122 Laurel St · Fitchburg, MA 01420

$950,000

8 bd · 6.0 ba · 4,449 sqft · MultiFamily public records · 139 Days on market

Built 1920 5,571 sqft lot $214/sqft · 61% 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 +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Completely renovated in 2017, this well-maintained 6-family offers turnkey convenience with a full sprinkler system, radio box tied into the fire dept., (6) individual Rinnai on-demand heat and hot water units, updated electrical with separate meters plus a common meter, (6) gas meters, updated plumbing, thermal pane windows, and updated insulation. Each spacious apartment features renovated kitchens with modern cabinets, appliances, and dishwashers in select units, along with updated baths—some with double vanities and custom tile showers. Durable vinyl flooring runs throughout. All units have a second egress, and ample off-street parking is available for all tenants. Utilities are separated except town water/sewer. Basement offers extra storage and workspace. Vinyl siding ensures easy maintenance. Long-term tenants in place.

Key facts

• Updated electrical
• Thermal pane windows
• Updated plumbing

Tags

• FULL SPRINKLER SYSTEM
• RADIO BOX TIED INTO FIRE DEPT
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• THERMAL PANE WINDOWS
• UPDATED INSULATION

What this means for you Summary

Snapshot

• This is a 6 × 7-bed/6.0-bath units multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive. Per door: $986/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $950k).
• Recommended offer: $836k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 4.0% in Fitchburg — 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 69/100 on livability (#137 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, health & safety B+; Watch: employment D+, crime D, schools D-.
• Fitchburg (suburban): math 15% / reading 30% proficiency, ranked #282 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 79 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $14,942/mo this rent would consume 246% of the median local household income ($73k/yr) (locally 1763% 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 $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $266k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($836k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $200k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $950k implies a 1538% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $836,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — 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: 1.57% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.68%
• DSCR: 2.19
• GRM: 5.3

CMA / ARV

• ARV (median comp): $590,706
• List price: $950,000
• Delta: 60.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9-11 Franklin St	0.36mi	9/5.0 (+1)	4,385 (-1%)	1mo	$655,000	$149	71
12 Washington St	0.35mi	8/4.0	4,400 (-1%)	4mo	$680,000	$155	71
132-134 Green St	0.56mi	8/5.0	4,608 (+4%)	13mo	$400,000	$87	53
12 Granite St	0.45mi	9/3.0 (+1)	4,584 (+3%)	9mo	$555,000	$121	50
133-137 Payson St	0.25mi	9/3.0 (+1)	3,921 (-12%)	7mo	$675,000	$172	46
30 Chestnut St	0.73mi	7/3.0 (-1)	4,458 (+0%)	11mo	$550,000	$123	40
121 Day St	0.48mi	8/3.0	4,060 (-9%)	15mo	$655,000	$161	39
28 Beacon St	0.70mi	8/4.0	4,269 (-4%)	17mo	$595,000	$139	38
46 Myrtle Ave	0.55mi	9/3.0 (+1)	3,948 (-11%)	1mo	$700,000	$177	38
17 Franklin St	0.34mi	9/3.0 (+1)	3,894 (-12%)	18mo	$620,000	$159	31

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 · 3.06% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.84×
• Total profit: $223,403
• Equity at exit: $141,648

10-year hold

• IRR: 28.8%
• Equity multiple: 3.57×
• Total profit: $682,448
• Equity at exit: $82,139

Cash invested: $266,000 (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 01420

• Home prices YoY: -25.2%
• Rents YoY: 3.1%
• Active inventory: 79
• Price-to-rent: 31.8×

Monthly cashflow live

• Estimated rent: $14,942 medium
• Mortgage (P&I): −$4,982
• Tax from tax record: −$513 /mo · $6,156/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,138
• Net cashflow: $5,913

Break-even live

Break-even rent $7,457

Max offer price $950,000

Occupancy floor 55%

Sensitivity live

Price	-10% $6,451	-5% $6,182	+0% $5,913	+5% $5,645	+10% $5,376
Rent	-10% $4,733	-5% $5,323	+0% $5,913	+5% $6,504	+10% $7,094
Rate	-1.0pp $6,392	-0.5pp $6,155	base $5,913	+0.5pp $5,667	+1.0pp $5,417

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

Units	Beds	Baths	Est. rent
▸ 6× units	7	6	$14,940
Total (6 units)			$14,942

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-09
   days on market $950,000 Active 139 DOM
2. 2026-06-08
   days on market $950,000 Active 138 DOM
3. 2026-06-07
   days on market $950,000 Active 137 DOM
4. 2026-06-03
   days on market $950,000 Active 133 DOM
5. 2026-06-02
   days on market $950,000 Active 132 DOM
6. 2026-06-01
   days on market $950,000 Active 131 DOM
7. 2026-05-31
   days on market $950,000 Active 130 DOM
8. 2026-05-31
   days on market $950,000 Active 129 DOM
9. 2026-05-18
   price $950,000 844-char remark

   Show marketing remark (844 chars)

   Completely renovated in 2017, this well-maintained 6-family offers turnkey convenience with a full sprinkler system, radio box tied into the fire dept., (6) individual Rinnai on-demand heat and hot water units, updated electrical with separate meters plus a common meter, (6) gas meters, updated plumbing, thermal pane windows, and updated insulation. Each spacious apartment features renovated kitchens with modern cabinets, appliances, and dishwashers in select units, along with updated baths—some with double vanities and custom tile showers. Durable vinyl flooring runs throughout. All units have a second egress, and ample off-street parking is available for all tenants. Utilities are separated except town water/sewer. Basement offers extra storage and workspace. Vinyl siding ensures easy maintenance. Long-term tenants in place.

