19 Francis St · Fitchburg, MA 01420

$489,000

8 bd · 3.0 ba · 3,528 sqft · MultiFamily public records · 45 Days on market

Built 1900 5,001 sqft lot $139/sqft · 8% below area Est $579k · 16% under

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Why this score? — see what drove the B 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 +28.3/30.0
• ARV discount +14.5/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 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 MLS

Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

Key facts

• High ceilings
• 5,001 sq ft lot
• 7 parking spots

Tags

• HIGH CEILINGS
• AMPLE OFF-STREET PARKING
• QUIET LOW-TRAFFIC STREET
• NEAR MBTA COMMUTER RAIL

Property features AI

Finance

• HOA & community: Community offers access to public transportation, shopping, parks, walk/jog trails, golf, conservation areas, highway access, houses of worship, public schools, commuter rail station, and nearby university; Not a senior community

Exterior

• Parking: 7 parking spaces; Paved driveway; Off-street parking; Deeded parking
• Utilities: Public water; Public sewer; Electric service varies by unit
• Home design: 3-family property; 3 stories; Yellow exterior
• Construction: Frame construction; Shingle roof; Concrete perimeter foundation; Built (year per public records)
• Exterior features: Porch (enclosed); Patio; Level lot; Public road frontage

Interior

• Flooring: Wood floors; Tile floors; Vinyl floors
• Bathrooms: 3 full bathrooms
• Interior features: Living room; Dining room; Kitchen; Family room; Mudroom; Total of 17 rooms

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1-bath units multifamily listed at $489k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $523/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $489k).
• Recommended offer: $474k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.1% in Fitchburg — 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 (#137 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, health & safety B+; Watch: employment D+, crime D, amenities F.
• Fitchburg (suburban): math 15% / reading 30% proficiency, ranked #282 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South Street Early Learning Center (math 6% / reading 19%, grade F, #891 of 938 statewide, top 95%, 564 students, 0% FRL); Memorial Middle School (math 19% / reading 37%, grade F, #216 of 305 statewide, top 71%, 581 students, 0% FRL); Fitchburg High (math 25% / reading 42%, grade F, #251 of 343 statewide, top 73%, 1,246 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.1%/yr); 89 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $5,994/mo this rent would consume 99% of the median local household income ($73k/yr) (locally 1763% 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $137k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y 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 $150k; list at $489k implies a 226% 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 $474,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.23% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.74%
• DSCR: 1.61
• GRM: 6.8

CMA / ARV

• ARV (median comp): $579,098
• List price: $489,000
• Delta: -15.56%
• 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
475 Water St	0.45mi	9/3.0 (+1)	3,507 (-1%)	5mo	$644,000	$184	69
133-137 Payson St	0.11mi	9/3.0 (+1)	3,921 (+11%)	7mo	$675,000	$172	65
107 Summer St	0.58mi	8/3.0	3,490 (-1%)	8mo	$650,000	$186	64
74-76 Rainville	0.17mi	7/3.0 (-1)	3,212 (-9%)	10mo	$680,000	$212	63
52-54 Myrtle Ave	0.59mi	9/3.0 (+1)	3,394 (-4%)	1mo	$650,000	$192	60
154 Pleasant St	0.75mi	8/3.5	3,449 (-2%)	1mo	$485,000	$141	59
87 Summer St	0.56mi	8/2.0	3,421 (-3%)	8mo	$502,000	$147	58
219 Charles	0.39mi	8/3.0	3,169 (-10%)	11mo	$550,000	$174	56
46 Myrtle Ave	0.58mi	9/3.0 (+1)	3,948 (+12%)	1mo	$700,000	$177	47
70 Highland Ave	0.64mi	9/3.0 (+1)	3,283 (-7%)	11mo	$650,000	$198	45
115 Highland Ave	0.73mi	7/4.0 (-1)	3,436 (-3%)	12mo	$680,000	$198	43
158 Green St	0.65mi	9/3.0 (+1)	3,063 (-13%)	6mo	$675,000	$220	38

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 · 3.06% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.15×
• Total profit: $20,938
• Equity at exit: $72,911

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $148,137
• Equity at exit: $42,280

Cash invested: $136,920 (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 01420

• Home prices YoY: -25.2%
• Rents YoY: 3.1%
• Active inventory: 89
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $5,994 high
• Mortgage (P&I): −$2,564
• Tax from tax record: −$399 /mo · $4,792/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,259
• Net cashflow: $1,568

Break-even live

Break-even rent $4,009

Max offer price $489,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,845	-5% $1,706	+0% $1,568	+5% $1,429	+10% $1,291
Rent	-10% $1,094	-5% $1,331	+0% $1,568	+5% $1,805	+10% $2,041
Rate	-1.0pp $1,814	-0.5pp $1,692	base $1,568	+0.5pp $1,441	+1.0pp $1,312

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,994
Total (3 units)			$5,994

