1104 Main St · Warren, MA 01083

$349,989

3 bd · 2.0 ba · 2,243 sqft · MultiFamily public records · 68 Days on market

Built 1860 0.46 ac lot $156/sqft · 13% above area Est $309k · 13% 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 +21.0/30.0
• DSCR +6.7/10.0
• 1% rule +5.0/10.0
• Schools +3.6/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• 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

Take a look at this LARGE 2 family in charming Warren! Walk into a convenient mud room in unit 1 into an ample dining room, large eat in kitchen, bright open living room, 2 first floor bedrooms, laundry hook up, and an oversized bathroom. Upstairs boasts a third bedroom. Unit 2 features a large living room, kitchen, 1 bathroom and 2 bedrooms. Roof and electrical approximately 10yo APO, separately metered utilities. Off street parking, quaint private back yard, close to local schools, shopping and commuting routes. Excellent rental history with long term tenants in place. Turnkey investment opportunity!

Key facts

• Open living room
• Eat in kitchen
• Dining room

Tags

• MUD ROOM
• DINING ROOM
• EAT IN KITCHEN
• OPEN LIVING ROOM
• OVERSIZED BATHROOM
• SEPARATELY METERED UTILITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $348k (0.4% below list).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.6% in Warren — 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 54/100 on livability (#243 in MA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A, health & safety B+; Watch: amenities F, commute F, employment F.
• Quaboag Regional (rural): math 31% / reading 51% proficiency, ranked #196 of 302 in MA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quaboag Regional Middle Innovation School (math 27% / reading 52%, grade F, #148 of 305 statewide, top 49%, 203 students, 0% FRL); Quaboag Regional High (math 52% / reading 77%, grade B-, #110 of 343 statewide, top 34%, 354 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 28 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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 $10k; list at $350k implies a 3400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — 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 $328,989 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 1.00% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (median comp): $309,454
• List price: $349,989
• Delta: 13.10%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Quaboag St	0.26mi	4/2.0 (+1)	2,494 (+11%)	3mo	$359,000	$144	62
57 East Rd	0.57mi	4/2.5 (+1)	2,222 (-1%)	7mo	$260,000	$117	59

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-25,157
• Equity at exit: $52,184

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $18,597
• Equity at exit: $30,261

Cash invested: $97,997 (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 01083

• Home prices YoY: -7.2%
• Active inventory: 28
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $3,485 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$276 /mo · $3,309/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $496

Break-even live

Break-even rent $2,857

Max offer price $349,989

Occupancy floor 81%

Sensitivity live

Price	-10% $694	-5% $595	+0% $496	+5% $397	+10% $298
Rent	-10% $221	-5% $359	+0% $496	+5% $634	+10% $772
Rate	-1.0pp $672	-0.5pp $585	base $496	+0.5pp $405	+1.0pp $313

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,486
Total (2 units)			$3,485

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: $87,497
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-22
   days on market $349,989 Active 68 DOM
2. 2026-06-18
   days on market $349,989 Active 65 DOM
3. 2026-06-17
   days on market $349,989 Active 64 DOM
4. 2026-06-16
   days on market $349,989 Active 63 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   days on market $349,989 Active 62 DOM
7. 2026-06-14
   days on market $349,989 Active 60 DOM
8. 2026-06-13
   days on market $349,989 Active 59 DOM
9. 2026-06-10
   days on market $349,989 Active 57 DOM
10. 2026-06-09
    days on market $349,989 Active 56 DOM
11. 2026-06-08
    days on market $349,989 Active 55 DOM
12. 2026-06-07
    days on market $349,989 Active 54 DOM
13. 2026-06-03
    days on market $349,989 Active 50 DOM
14. 2026-06-02
    days on market $349,989 Active 49 DOM
15. 2026-06-01
    days on market $349,989 Active 48 DOM
16. 2026-05-31
    days on market $349,989 Active 47 DOM
17. 2026-05-30
    days on market $349,989 Active 46 DOM
18. 2026-04-14
    listed $349,989 New 610-char remark

    Show marketing remark (610 chars)

    Take a look at this LARGE 2 family in charming Warren! Walk into a convenient mud room in unit 1 into an ample dining room, large eat in kitchen, bright open living room, 2 first floor bedrooms, laundry hook up, and an oversized bathroom. Upstairs boasts a third bedroom. Unit 2 features a large living room, kitchen, 1 bathroom and 2 bedrooms. Roof and electrical approximately 10yo APO, separately metered utilities. Off street parking, quaint private back yard, close to local schools, shopping and commuting routes. Excellent rental history with long term tenants in place. Turnkey investment opportunity!

