51 Orchard St · Pittsfield, MA 01201

$425,000

8 bd · 4.0 ba · 3,592 sqft · MultiFamily public records · 3 Days on market

Built 1880 5,924 sqft lot Est $316k · 34% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

Here is your opportunity to own this meticulously renovated four family. Every area of this investment property has been updated to modern standards to ensure a long career of maintenance free rentals. All separate brand-new gas heating systems and water heaters. Luxury bathroom renovations of pure style and sophistication. Comfortable and modern kitchens built for many years of enjoyment. Walking distance to Downtown Pittsfield, the Hospital and included in the Tyler Street Transformative Development Initiative District.

Key facts

• Four family property
• New heating systems
• New water heaters

Tags

• METICULOUSLY RENOVATED
• FOUR FAMILY PROPERTY
• NEW HEATING SYSTEMS
• NEW WATER HEATERS
• LVP FLOORING
• REFINISHED WOOD FLOORS

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Asphalt roof
• Construction: Total building area approximately 3592
• Exterior features: Partially fenced yard; Porch; Curbside trash service; Public transportation within 1/2 mile

Interior

• Kitchen: Refrigerator
• Bedrooms: Unit includes a 2-bedroom layout
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: Four full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Refrigerator included; Carpet, linoleum and wood flooring

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $447/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Cap rate 11.3% vs local median 3.7% in Pittsfield — 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 75/100 on livability (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, crime D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morningside Community School (math 8% / reading 22%, grade F, #854 of 938 statewide, top 93%, 355 students, 0% FRL); Theodore Herberg Middle (math 17% / reading 34%, grade F, #232 of 305 statewide, top 76%, 496 students, 0% FRL); Pittsfield High (math 32% / reading 57%, grade F, #203 of 343 statewide, top 60%, 651 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.7%/yr); 278 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• At $5,580/mo this rent would consume 94% of the median local household income ($71k/yr) (locally 1580% 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 $13k of value loss. Plan a longer hold.
• Berkshire County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $119k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 30y 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 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $425,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.04%
• DSCR: 1.80
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $316,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9-11 Myrtle St	0.13mi	8/4.0	3,744 (+4%)	6mo	$420,000	$112	82
52-58 N Pearl St	0.27mi	8/4.0	3,488 (-3%)	8mo	$395,000	$113	76
89-93 Orchard St	0.08mi	9/4.5 (+1)	3,796 (+6%)	14mo	$145,000	$38	69
263 Second St	0.11mi	9/3.0 (+1)	3,744 (+4%)	14mo	$369,000	$99	67
30 Lenox Ave	0.34mi	7/3.0 (-1)	3,360 (-6%)	1mo	$125,000	$37	64
33-35 Plunkett St	0.57mi	8/4.0	3,656 (+2%)	11mo	$405,000	$111	61
42 Brown St	0.45mi	8/4.0	3,696 (+3%)	18mo	$120,000	$32	59
38-40 Hull Ave	0.26mi	8/3.5	3,206 (-11%)	13mo	$250,000	$78	58
66 North Pearl St	0.25mi	8/4.0	4,000 (+11%)	15mo	$301,000	$75	56
76-78 Stoddard Ave	0.25mi	7/3.0 (-1)	3,120 (-13%)	4mo	$275,000	$88	54
1 Rostone Pl	0.46mi	7/3.0 (-1)	3,180 (-12%)	6mo	$380,000	$119	45
44 Robbins Ave	0.70mi	8/3.0	3,260 (-9%)	8mo	$100,000	$31	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 · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.61×
• Total profit: $72,732
• Equity at exit: $63,369

10-year hold

• IRR: 26.4%
• Equity multiple: 3.82×
• Total profit: $335,217
• Equity at exit: $36,746

Cash invested: $119,000 (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 01201

• Rents YoY: 7.7%
• Active inventory: 278
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $5,580 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$213 /mo · $2,559/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,172
• Net cashflow: $1,789

Break-even live

Break-even rent $3,315

Max offer price $425,000

Occupancy floor 63%

Sensitivity live

Price	-10% $2,030	-5% $1,909	+0% $1,789	+5% $1,669	+10% $1,549
Rent	-10% $1,348	-5% $1,569	+0% $1,789	+5% $2,010	+10% $2,230
Rate	-1.0pp $2,003	-0.5pp $1,897	base $1,789	+0.5pp $1,679	+1.0pp $1,567

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,580
Total (4 units)			$5,580

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $425,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $425,000 Active 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: $2,559 · $213/mo
• Projected year-2 tax: $3,893 · $324/mo
• Expected delta: +$1,334/yr (+$111/mo · 52.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $66,960
• − Mortgage interest: −$23,807
• − Property taxes: −$2,559
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,357
• − Management: −$5,357
• − Depreciation: −$12,364
• Taxable income: $15,392
• Est. tax owed @ 24.0%: −$3,694
• After-tax cash flow: $17,775/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

Population outlook (Berkshire County) Hauer SSP2

• Today (2025): 119,723 people
• By 2030: 114,608 · -4.3%
• By 2040: 102,806 · -14.1%
• By 2050: 91,305 · -23.7%
• By 2075: 71,517 · -40.3%
• By 2100: 57,988 · -51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Berkshire

• 2024 margin: Solid D (+39.9) · D 68.9% · R 29.0% · Other 2.1%
• 2008→2024 swing: -12.5pp toward R · 2008: 52.4pp · 2024: 39.9pp
• All cycles: 2024: D+39.9 2020: D+47.1 2016: D+41.5 2012: D+53.7 2008: D+52.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, 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

+809.1% since first listed

13 events — show timeline

• 2026-06-13 Listed $425,000 BCMLS
• 2024-08-30 Rental Removed $1,200 APPFOLIO
• 2024-08-30 Listed for Rent $1,200 APPFOLIO
• 2024-08-30 Sold (MLS) $393,000 BCMLS
• 2024-07-15 Pending — BCMLS
• 2024-07-11 Relisted — BCMLS
• 2024-06-28 Pending — BCMLS
• 2024-06-10 Listed $429,900 BCMLS
• 2023-09-11 Listing Removed — BCMLS
• 2023-06-20 Listed $269,900 BCMLS
• 1997-02-27 Sold (MLS) $22,500 BCMLS
• 1996-09-03 Listed $24,900 BCMLS
• 1987-07-14 Sold (Public Records) $46,750 Public Records

Property tax history

+0.7%/yr

Latest (2023): $2,559 · +3.6% YoY. Source: county tax records.