40 Merrick St Unit A · Worcester, MA 01609

$409,000

3 bd · 1.5 ba · 1,536 sqft · MultiFamily public records · 27 Days on market

Built 2007 3,688 sqft lot Est $593k · 31% under

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.3/10.0
• Livability +4.4/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Discover this beautifully updated 3-bedroom, 1.5-bath attached Colonial, perfectly located near the new Worcester stadium and surrounded by some of the city’s most breathtaking destinations. This young home features a large living room with gleaming hardwood floors, and a spacious kitchen equipped with stainless steel appliances. The dining room overlooks a private patio directly off the kitchen — ideal for family meals and entertaining. Upstairs, you’ll find 3 spacious bedrooms and 1.5 baths tucked away from the main living area, giving you the privacy and comfort you deserve. Additional highlights include a two-car garage for year-round convenience, plus a patio overlook

Key facts

• Level yard
• Spacious kitchen
• Large living room

Tags

• UPDATED COLONIAL
• LARGE LIVING ROOM
• SPACIOUS KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIVATE PATIO
• LEVEL YARD

Property features AI

Finance

• HOA & community: Community near public transportation, shopping, parks, walk/jog trails, medical facilities, highway access, houses of worship, public schools, T-Station, and university

Exterior

• Parking: Attached garage with 2 garage spaces; 2 covered spaces; 2 open parking spaces; Total of 4 parking spaces
• Utilities: Public water; Public sewer; 220V electrical service
• Home design: Single-family residence; Attached property
• Construction: Concrete perimeter foundation; Built as recorded in public records
• Exterior features: Public road frontage; Paved driveway and paved surfaces; Off-street parking; Under-cover parking

Interior

• Kitchen: Gas water heater
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Five total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $409k.

Deal economics

• At list price, monthly cash flow is $999 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $409k).
• Recommended offer: $403k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 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.
• Zoned schools: Elm Park Community (math 4% / reading 24%, grade F, #881 of 938 statewide, top 94%, 415 students, 0% FRL); Forest Grove Middle (math 19% / reading 31%, grade F, #234 of 305 statewide, top 77%, 897 students, 0% FRL); Doherty Memorial High (math 37% / reading 47%, grade F, #214 of 343 statewide, top 65%, 1,344 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 50 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $4,629/mo this rent would consume 81% of the median local household income ($68k/yr) (locally 1183% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $115k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $170k; list at $409k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $402,865 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.13% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $592,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Dayton Pl	0.42mi	4/2.0 (+1)	1,425 (-7%)	10mo	$550,000	$386	53

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-886
• Equity at exit: $60,983

10-year hold

• IRR: 9.8%
• Equity multiple: 1.77×
• Total profit: $88,393
• Equity at exit: $35,363

Cash invested: $114,520 (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 01609

• Home prices YoY: -15.9%
• Rents YoY: 3.4%
• Active inventory: 50
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $4,629 high
• Mortgage (P&I): −$2,145
• Tax from tax record: −$342 /mo · $4,108/yr
• Insurance: −$170
• HOA: −$0
• Vacancy / Maint / Mgmt: −$972
• Net cashflow: $999

Break-even live

Break-even rent $3,364

Max offer price $409,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,231	-5% $1,115	+0% $999	+5% $884	+10% $768
Rent	-10% $634	-5% $816	+0% $999	+5% $1,182	+10% $1,365
Rate	-1.0pp $1,205	-0.5pp $1,103	base $999	+0.5pp $893	+1.0pp $786

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,630
Total (2 units)			$4,629

