6 Munroe St · Peabody, MA 01960

$799,000

7 bd · 3.0 ba · 2,544 sqft · MultiFamily public records · 68 Days on market

Built 1910 3,624 sqft lot $314/sqft · 9% below area Est $874k · 9% under

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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 +20.7/30.0
• ARV discount +11.4/15.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

RARE OPPORTUNITY to own this de-leaded three-family property in Peabody! Ideally located close to everything, this is a great option for both owner-occupants and investors.Featuring 3 units, all with 2 bedrooms and 1 bath. Units 2 & 3 offer townhouse-style layouts across two levels. Current rents are below market with long-term tenants, providing strong upside potential.Situated on a one-way street with a spacious basement. Roof is approx. 12 years old. Owner has made several improvements, including renovated Units 1 & 2, new windows (2025), updated bath in Unit 2 (2025), and new front steps (2025).Don’t miss this opportunity to add a solid asset to your investment portfolio!

Key facts

• New front steps
• Spacious basement
• New windows

Tags

• TOWNHOUSE-STYLE LAYOUTS
• SPACIOUS BASEMENT
• RENOVATED UNITS 1 & 2
• NEW WINDOWS
• UPDATED BATH IN UNIT 2
• NEW FRONT STEPS

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $363/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $763k (4.5% below list).
• Recommended offer: $751k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.4% in Peabody — 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 79/100 on livability (#44 in MA, #2,070 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities D+, cost of living F.
• Peabody (suburban): math 29% / reading 40% proficiency, ranked #233 of 302 in MA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: J Henry Higgins Middle (math 28% / reading 36%, grade F, #199 of 305 statewide, top 66%, 1,346 students, 0% FRL); Peabody Veterans Memorial High (math 46% / reading 59%, grade C-, #173 of 343 statewide, top 51%, 1,476 students, 0% FRL) — zoned schools average 0% FRL vs 30% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.9%/yr); 48 active listings in the ZIP; solid renter incomes; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• At $7,630/mo this rent would consume 95% of the median local household income ($97k/yr) (locally 2570% 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 $6k of loan paydown is wiped out by about $24k 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 $306k; list at $799k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $751,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1910 — 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. 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: 0.95% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (median comp): $873,869
• List price: $799,000
• Delta: -8.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Northend St	0.21mi	6/3.0 (-1)	2,610 (+3%)	5mo	$835,000	$320	76
23 Northend	0.28mi	7/3.0	2,300 (-10%)	2mo	$1,000,000	$435	70
18-20 Pleasant St	0.51mi	7/3.5	2,759 (+8%)	1mo	$535,000	$194	59
55 Butler St	0.70mi	6/3.0 (-1)	2,536 (-0%)	4mo	$905,000	$357	58
9 Sutton St	0.64mi	6/2.0 (-1)	2,658 (+4%)	5mo	$725,000	$273	49
15 Swampscott Ave	0.71mi	6/3.0 (-1)	2,713 (+7%)	3mo	$915,000	$337	48
9 Shamrock St	0.43mi	6/2.5 (-1)	2,248 (-12%)	9mo	$955,000	$425	46
12 Goldthwaite Pl	0.58mi	6/2.0 (-1)	2,500 (-2%)	18mo	$800,000	$320	46
38 Pierpont St	0.54mi	7/3.0	2,862 (+12%)	10mo	$645,000	$225	46
33 Pulaski St	0.63mi	6/3.0 (-1)	2,732 (+7%)	16mo	$900,000	$329	40
78 Endicott St	0.47mi	8/4.0 (+1)	2,870 (+13%)	11mo	$815,000	$284	38
30 Irving St	0.72mi	6/2.0 (-1)	2,250 (-12%)	11mo	$780,000	$347	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.63×
• Total profit: $-82,728
• Equity at exit: $119,133

10-year hold

• IRR: -5.5%
• Equity multiple: 0.69×
• Total profit: $-70,144
• Equity at exit: $69,083

