4 Westland St · Worcester, MA 01602

$679,900

4 bd · 2.0 ba · 3,309 sqft · MultiFamily public records · 18 Days on market

Built 1893 4,692 sqft lot Est $668k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +6.7/15.0
• Livability +4.4/5.0
• Rent growth +4.1/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Stunning 4 bedroom, 3 full & 2 half bath Worcester home featuring the perfect blend of historic charm & modern upgrades! Beautiful craftmanship shines in all of the woodwork, the stairways, the high ceilings & exposed brick. This home offers hardwood flooring throughout. The family room has original fireplace & mantle as well as built ins & original windows. The large dining room boasts kitchen views through the breakfast bar/ kitchen island opening. The amazing kitchen offers all stainless steel appliances, updated cabinetry, exterior access & a gas range. Upstairs you will find 3 spacious bedrooms (1 with a fireplace) 2 full baths, 2nd floor laundry & a walk in closet. Primary suite created on the 3rd floor for ultimate privacy including a full bath with soaking tub, a home gym & a coffee wet bar. Finished basement with full bar, game room & 1/2 bath. Spacious front porch perfect for relaxing. Large outdoor patio & parking for 4 down the paver set driveway; soon to be fenced in.

Key facts

• Exposed brick
• Grand staircases
• Original woodwork

Tags

• TURN-OF-THE-CENTURY COLONIAL
• ORIGINAL WOODWORK
• GRAND STAIRCASES
• EXPOSED BRICK
• BUILT-INS
• HARDWOOD FLOORS

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: 3 parking spaces (open)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Entry level rooms primarily on first level; Built as recorded in public records
• Construction: Stone foundation; Lead paint present
• Exterior features: Cleared, level lot; City views

Interior

• Kitchen: Kitchen on first level
• Bedrooms: Master bedroom on third level; Additional bedrooms on second level
• Bathrooms: 3 full bathrooms; 2 half bathrooms; Master bathroom present
• Heating & cooling: Central heating (forced air, natural gas); Central air conditioning
• Interior features: 19 total rooms; Bathroom; Game room; Bonus room; Home office; Den; Full finished basement; Two fireplaces
• Laundry & utility: Laundry on second floor

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $680k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $680k).
• Recommended offer: $670k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 4.1% in Worcester — 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 87/100 on livability (#9 in MA, #312 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: schools C-, cost of living D.
• Worcester (urban): math 17% / reading 30% proficiency, ranked #280 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 29 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $9,200/mo this rent would consume 120% of the median local household income ($92k/yr) (locally 1037% 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 $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $190k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($670k) 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.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $669,701 (1.5% below list)

Questions for the listing agent

1. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.35% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.18%
• DSCR: 1.81
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $668,418
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Newton Ave	0.40mi	4/2.0	3,050 (-8%)	10mo	$615,000	$202	60
40 June St	0.60mi	3/3.0 (-1)	3,160 (-4%)	11mo	$700,000	$222	46
7 Nevada St	0.67mi	5/2.5 (+1)	3,359 (+2%)	21mo	$665,000	$198	41

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 · 6.44% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.56×
• Total profit: $106,443
• Equity at exit: $101,375

10-year hold

• IRR: 24.7%
• Equity multiple: 3.49×
• Total profit: $474,139
• Equity at exit: $58,785

Cash invested: $190,372 (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 01602

• Rents YoY: 6.4%
• Active inventory: 29
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $9,200 high
• Mortgage (P&I): −$3,565
• Tax from tax record: −$534 /mo · $6,414/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,932
• Net cashflow: $2,885

Break-even live

Break-even rent $5,548

Max offer price $679,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
1× unit	4	3	$2,737
▸ 3× units	1	1	$6,462
Total (4 units)			$9,200

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: $169,975
• Closing costs: $20,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Main St Worcester, MA	3.0	1.0–2.5	2046	$4,149	$2.03	23d	6	0.84mi
8 Minthorne St Worcester, MA	3.0	2.0	2663	$3,000	$1.13	43d	1	1.30mi

Listing history 14 events

1. 2026-06-18
   days on market $679,900 Active 18 DOM
2. 2026-06-17
   days on market $679,900 Active 17 DOM
3. 2026-06-16
   days on market $679,900 Active 16 DOM
4. 2026-06-15
   days on market $679,900 Active 15 DOM
5. 2026-06-14
   days on market $679,900 Active 13 DOM
6. 2026-06-10
   days on market $679,900 Active 10 DOM
7. 2026-06-09
   days on market $679,900 Active 9 DOM
8. 2026-06-08
   days on market $679,900 Active 8 DOM
9. 2026-06-07
   statusdays on market $679,900 Active 7 DOM
10. 2026-06-05
    days on market $679,900 New 4 DOM
11. 2026-06-03
    days on market $679,900 New 3 DOM
12. 2026-06-02
    days on market $679,900 New 2 DOM
13. 2026-06-01
    remarks 699-char remark
14. 2026-06-01
    listed $679,900 New 1 DOM

ⓘ 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: $6,414 · $534/mo
• Projected year-2 tax: $7,388 · $616/mo
• Expected delta: +$974/yr (+$81/mo · 15.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥93°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $110,400
• − Mortgage interest: −$38,085
• − Property taxes: −$6,414
• − Insurance: −$3,400
• − Repairs & maintenance: −$8,832
• − Management: −$8,832
• − Depreciation: −$19,779
• Taxable income: $25,059
• Est. tax owed @ 24.0%: −$6,014
• After-tax cash flow: $28,603/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: Worcester
• NCES district ID: 2513230
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $45,063
• Composite: 20.3/100
• National rank: #8615
• State rank: #280 of 302 in MA

Livability — Worcester

• Score: 87/100
• State rank: #9
• US rank: #312

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worcester, MA
• County: Worcester County · 487,911 people
• City population: 207,324
• Metro: Worcester, MA-CT
• Population (ZIP): 27,092
• Household income: $91,764
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1037.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 11% Black 9% Asian 6%
• Hispanic origin (detail): Puerto Rican 8% Dominican 2%
• Common ancestry: Lithuanian 4% Romanian 4% Scotch-Irish 2%
• Foreign-born: 19% · Canada, Vietnam, Jamaica
• Languages at home: 70% English-only · Spanish 11% Other Indo-European 9% Vietnamese 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: ▼ -330.19%
• Current HPI: 294.2528
• Rent YoY: ▲ 6.44%
• 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

+223.8% since first listed

7 events — show timeline

• 2026-06-01 Listed $679,900 MLS PIN
• 2024-06-24 Sold (MLS) $599,900 MLS PIN
• 2024-05-02 Pending — MLS PIN
• 2024-04-25 Listed $599,900 MLS PIN
• 2015-06-24 Sold (MLS) $210,000 MLS PIN
• 2015-05-07 Pending — MLS PIN
• 2015-04-15 Listed $210,000 MLS PIN

Property tax history

-1.0%/yr

Latest (2023): $6,414 · +10.4% YoY. Source: county tax records.