29-A Chilmark St · Worcester, MA 01604

$300,000

2 bd · 1.5 ba · 1,036 sqft · MultiFamily public records · 78 Days on market

Built 1988 3,538 sqft lot $290/sqft · 11% below area Est $339k · 11% 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 +30.0/30.0
• ARV discount +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• 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

Located in the desired Shrewsbury St area with great commuter access and easy access to UMASS hospitals, medical school and restaurant row. Energy efficient heat pumps for heating and cooling. The main floor offers a living/dining room combination space with gleaming hardwood floors, a window cut out allows for an open flow to the kitchen. French doors lead to the oversized composite deck with privacy fence, a great space to enjoy the spring & summer afternoons. Two bedrooms and full bath located on the 2nd floor, also with heat pumps for heating and cooling. Upgrades include windows, heat pumps, new garage door and hot water heater. Perfect opportunity for owner occupant or investor looking to be in close proximity to area amenities.

Key facts

• Privacy fence
• Commuter access
• Hardwood floors

Tags

• COMMUTER ACCESS
• ENERGY EFFICIENT HEAT PUMPS
• LIVING DINING ROOM COMBINATION
• HARDWOOD FLOORS
• OVERSIZED COMPOSITE DECK
• PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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 (+2.2%/yr); 61 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $4,567/mo this rent would consume 75% of the median local household income ($74k/yr) (locally 2232% 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $84k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $300k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $282,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.61%
• DSCR: 2.05
• GRM: 5.5

CMA / ARV

• ARV (median comp): $338,774
• List price: $300,000
• Delta: -11.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.17% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.63×
• Total profit: $52,846
• Equity at exit: $44,731

10-year hold

• IRR: 23.8%
• Equity multiple: 2.98×
• Total profit: $166,258
• Equity at exit: $25,939

Cash invested: $84,000 (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 01604

• Home prices YoY: -26.9%
• Rents YoY: 2.2%
• Active inventory: 61
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $4,567 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$257 /mo · $3,087/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$959
• Net cashflow: $1,652

Break-even live

Break-even rent $2,475

Max offer price $300,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,568
Total (2 units)			$4,567

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 E Park Ter Apt 3 Worcester, MA	3.0	1.0	900	$1,950	$2.17	14d	1	0.13mi
10 Marshall St Unit 2 Worcester, MA	3.0	1.0	1300	$2,275	$1.75	23d	1	0.13mi
586 Franklin St Unit 1 Worcester, MA	2.0	1.0	1116	$1,965	$1.76	43d	1	0.30mi
12 E Shelby St Unit 2 Worcester, MA	3.0	1.0	1000	$2,300	$2.30	14d	1	0.31mi
28 Adams St #204 Worcester, MA	1.0	1.0	975	$2,150	$2.21	14d	1	0.34mi
181 Belmont St Unit 2 Worcester, MA	3.0	1.0	1200	$2,200	$1.83	43d	1	0.34mi
62 Elliot St Unit 2 Worcester, MA	2.0	1.0	1038	$2,000	$1.93	43d	1	0.35mi
107 Eastern Ave Unit 2 Worcester, MA	3.0	1.0	1350	$2,400	$1.78	43d	1	0.36mi
631 Franklin St Worcester, MA	2.0	1.0	750	$2,388	$3.18	14d	5	0.37mi
11 Shamrock St Apt 1 Worcester, MA	3.0	1.0	1100	$2,100	$1.91	43d	1	0.40mi
383 Shrewsbury St Worcester, MA	1.0–2.0	1.0–2.0	895	$2,895	$3.23	14d	3	0.41mi
27 Granby Rd Apt 2 Worcester, MA	3.0	1.0	1240	$2,300	$1.85	14d	1	0.42mi
80 Stanton St #32 Worcester, MA	2.0	1.0	819	$2,050	$2.50	43d	1	0.43mi
69 Catharine St Unit 3 Worcester, MA	3.0	1.0	950	$2,100	$2.21	43d	1	0.43mi
61 Rodney St Unit G Worcester, MA	2.0	1.0	850	$2,000	$2.35	14d	1	0.44mi
30 Elliot St Unit 3 Worcester, MA	3.0	1.0	1478	$2,000	$1.35	23d	1	0.45mi
27 Shelby St Apt 3 Worcester, MA	2.0	1.0	1000	$2,000	$2.00	43d	1	0.46mi
27 Shelby St Apt 1 Worcester, MA	3.0	1.0	1400	$2,500	$1.79	21d	1	0.46mi
270 Belmont St Unit 0 Worcester, MA	2.0	1.0	800	$2,500	$3.12	43d	1	0.47mi
90 Stanton St Unit 2nd Worcester, MA	3.0	1.0	1300	$2,200	$1.69	14d	1	0.48mi
91 Stanton St Unit 3 Worcester, MA	2.0	1.0	1067	$2,000	$1.87	14d	1	0.49mi
285 Plantation St Worcester, MA	2.0	1.0–1.5	987	$2,189	$2.22	14d	15	0.49mi
417 Shrewsbury St Worcester, MA	2.0	1.0	1041	$1,845	$1.77	43d	1	0.50mi
111 Rodney St Unit 1 Worcester, MA	2.0	1.0	900	$1,800	$2.00	43d	1	0.53mi
104 Rodney St #2 Worcester, MA	2.0	1.0	921	$1,800	$1.95	23d	1	0.53mi
119 Rodney St Unit 2 Worcester, MA	3.0	1.0	1100	$2,200	$2.00	43d	1	0.55mi
112 Rodney St Unit 1 Worcester, MA	3.0	1.0	1280	$2,000	$1.56	23d	1	0.55mi
100 Wall St Worcester, MA	2.0	1.0	1125	$2,300	$2.04	43d	1	0.56mi
191 Eastern Ave Unit 2 Worcester, MA	3.0	1.0	1000	$2,200	$2.20	43d	1	0.57mi
29 Catharine St Unit B Worcester, MA	3.0	1.0	1197	$2,150	$1.80	14d	1	0.60mi
74 Wall St Unit 1 Worcester, MA	3.0	1.0	1000	$2,000	$2.00	23d	1	0.62mi
327 Plantation St #302 Worcester, MA	2.0	1.5	900	$2,000	$2.22	43d	1	0.62mi
3 Ingleside Ave Unit 2 Worcester, MA	3.0	1.0	1350	$2,650	$1.96	43d	1	0.62mi
22 Mount Carmel Way Worcester, MA	1.0–3.0	1.0–2.0	1000	$2,826	$2.83	14d	31	0.63mi
36 Oak Ave Worcester, MA	2.0	1.0	812	$1,795	$2.21	14d	2	0.64mi
33 Fairmont Ave Worcester, MA	3.0	1.0	1300	$2,500	$1.92	43d	1	0.65mi
35 Oak Ave Unit 2 Worcester, MA	2.0	1.0	1247	$2,200	$1.76	14d	1	0.68mi
41 Orient St Unit 2 Worcester, MA	3.0	1.0	1066	$1,950	$1.83	21d	1	0.70mi
39 Wall St Worcester, MA	3.0	1.0	1300	$2,100	$1.62	43d	1	0.71mi
45 Pilgrim Ave Worcester, MA	3.0	2.0	936	$3,200	$3.42	43d	1	0.74mi

