112 School · Clinton, MA 01510

$1,700,000

30 bd · 8.0 ba · 10,990 sqft · MultiFamily public records · 38 Days on market

Built 1875 5,212 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 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

112 School Street is a huge 10,990 ± SF brick apartment building with eight (8) residential units. The mix includes two (2) 3-bedroom units and six (6) 4-bedroom units. Fully occupied with existing cash flow and upside potential. The property is well-located within walking distance to the downtown Clinton historic district with shopping, dining, and entertainment options on High Street. FOR ADDITIONAL INFORMATION PLEASE SEE FIRM REMARKS

Key facts

• Historic district
• 5,212 sq ft lot
• Built 1875

Tags

• BRICK APARTMENT BUILDING
• WALKING DISTANCE TO DOWNTOWN
• HISTORIC DISTRICT

What this means for you Summary

Snapshot

• This is a 10 × 3-bed/?-bath units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $8k ($101k/yr) — positive. Per door: $843/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.70M).
• Recommended offer: $1.65M (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.5% in Clinton — 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 72/100 on livability (#121 in MA) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A; Watch: cost of living D+, schools D-, amenities D-.
• Clinton (suburban): math 20% / reading 37% proficiency, ranked #254 of 302 in MA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.4%/yr); 36 active listings in the ZIP; solid renter incomes; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $24,177/mo this rent would consume 323% of the median local household income ($90k/yr) (locally 424% 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 $12k of loan paydown is wiped out by about $51k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $476k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($1.65M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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 $284k; list at $1.70M implies a 499% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 8→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,649,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1875 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.42% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.26%
• DSCR: 1.95
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.36% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.47×
• Total profit: $222,138
• Equity at exit: $253,476

10-year hold

• IRR: 19.7%
• Equity multiple: 2.53×
• Total profit: $728,045
• Equity at exit: $146,985

Cash invested: $476,000 (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 01510

• Home prices YoY: -23.5%
• Rents YoY: 1.4%
• Active inventory: 36
• Price-to-rent: 58.6×

Monthly cashflow live

• Estimated rent: $24,177 high
• Mortgage (P&I): −$8,915
• Tax from tax record: −$1,042 /mo · $12,510/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,077
• Net cashflow: $8,434

Break-even live

Break-even rent $13,501

Max offer price $1,700,000

Occupancy floor 60%

Sensitivity live

Price	-10% $9,396	-5% $8,915	+0% $8,434	+5% $7,953	+10% $7,472
Rent	-10% $6,524	-5% $7,479	+0% $8,434	+5% $9,389	+10% $10,344
Rate	-1.0pp $9,290	-0.5pp $8,866	base $8,434	+0.5pp $7,993	+1.0pp $7,545

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

Units	Beds	Baths	Est. rent
▸ 10× units	3	—	$24,180
Total (10 units)			$24,177

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: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $1,700,000 Active 38 DOM
2. 2026-06-17
   days on market $1,700,000 Active 37 DOM
3. 2026-06-16
   days on market $1,700,000 Active 36 DOM
4. 2026-06-15
   days on market $1,700,000 Active 35 DOM
5. 2026-06-14
   days on market $1,700,000 Active 33 DOM
6. 2026-06-10
   days on market $1,700,000 Active 30 DOM
7. 2026-06-09
   days on market $1,700,000 Active 29 DOM
8. 2026-06-08
   days on market $1,700,000 Active 28 DOM
9. 2026-06-07
   days on market $1,700,000 Active 27 DOM
10. 2026-06-05
    days on market $1,700,000 Active 24 DOM
11. 2026-06-03
    days on market $1,700,000 Active 23 DOM
12. 2026-06-02
    days on market $1,700,000 Active 22 DOM
13. 2026-06-01
    days on market $1,700,000 Active 21 DOM
14. 2026-05-31
    days on market $1,700,000 Active 20 DOM
15. 2026-05-31
    days on market $1,700,000 Active 19 DOM
16. 2026-05-11
    listed $1,700,000 New 452-char remark

