573 Main St · Southbridge Town, MA 01550

$1,050,000

9 bd · 7.0 ba · 7,752 sqft · MultiFamily public records · 43 Days on market

Built 1915 5,662 sqft lot $135/sqft · 37% above area Est $766k · 37% over

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 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

7-unit multifamily investment opportunity featuring a mix of spacious 2- and 3-bedroom units across four levels, totaling over 7,700 sq ft of living area. Current rents are below market with two vacant units, providing immediate opportunity for lease-up and income growth. Property offers off-street parking, separate living layouts, and consistent rental demand in the area. Currently two vacant units, potentially being filled soon* Select units have been updated, and the building has been maintained over time. Tenants are responsible for their own utilities. Ideal for investors seeking in-place income with the ability to increase cash flow through rent optimization and stabilization. Financials reflect current rent roll only; buyer to perform due diligence.

Key facts

• Updated units
• Maintained building
• Off-street parking

Tags

• OFF-STREET PARKING
• SEPARATE LIVING LAYOUTS
• UPDATED UNITS
• MAINTAINED BUILDING

What this means for you Summary

Snapshot

• This is a 7 × 3-bed/1.0-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $5k ($65k/yr) — positive. Per door: $773/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.05M).
• Recommended offer: $1.02M (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.6% in Southbridge Town — 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 56/100 on livability (#235 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, employment D, amenities F.
• Southbridge (suburban): math 5% / reading 17% proficiency, ranked #301 of 302 in MA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southbridge Middle School (math 4% / reading 11%, grade F, #298 of 305 statewide, top 98%, 405 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $14,990/mo this rent would consume 271% of the median local household income ($66k/yr) (locally 1217% 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 $7k of loan paydown is wiped out by about $32k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $294k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $1,018,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.43% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.07%
• DSCR: 1.98
• GRM: 5.8

CMA / ARV

• ARV (median comp): $765,619
• List price: $1,050,000
• Delta: 37.14%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.8%
• Equity multiple: 1.59×
• Total profit: $173,990
• Equity at exit: $156,558

10-year hold

• IRR: 23.5%
• Equity multiple: 3.02×
• Total profit: $593,863
• Equity at exit: $90,785

Cash invested: $294,000 (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 01550

• Home prices YoY: -7.8%
• Active inventory: 41
• Price-to-rent: 40.9×

Monthly cashflow live

• Estimated rent: $14,990 high
• Mortgage (P&I): −$5,506
• Tax from tax record: −$491 /mo · $5,888/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,148
• Net cashflow: $5,408

Break-even live

Break-even rent $8,145

Max offer price $1,050,000

Occupancy floor 59%

Sensitivity live

Price	-10% $6,002	-5% $5,705	+0% $5,408	+5% $5,110	+10% $4,813
Rent	-10% $4,223	-5% $4,816	+0% $5,408	+5% $6,000	+10% $6,592
Rate	-1.0pp $5,936	-0.5pp $5,675	base $5,408	+0.5pp $5,136	+1.0pp $4,859

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

Units	Beds	Baths	Est. rent
▸ 7× units	3	1	$14,987
Total (7 units)			$14,990

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-13
   listed $1,050,000 New 766-char remark

   Show marketing remark (766 chars)

   7-unit multifamily investment opportunity featuring a mix of spacious 2- and 3-bedroom units across four levels, totaling over 7,700 sq ft of living area. Current rents are below market with two vacant units, providing immediate opportunity for lease-up and income growth. Property offers off-street parking, separate living layouts, and consistent rental demand in the area. Currently two vacant units, potentially being filled soon* Select units have been updated, and the building has been maintained over time. Tenants are responsible for their own utilities. Ideal for investors seeking in-place income with the ability to increase cash flow through rent optimization and stabilization. Financials reflect current rent roll only; buyer to perform due diligence.

2. 2024-11-14
   historical $1,750
3. 2024-11-12
   price $1,750
4. 2024-08-24
   listed $1,950

ⓘ 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: $5,888 · $491/mo
• Projected year-2 tax: $9,402 · $783/mo
• Expected delta: +$3,514/yr (+$293/mo · 59.7%)

ⓘ 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 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $179,880
• − Mortgage interest: −$58,816
• − Property taxes: −$5,888
• − Insurance: −$5,250
• − Repairs & maintenance: −$14,390
• − Management: −$14,390
• − Depreciation: −$30,545
• Taxable income: $50,599
• Est. tax owed @ 24.0%: −$12,144
• After-tax cash flow: $52,748/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: Southbridge
• NCES district ID: 2511010
• Math proficiency: 5% ▼ -5.00%
• Reading proficiency: 17% ▼ -1.00%
• Median HH income: $45,438
• Composite: 9.97/100
• National rank: #9814
• State rank: #301 of 302 in MA

Livability — Southbridge Town

• Score: 56/100
• State rank: #235
• US rank: #22429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southbridge Town, MA
• County: Worcester County · 487,911 people
• City population: 17,806
• Metro: Worcester, MA-CT
• Population (ZIP): 17,928
• Household income: $66,287
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 1217.0

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: Majority White (54%)
• Race & ethnicity: White 54% Hispanic / Latino 40% Two or more races 21% Black 3%
• Hispanic origin (detail): Puerto Rican 35% Dominican 2%
• Common ancestry: Lithuanian 13% Romanian 4% German 1%
• Foreign-born: 4% · Canada
• Languages at home: 65% English-only · Spanish 31% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -23.80%
• Current HPI: 280.5379
• Rent YoY: —
• 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

+53746.2% since first listed

4 events — show timeline

• 2026-04-13 Listed $1,050,000 MLS PIN
• 2024-11-14 Rental Removed $1,750 BUILDIUM
• 2024-11-12 Price Changed $1,750 BUILDIUM
• 2024-08-24 Listed for Rent $1,950 BUILDIUM

Property tax history

+3.2%/yr

Latest (2023): $5,888 · +6.2% YoY. Source: county tax records.