19 Washington St · Leominster, MA 01453

$680,000

5 bd · 3.0 ba · 3,130 sqft · MultiFamily public records · 34 Days on market

Built 1909 0.31 ac lot $217/sqft · 7% above area Est $636k · 7% 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +6.9/10.0
• ARV discount +4.4/15.0
• Rent growth +3.7/5.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Fully rented, well-maintained 3-family offering strong income potential. Each unit features separate utilities and efficient gas heat. The 1st-floor, previously owner-occupied unit includes 2 bedrooms, kitchen, living, office, full bath, and washer/dryer hookups. The 2nd-floor unit offers 1 bedroom, living room, kitchen, and bath. The 3rd unit spans two levels with 2 bedrooms, living, kitchen, bath, plus common-area washer/dryer hookups. Recent updates include repointing, foundation improvements, and remodeled apartments, reducing future maintenance concerns. Off-street parking adds convenience. Located near downtown with easy access to restaurants, coffee shops, library, commuter rail, and

Key facts

• Efficient gas heat
• Separate utilities
• Remodeled apartments

Tags

• STRONG INCOME POTENTIAL
• SEPARATE UTILITIES
• EFFICIENT GAS HEAT
• REPOINTING
• FOUNDATION IMPROVEMENTS
• REMODELED APARTMENTS

Property features AI

Finance

• Financial info: Active listing
• HOA & community: Sidewalks

Exterior

• Parking: Paved off-street parking; Open parking for 10 vehicles
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: 3-family property; 3 stories; Above-grade finished area approximately 3,130
• Construction: Frame construction; Block, brick/mortar and granite foundation; Approximate year built (public records)
• Exterior features: Shingle roof; Porch; Rain gutters; Cleared, level lot; Paved road access; Publicly maintained road

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Natural gas; Steam heating
• Interior features: Ceiling fans; Living room; Kitchen; Mudroom; Office/Den; Total of 13 rooms
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $680k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $670/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $680k).
• Recommended offer: $660k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.2% in Leominster — 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 69/100 on livability (#139 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: schools C-, commute D+, cost of living D+.
• Leominster (suburban): math 25% / reading 38% proficiency, ranked #247 of 302 in MA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.8%/yr); 56 active listings in the ZIP; solid renter incomes; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $8,113/mo this rent would consume 115% of the median local household income ($84k/yr) (locally 1633% 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 $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $190k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $680k implies a 1689% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — 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 $659,600 (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 1909 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.19% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.67%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $635,898
• List price: $680,000
• Delta: 6.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 West St	0.07mi	6/3.0 (+1)	3,085 (-1%)	6mo	$565,000	$183	85
9 Arlington St	0.09mi	5/3.0	3,158 (+1%)	15mo	$600,000	$190	82
64 West St	0.14mi	6/3.0 (+1)	3,240 (+4%)	6mo	$700,000	$216	78
12 Washington St	0.04mi	6/3.0 (+1)	3,314 (+6%)	9mo	$800,000	$241	76
18 - 20 Haynes Ct	0.39mi	5/3.0	2,850 (-9%)	4mo	$565,000	$198	63
242-244 West St	0.40mi	6/2.5 (+1)	3,032 (-3%)	11mo	$527,500	$174	60
181 West St	0.24mi	5/3.0	3,504 (+12%)	11mo	$470,000	$134	60
39 Walnut St	0.39mi	5/2.0	3,194 (+2%)	21mo	$650,000	$204	57
19 Walnut St	0.43mi	5/4.0	3,495 (+12%)	4mo	$270,000	$77	53
23 High St	0.46mi	5/3.0	2,709 (-14%)	8mo	$617,000	$228	50
114 Mechanic St	0.62mi	5/4.0	3,465 (+11%)	15mo	$620,000	$179	37
94 Central St	0.55mi	6/4.5 (+1)	2,868 (-8%)	17mo	$570,000	$199	35

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 · 4.83% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $32,947
• Equity at exit: $101,390

10-year hold

• IRR: 15.4%
• Equity multiple: 2.36×
• Total profit: $258,038
• Equity at exit: $58,794

Cash invested: $190,400 (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 01453

• Rents YoY: 4.8%
• Active inventory: 56
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $8,113 medium
• Mortgage (P&I): −$3,566
• Tax from tax record: −$550 /mo · $6,605/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,704
• Net cashflow: $2,010

Break-even live

Break-even rent $5,569

Max offer price $680,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$8,112
Total (3 units)			$8,113

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: $170,000
• Closing costs: $20,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $680,000 Active 34 DOM
2. 2026-06-17
   days on market $680,000 Active 33 DOM
3. 2026-06-16
   days on market $680,000 Active 32 DOM
4. 2026-06-15
   days on market $680,000 Active 31 DOM
5. 2026-06-14
   days on market $680,000 Active 29 DOM
6. 2026-06-13
   days on market $680,000 Active 28 DOM
7. 2026-06-10
   days on market $680,000 Active 26 DOM
8. 2026-06-09
   days on market $680,000 Active 25 DOM
9. 2026-06-08
   days on market $680,000 Active 24 DOM
10. 2026-06-07
    days on market $680,000 Active 23 DOM
11. 2026-06-05
    days on market $680,000 Active 20 DOM
12. 2026-06-03
    days on market $680,000 Active 19 DOM
13. 2026-06-02
    days on market $680,000 Active 18 DOM
14. 2026-06-01
    days on market $680,000 Active 17 DOM
15. 2026-05-31
    days on market $680,000 Active 16 DOM
16. 2026-05-31
    days on market $680,000 Active 15 DOM
17. 2026-05-15
    listed $680,000 New 796-char remark
18. 1978-11-01
    soldstatus $38,000

ⓘ 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: $6,605 · $550/mo
• Projected year-2 tax: $7,484 · $624/mo
• Expected delta: +$880/yr (+$73/mo · 13.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $97,356
• − Mortgage interest: −$38,091
• − Property taxes: −$6,605
• − Insurance: −$3,400
• − Repairs & maintenance: −$7,788
• − Management: −$7,788
• − Depreciation: −$19,782
• Taxable income: $13,902
• Est. tax owed @ 24.0%: −$3,336
• After-tax cash flow: $20,778/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: Leominster
• NCES district ID: 2506780
• Math proficiency: 25% ▼ -23.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $57,041
• Composite: 28.07/100
• National rank: #6836
• State rank: #247 of 302 in MA

Livability — Leominster

• Score: 69/100
• State rank: #139
• US rank: #8562

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leominster, MA
• County: Worcester County · 487,911 people
• City population: 43,851
• Metro: Worcester, MA-CT
• Population (ZIP): 43,851
• Household income: $84,296
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1633.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Two or more races 12% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Dominican 1%
• Common ancestry: Lithuanian 9% Estonian 2% Romanian 2%
• Foreign-born: 15% · Canada, South Korea, Jamaica
• Languages at home: 76% English-only · Spanish 13% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -621.70%
• Current HPI: 296.2863
• Rent YoY: ▲ 4.83%
• 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

+1689.5% since first listed

2 events — show timeline

• 2026-05-15 Listed $680,000 MLS PIN
• 1978-11-01 Sold (Public Records) $38,000 Public Records

Property tax history

+3.9%/yr

Latest (2023): $6,605 · +8.7% YoY. Source: county tax records.