Listing history 18 events

1. 2026-06-18
   days on market $300,000 Active 78 DOM
2. 2026-06-17
   days on market $300,000 Active 77 DOM
3. 2026-06-16
   statusdays on market $300,000 Active 76 DOM
4. 2026-06-15
   days on market $300,000 Price Changed 75 DOM
5. 2026-06-14
   pricestatusdays on market $300,000 Price Changed 73 DOM
6. 2026-06-10
   days on market $314,900 Active 70 DOM
7. 2026-06-09
   days on market $314,900 Active 69 DOM
8. 2026-06-08
   days on market $314,900 Active 68 DOM
9. 2026-06-07
   days on market $314,900 Active 67 DOM
10. 2026-06-05
    days on market $314,900 Active 64 DOM
11. 2026-06-03
    days on market $314,900 Active 63 DOM
12. 2026-06-02
    days on market $314,900 Active 62 DOM
13. 2026-06-01
    days on market $314,900 Active 61 DOM
14. 2026-05-31
    days on market $314,900 Active 60 DOM
15. 2026-05-31
    statusdays on market $314,900 Active 59 DOM
16. 2026-04-16
    price $319,000 748-char remark

    Show marketing remark (748 chars)

    Located in the desired Shrewsbury St area with great commuter access and easy access to UMASS hospitals, medical school and restaurant row. Energy efficient heat pumps for heating and cooling. The main floor offers a living/dining room combination space with gleaming hardwood floors, a window cut out allows for an open flow to the kitchen. French doors lead to the oversized composite deck with privacy fence, a great space to enjoy the spring & summer afternoons. Two bedrooms and full bath located on the 2nd floor, also with heat pumps for heating and cooling. Upgrades include windows, heat pumps, new garage door and hot water heater. Perfect opportunity for owner occupant or investor looking to be in close proximity to area amenities.

17. 2026-04-01
    listed $339,000 New 748-char remark

    Show marketing remark (748 chars)

    Located in the desired Shrewsbury St area with great commuter access and easy access to UMASS hospitals, medical school and restaurant row. Energy efficient heat pumps for heating and cooling. The main floor offers a living/dining room combination space with gleaming hardwood floors, a window cut out allows for an open flow to the kitchen. French doors lead to the oversized composite deck with privacy fence, a great space to enjoy the spring & summer afternoons. Two bedrooms and full bath located on the 2nd floor, also with heat pumps for heating and cooling. Upgrades include windows, heat pumps, new garage door and hot water heater. Perfect opportunity for owner occupant or investor looking to be in close proximity to area amenities.

18. 1989-03-17
    soldstatus $99,900

ⓘ 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: $3,087 · $257/mo
• Projected year-2 tax: $3,388 · $282/mo
• Expected delta: +$302/yr (+$25/mo · 9.8%)

ⓘ 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: $54,804
• − Mortgage interest: −$16,805
• − Property taxes: −$3,087
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,384
• − Management: −$4,384
• − Depreciation: −$8,727
• Taxable income: $15,916
• Est. tax owed @ 24.0%: −$3,820
• After-tax cash flow: $16,009/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): 39,812
• Household income: $73,505
• Rent vs Own: 55.9% rent · 44.1% own
• Severe rent burden: 2232.0

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 0.68)
• Race & ethnicity: White 51% Hispanic / Latino 19% Black 14% Two or more races 12% Asian 7%
• Hispanic origin (detail): Puerto Rican 10% Dominican 3%
• Common ancestry: Lithuanian 6% Estonian 6% Romanian 4%
• Foreign-born: 27% · Canada, Vietnam, China
• Languages at home: 62% English-only · Spanish 13% Other Indo-European 10% 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: ▼ -108.38%
• Current HPI: 295.03
• Rent YoY: ▲ 2.17%
• 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

+219.3% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $319,000 MLS PIN
• 2026-04-01 Listed $339,000 MLS PIN
• 1989-03-17 Sold (Public Records) $99,900 Public Records

Property tax history

+4.5%/yr

Latest (2023): $3,087 · +11.0% YoY. Source: county tax records.