    Show marketing remark (452 chars)

    112 School Street is a huge 10,990 ± SF brick apartment building with eight (8) residential units. The mix includes two (2) 3-bedroom units and six (6) 4-bedroom units. Fully occupied with existing cash flow and upside potential. The property is well-located within walking distance to the downtown Clinton historic district with shopping, dining, and entertainment options on High Street. FOR ADDITIONAL INFORMATION PLEASE SEE FIRM REMARKS

17. 1998-10-09
    soldstatus $284,000
18. 1998-10-06
    soldstatus $284,000 235-char remark

    Show marketing remark (235 chars)

    WONDERFULLY MAINTAINED 8 UNIT BUILDING. EACH APT. HAS LARGE ROOMS, HARDWOOD FLOORS, TILE BATHS. MOST WITH PANTRIES AND FRENCH DOOR D.R. AND FIREPLACE L.R. A TERRIFIC INVESTMENT OPPORTUNITY. AT LEAST 24 HR. NOTICE TO SHOW. ALL OCCUPIED.

19. 1998-06-10
    listed $289,000 235-char remark

    Show marketing remark (235 chars)

    WONDERFULLY MAINTAINED 8 UNIT BUILDING. EACH APT. HAS LARGE ROOMS, HARDWOOD FLOORS, TILE BATHS. MOST WITH PANTRIES AND FRENCH DOOR D.R. AND FIREPLACE L.R. A TERRIFIC INVESTMENT OPPORTUNITY. AT LEAST 24 HR. NOTICE TO SHOW. ALL OCCUPIED.

20. 1998-06-10
    historical 235-char remark

    Show marketing remark (235 chars)

    WONDERFULLY MAINTAINED 8 UNIT BUILDING. EACH APT. HAS LARGE ROOMS, HARDWOOD FLOORS, TILE BATHS. MOST WITH PANTRIES AND FRENCH DOOR D.R. AND FIREPLACE L.R. A TERRIFIC INVESTMENT OPPORTUNITY. AT LEAST 24 HR. NOTICE TO SHOW. ALL OCCUPIED.

ⓘ 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: $12,510 · $1,042/mo
• Projected year-2 tax: $16,710 · $1,392/mo
• Expected delta: +$4,200/yr (+$350/mo · 33.6%)

ⓘ 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 8 d/yr ≥95°F today · 18 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: $290,124
• − Mortgage interest: −$95,226
• − Property taxes: −$12,510
• − Insurance: −$8,500
• − Repairs & maintenance: −$23,210
• − Management: −$23,210
• − Depreciation: −$49,455
• Taxable income: $78,013
• Est. tax owed @ 24.0%: −$18,723
• After-tax cash flow: $82,485/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: Clinton
• NCES district ID: 2503750
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $61,863
• Composite: 26.03/100
• National rank: #7307
• State rank: #254 of 302 in MA

Livability — Clinton

• Score: 72/100
• State rank: #121
• US rank: #6457

Category grades

Amenities D- Commute F 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: Clinton, MA
• County: Worcester County · 487,911 people
• City population: 15,563
• Metro: Worcester, MA-CT
• Population (ZIP): 15,563
• Household income: $89,781
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 424.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Dominican 4%
• Common ancestry: Romanian 5% Russian 4% Lithuanian 4%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 6% Chinese 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: ▼ -79.46%
• Current HPI: 259.191
• Rent YoY: ▲ 1.36%
• 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

+488.2% since first listed

5 events — show timeline

• 2026-05-11 Listed $1,700,000 MLS PIN
• 1998-10-09 Sold (Public Records) $284,000 Public Records
• 1998-10-06 Sold (MLS) $284,000 MLS PIN
• 1998-06-10 Listing Removed — MLS PIN
• 1998-06-10 Listed $289,000 MLS PIN

Property tax history

+4.4%/yr

Latest (2023): $12,510 · +18.1% YoY. Source: county tax records.