17 Wallace Pl · Pittsfield, MA 01201

$239,900

4 bd · 2.0 ba · 1,928 sqft · MultiFamily public records · 66 Days on market

Built 1880 3,585 sqft lot Est $243k · at est.

---

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 +8.8/10.0
• ARV discount +8.1/15.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

Key facts

• Laminated flooring
• Two-family home
• Brand-new kitchens

Tags

• TWO-FAMILY HOME
• BRAND-NEW KITCHENS
• UPDATED HEATING SYSTEMS
• LAMINATED FLOORING
• FULLY SEPARATED UTILITIES
• LOW-MAINTENANCE PROPERTY

Property features AI

Finance

• Other: Lot frontage on a public road; Lot size approximately 0.08 acre
• HOA & community: Not a senior community

Exterior

• Parking: 2 off-street parking spaces (open)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: 2-family up/down configuration; 2 stories
• Construction: Built approximately (year from public records); Conventional (2x4–2x6) construction; Stone foundation; Shingle roof; Brown exterior color
• Exterior features: Fenced/enclosed yard; Porch

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump provides heating; Heat pump provides cooling
• Interior features: Total of 10 rooms; Two rental units (both currently leased)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $557/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.6% in Pittsfield — 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 75/100 on livability (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, schools D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.7%/yr); 278 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $3,303/mo this rent would consume 56% of the median local household income ($71k/yr) (locally 1580% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Berkshire County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $67k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $90k; list at $240k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.38% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $242,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5-7 Wallace Pl	0.03mi	4/2.0	1,964 (+2%)	12mo	$250,000	$127	85
70-72 Elm St	0.55mi	4/2.0	1,780 (-8%)	4mo	$282,710	$159	58
171 Francis Ave	0.48mi	4/2.0	2,045 (+6%)	11mo	$100,000	$49	58
36 Division St	0.61mi	4/2.0	1,832 (-5%)	10mo	$250,000	$136	55
500 Fenn St	0.29mi	4/3.0	2,208 (+14%)	5mo	$285,000	$129	54
92 W Housatonic St	0.73mi	3/2.0 (-1)	1,872 (-3%)	8mo	$235,000	$126	50
39 Circular Ave	0.64mi	4/2.0	1,728 (-10%)	6mo	$209,900	$121	48
114 Danforth Ave	0.72mi	5/2.0 (+1)	1,828 (-5%)	6mo	$289,900	$159	48
509 Tyler St	0.61mi	4/2.0	1,701 (-12%)	13mo	$185,000	$109	42
217-219 Bradford St	0.50mi	5/2.0 (+1)	2,160 (+12%)	12mo	$233,200	$108	41
308-310 West St	0.72mi	4/3.0	1,802 (-6%)	13mo	$128,625	$71	41
790 North St	0.66mi	4/2.0	2,186 (+13%)	13mo	$270,000	$124	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 · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.72×
• Total profit: $48,503
• Equity at exit: $35,770

10-year hold

• IRR: 28.5%
• Equity multiple: 4.09×
• Total profit: $207,799
• Equity at exit: $20,742

Cash invested: $67,172 (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 01201

• Rents YoY: 7.7%
• Active inventory: 278
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $3,303 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$694
• Net cashflow: $1,115

Break-even live

Break-even rent $1,892

Max offer price $239,900

Occupancy floor 61%

Sensitivity live

Price	-10% $1,250	-5% $1,183	+0% $1,115	+5% $1,047	+10% $979
Rent	-10% $854	-5% $984	+0% $1,115	+5% $1,245	+10% $1,376
Rate	-1.0pp $1,235	-0.5pp $1,176	base $1,115	+0.5pp $1,053	+1.0pp $989

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,304
Total (2 units)			$3,303

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Lincoln St Unit 117 Pittsfield, MA	4.0	2.0	1500	$2,000	$1.33	44d	1	0.34mi
76 Stoddard Ave Unit 78 Pittsfield, MA	4.0	1.5	1560	$2,000	$1.28	44d	1	0.59mi
88 Wahconah St Pittsfield, MA	4.0	1.5	1292	$2,300	$1.78	44d	1	0.73mi
19 Atwood Ave Pittsfield, MA	3.0	1.0	1350	$1,600	$1.19	44d	1	0.81mi

