306 Union St · North Adams, MA 01247

$125,000

17 bd · 7.0 ba · 7,462 sqft · MultiFamily public records · 215 Days on market

Built 1900 0.38 ac lot $17/sqft · 68% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.9/10.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor Alert! This multi-unit property is a blank canvas ready for transformation. Interior has been fully gutted, with partial updates including plumbing and electrical. Studded walls and framed rooms already in place. Construction materials on-site will be included in the sale. Needs a buyer with the right vision. No interior access. Drive-by only or walk the exterior by appointment. Don't miss this opportunity to restore and add value! Near MASS MoCA, shopping and dining. Close to museums, theatre, hiking/biking trails, outdoor recreation and all the amenities of the Berkshires! All representations are from the seller or a public source; broker has not verified same. It is recommended buyer independently verify all information.

Key facts

• Framed rooms
• Partial updates
• Studded walls

Tags

• MULTI-UNIT PROPERTY
• FULLY GUTTED INTERIOR
• PARTIAL UPDATES
• PLUMBING AND ELECTRICAL
• STUDDED WALLS
• FRAMED ROOMS

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/?-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 69.9% vs local median 5.8% in North Adams — 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 55/100 on livability (#242 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, schools F.
• North Adams (town): math 14% / reading 29% proficiency, ranked #291 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $35k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $125k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is F 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?
10. 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?
11. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
12. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
13. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
14. 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.
15. 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.

Investment metrics

• 1% rule: 7.61% ✓
• Cap rate: 69.88%
• Cash-on-cash: 227.08%
• DSCR: 11.10
• GRM: 1.1

CMA / ARV

• ARV (median comp): $388,984
• List price: $125,000
• Delta: -67.86%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 11.65×
• Total profit: $372,698
• Equity at exit: $18,638

10-year hold

• IRR: —
• Equity multiple: 24.76×
• Total profit: $831,760
• Equity at exit: $10,808

Cash invested: $35,000 (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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $9,513 high
• Mortgage (P&I): −$656
• Tax from tax record: −$184 /mo · $2,214/yr
• Insurance: −$52
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,998
• Net cashflow: $6,163

Break-even live

Break-even rent $1,712

Max offer price $125,000

Occupancy floor 30%

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	—	$9,516
Total (6 units)			$9,513

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $125,000 Active 215 DOM
2. 2026-06-17
   days on market $125,000 Active 214 DOM
3. 2026-06-16
   days on market $125,000 Active 213 DOM
4. 2026-06-15
   days on market $125,000 Active 212 DOM
5. 2026-06-13
   days on market $125,000 Active 210 DOM
6. 2026-06-12
   days on market $125,000 Active 209 DOM
7. 2026-06-09
   days on market $125,000 Active 206 DOM
8. 2026-06-08
   days on market $125,000 Active 205 DOM
9. 2026-06-07
   days on market $125,000 Active 204 DOM
10. 2026-06-07
    days on market $125,000 Active 203 DOM
11. 2026-06-04
    days on market $125,000 Active 200 DOM
12. 2026-06-02
    days on market $125,000 Active 199 DOM
13. 2026-06-01
    days on market $125,000 Active 198 DOM
14. 2026-05-31
    days on market $125,000 Active 197 DOM
15. 2026-05-31
    days on market $125,000 Active 196 DOM
16. 2026-03-19
    price $125,000 752-char remark

    Show marketing remark (752 chars)

    Investor Alert! This multi-unit property is a blank canvas ready for transformation. Interior has been fully gutted, with partial updates including plumbing and electrical. Studded walls and framed rooms already in place. Construction materials on-site will be included in the sale. Needs a buyer with the right vision. No interior access. Drive-by only or walk the exterior by appointment. Don't miss this opportunity to restore and add value! Near MASS MoCA, shopping and dining. Close to museums, theatre, hiking/biking trails, outdoor recreation and all the amenities of the Berkshires! All representations are from the seller or a public source; broker has not verified same. It is recommended buyer independently verify all information.

17. 2026-03-03
    status Active 752-char remark

    Show marketing remark (752 chars)

    Investor Alert! This multi-unit property is a blank canvas ready for transformation. Interior has been fully gutted, with partial updates including plumbing and electrical. Studded walls and framed rooms already in place. Construction materials on-site will be included in the sale. Needs a buyer with the right vision. No interior access. Drive-by only or walk the exterior by appointment. Don't miss this opportunity to restore and add value! Near MASS MoCA, shopping and dining. Close to museums, theatre, hiking/biking trails, outdoor recreation and all the amenities of the Berkshires! All representations are from the seller or a public source; broker has not verified same. It is recommended buyer independently verify all information.