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: $102,250
• Closing costs: $12,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hawley St Unit 1 Worcester, MA	3.0	2.0	1948	$1,075	$0.55	46d	1	0.11mi
15 Hawley St Unit 2 Worcester, MA	3.0	2.0	1908	$1,050	$0.55	46d	1	0.11mi
23 Bellevue St Apt 1 Worcester, MA	3.0	1.0	1100	$2,400	$2.18	25d	1	0.12mi
23 Bellevue St Apt 3 Worcester, MA	4.0	1.0	1200	$2,500	$2.08	25d	1	0.12mi
23 Bellevue St Unit 2 Worcester, MA	3.0	1.0	1100	$2,450	$2.23	25d	1	0.12mi
9 Townsend St Unit 3 Worcester, MA	4.0	1.0	1500	$2,200	$1.47	46d	1	0.12mi
1 Pelham St Unit B Worcester, MA	3.0	3.0	1656	$2,895	$1.75	46d	1	0.14mi
17 Congress St Unit 2 Worcester, MA	3.0	1.0	1100	$1,849	$1.68	16d	1	0.17mi
127 Austin St Unit 3 Worcester, MA	4.0	1.0	1100	$1,900	$1.73	25d	1	0.17mi
230 Pleasant St Unit 1 Worcester, MA	4.0	1.0	1200	$2,350	$1.96	46d	1	0.21mi
230 Pleasant St Unit 2 Worcester, MA	3.0	1.0	1600	$2,150	$1.34	46d	1	0.21mi
10 Cottage St Unit 1 Worcester, MA	3.0	1.0	1250	$2,500	$2.00	46d	1	0.24mi
47 Piedmont St Unit 1 Worcester, MA	3.0	1.0	1300	$2,200	$1.69	46d	1	0.31mi
47 Piedmont St #2 Worcester, MA	3.0	1.0	1300	$2,100	$1.62	46d	1	0.31mi
36 Cedar St Unit 2 Worcester, MA	2.0	2.0	1500	$2,650	$1.77	46d	1	0.39mi
36 Cedar St Unit 2A Worcester, MA	2.0	2.0	1500	$2,300	$1.53	25d	1	0.39mi
345 Park Ave Unit 3R Worcester, MA	2.0	1.0	1100	$2,000	$1.82	16d	1	0.41mi
345 Park Ave Unit 3R Worcester, MA	2.0	1.0	1100	$2,200	$2.00	46d	1	0.41mi
24 Somerset St Unit 2 Worcester, MA	2.0	1.0	1440	$1,900	$1.32	46d	1	0.43mi
36 Roxbury St Unit 1 Worcester, MA	3.0	1.5	1100	$2,450	$2.23	21d	1	0.48mi
54 Woodland St Apt 3 Worcester, MA	4.0	1.0	1550	$2,350	$1.52	25d	1	0.51mi
17 Hermon St Worcester, MA	2.0	1.0–2.0	752	$2,800	$3.72	23d	11	0.51mi
6 Chatham St Worcester, MA	2.0	1.0–2.0	943	$3,700	$3.92	46d	3	0.53mi
5 Madison St Worcester, MA	2.0	1.0–2.0	811	$3,720	$4.59	25d	1	0.57mi
284 Highland St #3 Worcester, MA	2.0	2.0	2000	$4,900	$2.45	23d	1	0.58mi
5 Mount Pleasant St Apt 2 Worcester, MA	3.0	1.0	1422	$2,500	$1.76	46d	1	0.63mi
5 Mount Pleasant St Unit 3 Worcester, MA	3.0	1.0	1422	$2,200	$1.55	16d	1	0.63mi
123 Mayfield St Unit 2 Worcester, MA	2.0	1.0	1164	$1,600	$1.37	25d	1	0.64mi
17 Longfellow Rd Worcester, MA	3.0	1.5	1774	$4,000	$2.25	25d	1	0.65mi
50 Franklin St Worcester, MA	3.0	1.0	690	$2,500	$3.62	16d	29	0.65mi
14 Benefit Ter Unit 2 Worcester, MA	4.0	1.0	1200	$2,400	$2.00	23d	1	0.65mi
16 Norwich St Unit 1 Worcester, MA	2.0	2.0	1280	$2,275	$1.78	25d	1	0.68mi
58 Longfellow Rd Unit 2 Worcester, MA	3.0	2.0	1800	$3,000	$1.67	46d	1	0.69mi
5 Oberlin St #2 Worcester, MA	2.0	1.0	1200	$1,950	$1.62	46d	1	0.69mi
17 Wachusett St Unit 3 Worcester, MA	3.0	1.0	1120	$2,150	$1.92	25d	1	0.70mi
5 Suburban Rd Worcester, MA	1.0–2.0	1.0–2.0	1250	$2,995	$2.40	16d	10	0.72mi
97 Courtland St Unit 2 Worcester, MA	3.0	1.0	1141	$2,100	$1.84	25d	1	0.74mi
352 Chandler St Unit 1 Worcester, MA	3.0	1.0	1256	$2,300	$1.83	46d	1	0.74mi
23 Lancaster St Worcester, MA	3.0	1.5	1768	$2,800	$1.58	16d	1	0.76mi
346 Lovell St Unit 3 Worcester, MA	3.0	2.0	1500	$2,250	$1.50	46d	1	0.76mi

