5 Anna St · Worcester, MA 01606

$594,000

4 bd · 2.0 ba · 2,464 sqft · MultiFamily public records · 22 Days on market

Built 1898 3,763 sqft lot Est $692k · 14% under

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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 +30.0/30.0
• ARV discount +13.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.4/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 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

Conveniently located in the area of UMass Medical School, Property located near major routes including I-290, I-90, Rt. 9 and Rt. 20, this well-positioned multi-family home offers incredible potential for both investors and owner-occupants alike. Unit 1 features 2 bedrooms and 1 full bath, while Unit 2 also offers 2 bedrooms and 1 full bath, providing comfortable living spaces with excellent rental appeal. Situated close to shopping, dining, and everyday conveniences, this property is located in a high-demand area with strong rental potential. Whether you're looking to expand your investment portfolio or live in one unit while generating income from the other, this versatile multi-family is

Key facts

• Growing neighborhood
• High-demand area
• Commuter access

Tags

• HIGH-DEMAND AREA
• STRONG RENTAL POTENTIAL
• GROWING NEIGHBORHOOD
• COMMUTER ACCESS

Property features AI

Finance

• HOA & community: Community amenities include public transportation, shopping, parks, walk/jog trails, medical facility access, highway access, house of worship, and public schools; Not a senior community

Exterior

• Parking: 3 off-street parking spaces
• Utilities: Public water; Public sewer; Electric: 110 volts, common service, individually metered; Gas available for gas range
• Home design: Multi-family property; 2 stories
• Construction: Frame construction; Stone foundation; Shingle roof; White exterior
• Exterior features: Wood deck; Level lot; Paved public road frontage

Interior

• Flooring: Vinyl; Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Interior features: Total of 10 rooms; Full basement with bulkhead

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $594k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $594k).
• Recommended offer: $585k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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: 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.
• Zoned schools: North High (math 10% / reading 28%, grade F, #313 of 343 statewide, top 92%, 1,377 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.5%/yr); 19 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $8,313/mo this rent would consume 108% of the median local household income ($92k/yr) (locally 634% 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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $166k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($585k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $152k; list at $594k implies a 291% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — 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 $585,090 (1.5% below list)

Questions for the listing agent

1. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.40% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.88
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $692,384
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 Locust Ave	0.14mi	4/3.0	2,448 (-1%)	9mo	$615,000	$251	81
176 Coburn Ave	0.07mi	5/3.0 (+1)	2,628 (+7%)	14mo	$738,000	$281	65
15 Superior Rd	0.63mi	4/2.0	2,236 (-9%)	14mo	$560,000	$250	44
28-30 Villa Rd	0.71mi	5/2.5 (+1)	2,249 (-9%)	11mo	$720,000	$320	36

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 · 4.46% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.55×
• Total profit: $91,639
• Equity at exit: $88,567

10-year hold

• IRR: 23.4%
• Equity multiple: 3.15×
• Total profit: $358,008
• Equity at exit: $51,358

Cash invested: $166,320 (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 01606

• Rents YoY: 4.5%
• Active inventory: 19
• Price-to-rent: 23.8×

Monthly cashflow live

• Estimated rent: $8,313 high
• Mortgage (P&I): −$3,115
• Tax from tax record: −$448 /mo · $5,380/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,746
• Net cashflow: $2,756

Break-even live

Break-even rent $4,824

Max offer price $594,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,312
Total (4 units)			$8,313

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: $148,500
• Closing costs: $17,820
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Plantation St Apt 3 Worcester, MA	3.0	1.0	1600	$2,000	$1.25	23d	1	0.57mi
67 N Quinsigamond Ave #9 Shrewsbury, MA	3.0	2.5	1620	$3,500	$2.16	43d	1	0.96mi
8 Ellsmere St Unit a Worcester, MA	3.0	2.0	1600	$2,400	$1.50	43d	1	1.02mi
21 Creston St Unit A Worcester, MA	3.0	1.5	2030	$2,800	$1.38	14d	1	1.04mi
80 Delmont Ave Unit 2 Worcester, MA	5.0	2.0	2000	$3,000	$1.50	43d	1	1.05mi
59 Olympia Ave Unit 4A Shrewsbury, MA	3.0	2.5	1823	$4,000	$2.19	14d	1	1.09mi
249 Shrewsbury St Unit 3 Worcester, MA	3.0	1.0	1700	$1,975	$1.16	23d	1	1.11mi

Listing history 17 events

1. 2026-06-18
   days on market $594,000 Active 22 DOM
2. 2026-06-17
   days on market $594,000 Active 21 DOM
3. 2026-06-16
   days on market $594,000 Active 20 DOM
4. 2026-06-15
   statusdays on market $594,000 Active 19 DOM
5. 2026-06-14
   pricestatusdays on market $594,000 Price Changed 17 DOM
6. 2026-06-10
   days on market $599,000 Active 14 DOM
7. 2026-06-09
   days on market $599,000 Active 13 DOM
8. 2026-06-08
   days on market $599,000 Active 12 DOM
9. 2026-06-07
   days on market $599,000 Active 11 DOM
10. 2026-06-05
    days on market $599,000 Active 8 DOM
11. 2026-06-03
    days on market $599,000 Active 7 DOM
12. 2026-06-02
    days on market $599,000 Active 6 DOM
13. 2026-06-01
    days on market $599,000 Active 5 DOM
14. 2026-05-31
    statusdays on market $599,000 Active 4 DOM
15. 2026-05-31
    days on market $599,000 New 3 DOM
16. 2026-05-27
    listed $599,000 New
17. 2010-03-29
    soldstatus $152,025

ⓘ 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: $5,380 · $448/mo
• Projected year-2 tax: $6,343 · $529/mo
• Expected delta: +$963/yr (+$80/mo · 17.9%)

ⓘ 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 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: $99,756
• − Mortgage interest: −$33,273
• − Property taxes: −$5,380
• − Insurance: −$2,970
• − Repairs & maintenance: −$7,980
• − Management: −$7,980
• − Depreciation: −$17,280
• Taxable income: $24,892
• Est. tax owed @ 24.0%: −$5,974
• After-tax cash flow: $27,103/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): 22,844
• Household income: $92,105
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 634.0

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 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 14% Two or more races 12% Black 9% Asian 5%
• Hispanic origin (detail): Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 7% Lithuanian 6% Estonian 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 76% English-only · Spanish 10% Other Indo-European 4% 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: ▼ -240.84%
• Current HPI: 295.2937
• Rent YoY: ▲ 4.46%
• 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

+294.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $599,000 MLS PIN
• 2010-03-29 Sold (Public Records) $152,025 Public Records

Property tax history

+3.9%/yr

Latest (2023): $5,380 · +2.8% YoY. Source: county tax records.