Cash invested: $223,720 (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 01960

• Rents YoY: -0.9%
• Active inventory: 48
• Price-to-rent: 26.2×

Monthly cashflow live

• Estimated rent: $7,630 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$416 /mo · $4,991/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,602
• Net cashflow: $1,089

Break-even live

Break-even rent $6,252

Max offer price $799,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,541	-5% $1,315	+0% $1,089	+5% $863	+10% $637
Rent	-10% $486	-5% $787	+0% $1,089	+5% $1,390	+10% $1,692
Rate	-1.0pp $1,491	-0.5pp $1,292	base $1,089	+0.5pp $882	+1.0pp $671

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,629
Total (3 units)			$7,630

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $799,000 Active 68 DOM
2. 2026-06-18
   days on market $799,000 Active 65 DOM
3. 2026-06-17
   days on market $799,000 Active 64 DOM
4. 2026-06-16
   days on market $799,000 Active 63 DOM
5. 2026-06-15
   days on market $799,000 Active 62 DOM
6. 2026-06-13
   days on market $799,000 Active 60 DOM
7. 2026-06-13
   days on market $799,000 Active 59 DOM
8. 2026-06-09
   days on market $799,000 Active 56 DOM
9. 2026-06-08
   days on market $799,000 Active 55 DOM
10. 2026-06-07
    days on market $799,000 Active 54 DOM
11. 2026-06-04
    days on market $799,000 Active 51 DOM
12. 2026-06-03
    days on market $799,000 Active 50 DOM
13. 2026-06-02
    days on market $799,000 Active 49 DOM
14. 2026-06-01
    days on market $799,000 Active 48 DOM
15. 2026-05-31
    days on market $799,000 Active 47 DOM
16. 2026-05-19
    price $799,000 698-char remark

    Show marketing remark (698 chars)

    RARE OPPORTUNITY to own this de-leaded three-family property in Peabody! Ideally located close to everything, this is a great option for both owner-occupants and investors.Featuring 3 units, all with 2 bedrooms and 1 bath. Units 2 & 3 offer townhouse-style layouts across two levels. Current rents are below market with long-term tenants, providing strong upside potential.Situated on a one-way street with a spacious basement. Roof is approx. 12 years old. Owner has made several improvements, including renovated Units 1 & 2, new windows (2025), updated bath in Unit 2 (2025), and new front steps (2025).Don’t miss this opportunity to add a solid asset to your investment portfolio!

17. 2026-04-14
    listed $829,000 New 698-char remark

    Show marketing remark (698 chars)

    RARE OPPORTUNITY to own this de-leaded three-family property in Peabody! Ideally located close to everything, this is a great option for both owner-occupants and investors.Featuring 3 units, all with 2 bedrooms and 1 bath. Units 2 & 3 offer townhouse-style layouts across two levels. Current rents are below market with long-term tenants, providing strong upside potential.Situated on a one-way street with a spacious basement. Roof is approx. 12 years old. Owner has made several improvements, including renovated Units 1 & 2, new windows (2025), updated bath in Unit 2 (2025), and new front steps (2025).Don’t miss this opportunity to add a solid asset to your investment portfolio!

18. 2014-09-18
    soldstatus $305,600 Sold 636-char remark

    Show marketing remark (636 chars)

    A ROOF OVER YOUR HEAD AND MONEY IN YOUR POCKET! Peabody 3 Family with 2 bedrooms in each unit. Move right in to the first floor apartment and start collecting rent checks from the other 2 units. (gross income $1,750 per month) The current owner has done much work here over the years, including deleading all 3 apartments, strip & re-roof, new exterior stairs and deck, structural repairs, some replacement windows, electrical, plumbing & gas fitting. There is still more work needed to take it to the next level. This is a great opportunity for the new owner to add value by renovating then raising rents to increase income.

