37 North · Franklin Town, MA 02053

$464,999

3 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 68 Days on market

Built 1900 6,534 sqft lot $419/sqft · 14% below area Est $538k · 14% under

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Why this score? — see what drove the D 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).

• ARV discount +13.6/15.0
• Cash flow +10.5/30.0
• Schools +5.7/10.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 1900, this 1,110 sq ft Colonial offers character and functional living space. The home includes 3 bedrooms and 1 bathroom and is set on a 6,534 sq ft lot. The second floor includes three bedrooms, including a primary bedroom with a walk-in closet. The third bedroom offers flexibility for use as a home office, nursery, or additional living space. Recent updates include a newly constructed deck, ideal for outdoor use and entertaining. Conveniently located in Medway’s historic village with access to local amenities, shops, and major routes. Nestled in a beautiful cul-de-sac setting, this home offers both privacy and convenience. An added bonus: snow plowing for the cul-de-sac is currently handled by a neighbor, helping make winter maintenance even easier.

Key facts

• Walk-in closet
• 6,534 sq ft lot
• 2 parking spots

Tags

• WALK-IN CLOSET
• NEWLY CONSTRUCTED DECK
• ACCESS TO LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $465k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $422k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $361k (22.3% below list).
• Recommended offer: $361k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.2% in Franklin Town — 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 85/100 on livability (#14 in MA, #588 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Medway (suburban): math 55% / reading 65% proficiency, ranked #55 of 302 in MA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Burke/Memorial Elementary School (math 67% / reading 73%, grade A-, #61 of 938 statewide, top 7%, 484 students, 0% FRL); Medway Middle (math 45% / reading 58%, grade C, #75 of 305 statewide, top 25%, 653 students, 0% FRL); Medway High (math 82% / reading 87%, grade A, #22 of 343 statewide, top 8%, 613 students, 0% FRL).
• Market conditions: 23 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 958 units permitted in Norfolk County in 2024 (305 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Norfolk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($437k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $285k; list at $465k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $361,496 (22.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• GRM: 10.7

CMA / ARV

• ARV (median comp): $537,990
• List price: $464,999
• Delta: -13.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Sanford St	0.25mi	3/1.0	1,232 (+11%)	6mo	$410,000	$333	65
10 Prospect St	0.43mi	2/1.5 (-1)	1,222 (+10%)	4mo	$430,000	$352	53
3 Kelley St	0.72mi	3/1.0	1,160 (+4%)	12mo	$555,000	$478	49
903 Lincoln St	0.40mi	3/1.0	1,275 (+15%)	14mo	$465,000	$365	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.30×
• Total profit: $-90,807
• Equity at exit: $69,333

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-99,022
• Equity at exit: $40,205

Cash invested: $130,200 (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 02053

• Active inventory: 23
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $3,615 medium
• Mortgage (P&I): −$2,439
• Tax from tax record: −$466 /mo · $5,592/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$759
• Net cashflow: $-242

Break-even live

Break-even rent $3,922

Max offer price $422,172

Occupancy floor —

Sensitivity live

Price	-10% $21	-5% $-111	+0% $-242	+5% $-374	+10% $-506
Rent	-10% $-528	-5% $-385	+0% $-242	+5% $-100	+10% $43
Rate	-1.0pp $-8	-0.5pp $-124	base $-242	+0.5pp $-363	+1.0pp $-486

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Sanford St #29 Medway, MA	2.0	2.0	981	$2,950	$3.01	0d	1	0.31mi
39 Main St Medway, MA	1.0–3.0	1.0–2.0	1033	$4,035	$3.90	0d	11	0.75mi

Listing history 25 events

1. 2026-06-21
   days on market $464,999 Active 68 DOM
2. 2026-06-18
   days on market $464,999 Active 65 DOM
3. 2026-06-17
   days on market $464,999 Active 64 DOM
4. 2026-06-16
   days on market $464,999 Active 63 DOM
5. 2026-06-15
   days on market $464,999 Active 62 DOM
6. 2026-06-13
   days on market $464,999 Active 60 DOM
7. 2026-06-13
   days on market $464,999 Active 59 DOM
8. 2026-06-09
   days on market $464,999 Active 56 DOM
9. 2026-06-08
   days on market $464,999 Active 55 DOM
10. 2026-06-07
    statusdays on market $464,999 Active 54 DOM
11. 2026-06-04
    days on market $464,999 Price Changed 51 DOM
12. 2026-06-03
    pricestatusdays on market $464,999 Price Changed 50 DOM
13. 2026-06-02
    days on market $469,999 Active 49 DOM
14. 2026-06-01
    days on market $469,999 Active 48 DOM
15. 2026-05-31
    days on market $469,999 Active 47 DOM
16. 2026-05-19
    price $469,999 777-char remark

