3 Lakewood Cir · Pittsfield, MA 01201

$99,000

3 bd · 2.0 ba · 970 sqft · Manufactured · 17 Days on market

Built 2006 Fair condition $102/sqft · at area comps Est $99k · at est.

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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
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Move right in and enjoy this new remodeled manufactured home. New dishwasher and microwave. Large primary bedroom with a full bath. Laundry room off the kitchen for easy access. 2 additional bedrooms and full bath. Small deck off the side of the house.

Key facts

• Built 2006
• Listed 17 days

Property features AI

Exterior

• Utilities: 100 amp electric service; Public sewer
• Home design: Updated/remodeled condition; Property subtype: General
• Construction: Fiberglass and asphalt roof; Building area approximately 970
• Exterior features: Deck

Interior

• Kitchen: Refrigerator; Microwave; Dishwasher
• Bedrooms: 5 rooms total (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Vaulted ceilings; Cable available; Accessible full bathroom; First-floor bedroom with bath
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 3.6% 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: Robert T. Capeless Elementary School (math 32% / reading 52%, grade F, #462 of 938 statewide, top 52%, 181 students, 0% FRL); Taconic High (math 27% / reading 37%, grade F, #255 of 343 statewide, top 77%, 860 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); 276 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.76% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (median comp): $99,000
• List price: $99,000
• Delta: —
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Lakewood Cir	0.07mi	3/1.0	1,008 (+4%)	1mo	$99,000	$98	85
16 Lakewood Dr	0.21mi	3/1.5	967 (-0%)	20mo	$90,000	$93	71
30 Lakewood Dr	0.30mi	2/2.0 (-1)	900 (-7%)	1mo	$92,500	$103	69
19 Lakewood Dr	0.23mi	2/1.0 (-1)	1,000 (+3%)	9mo	$103,000	$103	68
44 Lakewood Dr	0.28mi	3/1.5	920 (-5%)	18mo	$93,000	$101	62

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: 8.2%
• Equity multiple: 1.35×
• Total profit: $9,596
• Equity at exit: $14,761

10-year hold

• IRR: 22.4%
• Equity multiple: 3.53×
• Total profit: $70,156
• Equity at exit: $8,560

Cash invested: $27,720 (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 01201

• Rents YoY: 7.7%
• Active inventory: 276
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $262

Break-even live

Break-even rent $1,406

Max offer price $99,000

Occupancy floor 80%

Sensitivity live

Price	-10% $331	-5% $296	+0% $262	+5% $228	+10% $194
Rent	-10% $125	-5% $194	+0% $262	+5% $331	+10% $400
Rate	-1.0pp $312	-0.5pp $287	base $262	+0.5pp $237	+1.0pp $211

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Lenox Ave Unit 2 Pittsfield, MA	2.0	1.0	784	$1,650	$2.10	44d	1	0.95mi
266 Linden St Unit 2R Pittsfield, MA	3.0	1.0	1000	$1,750	$1.75	24d	1	1.07mi
37 Monroe St Pittsfield, MA	2.0	1.0	800	$1,550	$1.94	24d	1	1.19mi

Listing history 1 events

1. 2026-05-06
   listed $99,000 Active 256-char remark

ⓘ 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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 15 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: $20,855
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$5,614
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$2,880
• Taxable income: $1,994
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $2,668/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 · 25 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and value. Painting, updating fixtures, and landscaping would significantly enhance its appeal.

Repairs flagged

• Moderate Exterior siding — Weathered and needs repainting
• Minor Kitchen cabinets — Worn and could benefit from a fresh coat of paint
• Minor Bathroom fixtures — Dated and could be replaced

Value-add opportunities

• Both Paint interior walls and cabinets — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace countertops and fixtures — Modern countertops and fixtures improve functionality and appeal
• Both Landscaping and yard maintenance — A well-maintained yard and deck can significantly increase curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and needs repainting	Moderate	$3,000–15,000
Kitchen cabinets · Worn and could benefit from a fresh coat of paint	Minor	$500–3,000
Bathroom fixtures · Dated and could be replaced	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both Paint interior walls and cabinets — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace countertops and fixtures — Modern countertops and fixtures improve functionality and appeal ↑
• Both Landscaping and yard maintenance — A well-maintained yard and deck can significantly increase curb appeal and property 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

2 events — show timeline

• 2026-05-23 Pending — BCMLS
• 2026-05-06 Listed $99,000 BCMLS