94-96 Liberty St · North Adams, MA 01247

$249,900

15 bd · 9.0 ba · 3,018 sqft · MultiFamily · 35 Days on market

Built 1900 Fair condition 10,019 sqft lot $83/sqft · 52% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +1.9/10.0
• Schools +1.8/10.0

Multi-family units

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

Listing remarks MLS

This well maintained 3 family would work well for an owner occupant. Large paved parking lot and large flat rear yard with distant mountain views, small shed in rear.

Key facts

• Spacious yard
• Near mass moca
• Off-street parking

Tags

• SEPARATE HEATING SYSTEMS
• INDIVIDUAL LAUNDRY HOOKUPS
• HARDWOOD FLOORS
• SPACIOUS YARD
• OFF-STREET PARKING
• NEAR MASS MOCA

Property features AI

Exterior

• Utilities: Circuit breakers; Individual electric meter; Public sewer
• Home design: Total building area approximately 3018; Directions: Houghton or Eagle St. to Liberty St.
• Construction: Membrane roof; Slate roof
• Exterior features: Porch

Interior

• Kitchen: No appliances included
• Bedrooms: Unit includes 3 bedrooms
• Flooring: Linoleum; Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Porch (also listed under exterior)
• Laundry & utility: Individual electric meter

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 2×1bd/1ba units multifamily listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $609/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 5.8% in North Adams — 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 55/100 on livability (#242 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, crime F.
• North Adams (town): math 14% / reading 29% proficiency, ranked #291 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Greylock (math 27% / reading 37%, grade F, #628 of 938 statewide, top 69%, 252 students, 0% FRL); Drury High (math 16% / reading 24%, grade F, #308 of 343 statewide, top 91%, 493 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 99 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).

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 + 3.0% rent growth), your $70k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $138k; list at $250k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $242,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-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 F 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: 1.80% ✓
• Cap rate: 15.07%
• Cash-on-cash: 31.35%
• DSCR: 2.39
• GRM: 4.6

CMA / ARV

• ARV (median comp): $164,901
• List price: $249,900
• Delta: 51.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.2%
• Equity multiple: 2.09×
• Total profit: $75,999
• Equity at exit: $37,261

10-year hold

• IRR: 33.9%
• Equity multiple: 4.09×
• Total profit: $216,372
• Equity at exit: $21,607

Cash invested: $69,972 (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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $4,500 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $1,828

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,608
▸ 2× units	1	1	$2,892
Total (3 units)			$4,500

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $249,900 Active 35 DOM
2. 2026-06-17
   days on market $249,900 Active 34 DOM
3. 2026-06-16
   days on market $249,900 Active 33 DOM
4. 2026-06-15
   days on market $249,900 Active 32 DOM
5. 2026-06-13
   days on market $249,900 Active 30 DOM
6. 2026-06-12
   days on market $249,900 Active 29 DOM
7. 2026-06-09
   days on market $249,900 Active 26 DOM
8. 2026-06-08
   days on market $249,900 Active 25 DOM
9. 2026-06-07
   days on market $249,900 Active 24 DOM
10. 2026-06-07
    days on market $249,900 Active 23 DOM
11. 2026-06-04
    days on market $249,900 Active 20 DOM
12. 2026-06-02
    days on market $249,900 Active 19 DOM
13. 2026-06-01
    days on market $249,900 Active 18 DOM
14. 2026-05-31
    days on market $249,900 Active 17 DOM
15. 2026-05-31
    days on market $249,900 Active 16 DOM
16. 2026-05-13
    listed $249,900 Active 850-char remark
17. 2005-06-30
    soldstatus $138,500 166-char remark

    Show marketing remark (166 chars)

    This well maintained 3 family would work well for an owner occupant. Large paved parking lot and large flat rear yard with distant mountain views, small shed in rear.

18. 2005-04-15
    listed $135,900 166-char remark

    Show marketing remark (166 chars)

    This well maintained 3 family would work well for an owner occupant. Large paved parking lot and large flat rear yard with distant mountain views, small shed in rear.

19. 2004-10-26
    soldstatus $122,000

    Show marketing remark (398 chars)

    This owner occupied well-maintained 3 family property is on a quiet street with paved parking in the rear. With the exception of some new carpet and paint, this property could be easily updated. Located on a level lot, the back yard is flat and private with fruit trees and a garden shed. Currently there are 2-1 bedroom units and a 1-3 bedroom unit, all within walking distance to MassMoCa and dow

20. 2004-08-22
    listed $119,500

    Show marketing remark (398 chars)

    This owner occupied well-maintained 3 family property is on a quiet street with paved parking in the rear. With the exception of some new carpet and paint, this property could be easily updated. Located on a level lot, the back yard is flat and private with fruit trees and a garden shed. Currently there are 2-1 bedroom units and a 1-3 bedroom unit, all within walking distance to MassMoCa and dow

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 9 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,000
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − Depreciation: −$7,270
• Taxable income: $19,094
• Est. tax owed @ 24.0%: −$4,583
• After-tax cash flow: $17,353/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This three-family property requires moderate renovations to update kitchens and bathrooms, paint exterior, and improve curb appeal. The property has potential for increased value with these updates.

Repairs flagged

• Minor kitchen cabinets — existing cabinets need updating
• Minor bathroom fixtures — existing fixtures need updating
• Minor roof shingles — existing shingles need minor repairs
• Minor exterior siding — existing siding needs touch-up paint
• Minor interior walls — existing paint needs touch-up

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing kitchen will appeal to both buyers and renters
• Both update bathroom fixtures and flooring — modernizing bathrooms will appeal to both buyers and renters
• Both paint exterior and landscaping — improving curb appeal will attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing cabinets need updating	Minor	$500–3,000
bathroom fixtures · existing fixtures need updating	Minor	$500–3,000
roof shingles · existing shingles need minor repairs	Minor	$500–3,000
exterior siding · existing siding needs touch-up paint	Minor	$500–3,000
interior walls · existing paint needs touch-up	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing kitchen will appeal to both buyers and renters ↑
• Both update bathroom fixtures and flooring — modernizing bathrooms will appeal to both buyers and renters ↑
• Both paint exterior and landscaping — improving curb appeal will attract more buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Adams
• NCES district ID: 2508670
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $36,746
• Composite: 17.83/100
• National rank: #9006
• State rank: #291 of 302 in MA

Livability — North Adams

• Score: 55/100
• State rank: #242
• US rank: #23506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Adams, MA
• City population: 14,967
• Population (ZIP): 14,967

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 15% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 0%

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: ▼ -6.22%
• Current HPI: 298.8949
• Rent YoY: —
• Metro: —
• 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

+109.1% since first listed

5 events — show timeline

• 2026-05-13 Listed $249,900 BCMLS
• 2005-06-30 Sold (MLS) $138,500 BCMLS
• 2005-04-15 Listed $135,900 BCMLS
• 2004-10-26 Sold (MLS) $122,000 BCMLS
• 2004-08-22 Listed $119,500 BCMLS