244 Main St · Northampton, MA 01060

$1,990,000

None bd · 3.0 ba · 16,980 sqft · MultiFamily · 239 Days on market

Built 1850 Good condition 6,974 sqft lot

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Rent growth +4.0/5.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Exceptional mixed-use redevelopment opportunity in the heart of downtown Northampton. This historic 2-building property, offers approximately 16,980 SF with 22 on-site parking spaces, elevator, and architectural plans for a condo conversion with complementary commercial uses. The redesign concept includes 7 residential units, 5 in the Annex and 2 in the Roundhouse, along with 2 commercial spaces: a café and a wellness-focused gym/spa. Residential units are primarily 2-bedroom, 2-bath luxury layouts, including a 2-level, townhouse-style unit, designed for high-quality in-town living. The existing steel pedestrian bridge connecting the Roundhouse directly to Main Street, providing strong visibility and walkability. The café includes a mezzanine level, and the gym/spa is planned for the lower level with multiple means of egress. Steps to shops, dining, bike path, Amtrak to NYC/Boston, and I-91. Located in an Opportunity Zone with potential CPA and historic tax credit eligibility.

Key facts

• Architectural plans
• Cafe components
• Wellness components

Tags

• HISTORIC TWO-BUILDING PROPERTY
• ARCHITECTURAL PLANS
• WELLNESS COMPONENTS
• CAFE COMPONENTS
• GROUND-FLOOR RESIDENTIAL USE
• GYM SAUNA

What this means for you Summary

Snapshot

• This is a ?-bed/3.0-bath multifamily listed at $1.99M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($22k rent vs $1.99M).
• Recommended offer: $1.75M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 2.2% in Northampton — 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 78/100 on livability (#49 in MA, #2,534 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment A; Watch: crime D+, amenities F, cost of living F.
• Northampton (suburban): math 36% / reading 53% proficiency, ranked #175 of 302 in MA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.9%/yr); 41 active listings in the ZIP; solid renter incomes; 349 units permitted in Hampshire County in 2024 (185 in 5+ unit buildings).
• At $21,949/mo this rent would consume 343% of the median local household income ($77k/yr) (locally 1269% 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.
• Hampshire County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $557k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($1.75M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,751,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-28,460
• Equity at exit: $296,715

10-year hold

• IRR: 11.2%
• Equity multiple: 2.00×
• Total profit: $554,550
• Equity at exit: $172,059

Cash invested: $557,200 (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 01060

• Rents YoY: 5.9%
• Active inventory: 41
• Price-to-rent: 68.0×

Monthly cashflow live

• Estimated rent: $21,949 medium
• Mortgage (P&I): −$10,436
• Tax est. 1.5%: −$2,488 /mo · $29,850/yr
• Insurance: −$829
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,609
• Net cashflow: $3,587

Break-even live

Break-even rent $17,408

Max offer price $1,990,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	2	$17,073
▸ 2× units	2	1	$4,878
Total (9 units)			$21,949

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: $497,500
• Closing costs: $59,700
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $1,990,000 Active 239 DOM
2. 2026-06-17
   days on market $1,990,000 Active 238 DOM
3. 2026-06-16
   days on market $1,990,000 Active 237 DOM
4. 2026-06-15
   days on market $1,990,000 Active 236 DOM
5. 2026-06-14
   days on market $1,990,000 Active 234 DOM
6. 2026-06-13
   days on market $1,990,000 Active 233 DOM
7. 2026-06-10
   days on market $1,990,000 Active 231 DOM
8. 2026-06-09
   days on market $1,990,000 Active 230 DOM
9. 2026-06-08
   days on market $1,990,000 Active 229 DOM
10. 2026-06-07
    days on market $1,990,000 Active 228 DOM
11. 2026-06-05
    days on market $1,990,000 Active 225 DOM
12. 2026-06-03
    days on market $1,990,000 Active 224 DOM
13. 2026-06-02
    days on market $1,990,000 Active 223 DOM
14. 2026-06-01
    days on market $1,990,000 Active 222 DOM
15. 2026-05-31
    days on market $1,990,000 Active 221 DOM
16. 2026-05-30
    days on market $1,990,000 Active 220 DOM
17. 2025-10-22
    listed $1,990,000 New 1005-char remark

