127 Austin St · Worcester, MA 01609

$699,000

9 bd · 3.0 ba · 3,315 sqft · MultiFamily public records · 13 Days on market

Built 1890 4,062 sqft lot Est $729k · at est.

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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 +20.4/30.0
• ARV discount +9.4/15.0
• DSCR +6.5/10.0
• 1% rule +4.7/10.0
• Livability +4.4/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Come view this clean multifamily with delead certificates before its gone! Each unit has all good sized rooms - first and second floor have three bedrooms each, while the third floor has four bedrooms. Updated kitchen and bathrooms. Recently updated plumbing, heating, and replacement windows! Off street parking for 6 or more cars. Hallways are large and are in great shape. This well maintained property is located closely to WPI and Worcester State University. This can be a turn key investment property or owner occupied opportunity. OPEN HOUSE Saturday AND Sunday August 24th & 25th 11 AM -1 PM.

Key facts

• Lead certified
• New side back decks
• New roof

Tags

• FULLY RENTED TRIPLE DECKER
• LEAD CERTIFIED
• NEW ROOF
• NEW SIDE BACK DECKS
• CASH-FLOWING PROPERTY

Property features AI

Finance

• Other: Washer and dryer in Unit #2 belong to the tenant; Building total area approximately 3,315
• Financial info: Tax information not included per instructions
• HOA & community: Community features: public transportation, shopping, university nearby; Not a senior community

Exterior

• Parking: Open parking available; 6 open parking spaces; Paved drive and off-street parking
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: 3-family property; 3 stories; 3 levels
• Construction: Frame construction; Brick/mortar foundation; Shingle roof; Built (year per public records)
• Exterior features: Vinyl deck; Paved road frontage (public)

Interior

• Kitchen: Range; Refrigerator; Dishwasher; ENERGY STAR qualified refrigerator; ENERGY STAR qualified dishwasher; ENERGY STAR qualified range (if applicable)
• Flooring: Tile flooring; Hardwood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Has heating
• Interior features: Living room; Kitchen; Laundry room; Total of 18 rooms
• Laundry & utility: Washer & dryer hookup; ENERGY STAR qualified washer; ENERGY STAR qualified dryer

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $678k (3.0% below list).
• Recommended offer: $678k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.1% in Worcester — 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 87/100 on livability (#9 in MA, #312 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: schools C-, cost of living D.
• Worcester (urban): math 17% / reading 30% proficiency, ranked #280 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 44 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $6,779/mo this rent would consume 119% of the median local household income ($68k/yr) (locally 1183% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 22y 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 $380k; list at $699k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $677,900 (3.0% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $729,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 King St	0.36mi	10/3.0 (+1)	3,158 (-5%)	3mo	$685,000	$217	68
13 West St	0.27mi	9/4.0	3,636 (+10%)	1mo	$720,000	$198	67
10 Sycamore St	0.37mi	8/3.0 (-1)	3,490 (+5%)	9mo	$840,000	$241	62
37 Benefit St	0.51mi	9/3.0	3,611 (+9%)	0mo	$665,000	$184	61
47 Piedmont St	0.18mi	8/3.0 (-1)	2,912 (-12%)	7mo	$640,000	$220	60
345 Park Ave	0.49mi	10/6.0 (+1)	3,296 (-1%)	1mo	$1,155,000	$350	58
3 Crown St	0.22mi	8/4.0 (-1)	3,487 (+5%)	20mo	$600,000	$172	55
78 Elm St	0.30mi	8/5.0 (-1)	3,475 (+5%)	12mo	$890,000	$256	55
132 Dewey St	0.57mi	9/3.0	3,564 (+8%)	10mo	$810,000	$227	52
137 Pleasant St	0.31mi	8/4.0 (-1)	3,615 (+9%)	16mo	$725,000	$201	49
5 Dayton Pl	0.49mi	8/3.0 (-1)	3,100 (-6%)	20mo	$625,000	$202	45
15 Wachusett St	0.70mi	8/3.0 (-1)	3,103 (-6%)	18mo	$730,000	$235	36

