474 Tyler St · Pittsfield, MA 01201

$315,000

6 bd · 4.0 ba · 3,276 sqft · MultiFamily public records · 7 Days on market

Built 1850 3,485 sqft lot Est $324k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +8.8/15.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 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

Tyler Street Multifamily. 3 Family home walking distance to churches and restaurants. This property offers 2 one bedroom flats and 1 three bedroom apt (up and downstairs). Off street parking and on bus line. Great opportunity for an owner-occupied and/or investor.

Key facts

• Separate utilities
• Multi-family home
• Off-street parking

Tags

• MULTI-FAMILY HOME
• HIGH RENTAL DEMAND AREA
• SEPARATE UTILITIES
• OFF-STREET PARKING
• STRONG RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 1×3bd/2ba units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $514/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Cap rate 12.2% vs local median 3.6% in Pittsfield — 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 75/100 on livability (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, crime D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morningside Community School (math 8% / reading 22%, grade F, #854 of 938 statewide, top 93%, 355 students, 0% FRL); John T Reid Middle (math 7% / reading 17%, grade F, #283 of 305 statewide, top 93%, 450 students, 0% FRL); Taconic High (math 27% / reading 37%, grade F, #255 of 343 statewide, top 77%, 860 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.7%/yr); 275 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $4,499/mo this rent would consume 76% of the median local household income ($71k/yr) (locally 1580% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Berkshire County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $88k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $155k; list at $315k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $315,000

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 1850 — 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 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?
6. 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?
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: 1.43% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.97%
• DSCR: 1.93
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $324,324
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
474 Tyler St	0.00mi	5/4.0 (-1)	3,276 (0%)	1mo	$345,000	$105	94
10 Cherry St	0.28mi	6/4.0	3,320 (+1%)	2mo	$295,000	$89	83
76-78 Stoddard Ave	0.19mi	7/3.0 (+1)	3,120 (-5%)	4mo	$275,000	$88	71
91 Dalton Ave	0.56mi	6/3.0	3,276 (0%)	3mo	$375,000	$114	68
30 Lenox Ave	0.57mi	7/3.0 (+1)	3,360 (+3%)	1mo	$125,000	$37	60
21 Pleasant St	0.36mi	7/4.0 (+1)	2,951 (-10%)	10mo	$375,000	$127	54
1 Rostone Pl	0.60mi	7/3.0 (+1)	3,180 (-3%)	6mo	$380,000	$119	53
10-12 Stoddard Ave	0.38mi	6/2.5	2,840 (-13%)	6mo	$152,000	$54	49
303 Springside Ave	0.42mi	5/4.5 (-1)	2,912 (-11%)	11mo	$365,000	$125	46
62-64 Dalton Ave	0.49mi	6/6.0	3,627 (+11%)	10mo	$260,000	$72	43
25-27 Root Pl	0.75mi	6/2.0	2,946 (-10%)	11mo	$135,000	$46	32
119 Lenox Ave Unit 1 & 2	0.71mi	5/2.0 (-1)	2,940 (-10%)	7mo	$292,000	$99	31

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 · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 1.79×
• Total profit: $69,463
• Equity at exit: $46,968

10-year hold

• IRR: 29.8%
• Equity multiple: 4.27×
• Total profit: $288,020
• Equity at exit: $27,235

Cash invested: $88,200 (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 01201

• Rents YoY: 7.7%
• Active inventory: 275
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $4,499 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$230 /mo · $2,759/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $1,541

Break-even live

Break-even rent $2,548

Max offer price $315,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,662
1× unit	3	2	$1,838
Total (3 units)			$4,499

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-13
   status Pending
2. 2026-03-27
   listed $315,000 Active
3. 2022-03-04
   soldstatus $154,900 270-char remark

   Show marketing remark (270 chars)

   Tyler Street Multifamily. 3 Family home walking distance to churches and restaurants. This property offers 2 one bedroom flats and 1 three bedroom apt (up and downstairs). Off street parking and on bus line. Great opportunity for an owner-occupied and/or investor.

4. 2021-10-20
   listed $149,900 270-char remark

   Show marketing remark (270 chars)

   Tyler Street Multifamily. 3 Family home walking distance to churches and restaurants. This property offers 2 one bedroom flats and 1 three bedroom apt (up and downstairs). Off street parking and on bus line. Great opportunity for an owner-occupied and/or investor.

ⓘ 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: $2,759 · $230/mo
• Projected year-2 tax: $3,317 · $276/mo
• Expected delta: +$558/yr (+$46/mo · 20.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $53,988
• − Mortgage interest: −$17,645
• − Property taxes: −$2,759
• − Insurance: −$1,575
• − Repairs & maintenance: −$4,319
• − Management: −$4,319
• − Depreciation: −$9,164
• Taxable income: $14,207
• Est. tax owed @ 24.0%: −$3,410
• After-tax cash flow: $15,084/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

Population outlook (Berkshire County) Hauer SSP2

• Today (2025): 119,723 people
• By 2030: 114,608 · -4.3%
• By 2040: 102,806 · -14.1%
• By 2050: 91,305 · -23.7%
• By 2075: 71,517 · -40.3%
• By 2100: 57,988 · -51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Berkshire

• 2024 margin: Solid D (+39.9) · D 68.9% · R 29.0% · Other 2.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 52.4pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+47.1 2016: D+41.5 2012: D+53.7 2008: D+52.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, MA
• 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

+110.1% since first listed

4 events — show timeline

• 2026-04-13 Pending — BCMLS
• 2026-03-27 Listed $315,000 BCMLS
• 2022-03-04 Sold (MLS) $154,900 BCMLS
• 2021-10-20 Listed $149,900 BCMLS

Property tax history

+3.0%/yr

Latest (2023): $2,759 · +24.3% YoY. Source: county tax records.