39 Cary Ave Unit 0-14 · Chelsea, MA 02150

$299,000

2 bd · 1.0 ba · 791 sqft · Condo public records · 76 Days on market

Built 1970 $378/sqft · 15% below area Est $351k · 15% under $450/mo HOA · 16% of rent

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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 +14.1/15.0
• Cash flow +9.1/30.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT INVESTMENT! Cash or portfolio loan required. Welcome to this inviting 2-bedroom condo located in the heart of Chelsea! Ideally positioned near a variety of popular restaurants and local shops, this home offers exceptional convenience with close proximity to both the Silver Line and the Commuter Rail—allowing for a quick commute to Haymarket in under 15 minutes or North Station. Inside, you’ll find a spacious layout with comfortable living areas and a kitchen featuring brand-new stainless steel appliances. Step outside to your private porch—perfect for morning coffee or unwinding in the evening. The unit also includes one dedicated parking space, a rare and highly desirable city amenity. Whether you’re a first-time buyer, downsizing, or seeking an investment opportunity, this condo offers flexible potential. Join us at one of our upcoming open houses!

Key facts

• Private porch
• $450 HOA
• Garage

Tags

• PRIVATE PORCH
• DEDICATED PARKING SPACE
• CLOSE PROXIMITY TO SILVER LINE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (7.7% below list).
• Recommended offer: $258k (13.7% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.6% in Chelsea — 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 73/100 on livability (#103 in MA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D+, crime F, cost of living F.
• Chelsea (suburban): math 12% / reading 24% proficiency, ranked #294 of 302 in MA (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 48 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,207 units permitted in Suffolk County in 2024 (1,961 in 5+ unit buildings).
• At $2,760/mo this rent would consume 46% of the median local household income ($72k/yr) (locally 3332% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Suffolk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $258,097 (13.7% 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 76 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 0.92% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.32%
• DSCR: 0.85
• GRM: 9.0

CMA / ARV

• ARV (median comp): $350,722
• List price: $299,000
• Delta: -14.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.05% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-62,805
• Equity at exit: $44,582

10-year hold

• IRR: -15.0%
• Equity multiple: 0.14×
• Total profit: $-72,077
• Equity at exit: $25,852

Cash invested: $83,720 (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 02150

• Home prices YoY: -20.3%
• Rents YoY: 3.0%
• Active inventory: 48
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,760 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$269 /mo · $3,230/yr
• Insurance: −$125
• HOA: −$450
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $-232

