22 Duluth St · Worcester, MA 01604

$614,500

3 bd · 2.5 ba · 1,584 sqft · MultiFamily public records · 22 Days on market

Built 2008 4,000 sqft lot Est $453k · 36% 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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.4/10.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• 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

You'll discover something special around every corner, and on each level of this meticulosuly maintained 3 bedroom, 2.5 bath colonial. The first floor was designed for comfort & ease, and is great for family living with a formal living room and dining room, a granite kitchen with stainless steel appliances, a half bath, and a spacious family room with sliders that lead to the deck that overlooks the private, well manicured backyard. The second level is where you will find a master bedroom with master bath and large walk in closet, 2 additional bedrooms, and the second full bath. The basement could provide additional living space for a growing family. Great location - close to everything, and just minutes to UMass.

Key facts

• Deluxe shed
• Updated home
• Stone patio

Tags

• UPDATED HOME
• CENTRAL VAC
• STONE PATIO
• DELUXE SHED
• HIGH EFFICIENCY FURNACE
• HIGH EFFICIENCY WATER TANK

Property features AI

Finance

• HOA & community: Community offers public transportation, shopping, tennis courts, parks, walk/jog trails, medical facility, laundromat, conservation area, highway access, house of worship, public schools, T-Station, and university access; Not a senior community

Exterior

• Parking: Attached garage (2 spaces); Two covered spaces; Four open parking spaces; Paved parking; Six total parking spaces
• Utilities: Public water; Public sewer; 220-volt electric; Gas connection for range
• Home design: Single-family residence; Property is attached
• Construction: Frame construction; Shingle roof; Concrete perimeter foundation; Built (year per public records)
• Exterior features: Porch; Deck; Corner lot; Lake/pond nearby; 1–2 miles to beach; Access to public beach

Interior

• Kitchen: Range; Oven; Dishwasher; Disposal; Microwave; Refrigerator
• Flooring: Wood floors; Tile floors
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (propane); Central air conditioning
• Interior features: Seven total rooms; Storm doors; Insulated windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $614k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $614k).
• Recommended offer: $605k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $7,017/mo this rent would consume 115% 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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($605k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $237k; list at $614k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $605,282 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $453,024
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Clarissa St	0.12mi	4/2.0 (+1)	1,680 (+6%)	1mo	$480,000	$286	76

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-6,801
• Equity at exit: $91,624

10-year hold

• IRR: 7.8%
• Equity multiple: 1.57×
• Total profit: $97,435
• Equity at exit: $53,131

Cash invested: $172,060 (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: 21.9×

Monthly cashflow live

• Estimated rent: $7,017 medium
• Mortgage (P&I): −$3,223
• Tax from tax record: −$461 /mo · $5,528/yr
• Insurance: −$256
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,474
• Net cashflow: $1,549

Break-even live

Break-even rent $5,057

Max offer price $614,500

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.5	$7,017
Total (3 units)			$7,017

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: $153,625
• Closing costs: $18,435
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Blithewood Ave #705 Worcester, MA	2.0	1.5	1376	$3,000	$2.18	43d	1	0.52mi
6 Davis Way Worcester, MA	3.0	1.5	1519	$3,750	$2.47	14d	1	0.59mi
198 Cohasset St #198 Worcester, MA	3.0	2.0	1216	$2,500	$2.06	43d	1	1.43mi

Listing history 24 events

1. 2026-06-18
   days on market $614,500 Active 22 DOM
2. 2026-06-17
   days on market $614,500 Active 21 DOM
3. 2026-06-16
   days on market $614,500 Active 20 DOM
4. 2026-06-15
   days on market $614,500 Active 19 DOM
5. 2026-06-14
   statusdays on market $614,500 Active 17 DOM
6. 2026-06-10
   pricestatusdays on market $614,500 Price Changed 14 DOM
7. 2026-06-09
   days on market $624,500 Active 13 DOM
8. 2026-06-08
   days on market $624,500 Active 12 DOM
9. 2026-06-07
   days on market $624,500 Active 11 DOM
10. 2026-06-05
    days on market $624,500 Active 8 DOM
11. 2026-06-03
    days on market $624,500 Active 7 DOM
12. 2026-06-02
    days on market $624,500 Active 6 DOM
13. 2026-06-01
    days on market $624,500 Active 5 DOM
14. 2026-05-31
    statusdays on market $624,500 Active 4 DOM
15. 2026-05-31
    days on market $624,500 New 3 DOM
16. 2026-05-27
    listed $624,500 New
17. 2015-05-29
    soldstatus $237,250 Sold 729-char remark

    Show marketing remark (729 chars)

    You'll discover something special around every corner, and on each level of this meticulosuly maintained 3 bedroom, 2.5 bath colonial. The first floor was designed for comfort & ease, and is great for family living with a formal living room and dining room, a granite kitchen with stainless steel appliances, a half bath, and a spacious family room with sliders that lead to the deck that overlooks the private, well manicured backyard. The second level is where you will find a master bedroom with master bath and large walk in closet, 2 additional bedrooms, and the second full bath. The basement could provide additional living space for a growing family. Great location - close to everything, and just minutes to UMass.

