39-41 Bartlett Ave · Pittsfield, MA 01201

$365,000

15 bd · 12.0 ba · 3,727 sqft · MultiFamily · 51 Days on market

Built 1860 Fair condition 9,148 sqft lot $98/sqft · at area comps Est $356k · 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 +6.4/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Basement storage rooms.

Key facts

• Vinyl siding
• Replacement windows
• 9,148 sq ft lot

Tags

• THREE-FAMILY VICTORIAN
• INVESTMENT OPPORTUNITY
• SEPARATE NATURAL GAS UTILITIES
• VINYL SIDING
• REPLACEMENT WINDOWS
• WELL-LOCATED MULTI-FAMILY

Property features AI

Exterior

• Utilities: Circuit breaker electric service; Individual electric meters; Public sewer
• Home design: Multi-unit building (total building area listed)
• Construction: Fiberglass roof; Asphalt roof
• Exterior features: Porch; Curbside recycling; Public trash collection; Public transportation within 1/2 mile

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Unit with 1 bedroom (M2M unit)
• Flooring: Laminate flooring; Linoleum flooring
• Bathrooms: 4 full bathrooms total
• Heating & cooling: Electric heating; Natural gas heating; Heating present
• Interior features: Cable available; Pets allowed; Accessible bedroom; Accessible full bathroom
• Laundry & utility: Laundry: other (unspecified)

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $365k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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: Egremont (math 37% / reading 52%, grade F, #421 of 938 statewide, top 48%, 382 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 44% at this address vs 26% district-wide (+18 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; 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 $3k of loan paydown is wiped out by about $11k 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 $102k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y 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 $93k; list at $365k implies a 292% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.93% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.56%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (median comp): $356,411
• List price: $365,000
• Delta: 2.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 36.5%
• Equity multiple: 2.65×
• Total profit: $168,832
• Equity at exit: $54,423

10-year hold

• IRR: 45.5%
• Equity multiple: 6.42×
• Total profit: $554,031
• Equity at exit: $31,559

Cash invested: $102,200 (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: 13.0×

Monthly cashflow live

• Estimated rent: $7,027 medium
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,475/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,476
• Net cashflow: $3,029

Break-even live

Break-even rent $3,193

Max offer price $365,000

Occupancy floor 52%

Sensitivity live

Price	-10% $3,281	-5% $3,155	+0% $3,029	+5% $2,903	+10% $2,777
Rent	-10% $2,474	-5% $2,751	+0% $3,029	+5% $3,306	+10% $3,584
Rate	-1.0pp $3,213	-0.5pp $3,122	base $3,029	+0.5pp $2,934	+1.0pp $2,838

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$7,026
Total (3 units)			$7,027

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $365,000 Active 51 DOM
2. 2026-06-19
   days on market $365,000 Active 49 DOM
3. 2026-06-18
   days on market $365,000 Active 48 DOM
4. 2026-06-17
   days on market $365,000 Active 47 DOM
5. 2026-06-16
   days on market $365,000 Active 46 DOM
6. 2026-06-15
   days on market $365,000 Active 45 DOM
7. 2026-06-14
   days on market $365,000 Active 43 DOM
8. 2026-06-12
   days on market $365,000 Active 42 DOM
9. 2026-06-09
   days on market $365,000 Active 39 DOM
10. 2026-06-08
    days on market $365,000 Active 38 DOM
11. 2026-06-07
    days on market $365,000 Active 37 DOM
12. 2026-06-05
    days on market $365,000 Active 34 DOM
13. 2026-06-02
    days on market $365,000 Active 32 DOM
14. 2026-06-01
    days on market $365,000 Active 31 DOM
15. 2026-05-31
    days on market $365,000 Active 30 DOM
16. 2026-05-30
    days on market $365,000 Active 29 DOM
17. 2026-04-30
    listed $379,000 Active 537-char remark
18. 1998-05-14
    soldstatus $93,000 23-char remark

    Show marketing remark (23 chars)

    Basement storage rooms.

19. 1997-07-31
    listed $109,500 23-char remark

    Show marketing remark (23 chars)

    Basement storage rooms.

ⓘ 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 ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $84,324
• − Mortgage interest: −$20,446
• − Property taxes: −$5,475
• − Insurance: −$1,825
• − Repairs & maintenance: −$6,746
• − Management: −$6,746
• − Depreciation: −$10,618
• Taxable income: $32,468
• Est. tax owed @ 24.0%: −$7,792
• After-tax cash flow: $28,554/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 three-family Victorian requires moderate renovations to its kitchen, bathrooms, and flooring to increase its value.

Repairs flagged

• Major kitchen cabinets — severely dated and in poor condition
• Major bathroom fixtures — outdated and cluttered
• Major flooring — dated linoleum in kitchen and bathrooms
• Minor interior walls — paint peeling in some areas

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom renovation — upgrading the bathrooms would increase both resale and rental value
• Both flooring replacement — replacing the dated linoleum with modern flooring would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · outdated and cluttered	Major	$15,000–50,000
flooring · dated linoleum in kitchen and bathrooms	Major	$15,000–50,000
interior walls · paint peeling in some areas	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom renovation — upgrading the bathrooms would increase both resale and rental value ↑
• Both flooring replacement — replacing the dated linoleum with modern flooring would increase both resale and rental 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

+233.3% since first listed

4 events — show timeline

• 2026-05-28 Price Changed $365,000 BCMLS
• 2026-04-30 Listed $379,000 BCMLS
• 1998-05-14 Sold (MLS) $93,000 BCMLS
• 1997-07-31 Listed $109,500 BCMLS