445 South Main · Haverhill, MA 01835

$2,010,000

10 bd · 10.0 ba · 6,450 sqft · MultiFamily public records · 34 Days on market

Built 1919 0.90 ac lot $312/sqft · 97% 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 +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 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

Positioned in the heart of Bradford, this stately 10-unit (6 one-bedroom, 4 studio) brick residence offers a rare blend of architectural elegance and contemporary updates. The Harland Hussey House, originally built in 1920 as a mansion for an executive in the flourishing shoe manufacturing business, showcases high ceilings, natural light, and original hardwood floors. Set on a generous lot with ample off-street parking, the property also boasts spacious front and back yards. Extensively renovated, the property features brand-new underground 600-amp electrical service, dedicated subpanels and separate electric meters, new electric hydronic baseboard heating throughout, new hardwired fire alarm system, as well as new appliances and granite countertops in all units. The property has been fully insulated through Mass Save, and a new roof was installed in 2023. All units are fully leased, providing an excellent opportunity to add a turnkey property to your portfolio before year end.

Key facts

• Natural light
• High ceilings
• 0.9 acre lot

Tags

• HIGH CEILINGS
• NATURAL LIGHT
• ORIGINAL HARDWOOD FLOORS
• AMPLE OFF-STREET PARKING
• SPACIOUS FRONT AND BACK YARDS
• NEW ELECTRIC HYDRONIC HEATING

What this means for you Summary

Snapshot

• This is a 10 × 10-bed/10.0-bath units multifamily listed at $2.01M.

Deal economics

• At list price, monthly cash flow is $14k ($165k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($33k rent vs $2.01M).
• Recommended offer: $1.95M (3.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 2.7% in Haverhill — 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 (#79 in MA, #4,197 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F, cost of living F.
• Haverhill (suburban): math 20% / reading 33% proficiency, ranked #264 of 302 in MA (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; high-income renter base; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• At $32,859/mo this rent would consume 347% of the median local household income ($114k/yr) (locally 260% 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 $14k of loan paydown is wiped out by about $60k of value loss. Plan a longer hold.
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $563k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($1.95M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 33y 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 $218k; list at $2.01M implies a 822% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,949,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1919 — 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. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 14.49%
• Cash-on-cash: 29.28%
• DSCR: 2.30
• GRM: 5.1

CMA / ARV

• ARV (median comp): $1,018,416
• List price: $2,010,000
• Delta: 97.37%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.7%
• Equity multiple: 1.97×
• Total profit: $548,530
• Equity at exit: $299,698

10-year hold

• IRR: 31.6%
• Equity multiple: 3.85×
• Total profit: $1,601,904
• Equity at exit: $173,788

Cash invested: $562,800 (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 01835

• Active inventory: 14
• Price-to-rent: 51.0×

Monthly cashflow live

• Estimated rent: $32,859 medium
• Mortgage (P&I): −$10,541
• Tax from tax record: −$846 /mo · $10,150/yr
• Insurance: −$838
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,900
• Net cashflow: $13,735

Break-even live

Break-even rent $15,473

Max offer price $2,010,000

Occupancy floor 53%

Sensitivity live

Price	-10% $14,872	-5% $14,304	+0% $13,735	+5% $13,166	+10% $12,597
Rent	-10% $11,139	-5% $12,437	+0% $13,735	+5% $15,033	+10% $16,330
Rate	-1.0pp $14,747	-0.5pp $14,246	base $13,735	+0.5pp $13,214	+1.0pp $12,684

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

Units	Beds	Baths	Est. rent
▸ 10× units	10	10	$32,860
Total (10 units)			$32,859

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: $502,500
• Closing costs: $60,300
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $2,010,000 Active 34 DOM
2. 2026-06-17
   days on market $2,010,000 Active 33 DOM
3. 2026-06-16
   days on market $2,010,000 Active 32 DOM
4. 2026-06-15
   days on market $2,010,000 Active 31 DOM
5. 2026-06-13
   days on market $2,010,000 Active 29 DOM
6. 2026-06-13
   days on market $2,010,000 Active 28 DOM
7. 2026-06-09
   days on market $2,010,000 Active 25 DOM
8. 2026-06-08
   days on market $2,010,000 Active 24 DOM
9. 2026-06-07
   days on market $2,010,000 Active 23 DOM
10. 2026-06-04
    days on market $2,010,000 Active 20 DOM
11. 2026-06-03
    days on market $2,010,000 Active 19 DOM
12. 2026-06-02
    days on market $2,010,000 Active 18 DOM
13. 2026-06-01
    days on market $2,010,000 Active 17 DOM
14. 2026-05-31
    days on market $2,010,000 Active 16 DOM
15. 2026-05-15
    listed $2,010,000 New 992-char remark

