425 South Main St · Haverhill, MA 01385

$1,550,000

9 bd · 8.0 ba · 4,912 sqft · MultiFamily public records · 34 Days on market

Built 1885 0.32 ac lot $316/sqft · 83% above area

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Why this score? — see what drove the B- 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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

Nicely situated in Bradford, this distinguished 1890's Italianate mansion offers 8 spacious units (5 studio, 3 one-bedroom), each full of character and modern convenience. The property has undergone extensive capital improvements including separate electric service for all units, new steam heating system with steel chimney, newer water heaters, significant plumbing upgrades, newer windows and original hardwood floors. Ample on-site parking available with additional guest spaces. This is a rare opportunity to own a historic 8-unit property with strong infrastructure and timeless appeal. All units are fully leased, providing an excellent opportunity to add a turnkey property to your portfolio before year end.

Key facts

• Newer windows
• 0.32 acre lot
• Built 1885

Tags

• SEPARATE ELECTRIC SERVICE
• NEW STEAM HEATING SYSTEM
• SIGNIFICANT PLUMBING UPGRADES
• NEWER WINDOWS
• ORIGINAL HARDWOOD FLOORS
• AMPLE ON-SITE PARKING

What this means for you Summary

Snapshot

• This is a 3×3bd/1ba + 5×1bd/1ba units multifamily listed at $1.55M.

Deal economics

• At list price, monthly cash flow is $5k ($55k/yr) — positive. Per door: $569/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.55M).
• Recommended offer: $1.50M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.7% in Haverhill — 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 75/100 on livability (#79 in MA, #4,197 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F, cost of living F.
• Haverhill (suburban): math 20% / reading 33% proficiency, ranked #264 of 302 in MA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).

Forward outlook

• In year one you build about $57k of equity ($11k loan paydown + $46k appreciation (3.0% local appreciation)).
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $434k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($1.50M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $630k; list at $1.55M implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,503,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1885 — 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. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.58%
• DSCR: 1.56
• GRM: 7.2

CMA / ARV

• ARV (median comp): $846,868
• List price: $1,550,000
• Delta: 83.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48-50 S Elm	0.38mi	8/6.0 (-1)	5,623 (+14%)	20mo	$1,065,000	$189	28

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: 19.3%
• Equity multiple: 2.10×
• Total profit: $475,998
• Equity at exit: $696,947

10-year hold

• IRR: 20.5%
• Equity multiple: 3.97×
• Total profit: $1,288,194
• Equity at exit: $1,074,079

Cash invested: $434,000 (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 01385

• Active inventory: 1
• Price-to-rent: 49.8×

Monthly cashflow live

• Estimated rent: $17,911 high
• Mortgage (P&I): −$8,128
• Tax from tax record: −$827 /mo · $9,925/yr
• Insurance: −$646
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,761
• Net cashflow: $4,548

Break-even live

Break-even rent $12,154

Max offer price $1,550,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,773
▸ 5× units	1	1	$10,135
Total (8 units)			$17,911

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: $387,500
• Closing costs: $46,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $1,550,000 Active 34 DOM
2. 2026-06-17
   days on market $1,550,000 Active 33 DOM
3. 2026-06-16
   days on market $1,550,000 Active 32 DOM
4. 2026-06-15
   days on market $1,550,000 Active 31 DOM
5. 2026-06-13
   days on market $1,550,000 Active 29 DOM
6. 2026-06-13
   days on market $1,550,000 Active 28 DOM
7. 2026-06-09
   days on market $1,550,000 Active 25 DOM
8. 2026-06-08
   days on market $1,550,000 Active 24 DOM
9. 2026-06-07
   days on market $1,550,000 Active 23 DOM
10. 2026-06-04
    days on market $1,550,000 Active 20 DOM
11. 2026-06-03
    days on market $1,550,000 Active 19 DOM
12. 2026-06-02
    days on market $1,550,000 Active 18 DOM
13. 2026-06-01
    days on market $1,550,000 Active 17 DOM
14. 2026-05-31
    days on market $1,550,000 Active 16 DOM
15. 2026-05-15
    listed $1,550,000 New 716-char remark

    Show marketing remark (716 chars)

    Nicely situated in Bradford, this distinguished 1890's Italianate mansion offers 8 spacious units (5 studio, 3 one-bedroom), each full of character and modern convenience. The property has undergone extensive capital improvements including separate electric service for all units, new steam heating system with steel chimney, newer water heaters, significant plumbing upgrades, newer windows and original hardwood floors. Ample on-site parking available with additional guest spaces. This is a rare opportunity to own a historic 8-unit property with strong infrastructure and timeless appeal. All units are fully leased, providing an excellent opportunity to add a turnkey property to your portfolio before year end.