Break-even live

Break-even rent $3,053

Max offer price $258,097

Occupancy floor —

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Tudor St Unit 4 Chelsea, MA	1.0	1.0	800	$1,850	$2.31	43d	1	0.13mi
600 Broadway Everett, MA	1.0–2.0	1.0–2.0	722	$3,200	$4.43	5d	17	0.16mi
178 Washington Ave Unit 205 Chelsea, MA	1.0	1.0	650	$2,300	$3.54	43d	1	0.21mi
10 Forsyth St Chelsea, MA	1.0–4.0	1.0–2.0	1176	$2,200	$1.87	5d	3	0.22mi
76 Eleanor St Unit 2 Chelsea, MA	3.0	1.0	950	$3,750	$3.95	43d	1	0.25mi
221 Shurtleff St #6 Chelsea, MA	2.0	1.0	915	$2,295	$2.51	10d	1	0.26mi
48 Washington Ave #203 Chelsea, MA	1.0	1.0	595	$1,900	$3.19	21d	1	0.27mi
241 Walnut St Unit 3 Chelsea, MA	2.0	1.0	750	$2,500	$3.33	24d	1	0.28mi
319 Spruce St Apt 2 Chelsea, MA	1.0	1.0	700	$1,985	$2.84	1d	1	0.28mi
56 Franklin Ave Chelsea, MA	2.0	1.0	687	$2,650	$3.85	18d	2	0.31mi
75 Bellingham St Chelsea, MA	3.0	1.0	1100	$3,100	$2.82	43d	1	0.32mi
33 Bellingham St #2 Chelsea, MA	3.0	1.0	1000	$2,600	$2.60	43d	1	0.33mi
466 Broadway Chelsea, MA	1.0	1.0	600	$1,880	$3.13	17d	1	0.36mi
208 Cherry St Unit 12 Chelsea, MA	1.0	1.0	560	$2,100	$3.75	24d	1	0.37mi
100 Heard St Chelsea, MA	3.0	1.0–2.0	914	$3,617	$3.96	2d	46	0.43mi
165 Cottage St Chelsea, MA	1.0–2.0	1.0–1.5	841	$2,900	$3.45	3d	2	0.47mi
150 Heard St Chelsea, MA	2.0	2.0	1114	$3,560	$3.20	5d	1	0.48mi
150 Heard St Chelsea, MA	2.0	2.0	1114	$3,565	$3.20	43d	1	0.48mi
83 Central Ave Unit 3 Chelsea, MA	3.0	1.0	1001	$2,900	$2.90	18d	1	0.49mi
83 Central Ave Unit 3 Chelsea, MA	3.0	1.0	1001	$2,900	$2.90	43d	1	0.49mi
1 Webster Ave Chelsea, MA	1.0–2.0	1.0–2.0	804	$2,675	$3.33	2d	4	0.49mi
125 Central Ave Unit 3 Chelsea, MA	3.0	1.0	990	$3,100	$3.13	24d	1	0.49mi
180 Central Ave Chelsea, MA	2.0	1.0–2.0	756	$3,307	$4.37	3d	13	0.50mi
220 Spencer Ave #206 Chelsea, MA	1.0	1.0	1086	$2,100	$1.93	43d	1	0.51mi
68 Maverick St Apt 2 Chelsea, MA	3.0	1.0	900	$2,900	$3.22	43d	1	0.51mi
300 Washington Ave Unit 7 Chelsea, MA	2.0	1.0	1000	$2,495	$2.50	43d	1	0.51mi
148 Pearl St Unit 1470143P Chelsea, MA	2.0	1.0	882	$4,326	$4.90	15d	1	0.54mi
140 Pearl St Unit 1470142P Chelsea, MA	2.0	1.0	871	$5,496	$6.31	15d	1	0.55mi
140 Pearl St Unit 1470150P Chelsea, MA	1.0	1.0	678	$3,840	$5.66	16d	1	0.55mi
140 Pearl St Unit 1470146P Chelsea, MA	1.0	1.0	775	$4,944	$6.38	23d	1	0.55mi
140 Pearl St Unit 1470152P Chelsea, MA	1.0	1.0	570	$3,995	$7.01	21d	1	0.55mi
100 Stockton St Chelsea, MA	2.0	1.0–2.0	787	$3,184	$4.04	3d	11	0.57mi
48 Shawmut St #1 Chelsea, MA	3.0	1.0	1100	$3,100	$2.82	5d	1	0.58mi
179 Winnisimmet St Unit 5 Chelsea, MA	1.0	1.0	600	$1,800	$3.00	5d	1	0.64mi
250 Vale St Chelsea, MA	2.0	1.0–2.0	886	$3,509	$3.96	1d	19	0.68mi
255 Vale St Chelsea, MA	2.0	1.0–2.0	903	$3,478	$3.85	1d	19	0.70mi
90 Chestnut St #1 Chelsea, MA	2.0	1.0	1100	$2,800	$2.55	43d	1	0.72mi
25 Division St Chelsea, MA	1.0	1.0	600	$2,295	$3.83	24d	1	0.75mi
25 Division St Chelsea, MA	2.0	1.0	550	$2,295	$4.17	43d	1	0.75mi
118 Garfield Ave Unit 1 Chelsea, MA	2.0	1.0	850	$2,500	$2.94	20d	1	0.79mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $299,000 Active 76 DOM
2. 2026-06-17
   days on market $299,000 Active 75 DOM
3. 2026-06-16
   days on market $299,000 Active 74 DOM
4. 2026-06-15
   days on market $299,000 Active 73 DOM
5. 2026-06-13
   days on market $299,000 Active 71 DOM
6. 2026-06-09
   days on market $299,000 Active 67 DOM
7. 2026-06-08
   days on market $299,000 Active 66 DOM
8. 2026-06-07
   days on market $299,000 Active 65 DOM
9. 2026-06-04
   days on market $299,000 Active 62 DOM
10. 2026-06-03
    days on market $299,000 Active 61 DOM
11. 2026-06-02
    days on market $299,000 Active 60 DOM
12. 2026-06-01
    days on market $299,000 Active 59 DOM
13. 2026-05-31
    days on market $299,000 Active 58 DOM
14. 2026-05-17
    price $299,000 892-char remark

    Show marketing remark (892 chars)

    GREAT INVESTMENT! Cash or portfolio loan required. Welcome to this inviting 2-bedroom condo located in the heart of Chelsea! Ideally positioned near a variety of popular restaurants and local shops, this home offers exceptional convenience with close proximity to both the Silver Line and the Commuter Rail—allowing for a quick commute to Haymarket in under 15 minutes or North Station. Inside, you’ll find a spacious layout with comfortable living areas and a kitchen featuring brand-new stainless steel appliances. Step outside to your private porch—perfect for morning coffee or unwinding in the evening. The unit also includes one dedicated parking space, a rare and highly desirable city amenity. Whether you’re a first-time buyer, downsizing, or seeking an investment opportunity, this condo offers flexible potential. Join us at one of our upcoming open houses!

15. 2026-04-02
    listed $315,000 New 892-char remark

    Show marketing remark (892 chars)

    GREAT INVESTMENT! Cash or portfolio loan required. Welcome to this inviting 2-bedroom condo located in the heart of Chelsea! Ideally positioned near a variety of popular restaurants and local shops, this home offers exceptional convenience with close proximity to both the Silver Line and the Commuter Rail—allowing for a quick commute to Haymarket in under 15 minutes or North Station. Inside, you’ll find a spacious layout with comfortable living areas and a kitchen featuring brand-new stainless steel appliances. Step outside to your private porch—perfect for morning coffee or unwinding in the evening. The unit also includes one dedicated parking space, a rare and highly desirable city amenity. Whether you’re a first-time buyer, downsizing, or seeking an investment opportunity, this condo offers flexible potential. Join us at one of our upcoming open houses!

