119 Woodland St · Fitchburg, MA 01420

$634,900

10 bd · 3.0 ba · 3,204 sqft · MultiFamily public records · 58 Days on market

Built 1900 3,454 sqft lot $198/sqft · 14% above area Est $558k · 14% over

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Why this score? — see what drove the D 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 +19.5/30.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +1.3/15.0
• 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

This multi-family residence presents a captivating opportunity. Its enduring architecture, originating in 1900, offers a distinctive presence within its surroundings. Within its expansive 3198 square feet of living area, this structure accommodates ten distinct bedrooms, each offering personal retreats for occupants. Complementing these spaces are three full bathrooms, providing convenience and comfort throughout the dwelling. The three stories of this substantial dwelling contribute to the generous living environment. Occupying a lot of 3454 square feet, the property offers its own dedicated outdoor space. This distinguished multi-family residence invites exploration for those seeking a property of remarkable scale and enduring character.

Key facts

• 3,454 sq ft lot
• 6 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 10-bed/3.0-bath multifamily listed at $635k.

Deal economics

• At list price, monthly cash flow is $719 ($9k/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 $592k (6.7% below list).
• Recommended offer: $592k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.0% 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, schools D-.
• 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.
• Market conditions: Rents rising (+3.1%/yr); 79 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $5,922/mo this rent would consume 98% 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 $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $592,200 (6.7% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

• ARV (median comp): $557,940
• List price: $634,900
• Delta: 13.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66-68 Clarendon St	0.18mi	9/3.0 (-1)	3,024 (-6%)	0mo	$625,000	$207	77
228 Daniels St	0.02mi	9/3.0 (-1)	3,521 (+10%)	2mo	$650,000	$185	76
19 Chester St	0.12mi	10/4.0	3,510 (+10%)	10mo	$720,000	$205	66
115 Madison St	0.14mi	9/3.0 (-1)	2,922 (-9%)	11mo	$630,000	$216	65
90 Leighton St	0.64mi	9/3.5 (-1)	3,144 (-2%)	14mo	$640,000	$204	48

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-56,908
• Equity at exit: $94,666

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $10,171
• Equity at exit: $54,895

Cash invested: $177,772 (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: 79
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $5,922 high
• Mortgage (P&I): −$3,329
• Tax from tax record: −$365 /mo · $4,385/yr
• Insurance: −$265
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,244
• Net cashflow: $719

Break-even live

Break-even rent $5,012

Max offer price $634,900

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,922
Total (3 units)			$5,922

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: $158,725
• Closing costs: $19,047
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $634,900 Active 58 DOM
2. 2026-06-17
   days on market $634,900 Active 57 DOM
3. 2026-06-16
   days on market $634,900 Active 56 DOM
4. 2026-06-15
   days on market $634,900 Active 55 DOM
5. 2026-06-14
   days on market $634,900 Active 53 DOM
6. 2026-06-10
   days on market $634,900 Active 50 DOM
7. 2026-06-09
   days on market $634,900 Active 49 DOM
8. 2026-06-08
   days on market $634,900 Active 48 DOM
9. 2026-06-07
   days on market $634,900 Active 47 DOM
10. 2026-06-03
    days on market $634,900 Active 43 DOM
11. 2026-06-02
    days on market $634,900 Active 42 DOM
12. 2026-06-01
    days on market $634,900 Active 41 DOM
13. 2026-05-31
    days on market $634,900 Active 40 DOM
14. 2026-05-31
    days on market $634,900 Active 39 DOM
15. 2026-04-21
    listed $634,900 New 749-char remark

    Show marketing remark (749 chars)

    This multi-family residence presents a captivating opportunity. Its enduring architecture, originating in 1900, offers a distinctive presence within its surroundings. Within its expansive 3198 square feet of living area, this structure accommodates ten distinct bedrooms, each offering personal retreats for occupants. Complementing these spaces are three full bathrooms, providing convenience and comfort throughout the dwelling. The three stories of this substantial dwelling contribute to the generous living environment. Occupying a lot of 3454 square feet, the property offers its own dedicated outdoor space. This distinguished multi-family residence invites exploration for those seeking a property of remarkable scale and enduring character.

