168 Prospect St · North Adams, MA 01247

$189,900

4 bd · 2.5 ba · 1,458 sqft · MultiFamily public records · 43 Days on market

Built 1880 4,792 sqft lot $130/sqft · 14% above area Est $167k · 14% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• 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
• ARV discount +1.2/15.0

Multi-family units

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

Listing remarks MLS

Good investment/income opportunity on this foreclosure selling ''AS IS''. