336 Walnut St · North Adams, MA 01247

$74,900

5 bd · 3.0 ba · 1,530 sqft · MultiFamily public records · 12 Days on market

Built 1880 8,712 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.9/10.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This unique property offers a rare opportunity to create the home or investment property you've envisioned. Formerly a 3-family residence, the home has been completely stripped down to the interior framing, providing a clean slate for renovation and customization. The property has already been cleaned out and features a brand-new roof, giving buyers a strong head start on the restoration process. With endless potential to redesign the layout and finishes to your exact specifications, this is an ideal project for investors, contractors, or buyers looking to build equity and bring their vision to life. With a double lot and privacy of woods in the rear and a one car garage, this property is

Key facts

• Privacy of woods
• Brand new roof
• Double lot

Tags

• BRAND NEW ROOF
• DOUBLE LOT
• PRIVACY OF WOODS

Property features AI

Exterior

• Parking: Garaged and off-street parking; 1 garage space
• Utilities: 100 amp electric service; Public sewer
• Home design: Fixer condition
• Construction: Building area approximately 1530
• Exterior features: Public transportation within 1/2 mile; Deciduous shade trees; School bus access

Interior

• Bedrooms: Accessible bedroom
• Bathrooms: 3 full bathrooms
• Interior features: Accessible bedroom; Total of 14 rooms

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 24.4% vs local median 5.8% in North Adams — 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 55/100 on livability (#242 in MA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety D, crime F.
• North Adams (town): math 14% / reading 29% proficiency, ranked #291 of 302 in MA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Brayton (math 8% / reading 27%, grade F, #819 of 938 statewide, top 88%, 228 students, 0% FRL); Drury High (math 16% / reading 24%, grade F, #308 of 343 statewide, top 91%, 493 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 99 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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.
• Current owner paid $18k; list at $75k implies a 305% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1880 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 2.87% ✓
• Cap rate: 24.44%
• Cash-on-cash: 64.82%
• DSCR: 3.88
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $160,650
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
297 Walnut St	0.08mi	5/2.0	1,700 (+11%)	6mo	$150,000	$88	68
99 Meadow St	0.73mi	4/2.0 (-1)	1,555 (+2%)	10mo	$163,000	$105	46
126 W Main St	0.68mi	5/3.0	1,668 (+9%)	10mo	$310,000	$186	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 64.0%
• Equity multiple: 3.86×
• Total profit: $60,082
• Equity at exit: $11,168

10-year hold

• IRR: 68.4%
• Equity multiple: 7.94×
• Total profit: $145,485
• Equity at exit: $6,476

Cash invested: $20,972 (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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,151 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$143 /mo · $1,712/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $1,133

Break-even live

Break-even rent $717

Max offer price $74,900

Occupancy floor 42%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-02
   status $74,900 Pending 12 DOM
2. 2026-06-01
   days on market $74,900 Active 12 DOM
3. 2026-05-31
   days on market $74,900 Active 11 DOM
4. 2026-05-31
   days on market $74,900 Active 10 DOM
5. 2026-05-19
   listed $74,900 Active
6. 2026-04-11
   historical
7. 2025-10-27
   listed $89,000 Active
8. 2023-06-15
   status Pending
9. 2023-06-01
   historical
10. 2023-03-29
    price $69,999
11. 2023-03-26
    price $84,999
12. 2023-03-23
    price $99,999
13. 2023-03-22
    listed $119,999 Active
14. 2011-10-14
    soldstatus $18,500
15. 2010-06-25
    listed $19,000
16. 2005-07-13
    soldstatus $125,000
17. 2005-07-13
    soldstatus $128,000
18. 2005-02-16
    listed $135,000
19. 2001-04-30
    soldstatus $65,000

ⓘ 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: $1,712 · $143/mo
• Projected year-2 tax: $1,712 · $143/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,816
• − Mortgage interest: −$4,196
• − Property taxes: −$1,712
• − Insurance: −$374
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$2,179
• Taxable income: $13,225
• Est. tax owed @ 24.0%: −$3,174
• After-tax cash flow: $10,421/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: North Adams
• NCES district ID: 2508670
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $36,746
• Composite: 17.83/100
• National rank: #9006
• State rank: #291 of 302 in MA

Livability — North Adams

• Score: 55/100
• State rank: #242
• US rank: #23506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Adams, MA
• City population: 14,967
• Population (ZIP): 14,967

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 15% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 0%

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: ▼ -6.22%
• Current HPI: 298.8949
• Rent YoY: —
• Metro: —
• 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

+15.2% since first listed

15 events — show timeline

• 2026-05-19 Listed $74,900 BCMLS
• 2026-04-11 Listing Removed — BCMLS
• 2025-10-27 Listed $89,000 BCMLS
• 2023-06-15 Pending — BCMLS
• 2023-06-01 Listing Removed — BCMLS
• 2023-03-29 Price Changed $69,999 BCMLS
• 2023-03-26 Price Changed $84,999 BCMLS
• 2023-03-23 Price Changed $99,999 BCMLS
• 2023-03-22 Listed $119,999 BCMLS
• 2011-10-14 Sold (MLS) $18,500 BCMLS
• 2010-06-25 Listed $19,000 BCMLS
• 2005-07-13 Sold (Public Records) $128,000 Public Records
• 2005-07-13 Sold (MLS) $125,000 BCMLS
• 2005-02-16 Listed $135,000 BCMLS
• 2001-04-30 Sold (Public Records) $65,000 Public Records

Property tax history

+0.8%/yr

Latest (2023): $1,712 · -4.7% YoY. Source: county tax records.