8 Douglas St · Worcester, MA 01603

$715,000

9 bd · 3.0 ba · 4,131 sqft · MultiFamily public records · 8 Days on market

Built 1900 3,010 sqft lot Est $822k · 13% under

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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 +23.0/30.0
• ARV discount +13.4/15.0
• DSCR +7.4/10.0
• 1% rule +5.4/10.0
• Livability +4.4/5.0
• Rent growth +3.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Amazing opportunity to own this 3 Family as an owner occupant or investment for cashflow. All 3 Units offer the same layout featuring 3 Beds, 1 Bath, Living Room, Eat-In Kitchen. Washer & Dryer Hookups in all units. ALL UNITS ARE VACANT. Property needs TLC. Updated Siding, Electrical, Parlor heater for all 3 Units. 1 off street parking. Quaint fenced in yard. Short Distance to Polar Park & Easy access to I-290, I-90, Rt 9, 146, and various other amenities. Won't last long, priced to sell.

Key facts

• Newer roof
• Recently renovated
• 3,010 sq ft lot

Tags

• RECENTLY RENOVATED
• PRIME WORCESTER LOCATION
• IN-UNIT WASHER DRYER HOOKUPS
• NEWER ROOF
• UPDATED VINYL FLOORING
• PROXIMITY TO SHOPPING

Property features AI

Finance

• HOA & community: No senior community; Community amenities near public transportation, shopping, parks, medical facility, laundromat, highway access, house of worship, university, sidewalks

Exterior

• Parking: Paved off-street parking; 1 open parking space (total 1 parking space)
• Utilities: Public water; Public sewer; Circuit breaker electric; Individually metered electric (varies per unit); Gas available for range and oven (varies per unit)
• Home design: 3-family property; 3 stories total; 3 total levels
• Construction: Frame construction; Stone and brick/mortar foundation; Shingle roof; Built (per public records)
• Exterior features: Fenced / enclosed yard; Enclosed patio/porch; Shed(s); Corner lot; Paved road frontage (public, publicly maintained)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Unit 1: 1 level; Unit 2: 1 level; Unit 3: 1 level
• Flooring: Tile; Vinyl; Hardwood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Has heating; Electric heating; Steam heating; Natural gas heating
• Interior features: 15 total rooms; Rain gutters
• Laundry & utility: Washer and dryer included; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $715k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $423/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $715k).
• Cap rate 8.4% 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: schools C-, 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.
• Market conditions: Rents rising fast (+4.2%/yr); 17 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $7,422/mo this rent would consume 135% of the median local household income ($66k/yr) (locally 1247% 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 $21k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $600k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $715,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $822,069
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Douglas Ct	0.05mi	9/3.0	3,753 (-9%)	5mo	$700,000	$187	78
7 Wyman St	0.42mi	9/3.0	4,161 (+1%)	9mo	$955,000	$230	71
27-29 Camp St	0.11mi	9/3.5	4,642 (+12%)	8mo	$940,000	$202	66
180 Canterbury St	0.22mi	9/3.0	3,610 (-13%)	6mo	$795,000	$220	64
69 Hollis St	0.30mi	9/3.0	3,723 (-10%)	7mo	$880,000	$236	64
5 Mount Pleasant St	0.61mi	9/3.0	4,266 (+3%)	5mo	$770,000	$180	62
19 Woodbine St	0.73mi	9/3.0	4,399 (+6%)	1mo	$799,900	$182	54
27 Wyman St	0.34mi	9/3.0	3,530 (-14%)	8mo	$720,000	$204	54
37 Benefit St	0.63mi	9/3.0	3,611 (-13%)	0mo	$665,000	$184	50
141 Cambridge St	0.52mi	9/3.0	4,716 (+14%)	6mo	$794,000	$168	47
10 Lucian St	0.74mi	9/4.0	4,512 (+9%)	1mo	$900,000	$199	45
21 Hitchcock Rd	0.63mi	8/3.0 (-1)	4,578 (+11%)	6mo	$620,000	$135	43

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-26,170
• Equity at exit: $106,609

10-year hold

• IRR: 7.5%
• Equity multiple: 1.59×
• Total profit: $118,414
• Equity at exit: $61,820

Cash invested: $200,200 (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 01603

• Home prices YoY: -32.5%
• Rents YoY: 4.2%
• Active inventory: 17
• Price-to-rent: 24.1×

Monthly cashflow live

• Estimated rent: $7,422 high
• Mortgage (P&I): −$3,750
• Tax from tax record: −$546 /mo · $6,553/yr
• Insurance: −$298
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,559
• Net cashflow: $1,270

Break-even live

Break-even rent $5,815

Max offer price $715,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,422
Total (3 units)			$7,422

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: $178,750
• Closing costs: $21,450
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $715,000 Active 8 DOM
2. 2026-06-17
   days on market $715,000 Active 7 DOM
3. 2026-06-16
   days on market $715,000 Active 6 DOM
4. 2026-06-15
   statusdays on market $715,000 Active 5 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $715,000 New 3 DOM

ⓘ 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: $6,553 · $546/mo
• Projected year-2 tax: $7,674 · $639/mo
• Expected delta: +$1,121/yr (+$93/mo · 17.1%)

ⓘ 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 ≥93°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: $89,064
• − Mortgage interest: −$40,051
• − Property taxes: −$6,553
• − Insurance: −$3,575
• − Repairs & maintenance: −$7,125
• − Management: −$7,125
• − Depreciation: −$20,800
• Taxable income: $3,835
• Est. tax owed @ 24.0%: −$920
• After-tax cash flow: $14,318/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): 20,868
• Household income: $66,049
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1247.0

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 0.69)
• Race & ethnicity: White 45% Hispanic / Latino 27% Two or more races 16% Asian 12% Black 11% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 6% Romanian 3% Russian 1%
• Foreign-born: 25% · Canada, Vietnam, South Korea
• Languages at home: 56% English-only · Spanish 22% Vietnamese 6% Other Indo-European 6%

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: ▼ -156.46%
• Current HPI: 324.9678
• Rent YoY: ▲ 4.18%
• 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

+21.2% since first listed

4 events — show timeline

• 2026-06-10 Listed $715,000 MLS PIN
• 2023-08-28 Sold (MLS) $600,000 MLS PIN
• 2023-08-01 Listing Removed — MLS PIN
• 2023-08-01 Listed $589,900 MLS PIN

Property tax history

+5.8%/yr

Latest (2023): $6,553 · +14.6% YoY. Source: county tax records.