25 East St · Grafton, MA 01536

$629,999

4 bd · 2.5 ba · 2,370 sqft · MultiFamily public records · 78 Days on market

Built 1920 1.19 ac lot $266/sqft · waterfront premium Est $571k · 10% over · waterfront ↓ 53% since listing

---

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 +20.9/30.0
• DSCR +6.6/10.0
• 1% rule +5.2/10.0
• Schools +5.1/10.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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

This garage and outdoor space is in a residential area, able to be used for anything under the Grafton by-laws or for personal use.62 ft x 37 ft garage space available, approximately 2300 sq ft. Outdoor gated area 65 ft x 40 approximately 2600sq ft. Refer to listing for multi family property. This property has been recently subdivided from its original parcel. The garage is now its own separate buildable lot. There is now opportunity to build above the existing garage, creating additional large single family with accessory dwelling for 2 more sources of rent. MLS 73494354. Adjacent pond is also for sale MLS 73494346.

Key facts

• Four seasons porch
• Buildable lot
• Large kitchen

Tags

• IN UNIT LAUNDRY
• LARGE KITCHEN
• FOUR SEASONS PORCH
• PRIVATE ENTRANCE
• LARGE PARKING AREA
• BUILDABLE LOT

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $630k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive. Per door: $206/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $630k).
• Recommended offer: $592k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Grafton (suburban): math 50% / reading 60% proficiency, ranked #82 of 302 in MA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 25 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 $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($592k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 94% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $592,199 (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. 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 1920 — 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

• ARV (median comp): $571,088
• List price: $629,999
• Delta: 10.32%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 East St	0.17mi	5/4.0 (+1)	2,520 (+6%)	11mo	$670,000	$266	61

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-75,575
• Equity at exit: $93,935

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-30,884
• Equity at exit: $54,471

Cash invested: $176,400 (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 01536

• Home prices YoY: -19.7%
• Active inventory: 25
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $6,417 medium
• Mortgage (P&I): −$3,304
• Tax from tax record: −$631 /mo · $7,571/yr
• Insurance: −$262
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,348
• Net cashflow: $412

Break-even live

Break-even rent $5,896

Max offer price $629,999

Occupancy floor 89%

Sensitivity live

Price	-10% $768	-5% $590	+0% $412	+5% $233	+10% $55
Rent	-10% $-95	-5% $158	+0% $412	+5% $665	+10% $919
Rate	-1.0pp $729	-0.5pp $572	base $412	+0.5pp $249	+1.0pp $82

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$3,128
1× unit	3	1	$3,289
Total (2 units)			$6,417

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: $157,500
• Closing costs: $18,900
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $629,999 Active 78 DOM
2. 2026-06-17
   days on market $629,999 Active 77 DOM
3. 2026-06-16
   days on market $629,999 Active 76 DOM
4. 2026-06-15
   statusdays on market $629,999 Active 75 DOM
5. 2026-06-14
   days on market $629,999 Price Changed 73 DOM
6. 2026-06-13
   pricestatusdays on market $629,999 Price Changed 72 DOM
7. 2026-06-10
   days on market $639,900 Active 70 DOM
8. 2026-06-09
   days on market $639,900 Active 69 DOM
9. 2026-06-08
   days on market $639,900 Active 68 DOM
10. 2026-06-07
    days on market $639,900 Active 67 DOM
11. 2026-06-05
    days on market $639,900 Active 64 DOM
12. 2026-06-03
    days on market $639,900 Active 63 DOM
13. 2026-06-02
    days on market $639,900 Active 62 DOM
14. 2026-06-01
    days on market $639,900 Active 61 DOM
15. 2026-05-31
    days on market $639,900 Active 60 DOM
16. 2026-05-31
    days on market $639,900 Active 59 DOM
17. 2026-04-23
    price $320,000 627-char remark

    Show marketing remark (1004 chars)

    Two family spacious and well maintained property in the heart of North Grafton,MA. Perfect for investors or owner-occupants seeking rental income. Located within 3 miles of Tufts and MA Pike. Each unit features comfortable living spaces, well- sized bedrooms and functional kitchens ideal for long-term tenants. Unit A includes 2 bedroom, 1 bath, in-unit laundry with large kitchen overlooking deck and pond. Unit B includes a 3 bedroom, 1 bath, in-unit laundry, large kitchen, 4 seasons porch overlooking scenic pond views. Additionally, the attic has private entrance, leaving potential to make this an in-law suit or expand unit B.  Recent updates include AC/Heat, electric panels, landlord panel, roof, and water heaters. This residence also includes large parking area. Property recently subdivided from its original parcel. Adjacent garage is now its own separate buildable lot for sale.There is now opportunity to build above the existing garage a large single family with accessory dwelling.