Listing history 33 events

1. 2026-06-21
   days on market $239,900 Active 66 DOM
2. 2026-06-19
   days on market $239,900 Active 64 DOM
3. 2026-06-18
   days on market $239,900 Active 63 DOM
4. 2026-06-17
   days on market $239,900 Active 62 DOM
5. 2026-06-16
   days on market $239,900 Active 61 DOM
6. 2026-06-15
   days on market $239,900 Active 60 DOM
7. 2026-06-14
   days on market $239,900 Active 58 DOM
8. 2026-06-12
   days on market $239,900 Active 57 DOM
9. 2026-06-09
   days on market $239,900 Active 54 DOM
10. 2026-06-08
    days on market $239,900 Active 53 DOM
11. 2026-06-07
    days on market $239,900 Active 52 DOM
12. 2026-06-05
    days on market $239,900 Active 49 DOM
13. 2026-06-02
    days on market $239,900 Active 47 DOM
14. 2026-06-01
    statusdays on market $239,900 Active 46 DOM
15. 2026-05-31
    days on market $239,900 Extended 45 DOM
16. 2026-05-30
    days on market $239,900 Extended 44 DOM
17. 2026-05-22
    status Back On Market
18. 2026-05-21
    status Active 452-char remark

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

19. 2026-05-21
    price $249,900 452-char remark

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

20. 2026-01-22
    historical
21. 2025-12-23
    status Back On Market

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

22. 2025-12-23
    status Active 452-char remark

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

23. 2025-12-13
    status Pending 452-char remark

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

24. 2025-12-13
    historical 452-char remark

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

25. 2025-12-12
    status Under Agreement
26. 2025-12-07
    listed $239,900 New

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

27. 2025-12-07
    listed $239,900 Active 452-char remark

    Show marketing remark (452 chars)

    Recently renovated two-family home offering true turnkey convenience! Both units feature brand-new kitchens and bathrooms, updated heating systems, and stylish laminated flooring throughout. With all utilities fully separated, this low-maintenance property is ideal for investors seeking a hassle-free addition to their portfolio. Whether you're expanding your investments or starting fresh, this well-updated, income-ready property is the perfect fit.

28. 2007-10-24
    soldstatus $90,000
29. 2007-05-16
    historical
30. 2007-03-22
    listed $105,000
31. 2006-04-14
    soldstatus $70,000
32. 1994-06-14
    soldstatus $78,720
33. 1990-10-25
    soldstatus $63,500

ⓘ 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: $1,640 · $137/mo
• Projected year-2 tax: $2,295 · $191/mo
• Expected delta: +$655/yr (+$55/mo · 40.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $39,636
• − Mortgage interest: −$13,438
• − Property taxes: −$1,640
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,171
• − Management: −$3,171
• − Depreciation: −$6,979
• Taxable income: $10,038
• Est. tax owed @ 24.0%: −$2,409
• After-tax cash flow: $10,967/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

Population outlook (Berkshire County) Hauer SSP2

• Today (2025): 119,723 people
• By 2030: 114,608 · -4.3%
• By 2040: 102,806 · -14.1%
• By 2050: 91,305 · -23.7%
• By 2075: 71,517 · -40.3%
• By 2100: 57,988 · -51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Berkshire

• 2024 margin: Solid D (+39.9) · D 68.9% · R 29.0% · Other 2.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 52.4pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+47.1 2016: D+41.5 2012: D+53.7 2008: D+52.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, MA
• 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

+293.5% since first listed

17 events — show timeline

• 2026-05-22 Relisted — MLS PIN
• 2026-05-21 Relisted — BCMLS
• 2026-05-21 Price Changed $249,900 BCMLS
• 2026-01-22 Listing Removed — MLS PIN
• 2025-12-23 Relisted — MLS PIN
• 2025-12-23 Relisted — BCMLS
• 2025-12-13 Pending — BCMLS
• 2025-12-13 Listing Removed — BCMLS
• 2025-12-12 Pending — MLS PIN
• 2025-12-07 Listed $239,900 BCMLS
• 2025-12-07 Listed $239,900 MLS PIN
• 2007-10-24 Sold (Public Records) $90,000 Public Records
• 2007-05-16 Listing Removed — BCMLS
• 2007-03-22 Listed $105,000 BCMLS
• 2006-04-14 Sold (Public Records) $70,000 Public Records
• 1994-06-14 Sold (Public Records) $78,720 Public Records
• 1990-10-25 Sold (Public Records) $63,500 Public Records

Property tax history

+0.7%/yr

Latest (2023): $1,640 · +6.8% YoY. Source: county tax records.