18. 2026-02-16
    status Pending 752-char remark

    Show marketing remark (752 chars)

    Investor Alert! This multi-unit property is a blank canvas ready for transformation. Interior has been fully gutted, with partial updates including plumbing and electrical. Studded walls and framed rooms already in place. Construction materials on-site will be included in the sale. Needs a buyer with the right vision. No interior access. Drive-by only or walk the exterior by appointment. Don't miss this opportunity to restore and add value! Near MASS MoCA, shopping and dining. Close to museums, theatre, hiking/biking trails, outdoor recreation and all the amenities of the Berkshires! All representations are from the seller or a public source; broker has not verified same. It is recommended buyer independently verify all information.

19. 2025-10-30
    listed $150,000 Active 752-char remark

    Show marketing remark (752 chars)

    Investor Alert! This multi-unit property is a blank canvas ready for transformation. Interior has been fully gutted, with partial updates including plumbing and electrical. Studded walls and framed rooms already in place. Construction materials on-site will be included in the sale. Needs a buyer with the right vision. No interior access. Drive-by only or walk the exterior by appointment. Don't miss this opportunity to restore and add value! Near MASS MoCA, shopping and dining. Close to museums, theatre, hiking/biking trails, outdoor recreation and all the amenities of the Berkshires! All representations are from the seller or a public source; broker has not verified same. It is recommended buyer independently verify all information.

20. 2019-06-30
    historical
21. 2018-07-12
    listed $85,000
22. 2014-02-20
    soldstatus $40,000
23. 2014-02-03
    soldstatus $40,000
24. 2013-09-18
    listed $59,900
25. 2013-08-14
    listed $59,900
26. 2013-03-04
    historical
27. 2012-03-05
    listed $54,900
28. 2012-01-18
    historical
29. 2011-01-18
    listed $54,900
30. 2005-12-30
    soldstatus $252,000
31. 2005-10-27
    historical
32. 2004-10-27
    listed $269,900
33. 1989-06-02
    soldstatus $85,000

ⓘ 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: $2,214 · $184/mo
• Projected year-2 tax: $2,214 · $184/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 100% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥88°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $114,156
• − Mortgage interest: −$7,002
• − Property taxes: −$2,214
• − Insurance: −$6,150
• − Repairs & maintenance: −$9,132
• − Management: −$9,132
• − Depreciation: −$3,636
• Taxable income: $76,889
• Est. tax owed @ 24.0%: −$18,453
• After-tax cash flow: $55,500/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: North Adams
• NCES district ID: 2508670
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $36,746
• Composite: 17.83/100
• National rank: #9006
• State rank: #291 of 302 in MA

Livability — North Adams

• Score: 55/100
• State rank: #242
• US rank: #23506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Adams, MA
• City population: 14,967
• Population (ZIP): 14,967

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 15% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 0%

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: ▼ -6.22%
• Current HPI: 298.8949
• 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

+47.1% since first listed

18 events — show timeline

• 2026-03-19 Price Changed $125,000 BCMLS
• 2026-03-03 Relisted — BCMLS
• 2026-02-16 Pending — BCMLS
• 2025-10-30 Listed $150,000 BCMLS
• 2019-06-30 Listing Removed — BCMLS
• 2018-07-12 Listed $85,000 BCMLS
• 2014-02-20 Sold (MLS) $40,000 MLS PIN
• 2014-02-03 Sold (MLS) $40,000 BCMLS
• 2013-09-18 Listed $59,900 MLS PIN
• 2013-08-14 Listed $59,900 BCMLS
• 2013-03-04 Listing Removed — BCMLS
• 2012-03-05 Listed $54,900 BCMLS
• 2012-01-18 Listing Removed — BCMLS
• 2011-01-18 Listed $54,900 BCMLS
• 2005-12-30 Sold (Public Records) $252,000 Public Records
• 2005-10-27 Listing Removed — BCMLS
• 2004-10-27 Listed $269,900 BCMLS
• 1989-06-02 Sold (Public Records) $85,000 Public Records

Property tax history

+2.9%/yr

Latest (2023): $2,214 · +2.4% YoY. Source: county tax records.