88 Cross St · Southbridge Town, MA 01550

$1,320,000

9 bd · 8.0 ba · 5,224 sqft · MultiFamily public records · 23 Days on market

Built 1900 9,226 sqft lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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 MLS

8 - Family can be purchased as a package deal of 6 properties total for the purchase price of $1,207,405. See MLS#s 71997046, 71997082, 71997064, 71990679, & 71991903.

Key facts

• Below-market rents
• Multifamily property
• Easy highway access

Tags

• MULTIFAMILY PROPERTY
• STRONG RENTAL HISTORY
• BELOW-MARKET RENTS
• UPSIDE POTENTIAL
• EASY HIGHWAY ACCESS
• PROXIMITY TO LOCAL AMENITIES

Property features AI

Finance

• Other: Some units are leased (units 1 and 2 leased; units 3 and 4 not leased); Total of 4 described units, each primarily single-level
• Financial info: Total building area approximately 5,224; Lot size about 0.21 acre
• HOA & community: Not a senior community

Exterior

• Parking: 7 off-street parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers and 100 Amp service (other details see remarks); Gas and electric oven hookups
• Home design: 5–9 family multi-unit property; 6 stories
• Construction: Frame construction (see remarks); Stone foundation; Shingle, rubber and other roof materials; Year built: Unknown/mixed (source: public records); Lead paint present; certified treated
• Exterior features: Porch; Unimproved road frontage on a public road

Interior

• Kitchen: Gas and electric oven capability
• Bedrooms: Multiple rental units (see unit details) — units are primarily single-level
• Flooring: Vinyl; Carpet; Hardwood
• Bathrooms: 8 full bathrooms
• Interior features: 21 total rooms; Partial, unfinished basement; Washer hookup available
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 6×2bd/1.0ba + 2×3bd/1.0ba units multifamily listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $344/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.32M).
• Recommended offer: $1.30M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.7% in Southbridge Town — 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 56/100 on livability (#235 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, employment D, schools F.
• Southbridge (suburban): math 5% / reading 17% proficiency, ranked #301 of 302 in MA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 35 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $13,559/mo this rent would consume 245% of the median local household income ($66k/yr) (locally 1217% 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 $9k of loan paydown is wiped out by about $40k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($1.30M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $190k; list at $1.32M implies a 595% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $1,300,200 (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 1900 — 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 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $517,176
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 South St	0.15mi	8/— (-1)	5,625 (+8%)	23mo	$350,000	$62	56
77 Off Hamilton St	0.27mi	10/4.5 (+1)	4,575 (-12%)	1mo	$555,000	$121	47
103 Elm St	0.57mi	9/3.0	4,722 (-10%)	23mo	$466,000	$99	18

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-39,253
• Equity at exit: $196,816

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $189,289
• Equity at exit: $114,129

Cash invested: $369,600 (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 01550

• Home prices YoY: -7.8%
• Active inventory: 35
• Price-to-rent: 67.4×

Monthly cashflow live

• Estimated rent: $13,559 medium
• Mortgage (P&I): −$6,922
• Tax from tax record: −$489 /mo · $5,872/yr
• Insurance: −$550
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,847
• Net cashflow: $2,750

Break-even live

Break-even rent $10,078

Max offer price $1,320,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$9,792
▸ 2× units	3	1	$3,768
Total (8 units)			$13,559

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: $330,000
• Closing costs: $39,600
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $1,320,000 Active 23 DOM
2. 2026-06-17
   days on market $1,320,000 Active 22 DOM
3. 2026-06-16
   days on market $1,320,000 Active 21 DOM
4. 2026-06-15
   days on market $1,320,000 Active 20 DOM
5. 2026-06-14
   days on market $1,320,000 Active 18 DOM
6. 2026-06-10
   days on market $1,320,000 Active 15 DOM
7. 2026-06-09
   days on market $1,320,000 Active 14 DOM
8. 2026-06-08
   days on market $1,320,000 Active 13 DOM
9. 2026-06-07
   days on market $1,320,000 Active 12 DOM
10. 2026-06-05
    days on market $1,320,000 Active 9 DOM
11. 2026-06-03
    days on market $1,320,000 Active 8 DOM
12. 2026-06-02
    days on market $1,320,000 Active 7 DOM
13. 2026-06-01
    days on market $1,320,000 Active 6 DOM
14. 2026-05-31
    days on market $1,320,000 Active 5 DOM
15. 2026-05-31
    statusdays on market $1,320,000 Active 4 DOM
16. 2026-05-26
    listed $1,320,000 New
17. 2024-11-14
    historical $1,600
18. 2024-10-23
    listed $1,600
19. 2024-10-23
    historical $1,525
20. 2024-10-22
    listed $1,525
21. 2017-03-10
    soldstatus $190,000 Sold 172-char remark

    Show marketing remark (172 chars)

    8 - Family can be purchased as a package deal of 6 properties total for the purchase price of $1,207,405. See MLS#s 71997046, 71997082, 71997064, 71990679, & 71991903.

