1 Pondview Dr Unit C3 · Pittsfield, MA 01201

$189,900

2 bd · 1.0 ba · 1,040 sqft · Condo · 122 Days on market

Built 1987 Fair condition $183/sqft · 20% below area Est $237k · 20% under $400/mo HOA · 21% of rent ↓ 37% since listing

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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 +15.0/15.0
• Cash flow +7.8/30.0
• 1% rule +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom condo in James Meadows featuring fireplace, loft bedroom, storage room, and deck all conveniently located close to Allendale area.

Key facts

• Storage room
• Loft bedroom
• Deck

Tags

• LOFT BEDROOM
• STORAGE ROOM
• DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (15.9% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $160k (15.9% below list) — sets the bar for cash-flow.
• Cap rate 5.0% 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: Williams (math 37% / reading 67%, grade C-, #287 of 938 statewide, top 33%, 256 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.
• Zoned-school proficiency averages 41% at this address vs 26% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Pittsfield average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.7%/yr); 278 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• This rent runs 32% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $159,701 (15.9% 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 122 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.00% ✓
• Cap rate: 4.97%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• GRM: 8.3

CMA / ARV

• ARV (median comp): $236,953
• List price: $189,900
• Delta: -19.86%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.72% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.35×
• Total profit: $-34,320
• Equity at exit: $28,315

10-year hold

• IRR: -0.7%
• Equity multiple: 0.94×
• Total profit: $-3,041
• Equity at exit: $16,419

Cash invested: $53,172 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,903 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$400
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $-209

Break-even live

Break-even rent $2,168

Max offer price $159,701

Occupancy floor —

Sensitivity live

Price	-10% $-77	-5% $-143	+0% $-209	+5% $-274	+10% $-340
Rent	-10% $-359	-5% $-284	+0% $-209	+5% $-134	+10% $-58
Rate	-1.0pp $-113	-0.5pp $-160	base $-209	+0.5pp $-258	+1.0pp $-308

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Imperial Ave Pittsfield, MA	3.0	1.0	1235	$2,745	$2.22	45d	1	0.55mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-05
   statusdays on market $189,900 Pending 122 DOM
2. 2026-06-02
   days on market $189,900 Active 120 DOM
3. 2026-06-01
   days on market $189,900 Active 119 DOM
4. 2026-05-31
   days on market $189,900 Active 118 DOM
5. 2026-05-30
   days on market $189,900 Active 117 DOM
6. 2026-03-25
   price $189,900 142-char remark

   Show marketing remark (142 chars)

   Two bedroom condo in James Meadows featuring fireplace, loft bedroom, storage room, and deck all conveniently located close to Allendale area.

7. 2026-02-25
   price $209,900 142-char remark

   Show marketing remark (142 chars)

   Two bedroom condo in James Meadows featuring fireplace, loft bedroom, storage room, and deck all conveniently located close to Allendale area.

8. 2026-01-31
   listed $229,900 Active 142-char remark

   Show marketing remark (142 chars)

   Two bedroom condo in James Meadows featuring fireplace, loft bedroom, storage room, and deck all conveniently located close to Allendale area.

9. 2025-10-22
   historical
10. 2025-10-01
    price $229,900
11. 2025-10-01
    listed $299,900 Active

ⓘ 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

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 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: $22,840
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − HOA: −$4,800
• − Depreciation: −$5,524
• Taxable loss: −$5,574
• Est. tax savings @ 24.0%: +$1,338
• After-tax cash flow: $-1,167/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 · 12 photos

Fair 45/100 Moderate rehab

This two-bedroom condo requires moderate renovations, including painting, new flooring, and exterior siding replacement, to improve its condition and value.

Repairs flagged

• Major Exterior siding — Weathered and in need of replacement
• Major Carpeted floors — Worn and in need of replacement
• Major Paint — Faded and in need of repainting

Value-add opportunities

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics
• Both New flooring — New flooring can improve the overall look and feel of the home
• Both Exterior siding replacement — A new exterior can significantly improve the home's curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of replacement	Major	$15,000–50,000
Carpeted floors · Worn and in need of replacement	Major	$15,000–50,000
Paint · Faded and in need of repainting	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both New flooring — New flooring can improve the overall look and feel of the home ↑
• Both Exterior siding replacement — A new exterior can significantly improve the home's curb appeal and value ↑

ⓘ 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: 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

-36.7% since first listed

6 events — show timeline

• 2026-03-25 Price Changed $189,900 BCMLS
• 2026-02-25 Price Changed $209,900 BCMLS
• 2026-01-31 Listed $229,900 BCMLS
• 2025-10-22 Listing Removed — BCMLS
• 2025-10-01 Price Changed $229,900 BCMLS
• 2025-10-01 Listed $299,900 BCMLS