19. 2014-08-22
    historical Contingent 636-char remark

    Show marketing remark (636 chars)

    A ROOF OVER YOUR HEAD AND MONEY IN YOUR POCKET! Peabody 3 Family with 2 bedrooms in each unit. Move right in to the first floor apartment and start collecting rent checks from the other 2 units. (gross income $1,750 per month) The current owner has done much work here over the years, including deleading all 3 apartments, strip & re-roof, new exterior stairs and deck, structural repairs, some replacement windows, electrical, plumbing & gas fitting. There is still more work needed to take it to the next level. This is a great opportunity for the new owner to add value by renovating then raising rents to increase income.

20. 2014-08-15
    listed $305,500 New 636-char remark

    Show marketing remark (636 chars)

    A ROOF OVER YOUR HEAD AND MONEY IN YOUR POCKET! Peabody 3 Family with 2 bedrooms in each unit. Move right in to the first floor apartment and start collecting rent checks from the other 2 units. (gross income $1,750 per month) The current owner has done much work here over the years, including deleading all 3 apartments, strip & re-roof, new exterior stairs and deck, structural repairs, some replacement windows, electrical, plumbing & gas fitting. There is still more work needed to take it to the next level. This is a great opportunity for the new owner to add value by renovating then raising rents to increase income.

21. 2005-08-03
    soldstatus $280,000
22. 2005-05-24
    historical
23. 2005-05-23
    listed $280,000
24. 1999-12-17
    soldstatus $183,000
25. 1999-12-17
    soldstatus $183,000
26. 1999-12-17
    soldstatus $183,000
27. 1999-10-19
    historical
28. 1999-09-10
    listed $188,000
29. 1992-06-30
    soldstatus $110,000

ⓘ 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: $4,991 · $416/mo
• Projected year-2 tax: $7,409 · $617/mo
• Expected delta: +$2,418/yr (+$202/mo · 48.5%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,560
• − Mortgage interest: −$44,756
• − Property taxes: −$4,991
• − Insurance: −$3,995
• − Repairs & maintenance: −$7,325
• − Management: −$7,325
• − Depreciation: −$23,244
• Taxable loss: −$76
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $13,084/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: Peabody
• NCES district ID: 2509360
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $64,022
• Composite: 31.23/100
• National rank: #6033
• State rank: #233 of 302 in MA

Livability — Peabody

• Score: 79/100
• State rank: #44
• US rank: #2070

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peabody, MA
• County: Essex County · 632,995 people
• City population: 54,474
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 54,474
• Household income: $96,501
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 2570.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 6%
• Common ancestry: Russian 6% Lithuanian 4% Romanian 3%
• Foreign-born: 17% · Canada, China
• Languages at home: 76% English-only · Other Indo-European 11% Spanish 8% French/Haitian/Cajun 2%

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: ▼ -565.60%
• Current HPI: 285.9699
• Rent YoY: ▼ -0.91%
• 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

+626.4% since first listed

14 events — show timeline

• 2026-05-19 Price Changed $799,000 MLS PIN
• 2026-04-14 Listed $829,000 MLS PIN
• 2014-09-18 Sold (MLS) $305,600 MLS PIN
• 2014-08-22 Contingent — MLS PIN
• 2014-08-15 Listed $305,500 MLS PIN
• 2005-08-03 Sold (MLS) $280,000 MLS PIN
• 2005-05-24 Listing Removed — MLS PIN
• 2005-05-23 Listed $280,000 MLS PIN
• 1999-12-17 Sold (Public Records) $183,000 Public Records
• 1999-12-17 Sold (Public Records) $183,000 Public Records
• 1999-12-17 Sold (MLS) $183,000 MLS PIN
• 1999-10-19 Listing Removed — MLS PIN
• 1999-09-10 Listed $188,000 MLS PIN
• 1992-06-30 Sold (Public Records) $110,000 Public Records

Property tax history

+3.2%/yr

Latest (2022): $4,991 · +3.4% YoY. Source: county tax records.