21 Park St · Athol, MA 01331

$89,990

4 bd · 3.5 ba · 2,180 sqft · MultiFamily public records · 58 Days on market

Built 1850 0.36 ac lot $41/sqft · 67% 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 +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 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

PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

Key facts

• 0.36 acre lot
• Garage
• Built 1850

Tags

• MULTI-FAMILY ZONED PROPERTY
• HIGH-DEMAND RENTAL MARKET
• NEAR DOWNTOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 38.6% vs local median 4.0% in Athol — 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 74/100 on livability (#84 in MA, #4,383 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment D, schools F, amenities F.
• Athol-Royalston (town): math 22% / reading 33% proficiency, ranked #265 of 302 in MA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 42 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 33y ago; this cycle's ask has dropped $40k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,290 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 4.45% ✓
• Cap rate: 38.56%
• Cash-on-cash: 115.25%
• DSCR: 6.13
• GRM: 1.9

CMA / ARV

• ARV (median comp): $275,401
• List price: $89,990
• Delta: -67.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Prospect St	0.36mi	4/2.0	2,082 (-4%)	3mo	$365,000	$175	67
270 Cottage St	0.51mi	5/2.0 (+1)	2,105 (-3%)	19mo	$320,000	$152	44
258 Wallingford Ave	0.64mi	4/2.0	2,368 (+9%)	23mo	$350,000	$148	31

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: —
• Equity multiple: 6.54×
• Total profit: $139,690
• Equity at exit: $13,418

10-year hold

• IRR: —
• Equity multiple: 13.73×
• Total profit: $320,671
• Equity at exit: $7,781

Cash invested: $25,197 (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 01331

• Home prices YoY: -9.9%
• Active inventory: 42
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $4,008 high
• Mortgage (P&I): −$472
• Tax from tax record: −$237 /mo · $2,842/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$842
• Net cashflow: $2,420

Break-even live

Break-even rent $945

Max offer price $89,990

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,008
Total (2 units)			$4,008

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: $22,498
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
199 High St Unit 1 Athol, MA	3.0	1.0	1500	$2,100	$1.40	13d	1	0.13mi
150 Green St Unit 1 Athol, MA	4.0	1.0	1500	$2,300	$1.53	13d	1	0.23mi
551 Chestnut St #2 Athol, MA	3.0	1.0	2595	$2,200	$0.85	13d	1	0.59mi
73 Walnut St Unit 2 Athol, MA	3.0	1.0	1500	$1,900	$1.27	13d	1	0.88mi

Listing history 37 events

1. 2026-06-18
   days on market $89,990 Active 58 DOM
2. 2026-06-17
   days on market $89,990 Active 57 DOM
3. 2026-06-16
   days on market $89,990 Active 56 DOM
4. 2026-06-15
   days on market $89,990 Active 55 DOM
5. 2026-06-13
   days on market $89,990 Active 53 DOM
6. 2026-06-12
   days on market $89,990 Active 52 DOM
7. 2026-06-09
   days on market $89,990 Active 49 DOM
8. 2026-06-08
   days on market $89,990 Active 48 DOM
9. 2026-06-07
   days on market $89,990 Active 47 DOM
10. 2026-06-07
    days on market $89,990 Active 46 DOM
11. 2026-06-04
    days on market $89,990 Active 43 DOM
12. 2026-06-02
    days on market $89,990 Active 42 DOM
13. 2026-06-01
    days on market $89,990 Active 41 DOM
14. 2026-05-31
    days on market $89,990 Active 40 DOM
15. 2026-05-31
    days on market $89,990 Active 39 DOM
16. 2026-05-10
    status Back On Market 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

17. 2026-04-07
    status Under Agreement 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

18. 2026-03-27
    status Back On Market 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

19. 2026-03-27
    price $89,990 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

20. 2026-03-26
    status Under Agreement 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

21. 2026-03-26
    price $130,000 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

22. 2026-03-25
    price $89,990 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

23. 2026-03-17
    listed $130,000 New 644-char remark

    Show marketing remark (644 chars)

    PRIME INVESTMENT OPPORTUNITY!!!!CASH ONLY!! Unlock the potential of this multi-family zoned property at 21 Park St—a rare chance for builders, developers, and savvy investors to capitalize on a high-demand rental market. The existing structure has experienced fire damage and is being sold as-is, creating the perfect opportunity for a tear-down or full redevelopment. Positioned near downtown amenities with convenient access to Massachusetts Route 2, this location supports strong future resale or rental income potential. Opportunities like this are limited—bring your vision and maximize the value. Cash or rehab financing only.

24. 2007-01-30
    soldstatus $187,000 390-char remark

    Show marketing remark (390 chars)

    Large and nicely updated mansard roof Victorian with in law apartment. First floor of the main house gutted and rebuilt 5 years ago -- all oak floors, high ceilings, big rooms. Original charm was preserved with renovation. Very large attached barn/garage offers plenty of storage space. Nice yard. In town location but on quiet end of a dead end street near nicer homes. Worth a look!