16. 2016-11-30
    soldstatus $200,000 Sold 275-char remark

    Show marketing remark (275 chars)

    Welcome To This Top Floor W/ Private Porch Off The Living Room. Unit Has Been Recently Renovated Along W/ Building. Hardwood Floors Throughout The Unit Including The 2 Bedrooms. Also This Unit Is Available W/ 1 Off-Street Parking Spot. This Unit Is Vacant And Priced To SELL!

17. 2016-10-07
    status Under Agreement 275-char remark

    Show marketing remark (275 chars)

    Welcome To This Top Floor W/ Private Porch Off The Living Room. Unit Has Been Recently Renovated Along W/ Building. Hardwood Floors Throughout The Unit Including The 2 Bedrooms. Also This Unit Is Available W/ 1 Off-Street Parking Spot. This Unit Is Vacant And Priced To SELL!

18. 2016-10-05
    listed $179,000 New 275-char remark

    Show marketing remark (275 chars)

    Welcome To This Top Floor W/ Private Porch Off The Living Room. Unit Has Been Recently Renovated Along W/ Building. Hardwood Floors Throughout The Unit Including The 2 Bedrooms. Also This Unit Is Available W/ 1 Off-Street Parking Spot. This Unit Is Vacant And Priced To SELL!

19. 2010-01-07
    soldstatus $52,000 Sold
20. 2009-12-02
    historical Under Agreement
21. 2009-11-24
    status Back On Market
22. 2009-11-23
    price $44,900
23. 2009-11-04
    historical Under Agreement
24. 2009-10-20
    listed $47,900 New
25. 1992-12-09
    soldstatus $31,000
26. 1987-07-14
    soldstatus $90,000

ⓘ 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: $3,230 · $269/mo
• Projected year-2 tax: $3,454 · $288/mo
• Expected delta: +$224/yr (+$19/mo · 6.9%)

ⓘ 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 6/10 Major 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,117
• − Mortgage interest: −$16,749
• − Property taxes: −$3,230
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,649
• − Management: −$2,649
• − HOA: −$5,400
• − Depreciation: −$8,698
• Taxable loss: −$7,754
• Est. tax savings @ 24.0%: +$1,861
• After-tax cash flow: $-918/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: Chelsea
• NCES district ID: 2503540
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 24% ▼ -8.00%
• Median HH income: $46,339
• Composite: 15.86/100
• National rank: #9259
• State rank: #294 of 302 in MA

Livability — Chelsea

• Score: 73/100
• State rank: #103
• US rank: #5375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chelsea, MA
• County: Suffolk County · 777,335 people
• City population: 39,908
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 39,908
• Household income: $72,179
• Rent vs Own: 74.0% rent · 26.0% own
• Severe rent burden: 3332.0

Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 915,464 people
• By 2030: 983,798 · +7.5%
• By 2040: 1,119,602 · +22.3%
• By 2050: 1,255,187 · +37.1%
• By 2075: 1,534,434 · +67.6%
• By 2100: 1,748,505 · +91.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% Two or more races 51% White 20% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 9% Dominican 4%
• Common ancestry: Estonian 2% Romanian 1% Lithuanian 1%
• Foreign-born: 45% · Canada, Jamaica, China
• Languages at home: 30% English-only · Spanish 59% Other Indo-European 3% Arabic 2%

Political lean MEDSL · Suffolk

• 2024 margin: Solid D (+52.5) · D 74.8% · R 22.4% · Other 2.8%
• 2008→2024 swing: -3.2pp toward R · 2008: 55.7pp · 2024: 52.5pp
• All cycles: 2024: D+52.5 2020: D+63.2 2016: D+63.0 2012: D+56.7 2008: D+55.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.21%
• Current HPI: 397.5973
• Rent YoY: ▲ 3.05%
• Metro: Boston-Cambridge-Newton, MA-NH
• 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

+232.2% since first listed

13 events — show timeline

• 2026-05-17 Price Changed $299,000 MLS PIN
• 2026-04-02 Listed $315,000 MLS PIN
• 2016-11-30 Sold (MLS) $200,000 MLS PIN
• 2016-10-07 Pending — MLS PIN
• 2016-10-05 Listed $179,000 MLS PIN
• 2010-01-07 Sold (MLS) $52,000 MLS PIN
• 2009-12-02 Contingent — MLS PIN
• 2009-11-24 Relisted — MLS PIN
• 2009-11-23 Price Changed $44,900 MLS PIN
• 2009-11-04 Contingent — MLS PIN
• 2009-10-20 Listed $47,900 MLS PIN
• 1992-12-09 Sold (Public Records) $31,000 Public Records
• 1987-07-14 Sold (Public Records) $90,000 Public Records

Property tax history

+5.8%/yr

Latest (2023): $3,230 · -4.1% YoY. Source: county tax records.