16. 2025-03-03
    soldstatus $625,000 Sold 608-char remark

    Show marketing remark (608 chars)

    This three family is in the process of being finished. Two units are already completed and the final unit is being finished. First floor is 4 bedrooms and will be left vacant upon completion for an owner occupied buyer. Second floor is 3 bedrooms and has been rented. Third floor is 3 bedrooms and is in the process of being rented. Each floor has a front balcony and the second and third floor has an enclosed back porch. All 3 units have their own separate washer and dryer hookups inside the units. The first floor has a full shower/tub, while the second and third floor only have shower stalls (no tubs).

17. 2025-01-01
    status Under Agreement 608-char remark

    Show marketing remark (608 chars)

    This three family is in the process of being finished. Two units are already completed and the final unit is being finished. First floor is 4 bedrooms and will be left vacant upon completion for an owner occupied buyer. Second floor is 3 bedrooms and has been rented. Third floor is 3 bedrooms and is in the process of being rented. Each floor has a front balcony and the second and third floor has an enclosed back porch. All 3 units have their own separate washer and dryer hookups inside the units. The first floor has a full shower/tub, while the second and third floor only have shower stalls (no tubs).

18. 2024-11-25
    listed $625,000 New 608-char remark

    Show marketing remark (608 chars)

    This three family is in the process of being finished. Two units are already completed and the final unit is being finished. First floor is 4 bedrooms and will be left vacant upon completion for an owner occupied buyer. Second floor is 3 bedrooms and has been rented. Third floor is 3 bedrooms and is in the process of being rented. Each floor has a front balcony and the second and third floor has an enclosed back porch. All 3 units have their own separate washer and dryer hookups inside the units. The first floor has a full shower/tub, while the second and third floor only have shower stalls (no tubs).

19. 2016-10-28
    soldstatus $142,500 Sold
20. 2016-09-03
    status Contingent
21. 2016-08-28
    listed $169,900 New
22. 2010-01-28
    soldstatus $60,000 Sold
23. 2009-12-28
    historical Under Agreement
24. 2009-12-15
    price $65,000 Price Changed
25. 2009-11-30
    listed $80,000 New
26. 2005-10-27
    soldstatus $283,000
27. 2005-10-27
    soldstatus $283,000
28. 2005-08-24
    historical
29. 2005-08-11
    listed $278,000
30. 2004-12-15
    soldstatus $254,750
31. 2004-12-15
    soldstatus $254,750
32. 2004-10-09
    historical
33. 2004-09-20
    listed $259,900
34. 1988-10-18
    soldstatus $44,000

ⓘ 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: $4,385 · $365/mo
• Projected year-2 tax: $6,097 · $508/mo
• Expected delta: +$1,712/yr (+$143/mo · 39.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $71,064
• − Mortgage interest: −$35,564
• − Property taxes: −$4,385
• − Insurance: −$3,174
• − Repairs & maintenance: −$5,685
• − Management: −$5,685
• − Depreciation: −$18,470
• Taxable loss: −$1,900
• Est. tax savings @ 24.0%: +$456
• After-tax cash flow: $9,083/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

+1343.0% since first listed

20 events — show timeline

• 2026-04-21 Listed $634,900 MLS PIN
• 2025-03-03 Sold (MLS) $625,000 MLS PIN
• 2025-01-01 Pending — MLS PIN
• 2024-11-25 Listed $625,000 MLS PIN
• 2016-10-28 Sold (MLS) $142,500 MLS PIN
• 2016-09-03 Pending — MLS PIN
• 2016-08-28 Listed $169,900 MLS PIN
• 2010-01-28 Sold (MLS) $60,000 MLS PIN
• 2009-12-28 Contingent — MLS PIN
• 2009-12-15 Price Changed $65,000 MLS PIN
• 2009-11-30 Listed $80,000 MLS PIN
• 2005-10-27 Sold (Public Records) $283,000 Public Records
• 2005-10-27 Sold (MLS) $283,000 MLS PIN
• 2005-08-24 Listing Removed — MLS PIN
• 2005-08-11 Listed $278,000 MLS PIN
• 2004-12-15 Sold (Public Records) $254,750 Public Records
• 2004-12-15 Sold (MLS) $254,750 MLS PIN
• 2004-10-09 Listing Removed — MLS PIN
• 2004-09-20 Listed $259,900 MLS PIN
• 1988-10-18 Sold (Public Records) $44,000 Public Records

Property tax history

+3.5%/yr

Latest (2022): $4,385 · +10.9% YoY. Source: county tax records.