Allendale (math 22% / reading 42%, grade F, #628 of 938 statewide, top 69%, 273 students, 0% FRL); Pittsfield High (math 32% / reading 57%, grade F, #203 of 343 statewide, top 60%, 651 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.7%/yr); 278 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $3,832/mo this rent would consume 65% of the median local household income ($71k/yr) (locally 1580% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 + 7.7% rent growth), your $92k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $115k; list at $329k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $324,065 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.45%
• DSCR: 1.51
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $241,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
65-67 Dalton Ave	0.08mi	6/2.0	2,463 (-5%)	16mo	$230,000	$93	72
176 Woodlawn Ave	0.14mi	6/2.0	2,808 (+8%)	16mo	$295,000	$105	64
52-54 Brown St	0.46mi	6/3.0	2,736 (+6%)	8mo	$321,000	$117	61
29 Glenwood Ave	0.56mi	6/2.0	2,736 (+6%)	3mo	$242,340	$89	60
12 Scammell Ave	0.35mi	6/2.0	2,736 (+6%)	18mo	$70,000	$26	57
303 Springside Ave	0.11mi	5/4.5 (-1)	2,912 (+12%)	11mo	$365,000	$125	52
12 Willow St	0.64mi	6/2.0	2,400 (-7%)	12mo	$215,000	$90	46
169-171 Brown St	0.43mi	6/3.5	2,832 (+9%)	18mo	$265,000	$94	46
24 Maple St	0.64mi	6/2.0	2,438 (-6%)	20mo	$153,000	$63	42
44-46 Cherry St	0.69mi	7/3.5 (+1)	2,380 (-8%)	14mo	$210,000	$88	33
43-45 Cherry St	0.71mi	5/3.0 (-1)	2,354 (-9%)	16mo	$180,000	$76	32
39-41 Cherry St	0.72mi	7/4.0 (+1)	2,770 (+7%)	16mo	$270,000	$97	31

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 · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.24×
• Total profit: $21,694
• Equity at exit: $49,055

10-year hold

• IRR: 18.9%
• Equity multiple: 2.92×
• Total profit: $177,131
• Equity at exit: $28,446

Cash invested: $92,120 (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 01201

• Rents YoY: 7.7%
• Active inventory: 278
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,832 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$286 /mo · $3,435/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$805
• Net cashflow: $879

Break-even live

Break-even rent $2,720

Max offer price $329,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,065	-5% $972	+0% $879	+5% $786	+10% $692
Rent	-10% $576	-5% $727	+0% $879	+5% $1,030	+10% $1,181
Rate	-1.0pp $1,044	-0.5pp $962	base $879	+0.5pp $793	+1.0pp $707

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,832
Total (2 units)			$3,832

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $329,000 Active 23 DOM
2. 2026-06-19
   days on market $329,000 Active 21 DOM
3. 2026-06-18
   days on market $329,000 Active 20 DOM
4. 2026-06-17
   days on market $329,000 Active 19 DOM
5. 2026-06-16
   days on market $329,000 Active 18 DOM
6. 2026-06-15
   days on market $329,000 Active 17 DOM
7. 2026-06-14
   days on market $329,000 Active 15 DOM
8. 2026-06-12
   days on market $329,000 Active 14 DOM
9. 2026-06-09
   days on market $329,000 Active 11 DOM
10. 2026-06-08
    days on market $329,000 Active 10 DOM
11. 2026-06-07
    days on market $329,000 Active 9 DOM
12. 2026-06-05
    days on market $329,000 Active 6 DOM
13. 2026-06-02
    days on market $329,000 Active 4 DOM
14. 2026-06-01
    days on market $329,000 Active 3 DOM
15. 2026-05-31
    days on market $329,000 Active 2 DOM
16. 2026-05-29
    listed $329,000 Active
17. 2003-12-01
    soldstatus $114,900 232-char remark

    Show marketing remark (232 chars)

    Owner side is currently unoccuppied. Owner side has 1.5 bath, wood floors, natural woodwork. Rental side has long time tenants who would have 3 months after the closing date to move if needed. Tenant side is in immaculate condition.

18. 2003-12-01
    soldstatus $114,900

    Show marketing remark (232 chars)

    Owner side is currently unoccuppied. Owner side has 1.5 bath, wood floors, natural woodwork. Rental side has long time tenants who would have 3 months after the closing date to move if needed. Tenant side is in immaculate condition.

19. 2003-10-13
    listed $114,900 232-char remark

    Show marketing remark (232 chars)

    Owner side is currently unoccuppied. Owner side has 1.5 bath, wood floors, natural woodwork. Rental side has long time tenants who would have 3 months after the closing date to move if needed. Tenant side is in immaculate condition.

ⓘ 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: $3,435 · $286/mo
• Projected year-2 tax: $3,741 · $312/mo
• Expected delta: +$306/yr (+$25/mo · 8.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $45,984
• − Mortgage interest: −$18,429
• − Property taxes: −$3,435
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,679
• − Management: −$3,679
• − Depreciation: −$9,571
• Taxable income: $5,547
• Est. tax owed @ 24.0%: −$1,331
• After-tax cash flow: $9,212/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, MA
• 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

+186.3% since first listed

4 events — show timeline

• 2026-05-29 Listed $329,000 BCMLS
• 2003-12-01 Sold (Public Records) $114,900 Public Records
• 2003-12-01 Sold (MLS) $114,900 BCMLS
• 2003-10-13 Listed $114,900 BCMLS

Property tax history

+4.0%/yr

Latest (2023): $3,435 · +4.0% YoY. Source: county tax records.