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   statusdays on market $489,000 Contingent 45 DOM
2. 2026-06-18
   days on market $489,000 Active 42 DOM
3. 2026-06-17
   days on market $489,000 Active 41 DOM
4. 2026-06-16
   days on market $489,000 Active 40 DOM
5. 2026-06-15
   days on market $489,000 Active 39 DOM
6. 2026-06-14
   days on market $489,000 Active 37 DOM
7. 2026-06-10
   days on market $489,000 Active 34 DOM
8. 2026-06-09
   days on market $489,000 Active 33 DOM
9. 2026-06-08
   days on market $489,000 Active 32 DOM
10. 2026-06-07
    days on market $489,000 Active 31 DOM
11. 2026-06-03
    days on market $489,000 Active 27 DOM
12. 2026-06-02
    days on market $489,000 Active 26 DOM
13. 2026-06-01
    days on market $489,000 Active 25 DOM
14. 2026-05-31
    days on market $489,000 Active 24 DOM
15. 2026-05-31
    days on market $489,000 Active 23 DOM
16. 2026-05-07
    listed $489,000 New 1011-char remark
17. 2014-01-24
    soldstatus $150,000 Sold 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

18. 2013-11-14
    status Contingent 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

19. 2013-11-08
    historical 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

20. 2013-10-16
    historical Contingent 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

21. 2013-09-20
    price $154,900 Price Changed 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

22. 2013-07-21
    price $163,900 Price Changed 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

23. 2013-07-09
    price $164,900 Price Changed 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

24. 2013-06-04
    price $169,900 Price Changed 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

25. 2013-05-23
    price $174,900 Price Changed 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

26. 2013-05-08
    listed $179,900 New 384-char remark

    Show marketing remark (384 chars)

    Spacious, convenient, & well maintained 3 family! Nice neighborhood! Numbers work for the investor. Owner occupied, let the rents help pay the mortgage! Separate utilities. All three apartments in very nice condition. Recent updates. Enclosed front porches. Plenty of off street parking. Come take a look...you will not be disappointed! Seller will help with closing costs.

27. 2012-09-26
    soldstatus $119,000 Sold

    Show marketing remark (264 chars)

    Great property for owner-occupied or investors! 1st and 2nd floor units each have 3 bedrooms, 3rd floor is 2 bedrooms. Separate heating systems and electric for each unit. Replacement windows on the 1st and 2nd floors. 2nd floor unit has a de-lead certificate.

28. 2012-09-04
    historical Under Agreement

    Show marketing remark (264 chars)

    Great property for owner-occupied or investors! 1st and 2nd floor units each have 3 bedrooms, 3rd floor is 2 bedrooms. Separate heating systems and electric for each unit. Replacement windows on the 1st and 2nd floors. 2nd floor unit has a de-lead certificate.

29. 2012-08-15
    listed $145,000 New

    Show marketing remark (264 chars)

    Great property for owner-occupied or investors! 1st and 2nd floor units each have 3 bedrooms, 3rd floor is 2 bedrooms. Separate heating systems and electric for each unit. Replacement windows on the 1st and 2nd floors. 2nd floor unit has a de-lead certificate.

30. 1998-08-28
    soldstatus $108,000
31. 1998-08-27
    soldstatus $108,000
32. 1998-08-18
    historical
33. 1998-04-07
    listed $112,900
34. 1986-01-08
    soldstatus $93,000

ⓘ 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: $4,792 · $399/mo
• Projected year-2 tax: $5,403 · $450/mo
• Expected delta: +$611/yr (+$51/mo · 12.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,928
• − Mortgage interest: −$27,392
• − Property taxes: −$4,792
• − Insurance: −$2,445
• − Repairs & maintenance: −$5,754
• − Management: −$5,754
• − Depreciation: −$14,225
• Taxable income: $11,565
• Est. tax owed @ 24.0%: −$2,776
• After-tax cash flow: $16,038/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: Fitchburg
• NCES district ID: 2504890
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $48,430
• Composite: 19.78/100
• National rank: #8705
• State rank: #282 of 302 in MA

Livability — Fitchburg

• Score: 69/100
• State rank: #137
• US rank: #8435

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fitchburg, MA
• County: Worcester County · 487,911 people
• City population: 41,839
• Metro: Worcester, MA-CT
• Population (ZIP): 41,839
• Household income: $72,780
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1763.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 19% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 2%
• Common ancestry: Lithuanian 8% Romanian 3% Slovak 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 22% French/Haitian/Cajun 3% Other Indo-European 2%

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: ▼ -102.11%
• Current HPI: 303.1067
• Rent YoY: ▲ 3.06%
• 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

+425.8% since first listed

19 events — show timeline

• 2026-05-07 Listed $489,000 MLS PIN
• 2014-01-24 Sold (MLS) $150,000 MLS PIN
• 2013-11-14 Relisted — MLS PIN
• 2013-11-08 Listing Removed — MLS PIN
• 2013-10-16 Contingent — MLS PIN
• 2013-09-20 Price Changed $154,900 MLS PIN
• 2013-07-21 Price Changed $163,900 MLS PIN
• 2013-07-09 Price Changed $164,900 MLS PIN
• 2013-06-04 Price Changed $169,900 MLS PIN
• 2013-05-23 Price Changed $174,900 MLS PIN
• 2013-05-08 Listed $179,900 MLS PIN
• 2012-09-26 Sold (MLS) $119,000 MLS PIN
• 2012-09-04 Contingent — MLS PIN
• 2012-08-15 Listed $145,000 MLS PIN
• 1998-08-28 Sold (Public Records) $108,000 Public Records
• 1998-08-27 Sold (MLS) $108,000 MLS PIN
• 1998-08-18 Listing Removed — MLS PIN
• 1998-04-07 Listed $112,900 MLS PIN
• 1986-01-08 Sold (Public Records) $93,000 Public Records

Property tax history

+3.6%/yr

Latest (2022): $4,792 · +7.0% YoY. Source: county tax records.