Listing history 20 events

1. 2026-06-23
   days on market $409,000 Active 27 DOM
2. 2026-06-22
   days on market $409,000 Active 26 DOM
3. 2026-06-18
   days on market $409,000 Active 23 DOM
4. 2026-06-17
   days on market $409,000 Active 22 DOM
5. 2026-06-16
   days on market $409,000 Active 21 DOM
6. 2026-06-15
   statusdays on market $409,000 Active 20 DOM
7. 2026-06-14
   pricestatusdays on market $409,000 Price Changed 18 DOM
8. 2026-06-10
   days on market $429,000 Active 15 DOM
9. 2026-06-09
   days on market $429,000 Active 14 DOM
10. 2026-06-08
    days on market $429,000 Active 13 DOM
11. 2026-06-07
    days on market $429,000 Active 12 DOM
12. 2026-06-05
    days on market $429,000 Active 9 DOM
13. 2026-06-03
    days on market $429,000 Active 8 DOM
14. 2026-06-02
    days on market $429,000 Active 7 DOM
15. 2026-06-01
    days on market $429,000 Active 6 DOM
16. 2026-05-31
    days on market $429,000 Active 5 DOM
17. 2026-05-31
    statusdays on market $429,000 Active 4 DOM
18. 2026-05-26
    listed $429,000 New
19. 2007-08-30
    soldstatus $170,000
20. 1993-11-04
    soldstatus $75,000

ⓘ 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: $4,108 · $342/mo
• Projected year-2 tax: $4,569 · $381/mo
• Expected delta: +$461/yr (+$38/mo · 11.2%)

ⓘ 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: $55,548
• − Mortgage interest: −$22,910
• − Property taxes: −$4,108
• − Insurance: −$2,045
• − Repairs & maintenance: −$4,444
• − Management: −$4,444
• − Depreciation: −$11,898
• Taxable income: $5,699
• Est. tax owed @ 24.0%: −$1,368
• After-tax cash flow: $10,624/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): 22,047
• Household income: $68,381
• Rent vs Own: 59.9% rent · 40.1% own
• Severe rent burden: 1183.0

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 61% Hispanic / Latino 18% Two or more races 11% Asian 10% Black 7%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 7% Romanian 4% Estonian 1%
• Foreign-born: 22% · Canada, China, Vietnam
• Languages at home: 66% English-only · Spanish 15% Other Indo-European 8% Vietnamese 3%

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: ▼ -51.84%
• Current HPI: 274.8097
• Rent YoY: ▲ 3.38%
• 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

+472.0% since first listed

3 events — show timeline

• 2026-05-26 Listed $429,000 MLS PIN
• 2007-08-30 Sold (Public Records) $170,000 Public Records
• 1993-11-04 Sold (Public Records) $75,000 Public Records

Property tax history

+4.1%/yr

Latest (2023): $4,108 · +9.1% YoY. Source: county tax records.