19. 2016-12-23
    soldstatus $10,000 Sold 594-char remark

    Show marketing remark (594 chars)

    INVESTORS TAKE NOTICE. Bring this property back to life! Convenient location. Close to town center, park, high school and MA pike. House needs extensive work. Cash or rehab only. Property sold "as is" without any repairs. Buyer/buyer's representative are responsible for verifying all information and use. Dry inspections only. Buyer responsible for smoke and CO certificate. Seller/seller's representative have no additional information on the condition of the property or its components. Public records has it as a multi-family dwelling, but its currently set up as a single family.

20. 2016-09-08
    price $25,000 594-char remark

    Show marketing remark (594 chars)

    INVESTORS TAKE NOTICE. Bring this property back to life! Convenient location. Close to town center, park, high school and MA pike. House needs extensive work. Cash or rehab only. Property sold "as is" without any repairs. Buyer/buyer's representative are responsible for verifying all information and use. Dry inspections only. Buyer responsible for smoke and CO certificate. Seller/seller's representative have no additional information on the condition of the property or its components. Public records has it as a multi-family dwelling, but its currently set up as a single family.

21. 2016-07-21
    listed $30,000 New 594-char remark

    Show marketing remark (594 chars)

    INVESTORS TAKE NOTICE. Bring this property back to life! Convenient location. Close to town center, park, high school and MA pike. House needs extensive work. Cash or rehab only. Property sold "as is" without any repairs. Buyer/buyer's representative are responsible for verifying all information and use. Dry inspections only. Buyer responsible for smoke and CO certificate. Seller/seller's representative have no additional information on the condition of the property or its components. Public records has it as a multi-family dwelling, but its currently set up as a single family.

22. 2004-07-20
    soldstatus $135,000
23. 2004-07-20
    soldstatus $135,000
24. 2002-06-12
    soldstatus $47,900
25. 2002-06-01
    historical
26. 2002-03-09
    listed $47,900
27. 1997-01-23
    soldstatus $46,000
28. 1997-01-21
    soldstatus $46,000
29. 1997-01-17
    historical
30. 1996-11-14
    listed $54,900

ⓘ 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: $3,309 · $276/mo
• Projected year-2 tax: $3,807 · $317/mo
• Expected delta: +$498/yr (+$41/mo · 15.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,820
• − Mortgage interest: −$19,605
• − Property taxes: −$3,309
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,346
• − Management: −$3,346
• − Depreciation: −$10,181
• Taxable income: $284
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $5,886/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: Quaboag Regional
• NCES district ID: 2512100
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $56,059
• Composite: 35.83/100
• National rank: #4825
• State rank: #196 of 302 in MA

Livability — Warren

• Score: 54/100
• State rank: #243
• US rank: #24180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MA
• City population: 2,746
• Population (ZIP): 2,746

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: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Asian 5% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 27% Lithuanian 23% Serbian 3%
• Foreign-born: 4%
• Languages at home: 88% English-only · Spanish 6% Other Asian/Pacific 6%

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: ▼ -21.73%
• Current HPI: 280.5118
• Rent YoY: —
• Metro: —
• 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

+537.5% since first listed

13 events — show timeline

• 2026-04-14 Listed $349,989 MLS PIN
• 2016-12-23 Sold (MLS) $10,000 MLS PIN
• 2016-09-08 Price Changed $25,000 MLS PIN
• 2016-07-21 Listed $30,000 MLS PIN
• 2004-07-20 Sold (Public Records) $135,000 Public Records
• 2004-07-20 Sold (Public Records) $135,000 Public Records
• 2002-06-12 Sold (MLS) $47,900 MLS PIN
• 2002-06-01 Listing Removed — MLS PIN
• 2002-03-09 Listed $47,900 MLS PIN
• 1997-01-23 Sold (MLS) $46,000 MLS PIN
• 1997-01-21 Sold (Public Records) $46,000 Public Records
• 1997-01-17 Listing Removed — MLS PIN
• 1996-11-14 Listed $54,900 MLS PIN

Property tax history

+3.2%/yr

Latest (2023): $3,309 · +13.6% YoY. Source: county tax records.