    Show marketing remark (992 chars)

    Positioned in the heart of Bradford, this stately 10-unit (6 one-bedroom, 4 studio) brick residence offers a rare blend of architectural elegance and contemporary updates. The Harland Hussey House, originally built in 1920 as a mansion for an executive in the flourishing shoe manufacturing business, showcases high ceilings, natural light, and original hardwood floors. Set on a generous lot with ample off-street parking, the property also boasts spacious front and back yards. Extensively renovated, the property features brand-new underground 600-amp electrical service, dedicated subpanels and separate electric meters, new electric hydronic baseboard heating throughout, new hardwired fire alarm system, as well as new appliances and granite countertops in all units. The property has been fully insulated through Mass Save, and a new roof was installed in 2023. All units are fully leased, providing an excellent opportunity to add a turnkey property to your portfolio before year end.

16. 1994-04-19
    soldstatus $218,000 138-char remark

    Show marketing remark (138 chars)

    ONE OF A KIND FORMER BRICK MANSION. UNIQUE DETAILING-WINDING STAIRCASE, STAIN GLASS, EXTRA LARGE LOT, OFF STREET PARKING, 10 UNIQUE UNITS.

17. 1994-04-19
    soldstatus $220,000

    Show marketing remark (138 chars)

    ONE OF A KIND FORMER BRICK MANSION. UNIQUE DETAILING-WINDING STAIRCASE, STAIN GLASS, EXTRA LARGE LOT, OFF STREET PARKING, 10 UNIQUE UNITS.

18. 1993-12-29
    historical 138-char remark

    Show marketing remark (138 chars)

    ONE OF A KIND FORMER BRICK MANSION. UNIQUE DETAILING-WINDING STAIRCASE, STAIN GLASS, EXTRA LARGE LOT, OFF STREET PARKING, 10 UNIQUE UNITS.

19. 1993-10-12
    listed $259,000 138-char remark

    Show marketing remark (138 chars)

    ONE OF A KIND FORMER BRICK MANSION. UNIQUE DETAILING-WINDING STAIRCASE, STAIN GLASS, EXTRA LARGE LOT, OFF STREET PARKING, 10 UNIQUE UNITS.

20. 1992-04-06
    soldstatus $235,000
21. 1987-11-02
    soldstatus $163,464

ⓘ 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: $10,150 · $846/mo
• Projected year-2 tax: $17,436 · $1,453/mo
• Expected delta: +$7,286/yr (+$607/mo · 71.8%)

ⓘ 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 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $394,308
• − Mortgage interest: −$112,591
• − Property taxes: −$10,150
• − Insurance: −$10,050
• − Repairs & maintenance: −$31,545
• − Management: −$31,545
• − Depreciation: −$58,473
• Taxable income: $139,955
• Est. tax owed @ 24.0%: −$33,589
• After-tax cash flow: $131,226/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: Haverhill
• NCES district ID: 2505970
• Math proficiency: 20% ▼ -17.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $61,462
• Composite: 24.35/100
• National rank: #7697
• State rank: #264 of 302 in MA

Livability — Haverhill

• Score: 75/100
• State rank: #79
• US rank: #4197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Haverhill, MA
• County: Essex County · 632,995 people
• City population: 67,698
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 14,782
• Household income: $113,578
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 260.0

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 12% Black 4%
• Hispanic origin (detail): Puerto Rican 5% Dominican 6%
• Common ancestry: Lithuanian 9% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica, China
• Languages at home: 83% English-only · Spanish 11% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Essex

• 2024 margin: Strong D (+20.3) · D 59.2% · R 38.9% · Other 1.9%
• 2008→2024 swing: 0.0pp no change · 2008: 20.3pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+29.1 2016: D+22.5 2012: D+16.2 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -246.63%
• Current HPI: 314.6124
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• 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

+1129.6% since first listed

7 events — show timeline

• 2026-05-15 Listed $2,010,000 MLS PIN
• 1994-04-19 Sold (Public Records) $220,000 Public Records
• 1994-04-19 Sold (MLS) $218,000 MLS PIN
• 1993-12-29 Listing Removed — MLS PIN
• 1993-10-12 Listed $259,000 MLS PIN
• 1992-04-06 Sold (Public Records) $235,000 Public Records
• 1987-11-02 Sold (Public Records) $163,464 Public Records

Property tax history

+4.1%/yr

Latest (2023): $10,150 · -6.1% YoY. Source: county tax records.