    Show marketing remark (1005 chars)

    Exceptional mixed-use redevelopment opportunity in the heart of downtown Northampton. This historic 2-building property, offers approximately 16,980 SF with 22 on-site parking spaces, elevator, and architectural plans for a condo conversion with complementary commercial uses. The redesign concept includes 7 residential units, 5 in the Annex and 2 in the Roundhouse, along with 2 commercial spaces: a café and a wellness-focused gym/spa. Residential units are primarily 2-bedroom, 2-bath luxury layouts, including a 2-level, townhouse-style unit, designed for high-quality in-town living. The existing steel pedestrian bridge connecting the Roundhouse directly to Main Street, providing strong visibility and walkability. The café includes a mezzanine level, and the gym/spa is planned for the lower level with multiple means of egress. Steps to shops, dining, bike path, Amtrak to NYC/Boston, and I-91. Located in an Opportunity Zone with potential CPA and historic tax credit eligibility.

ⓘ 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

• 🌡 Heat 4/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $263,388
• − Mortgage interest: −$111,471
• − Property taxes: −$29,850
• − Insurance: −$9,950
• − Repairs & maintenance: −$21,071
• − Management: −$21,071
• − Depreciation: −$57,891
• Taxable income: $12,084
• Est. tax owed @ 24.0%: −$2,900
• After-tax cash flow: $40,147/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 · 6 photos

Good 75/100 Moderate rehab

This historic mixed-use property offers a good investment opportunity with moderate rehabilitation needs and significant potential for value appreciation through a condo conversion and landscaping improvements.

Repairs flagged

• Minor Deck — Some debris on the deck
• Minor Stairs — Some debris on the stairs

Value-add opportunities

• Both Condo conversion — High-quality living spaces with potential for luxury rentals
• Both Landscaping improvements — Enhanced curb appeal and increased property value
• Both HVAC upgrade — Improved comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Some debris on the deck	Minor	$500–3,000
Stairs · Some debris on the stairs	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Condo conversion — High-quality living spaces with potential for luxury rentals ↑
• Both Landscaping improvements — Enhanced curb appeal and increased property value ↑
• Both HVAC upgrade — Improved comfort and energy efficiency ↑

ⓘ 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: Northampton
• NCES district ID: 2508850
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $57,335
• Composite: 38.86/100
• National rank: #4102
• State rank: #175 of 302 in MA

Livability — Northampton

• Score: 78/100
• State rank: #49
• US rank: #2534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Northampton, MA
• County: Hampshire County · 76,035 people
• City population: 16,492
• Metro: Springfield, MA
• Population (ZIP): 16,492
• Household income: $76,848
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1269.0

Population outlook (Hampshire County) Hauer SSP2

• Today (2025): 166,577 people
• By 2030: 168,928 · +1.4%
• By 2040: 171,197 · +2.8%
• By 2050: 175,542 · +5.4%
• By 2075: 199,884 · +20.0%
• By 2100: 211,819 · +27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 8% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 7% Italian 4% Lithuanian 4%
• Foreign-born: 8% · Canada, China, Jamaica
• Languages at home: 86% English-only · Spanish 9% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Hampshire

• 2024 margin: Solid D (+41.9) · D 69.5% · R 27.6% · Other 2.9%
• 2008→2024 swing: -3.6pp toward R · 2008: 45.6pp · 2024: 41.9pp
• All cycles: 2024: D+41.9 2020: D+46.8 2016: D+39.5 2012: D+43.8 2008: D+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -200.05%
• Current HPI: 315.842
• Rent YoY: ▲ 5.87%
• Metro: Springfield, MA
• 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

1 event — show timeline

• 2025-10-22 Listed $1,990,000 MLS PIN