22. 2017-03-10
    soldstatus $190,000

    Show marketing remark (172 chars)

    8 - Family can be purchased as a package deal of 6 properties total for the purchase price of $1,207,405. See MLS#s 71997046, 71997082, 71997064, 71990679, & 71991903.

23. 2017-02-22
    status Under Agreement 172-char remark

    Show marketing remark (172 chars)

    8 - Family can be purchased as a package deal of 6 properties total for the purchase price of $1,207,405. See MLS#s 71997046, 71997082, 71997064, 71990679, & 71991903.

24. 2016-04-29
    listed $239,000 New 172-char remark

    Show marketing remark (172 chars)

    8 - Family can be purchased as a package deal of 6 properties total for the purchase price of $1,207,405. See MLS#s 71997046, 71997082, 71997064, 71990679, & 71991903.

25. 2013-05-16
    soldstatus $105,000 Sold 68-char remark

    Show marketing remark (68 chars)

    Great investment opportunity! 8 family, 32 rooms, 9 total bedrooms.

26. 2013-03-16
    historical Under Agreement 68-char remark

    Show marketing remark (68 chars)

    Great investment opportunity! 8 family, 32 rooms, 9 total bedrooms.

27. 2013-03-13
    listed $189,900 New 68-char remark

    Show marketing remark (68 chars)

    Great investment opportunity! 8 family, 32 rooms, 9 total bedrooms.

28. 1991-07-25
    soldstatus $148,000
29. 1988-02-19
    soldstatus $100,000

ⓘ 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: $5,872 · $489/mo
• Projected year-2 tax: $11,054 · $921/mo
• Expected delta: +$5,182/yr (+$432/mo · 88.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $162,708
• − Mortgage interest: −$73,941
• − Property taxes: −$5,872
• − Insurance: −$6,600
• − Repairs & maintenance: −$13,017
• − Management: −$13,017
• − Depreciation: −$38,400
• Taxable income: $11,862
• Est. tax owed @ 24.0%: −$2,847
• After-tax cash flow: $30,154/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: Southbridge
• NCES district ID: 2511010
• Math proficiency: 5% ▼ -5.00%
• Reading proficiency: 17% ▼ -1.00%
• Median HH income: $45,438
• Composite: 9.97/100
• National rank: #9814
• State rank: #301 of 302 in MA

Livability — Southbridge Town

• Score: 56/100
• State rank: #235
• US rank: #22429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southbridge Town, MA
• County: Worcester County · 487,911 people
• City population: 17,806
• Metro: Worcester, MA-CT
• Population (ZIP): 17,928
• Household income: $66,287
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 1217.0

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: Majority White (54%)
• Race & ethnicity: White 54% Hispanic / Latino 40% Two or more races 21% Black 3%
• Hispanic origin (detail): Puerto Rican 35% Dominican 2%
• Common ancestry: Lithuanian 13% Romanian 4% German 1%
• Foreign-born: 4% · Canada
• Languages at home: 65% English-only · Spanish 31% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -23.80%
• Current HPI: 280.5379
• Rent YoY: —
• Metro: Worcester, MA-CT
• 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

+1220.0% since first listed

14 events — show timeline

• 2026-05-26 Listed $1,320,000 MLS PIN
• 2024-11-14 Rental Removed $1,600 BUILDIUM
• 2024-10-23 Listed for Rent $1,600 BUILDIUM
• 2024-10-23 Rental Removed $1,525 BUILDIUM
• 2024-10-22 Listed for Rent $1,525 BUILDIUM
• 2017-03-10 Sold (Public Records) $190,000 Public Records
• 2017-03-10 Sold (MLS) $190,000 MLS PIN
• 2017-02-22 Pending — MLS PIN
• 2016-04-29 Listed $239,000 MLS PIN
• 2013-05-16 Sold (MLS) $105,000 MLS PIN
• 2013-03-16 Contingent — MLS PIN
• 2013-03-13 Listed $189,900 MLS PIN
• 1991-07-25 Sold (Public Records) $148,000 Public Records
• 1988-02-19 Sold (Public Records) $100,000 Public Records

Property tax history

+3.5%/yr

Latest (2023): $5,872 · +8.3% YoY. Source: county tax records.