18. 2015-04-17
    status Contingent 729-char remark

    Show marketing remark (729 chars)

    You'll discover something special around every corner, and on each level of this meticulosuly maintained 3 bedroom, 2.5 bath colonial. The first floor was designed for comfort & ease, and is great for family living with a formal living room and dining room, a granite kitchen with stainless steel appliances, a half bath, and a spacious family room with sliders that lead to the deck that overlooks the private, well manicured backyard. The second level is where you will find a master bedroom with master bath and large walk in closet, 2 additional bedrooms, and the second full bath. The basement could provide additional living space for a growing family. Great location - close to everything, and just minutes to UMass.

19. 2015-03-30
    listed $244,900 New 729-char remark

    Show marketing remark (729 chars)

    You'll discover something special around every corner, and on each level of this meticulosuly maintained 3 bedroom, 2.5 bath colonial. The first floor was designed for comfort & ease, and is great for family living with a formal living room and dining room, a granite kitchen with stainless steel appliances, a half bath, and a spacious family room with sliders that lead to the deck that overlooks the private, well manicured backyard. The second level is where you will find a master bedroom with master bath and large walk in closet, 2 additional bedrooms, and the second full bath. The basement could provide additional living space for a growing family. Great location - close to everything, and just minutes to UMass.

20. 2009-10-16
    soldstatus $240,000 Sold 469-char remark

    Show marketing remark (469 chars)

    Terrific New Construction - Just Completed by reputable builder - Quality throughout with hardwood floors, granite counter tops, stainless appliances, central a/c and two car garage. Spacious two story foyer, master bedroom has a walk-in closet and full bath. Large basement with tall ceilings could easily be finished. Large private back yard next to a babbling brook. Close to schools, shopping and minutes to the Mass Pike, rtes 20, 9 146 and 290. No Condo Fees.

21. 2009-08-03
    price $249,000 Price Changed 469-char remark

    Show marketing remark (469 chars)

    Terrific New Construction - Just Completed by reputable builder - Quality throughout with hardwood floors, granite counter tops, stainless appliances, central a/c and two car garage. Spacious two story foyer, master bedroom has a walk-in closet and full bath. Large basement with tall ceilings could easily be finished. Large private back yard next to a babbling brook. Close to schools, shopping and minutes to the Mass Pike, rtes 20, 9 146 and 290. No Condo Fees.

22. 2009-06-15
    price $259,000 469-char remark

    Show marketing remark (469 chars)

    Terrific New Construction - Just Completed by reputable builder - Quality throughout with hardwood floors, granite counter tops, stainless appliances, central a/c and two car garage. Spacious two story foyer, master bedroom has a walk-in closet and full bath. Large basement with tall ceilings could easily be finished. Large private back yard next to a babbling brook. Close to schools, shopping and minutes to the Mass Pike, rtes 20, 9 146 and 290. No Condo Fees.

23. 2009-05-14
    listed $244,900 469-char remark

    Show marketing remark (469 chars)

    Terrific New Construction - Just Completed by reputable builder - Quality throughout with hardwood floors, granite counter tops, stainless appliances, central a/c and two car garage. Spacious two story foyer, master bedroom has a walk-in closet and full bath. Large basement with tall ceilings could easily be finished. Large private back yard next to a babbling brook. Close to schools, shopping and minutes to the Mass Pike, rtes 20, 9 146 and 290. No Condo Fees.

24. 2007-05-08
    soldstatus $47,000

ⓘ 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: $5,528 · $461/mo
• Projected year-2 tax: $6,543 · $545/mo
• Expected delta: +$1,015/yr (+$85/mo · 18.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°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: $84,204
• − Mortgage interest: −$34,422
• − Property taxes: −$5,528
• − Insurance: −$3,739
• − Repairs & maintenance: −$6,736
• − Management: −$6,736
• − Depreciation: −$17,876
• Taxable income: $9,166
• Est. tax owed @ 24.0%: −$2,200
• After-tax cash flow: $16,384/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

+1228.7% since first listed

9 events — show timeline

• 2026-05-27 Listed $624,500 MLS PIN
• 2015-05-29 Sold (MLS) $237,250 MLS PIN
• 2015-04-17 Pending — MLS PIN
• 2015-03-30 Listed $244,900 MLS PIN
• 2009-10-16 Sold (MLS) $240,000 MLS PIN
• 2009-08-03 Price Changed $249,000 MLS PIN
• 2009-06-15 Price Changed $259,000 MLS PIN
• 2009-05-14 Listed $244,900 MLS PIN
• 2007-05-08 Sold (Public Records) $47,000 Public Records

Property tax history

+0.8%/yr

Latest (2023): $5,528 · +9.2% YoY. Source: county tax records.