2 E Kendall St · Worcester, MA 01605

$699,900

9 bd · 3.0 ba · 2,952 sqft · MultiFamily public records · 14 Days on market

Built 1890 3,200 sqft lot Est $649k · 8% over

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Why this score? — see what drove the C- 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.2/10.0
• Livability +4.4/5.0
• ARV discount +4.0/15.0
• Rent growth +3.7/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Attention all investors! Well-maintained & fully-rented 3-family building with 3 BR & 1 BA on each fl. Great income at $4,500 per month and tenants pay their own utilities except for water. Lead paint certificate of compliance for all units. Separate gas and electricity. Vinyl windows. Unit 2 & 3 have energy efficient Rinnai gas heaters. Unit 1 has force hot air. Basement structural reinforcement done in 2022. Underground sewer pipe replaced in 2018. Blown-in insulation on the entire building in 2000, all furnaces and ranges were installed in recent years and inspected by the city inspector. Five-year Certification of Inspection on hand for the building. Unit 1 and Unit 2 have long-term tenants who are TAW and would love to stay, Unit 3 has a lease ending 9/30/2022. Conveniently located close to parks, restaurants, shops, hospitals, MBTA and easy access to HWYs. Please wear face masks. Don’t miss it!

Key facts

• Forced hot air
• Vinyl windows
• Blown-in insulation

Tags

• RENOVATED FIRST-FLOOR KITCHEN
• FRESHLY PAINTED COMMON AREAS
• FORCED HOT AIR
• VINYL WINDOWS
• BLOWN-IN INSULATION
• EASY ACCESS TO I-290

Property features AI

Finance

• Other: Property approx. building area 2,952 (above grade finished area); Lot size approximately 0.07 acres; Some units leased
• HOA & community: Access to public transportation, shopping, parks, medical facilities, highway, and public schools; Not a senior community

Exterior

• Parking: No open parking spaces listed
• Utilities: Public water; Public sewer; Electricity individually metered
• Home design: 3-family property (3 units, up/down); 3 stories total; 3 levels
• Construction: Brick/mortar foundation; Shingle roof; Certified treated for lead paint; Built (year per public records)
• Exterior features: Public road frontage

Interior

• Kitchen: Range; Refrigerator
• Flooring: Tile; Vinyl; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Heating present
• Interior features: Living room; Kitchen; 15 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3 × 3.0-bed/1.0-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $441/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $700k).
• Cap rate 8.6% 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 fast (+4.8%/yr); 35 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $7,168/mo this rent would consume 157% of the median local household income ($55k/yr) (locally 1991% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $196k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 29y 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 $600k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $699,900

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 1890 — 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. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $649,440
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Rodney St	0.08mi	9/3.0	3,111 (+5%)	12mo	$685,000	$220	78
95 Green Hl	0.52mi	9/3.0	3,069 (+4%)	1mo	$755,000	$246	68
108 Eastern Ave	0.18mi	9/3.5	3,213 (+9%)	24mo	$608,000	$189	55
10 Channing St	0.16mi	8/3.0 (-1)	3,218 (+9%)	24mo	$710,000	$221	53
11 Shamrock St	0.57mi	9/3.0	3,279 (+11%)	9mo	$690,000	$210	48
28 Prentice	0.69mi	9/3.0	3,258 (+10%)	8mo	$700,000	$215	44
7 Lyon St	0.59mi	9/3.0	3,260 (+10%)	18mo	$750,000	$230	40
73 Paine St	0.69mi	9/3.0	3,378 (+14%)	6mo	$620,000	$184	38

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-16,411
• Equity at exit: $104,357

10-year hold

• IRR: 9.2%
• Equity multiple: 1.76×
• Total profit: $148,611
• Equity at exit: $60,515

Cash invested: $195,972 (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 01605

• Home prices YoY: -21.4%
• Rents YoY: 4.8%
• Active inventory: 35
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $7,168 high
• Mortgage (P&I): −$3,670
• Tax from tax record: −$379 /mo · $4,543/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,505
• Net cashflow: $1,322

Break-even live

Break-even rent $5,494

Max offer price $699,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3.0	1	$7,167
Total (3 units)			$7,168

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $699,900 Active 14 DOM
2. 2026-06-17
   days on market $699,900 Active 13 DOM
3. 2026-06-16
   days on market $699,900 Active 12 DOM
4. 2026-06-15
   days on market $699,900 Active 11 DOM
5. 2026-06-14
   days on market $699,900 Active 9 DOM
6. 2026-06-10
   days on market $699,900 Active 6 DOM
7. 2026-06-09
   days on market $699,900 Active 5 DOM
8. 2026-06-08
   statusdays on market $699,900 Active 4 DOM
9. 2026-06-07
   days on market $699,900 New 3 DOM
10. 2026-06-05
    remarks 699-char remark
11. 2026-06-05
    listed $699,900 New 1 DOM

ⓘ 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: $4,543 · $379/mo
• Projected year-2 tax: $6,576 · $548/mo
• Expected delta: +$2,033/yr (+$169/mo · 44.7%)

ⓘ 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: $86,016
• − Mortgage interest: −$39,205
• − Property taxes: −$4,543
• − Insurance: −$3,500
• − Repairs & maintenance: −$6,881
• − Management: −$6,881
• − Depreciation: −$20,361
• Taxable income: $4,645
• Est. tax owed @ 24.0%: −$1,115
• After-tax cash flow: $14,751/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): 30,579
• Household income: $54,642
• Rent vs Own: 69.7% rent · 30.3% own
• Severe rent burden: 1991.0

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 44% Hispanic / Latino 34% Two or more races 19% Black 13% Asian 5%
• Hispanic origin (detail): Puerto Rican 24% Dominican 5%
• Common ancestry: Lithuanian 4% Estonian 2% Romanian 2%
• Foreign-born: 23% · Canada, Vietnam, China
• Languages at home: 54% English-only · Spanish 27% Other Indo-European 5% Arabic 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: ▼ -85.79%
• Current HPI: 314.391
• Rent YoY: ▲ 4.77%
• 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

+673.4% since first listed

19 events — show timeline

• 2026-06-04 Listed $699,900 MLS PIN
• 2022-06-03 Sold (MLS) $600,000 MLS PIN
• 2022-05-19 Pending — MLS PIN
• 2022-04-27 Pending — MLS PIN
• 2022-04-08 Listed $549,000 MLS PIN
• 2018-01-19 Sold (MLS) $207,000 MLS PIN
• 2017-12-06 Pending — MLS PIN
• 2017-11-03 Relisted — MLS PIN
• 2017-10-21 Pending — MLS PIN
• 2017-09-25 Price Changed $220,000 MLS PIN
• 2017-09-25 Relisted — MLS PIN
• 2017-09-14 Pending — MLS PIN
• 2017-08-07 Price Changed $230,000 MLS PIN
• 2017-07-08 Listed $235,500 MLS PIN
• 1997-10-09 Sold (Public Records) $32,000 Public Records
• 1997-10-07 Sold (MLS) $32,000 MLS PIN
• 1997-09-12 Listing Removed — MLS PIN
• 1997-09-05 Listed $42,000 MLS PIN
• 1987-01-09 Sold (Public Records) $90,500 Public Records

Property tax history

+4.6%/yr

Latest (2023): $4,543 · +15.0% YoY. Source: county tax records.