16 Bellevue St · Worcester, MA 01609

$639,999

6 bd · 3.0 ba · 2,760 sqft · MultiFamily public records · 28 Days on market

Built 1890 4,079 sqft lot Est $588k · 9% 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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +5.9/10.0
• Livability +4.4/5.0
• ARV discount +3.5/15.0
• Rent growth +3.3/5.0
• 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 MLS

NICE CLEAN 3 FAMILY MANY UPDATES-CENTRAL HEAT 1ST AND 2ND 100 AMP CB

Key facts

• Updated units
• Ample yard space
• Vinyl plank flooring

Tags

• UPDATED UNITS
• VINYL PLANK FLOORING
• AMPLE YARD SPACE

Property features AI

Finance

• Financial info: $7,128 annual tax (2025)
• HOA & community: Not a senior community

Exterior

• Parking: Open parking available
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: 3-family property; 3 stories; 3 levels
• Construction: Frame construction; Stone and brick/mortar foundation; Built (public records)
• Exterior features: Shingle roof; Level lot; Public road frontage

Interior

• Kitchen: Range; Refrigerator
• Flooring: Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Steam heating; Has heating
• Interior features: 15 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $640k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $640k).
• Recommended offer: $630k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 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 (+3.4%/yr); 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $7,005/mo this rent would consume 123% of the median local household income ($68k/yr) (locally 1183% 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 $19k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($630k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 32y 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 $185k; list at $640k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $630,399 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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: 1.09% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $587,880
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
93 Austin St	0.42mi	6/3.0	2,826 (+2%)	5mo	$350,000	$124	73
12 Westfield St	0.58mi	6/3.0	2,791 (+1%)	3mo	$400,000	$143	68
7 Pleasant Ter	0.11mi	6/3.0	2,574 (-7%)	22mo	$610,000	$237	66
10 Hollywood St	0.31mi	6/4.0	2,647 (-4%)	12mo	$565,000	$213	65
36 May St	0.46mi	6/3.5	3,085 (+12%)	10mo	$585,000	$190	49
24 Bowdoin St	0.69mi	5/3.0 (-1)	2,784 (+1%)	20mo	$571,000	$205	45
19 Highland Ter	0.71mi	7/2.5 (+1)	2,369 (-14%)	3mo	$615,000	$260	34
18 Bowdoin St	0.70mi	7/2.0 (+1)	2,421 (-12%)	11mo	$600,000	$248	29

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-13,056
• Equity at exit: $95,426

10-year hold

• IRR: 8.1%
• Equity multiple: 1.63×
• Total profit: $112,846
• Equity at exit: $55,335

Cash invested: $179,200 (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 01609

• Home prices YoY: -15.9%
• Rents YoY: 3.4%
• Active inventory: 44
• Price-to-rent: 22.8×

Monthly cashflow live

• Estimated rent: $7,005 high
• Mortgage (P&I): −$3,356
• Tax from tax record: −$529 /mo · $6,348/yr
• Insurance: −$267
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,471
• Net cashflow: $1,382

Break-even live

Break-even rent $5,256

Max offer price $639,999

Occupancy floor 75%

Sensitivity live

Price	-10% $1,744	-5% $1,563	+0% $1,382	+5% $1,201	+10% $1,020
Rent	-10% $829	-5% $1,105	+0% $1,382	+5% $1,659	+10% $1,935
Rate	-1.0pp $1,704	-0.5pp $1,545	base $1,382	+0.5pp $1,216	+1.0pp $1,048

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,005
Total (3 units)			$7,005

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: $160,000
• Closing costs: $19,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Sever St Worcester, MA	5.0	2.0	2200	$4,500	$2.05	44d	1	0.46mi

Listing history 22 events

1. 2026-06-18
   days on market $639,999 Active 28 DOM
2. 2026-06-17
   days on market $639,999 Active 27 DOM
3. 2026-06-16
   days on market $639,999 Active 26 DOM
4. 2026-06-15
   days on market $639,999 Active 25 DOM
5. 2026-06-14
   days on market $639,999 Active 23 DOM
6. 2026-06-10
   days on market $639,999 Active 20 DOM
7. 2026-06-09
   days on market $639,999 Active 19 DOM
8. 2026-06-08
   days on market $639,999 Active 18 DOM
9. 2026-06-07
   days on market $639,999 Active 17 DOM
10. 2026-06-05
    days on market $639,999 Active 14 DOM
11. 2026-06-03
    days on market $639,999 Active 13 DOM
12. 2026-06-02
    days on market $639,999 Active 12 DOM
13. 2026-06-01
    days on market $639,999 Active 11 DOM
14. 2026-05-31
    days on market $639,999 Active 10 DOM
15. 2026-05-31
    days on market $639,999 Active 9 DOM
16. 2026-05-21
    listed $639,999 New
17. 2003-01-07
    soldstatus $185,000
18. 2002-07-16
    soldstatus $105,000
19. 1994-08-02
    soldstatus $33,000 68-char remark

    Show marketing remark (68 chars)

    NICE CLEAN 3 FAMILY MANY UPDATES-CENTRAL HEAT 1ST AND 2ND 100 AMP CB

20. 1994-06-03
    listed $49,900 68-char remark

    Show marketing remark (68 chars)

    NICE CLEAN 3 FAMILY MANY UPDATES-CENTRAL HEAT 1ST AND 2ND 100 AMP CB

21. 1994-05-03
    soldstatus $70,000
22. 1987-05-20
    soldstatus $133,000

ⓘ 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: $6,348 · $529/mo
• Projected year-2 tax: $7,110 · $592/mo
• Expected delta: +$762/yr (+$63/mo · 12.0%)

ⓘ 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 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: $84,060
• − Mortgage interest: −$35,850
• − Property taxes: −$6,348
• − Insurance: −$3,200
• − Repairs & maintenance: −$6,725
• − Management: −$6,725
• − Depreciation: −$18,618
• Taxable income: $6,594
• Est. tax owed @ 24.0%: −$1,583
• After-tax cash flow: $15,002/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): 22,047
• Household income: $68,381
• Rent vs Own: 59.9% rent · 40.1% own
• Severe rent burden: 1183.0

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 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 18% Two or more races 11% Asian 10% Black 7%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 7% Romanian 4% Estonian 1%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 66% English-only · Spanish 15% Other Indo-European 8% 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: ▼ -51.84%
• Current HPI: 274.8097
• Rent YoY: ▲ 3.38%
• 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

+381.2% since first listed

7 events — show timeline

• 2026-05-21 Listed $639,999 MLS PIN
• 2003-01-07 Sold (Public Records) $185,000 Public Records
• 2002-07-16 Sold (Public Records) $105,000 Public Records
• 1994-08-02 Sold (MLS) $33,000 MLS PIN
• 1994-06-03 Listed $49,900 MLS PIN
• 1994-05-03 Sold (Public Records) $70,000 Public Records
• 1987-05-20 Sold (Public Records) $133,000 Public Records

Property tax history

+7.9%/yr

Latest (2023): $6,348 · +10.7% YoY. Source: county tax records.