16. 2014-10-27
    soldstatus $630,000 Sold 361-char remark

    Show marketing remark (361 chars)

    Opportunity to own an 8 unit building in Bradford, Haverhill's nicest neighborhood. Very clean property with strong rent roll. Cash on cash return of 11.5%. No long term maintenance issues. Truly a turn key situation. Five units are 3rm/1bdrm and three units are studios. Fully occupied with plenty of parking. Contact listing broker for rent roll and expenses.

17. 2014-10-15
    status Under Agreement 361-char remark

    Show marketing remark (361 chars)

    Opportunity to own an 8 unit building in Bradford, Haverhill's nicest neighborhood. Very clean property with strong rent roll. Cash on cash return of 11.5%. No long term maintenance issues. Truly a turn key situation. Five units are 3rm/1bdrm and three units are studios. Fully occupied with plenty of parking. Contact listing broker for rent roll and expenses.

18. 2014-10-14
    historical 361-char remark

    Show marketing remark (361 chars)

    Opportunity to own an 8 unit building in Bradford, Haverhill's nicest neighborhood. Very clean property with strong rent roll. Cash on cash return of 11.5%. No long term maintenance issues. Truly a turn key situation. Five units are 3rm/1bdrm and three units are studios. Fully occupied with plenty of parking. Contact listing broker for rent roll and expenses.

19. 2014-09-10
    historical Contingent 361-char remark

    Show marketing remark (361 chars)

    Opportunity to own an 8 unit building in Bradford, Haverhill's nicest neighborhood. Very clean property with strong rent roll. Cash on cash return of 11.5%. No long term maintenance issues. Truly a turn key situation. Five units are 3rm/1bdrm and three units are studios. Fully occupied with plenty of parking. Contact listing broker for rent roll and expenses.

20. 2014-07-14
    listed $699,000 New 361-char remark

    Show marketing remark (361 chars)

    Opportunity to own an 8 unit building in Bradford, Haverhill's nicest neighborhood. Very clean property with strong rent roll. Cash on cash return of 11.5%. No long term maintenance issues. Truly a turn key situation. Five units are 3rm/1bdrm and three units are studios. Fully occupied with plenty of parking. Contact listing broker for rent roll and expenses.

21. 2009-09-24
    soldstatus $512,000

ⓘ 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: $9,925 · $827/mo
• Projected year-2 tax: $14,495 · $1,208/mo
• Expected delta: +$4,570/yr (+$381/mo · 46.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $214,932
• − Mortgage interest: −$86,824
• − Property taxes: −$9,925
• − Insurance: −$7,750
• − Repairs & maintenance: −$17,195
• − Management: −$17,195
• − Depreciation: −$45,091
• Taxable income: $30,953
• Est. tax owed @ 24.0%: −$7,429
• After-tax cash flow: $47,152/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: Haverhill
• NCES district ID: 2505970
• Math proficiency: 20% ▼ -17.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $61,462
• Composite: 24.35/100
• National rank: #7697
• State rank: #264 of 302 in MA

Livability — Haverhill

• Score: 75/100
• State rank: #79
• US rank: #4197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Haverhill, MA

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+202.7% since first listed

7 events — show timeline

• 2026-05-15 Listed $1,550,000 MLS PIN
• 2014-10-27 Sold (MLS) $630,000 MLS PIN
• 2014-10-15 Relisted — MLS PIN
• 2014-10-14 Listing Removed — MLS PIN
• 2014-09-10 Contingent — MLS PIN
• 2014-07-14 Listed $699,000 MLS PIN
• 2009-09-24 Sold (Public Records) $512,000 Public Records

Property tax history

+3.7%/yr

Latest (2023): $9,925 · +1.9% YoY. Source: county tax records.