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-52,956
• Equity at exit: $104,223

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $38,586
• Equity at exit: $60,437

Cash invested: $195,720 (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 01609

• Home prices YoY: -15.9%
• Rents YoY: 3.4%
• Active inventory: 44
• Price-to-rent: 26.2×

Monthly cashflow live

• Estimated rent: $6,779 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$490 /mo · $5,884/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,424
• Net cashflow: $908

Break-even live

Break-even rent $5,629

Max offer price $699,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,304	-5% $1,106	+0% $908	+5% $710	+10% $513
Rent	-10% $373	-5% $640	+0% $908	+5% $1,176	+10% $1,444
Rate	-1.0pp $1,260	-0.5pp $1,086	base $908	+0.5pp $727	+1.0pp $543

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,440
1× unit	4	1	$2,339
Total (3 units)			$6,779

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $699,000 Active 13 DOM
2. 2026-06-17
   days on market $699,000 Active 12 DOM
3. 2026-06-16
   days on market $699,000 Active 11 DOM
4. 2026-06-15
   days on market $699,000 Active 10 DOM
5. 2026-06-14
   days on market $699,000 Active 8 DOM
6. 2026-06-10
   days on market $699,000 Active 5 DOM
7. 2026-06-09
   statusdays on market $699,000 Active 4 DOM
8. 2026-06-08
   days on market $699,000 New 3 DOM
9. 2026-06-07
   remarks 693-char remark
10. 2026-06-07
    listed $699,000 New 2 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: $5,884 · $490/mo
• Projected year-2 tax: $7,241 · $603/mo
• Expected delta: +$1,357/yr (+$113/mo · 23.1%)

ⓘ 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 ≥93°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,348
• − Mortgage interest: −$39,155
• − Property taxes: −$5,884
• − Insurance: −$3,495
• − Repairs & maintenance: −$6,508
• − Management: −$6,508
• − Depreciation: −$20,335
• Taxable loss: −$536
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $11,027/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: Worcester
• NCES district ID: 2513230
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $45,063
• Composite: 20.3/100
• National rank: #8615
• State rank: #280 of 302 in MA

Livability — Worcester

• Score: 87/100
• State rank: #9
• US rank: #312

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worcester, MA
• County: Worcester County · 487,911 people
• City population: 207,324
• Metro: Worcester, MA-CT
• Population (ZIP): 22,047
• Household income: $68,381
• Rent vs Own: 59.9% rent · 40.1% own
• Severe rent burden: 1183.0

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 61% Hispanic / Latino 18% Two or more races 11% Asian 10% Black 7%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 7% Romanian 4% Estonian 1%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 66% English-only · Spanish 15% Other Indo-European 8% Vietnamese 3%

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: ▼ -51.84%
• Current HPI: 274.8097
• Rent YoY: ▲ 3.38%
• 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

+133.4% since first listed

14 events — show timeline

• 2026-06-05 Listed $699,000 MLS PIN
• 2019-09-30 Sold (MLS) $380,000 MLS PIN
• 2019-09-10 Pending — MLS PIN
• 2019-08-27 Contingent — MLS PIN
• 2019-08-16 Listed $375,999 MLS PIN
• 2009-05-13 Listing Removed — MLS PIN
• 2009-05-13 Sold (MLS) $75,000 MLS PIN
• 2009-03-06 Contingent — MLS PIN
• 2009-02-25 Listed $85,000 MLS PIN
• 2007-09-26 Sold (Public Records) $214,327 Public Records
• 2004-04-16 Sold (MLS) $303,000 MLS PIN
• 2004-04-15 Sold (Public Records) $303,000 Public Records
• 2004-03-03 Listing Removed — MLS PIN
• 2004-01-07 Listed $299,500 MLS PIN

Property tax history

+3.8%/yr

Latest (2023): $5,884 · +14.8% YoY. Source: county tax records.