25. 2007-01-30
    soldstatus $187,000

    Show marketing remark (390 chars)

    Large and nicely updated mansard roof Victorian with in law apartment. First floor of the main house gutted and rebuilt 5 years ago -- all oak floors, high ceilings, big rooms. Original charm was preserved with renovation. Very large attached barn/garage offers plenty of storage space. Nice yard. In town location but on quiet end of a dead end street near nicer homes. Worth a look!

26. 2007-01-30
    soldstatus $187,000

    Show marketing remark (390 chars)

    Large and nicely updated mansard roof Victorian with in law apartment. First floor of the main house gutted and rebuilt 5 years ago -- all oak floors, high ceilings, big rooms. Original charm was preserved with renovation. Very large attached barn/garage offers plenty of storage space. Nice yard. In town location but on quiet end of a dead end street near nicer homes. Worth a look!

27. 2006-12-20
    historical 390-char remark

    Show marketing remark (390 chars)

    Large and nicely updated mansard roof Victorian with in law apartment. First floor of the main house gutted and rebuilt 5 years ago -- all oak floors, high ceilings, big rooms. Original charm was preserved with renovation. Very large attached barn/garage offers plenty of storage space. Nice yard. In town location but on quiet end of a dead end street near nicer homes. Worth a look!

28. 2006-05-08
    listed $189,900 390-char remark

    Show marketing remark (390 chars)

    Large and nicely updated mansard roof Victorian with in law apartment. First floor of the main house gutted and rebuilt 5 years ago -- all oak floors, high ceilings, big rooms. Original charm was preserved with renovation. Very large attached barn/garage offers plenty of storage space. Nice yard. In town location but on quiet end of a dead end street near nicer homes. Worth a look!

29. 2001-03-23
    soldstatus $100,000
30. 2000-02-11
    soldstatus $40,350
31. 2000-02-11
    soldstatus $40,350
32. 2000-02-10
    historical
33. 2000-01-07
    listed $35,900
34. 1993-05-28
    soldstatus $45,000
35. 1993-04-10
    historical
36. 1993-03-12
    listed $49,900
37. 1987-08-21
    soldstatus $54,000

ⓘ 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: $2,842 · $237/mo
• Projected year-2 tax: $2,842 · $237/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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,096
• − Mortgage interest: −$5,041
• − Property taxes: −$2,842
• − Insurance: −$450
• − Repairs & maintenance: −$3,848
• − Management: −$3,848
• − Depreciation: −$2,618
• Taxable income: $29,450
• Est. tax owed @ 24.0%: −$7,068
• After-tax cash flow: $21,973/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: Athol-Royalston
• NCES district ID: 2502160
• Math proficiency: 22% ▼ -14.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $49,570
• Composite: 24.05/100
• National rank: #7764
• State rank: #265 of 302 in MA

Livability — Athol

• Score: 74/100
• State rank: #84
• US rank: #4383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athol, MA
• Population (ZIP): 13,865

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Two or more races 4% Black 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 14% Romanian 6% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 2% German/W. Germanic 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: ▼ -37.02%
• Current HPI: 336.1238
• 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

+66.6% since first listed

22 events — show timeline

• 2026-05-10 Relisted — MLS PIN
• 2026-04-07 Pending — MLS PIN
• 2026-03-27 Relisted — MLS PIN
• 2026-03-27 Price Changed $89,990 MLS PIN
• 2026-03-26 Pending — MLS PIN
• 2026-03-26 Price Changed $130,000 MLS PIN
• 2026-03-25 Price Changed $89,990 MLS PIN
• 2026-03-17 Listed $130,000 MLS PIN
• 2007-01-30 Sold (Public Records) $187,000 Public Records
• 2007-01-30 Sold (Public Records) $187,000 Public Records
• 2007-01-30 Sold (MLS) $187,000 MLS PIN
• 2006-12-20 Listing Removed — MLS PIN
• 2006-05-08 Listed $189,900 MLS PIN
• 2001-03-23 Sold (Public Records) $100,000 Public Records
• 2000-02-11 Sold (Public Records) $40,350 Public Records
• 2000-02-11 Sold (MLS) $40,350 MLS PIN
• 2000-02-10 Listing Removed — MLS PIN
• 2000-01-07 Listed $35,900 MLS PIN
• 1993-05-28 Sold (MLS) $45,000 MLS PIN
• 1993-04-10 Listing Removed — MLS PIN
• 1993-03-12 Listed $49,900 MLS PIN
• 1987-08-21 Sold (Public Records) $54,000 Public Records

Property tax history

+2.3%/yr

Latest (2023): $2,842 · +9.1% YoY. Source: county tax records.