    Show marketing remark (777 chars)

    Built in 1900, this 1,110 sq ft Colonial offers character and functional living space. The home includes 3 bedrooms and 1 bathroom and is set on a 6,534 sq ft lot. The second floor includes three bedrooms, including a primary bedroom with a walk-in closet. The third bedroom offers flexibility for use as a home office, nursery, or additional living space. Recent updates include a newly constructed deck, ideal for outdoor use and entertaining. Conveniently located in Medway’s historic village with access to local amenities, shops, and major routes. Nestled in a beautiful cul-de-sac setting, this home offers both privacy and convenience. An added bonus: snow plowing for the cul-de-sac is currently handled by a neighbor, helping make winter maintenance even easier.

17. 2026-04-14
    listed $479,999 New 777-char remark

    Show marketing remark (777 chars)

    Built in 1900, this 1,110 sq ft Colonial offers character and functional living space. The home includes 3 bedrooms and 1 bathroom and is set on a 6,534 sq ft lot. The second floor includes three bedrooms, including a primary bedroom with a walk-in closet. The third bedroom offers flexibility for use as a home office, nursery, or additional living space. Recent updates include a newly constructed deck, ideal for outdoor use and entertaining. Conveniently located in Medway’s historic village with access to local amenities, shops, and major routes. Nestled in a beautiful cul-de-sac setting, this home offers both privacy and convenience. An added bonus: snow plowing for the cul-de-sac is currently handled by a neighbor, helping make winter maintenance even easier.

18. 2018-07-26
    soldstatus $285,000 Sold 943-char remark

    Show marketing remark (943 chars)

    Super cute & affordable antique colonial in historic village of Medway! This well maintained home offers 3 second fl bedrooms w/ 1 first floor bathroom. The living room & dining rooms are generous size for you and your guests to gather. The eat-in kitchen w/ recessed lights & dishwasher opens to a fabulous sitting /eating area w/ skylights & sliders to the nice BACK DECK and FENCED in yard. The second floor typical of the period the home was built w/ wide plank pine floors. Master bed has a 4x4 walk in closet. The 3rd bedroom has no formal closet but it is a perfect nursery or home office. The roof has recently been done along with heating coils added to to help prevent ice damage. Pull down attic provides quite a bit of storage space. 2 car parking in newly paved driveway. Laundry in basement (not a lot of storage there). If you are looking for a starter home in a great area then you do not want to miss this one.

19. 2018-05-23
    status Contingent 943-char remark

    Show marketing remark (943 chars)

    Super cute & affordable antique colonial in historic village of Medway! This well maintained home offers 3 second fl bedrooms w/ 1 first floor bathroom. The living room & dining rooms are generous size for you and your guests to gather. The eat-in kitchen w/ recessed lights & dishwasher opens to a fabulous sitting /eating area w/ skylights & sliders to the nice BACK DECK and FENCED in yard. The second floor typical of the period the home was built w/ wide plank pine floors. Master bed has a 4x4 walk in closet. The 3rd bedroom has no formal closet but it is a perfect nursery or home office. The roof has recently been done along with heating coils added to to help prevent ice damage. Pull down attic provides quite a bit of storage space. 2 car parking in newly paved driveway. Laundry in basement (not a lot of storage there). If you are looking for a starter home in a great area then you do not want to miss this one.