18. 2026-04-23
    price $649,999 1004-char remark

    Show marketing remark (1004 chars)

    Two family spacious and well maintained property in the heart of North Grafton,MA. Perfect for investors or owner-occupants seeking rental income. Located within 3 miles of Tufts and MA Pike. Each unit features comfortable living spaces, well- sized bedrooms and functional kitchens ideal for long-term tenants. Unit A includes 2 bedroom, 1 bath, in-unit laundry with large kitchen overlooking deck and pond. Unit B includes a 3 bedroom, 1 bath, in-unit laundry, large kitchen, 4 seasons porch overlooking scenic pond views. Additionally, the attic has private entrance, leaving potential to make this an in-law suit or expand unit B.  Recent updates include AC/Heat, electric panels, landlord panel, roof, and water heaters. This residence also includes large parking area. Property recently subdivided from its original parcel. Adjacent garage is now its own separate buildable lot for sale.There is now opportunity to build above the existing garage a large single family with accessory dwelling.

19. 2026-04-01
    listed $675,000 New 1004-char remark

    Show marketing remark (627 chars)

    This garage and outdoor space is in a residential area, able to be used for anything under the Grafton by-laws or for personal use.62 ft x 37 ft garage space available, approximately 2300 sq ft. Outdoor gated area 65 ft x 40 approximately 2600sq ft. Refer to listing for multi family property. This property has been recently subdivided from its original parcel. The garage is now its own separate buildable lot. There is now opportunity to build above the existing garage, creating additional large single family with accessory dwelling for 2 more sources of rent. MLS 73494354. Adjacent pond is also for sale MLS 73494346.

20. 2026-04-01
    listed $325,000 New 627-char remark

    Show marketing remark (627 chars)

    This garage and outdoor space is in a residential area, able to be used for anything under the Grafton by-laws or for personal use.62 ft x 37 ft garage space available, approximately 2300 sq ft. Outdoor gated area 65 ft x 40 approximately 2600sq ft. Refer to listing for multi family property. This property has been recently subdivided from its original parcel. The garage is now its own separate buildable lot. There is now opportunity to build above the existing garage, creating additional large single family with accessory dwelling for 2 more sources of rent. MLS 73494354. Adjacent pond is also for sale MLS 73494346.

ⓘ 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: $7,571 · $631/mo
• Projected year-2 tax: $7,660 · $638/mo
• Expected delta: +$89/yr (+$7/mo · 1.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 77% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $77,004
• − Mortgage interest: −$35,290
• − Property taxes: −$7,571
• − Insurance: −$8,675
• − Repairs & maintenance: −$6,160
• − Management: −$6,160
• − Depreciation: −$18,327
• Taxable loss: −$5,180
• Est. tax savings @ 24.0%: +$1,243
• After-tax cash flow: $6,185/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: Grafton
• NCES district ID: 2505370
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 60% ▼ -7.00%
• Median HH income: $90,025
• Composite: 50.72/100
• National rank: #1816
• State rank: #82 of 302 in MA

Livability — Grafton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 4,984
• Population (ZIP): 7,119

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 (75%)
• Race & ethnicity: White 75% Two or more races 12% Asian 9% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 9% Romanian 6% German 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 80% English-only · Other Indo-European 9% Spanish 6% French/Haitian/Cajun 1%

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: ▼ -60.39%
• Current HPI: 245.9758
• 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

-52.6% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $320,000 MLS PIN
• 2026-04-23 Price Changed $649,999 MLS PIN
• 2026-04-01 Listed $325,000 MLS PIN
• 2026-04-01 Listed $675,000 MLS PIN

Property tax history

+3.4%/yr

Latest (2023): $7,571 · +7.8% YoY. Source: county tax records.