10. 2026-05-03
    price $994,900 844-char remark

    Show marketing remark (844 chars)

    Completely renovated in 2017, this well-maintained 6-family offers turnkey convenience with a full sprinkler system, radio box tied into the fire dept., (6) individual Rinnai on-demand heat and hot water units, updated electrical with separate meters plus a common meter, (6) gas meters, updated plumbing, thermal pane windows, and updated insulation. Each spacious apartment features renovated kitchens with modern cabinets, appliances, and dishwashers in select units, along with updated baths—some with double vanities and custom tile showers. Durable vinyl flooring runs throughout. All units have a second egress, and ample off-street parking is available for all tenants. Utilities are separated except town water/sewer. Basement offers extra storage and workspace. Vinyl siding ensures easy maintenance. Long-term tenants in place.

11. 2026-03-19
    price $999,900 844-char remark

    Show marketing remark (844 chars)

    Completely renovated in 2017, this well-maintained 6-family offers turnkey convenience with a full sprinkler system, radio box tied into the fire dept., (6) individual Rinnai on-demand heat and hot water units, updated electrical with separate meters plus a common meter, (6) gas meters, updated plumbing, thermal pane windows, and updated insulation. Each spacious apartment features renovated kitchens with modern cabinets, appliances, and dishwashers in select units, along with updated baths—some with double vanities and custom tile showers. Durable vinyl flooring runs throughout. All units have a second egress, and ample off-street parking is available for all tenants. Utilities are separated except town water/sewer. Basement offers extra storage and workspace. Vinyl siding ensures easy maintenance. Long-term tenants in place.

12. 2026-01-21
    listed $1,150,000 New 844-char remark

    Show marketing remark (844 chars)

    Completely renovated in 2017, this well-maintained 6-family offers turnkey convenience with a full sprinkler system, radio box tied into the fire dept., (6) individual Rinnai on-demand heat and hot water units, updated electrical with separate meters plus a common meter, (6) gas meters, updated plumbing, thermal pane windows, and updated insulation. Each spacious apartment features renovated kitchens with modern cabinets, appliances, and dishwashers in select units, along with updated baths—some with double vanities and custom tile showers. Durable vinyl flooring runs throughout. All units have a second egress, and ample off-street parking is available for all tenants. Utilities are separated except town water/sewer. Basement offers extra storage and workspace. Vinyl siding ensures easy maintenance. Long-term tenants in place.

13. 2022-04-13
    price $1,200
14. 2017-08-25
    soldstatus $58,000 Sold 119-char remark

    Show marketing remark (119 chars)

    Property to be sold as is, buyer to do their due diligence, all offers to be presented to seller on July 28th 2017 12pm

15. 2017-08-15
    status Under Agreement 119-char remark

    Show marketing remark (119 chars)

    Property to be sold as is, buyer to do their due diligence, all offers to be presented to seller on July 28th 2017 12pm

16. 2017-07-20
    listed $50,000 New 119-char remark

    Show marketing remark (119 chars)

    Property to be sold as is, buyer to do their due diligence, all offers to be presented to seller on July 28th 2017 12pm

17. 1999-05-04
    soldstatus $24,000
18. 1999-05-04
    soldstatus $24,000

ⓘ 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: $6,156 · $513/mo
• Projected year-2 tax: $8,920 · $743/mo
• Expected delta: +$2,764/yr (+$230/mo · 44.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe 77% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $179,304
• − Mortgage interest: −$53,215
• − Property taxes: −$6,156
• − Insurance: −$4,750
• − Repairs & maintenance: −$14,344
• − Management: −$14,344
• − Depreciation: −$27,636
• Taxable income: $58,858
• Est. tax owed @ 24.0%: −$14,126
• After-tax cash flow: $56,835/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: Fitchburg
• NCES district ID: 2504890
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $48,430
• Composite: 19.78/100
• National rank: #8705
• State rank: #282 of 302 in MA

Livability — Fitchburg

• Score: 69/100
• State rank: #137
• US rank: #8435

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fitchburg, MA
• County: Worcester County · 487,911 people
• City population: 41,839
• Metro: Worcester, MA-CT
• Population (ZIP): 41,839
• Household income: $72,780
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1763.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 19% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 2%
• Common ancestry: Lithuanian 8% Romanian 3% Slovak 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 22% French/Haitian/Cajun 3% Other Indo-European 2%

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: ▼ -102.11%
• Current HPI: 303.1067
• Rent YoY: ▲ 3.06%
• 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

+3858.3% since first listed

10 events — show timeline

• 2026-05-18 Price Changed $950,000 MLS PIN
• 2026-05-03 Price Changed $994,900 MLS PIN
• 2026-03-19 Price Changed $999,900 MLS PIN
• 2026-01-21 Listed $1,150,000 MLS PIN
• 2022-04-13 Price Changed $1,200 RENT.
• 2017-08-25 Sold (MLS) $58,000 MLS PIN
• 2017-08-15 Pending — MLS PIN
• 2017-07-20 Listed $50,000 MLS PIN
• 1999-05-04 Sold (Public Records) $24,000 Public Records
• 1999-05-04 Sold (Public Records) $24,000 Public Records

Property tax history

+5.2%/yr

Latest (2022): $6,156 · +3.6% YoY. Source: county tax records.