20. 2018-04-23
    price $289,900 943-char remark

    Show marketing remark (943 chars)

    Super cute & affordable antique colonial in historic village of Medway! This well maintained home offers 3 second fl bedrooms w/ 1 first floor bathroom. The living room & dining rooms are generous size for you and your guests to gather. The eat-in kitchen w/ recessed lights & dishwasher opens to a fabulous sitting /eating area w/ skylights & sliders to the nice BACK DECK and FENCED in yard. The second floor typical of the period the home was built w/ wide plank pine floors. Master bed has a 4x4 walk in closet. The 3rd bedroom has no formal closet but it is a perfect nursery or home office. The roof has recently been done along with heating coils added to to help prevent ice damage. Pull down attic provides quite a bit of storage space. 2 car parking in newly paved driveway. Laundry in basement (not a lot of storage there). If you are looking for a starter home in a great area then you do not want to miss this one.

21. 2018-03-22
    listed $299,900 New 943-char remark

    Show marketing remark (943 chars)

    Super cute & affordable antique colonial in historic village of Medway! This well maintained home offers 3 second fl bedrooms w/ 1 first floor bathroom. The living room & dining rooms are generous size for you and your guests to gather. The eat-in kitchen w/ recessed lights & dishwasher opens to a fabulous sitting /eating area w/ skylights & sliders to the nice BACK DECK and FENCED in yard. The second floor typical of the period the home was built w/ wide plank pine floors. Master bed has a 4x4 walk in closet. The 3rd bedroom has no formal closet but it is a perfect nursery or home office. The roof has recently been done along with heating coils added to to help prevent ice damage. Pull down attic provides quite a bit of storage space. 2 car parking in newly paved driveway. Laundry in basement (not a lot of storage there). If you are looking for a starter home in a great area then you do not want to miss this one.

22. 2015-07-15
    soldstatus $244,000 Sold
23. 2015-05-20
    status Contingent
24. 2015-05-07
    listed $253,000 New
25. 1991-05-14
    soldstatus $122,000

ⓘ 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: $5,592 · $466/mo
• Projected year-2 tax: $5,656 · $471/mo
• Expected delta: +$64/yr (+$5/mo · 1.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,380
• − Mortgage interest: −$26,047
• − Property taxes: −$5,592
• − Insurance: −$2,325
• − Repairs & maintenance: −$3,470
• − Management: −$3,470
• − Depreciation: −$13,527
• Taxable loss: −$11,053
• Est. tax savings @ 24.0%: +$2,653
• After-tax cash flow: $-257/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: Medway
• NCES district ID: 2507590
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $107,064
• Composite: 56.5/100
• National rank: #1155
• State rank: #55 of 302 in MA

Livability — Franklin Town

• Score: 85/100
• State rank: #14
• US rank: #588

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Norfolk County · 644,082 people
• City population: 33,067
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 13,436
• Household income: $173,750
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 148.0

Population outlook (Norfolk County) Hauer SSP2

• Today (2025): 737,259 people
• By 2030: 755,213 · +2.4%
• By 2040: 786,961 · +6.7%
• By 2050: 813,019 · +10.3%
• By 2075: 861,214 · +16.8%
• By 2100: 845,063 · +14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Asian 5% Hispanic / Latino 5% Black 1%
• Common ancestry: Slovak 4% Romanian 4% Lithuanian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 2% Chinese 1%

Political lean MEDSL · Norfolk

• 2024 margin: Strong D (+28.8) · D 63.3% · R 34.6% · Other 2.1%
• 2008→2024 swing: +10.2pp toward D · 2008: 18.5pp · 2024: 28.8pp
• All cycles: 2024: D+28.8 2020: D+36.3 2016: D+27.9 2012: D+16.1 2008: D+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -245.37%
• Current HPI: 261.2854
• 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

+285.2% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $469,999 MLS PIN
• 2026-04-14 Listed $479,999 MLS PIN
• 2018-07-26 Sold (MLS) $285,000 MLS PIN
• 2018-05-23 Pending — MLS PIN
• 2018-04-23 Price Changed $289,900 MLS PIN
• 2018-03-22 Listed $299,900 MLS PIN
• 2015-07-15 Sold (MLS) $244,000 MLS PIN
• 2015-05-20 Pending — MLS PIN
• 2015-05-07 Listed $253,000 MLS PIN
• 1991-05-14 Sold (Public Records) $122,000 Public Records

Property tax history

+3.8%/yr

Latest (2023): $5,592 · +4.2% YoY. Source: county tax records.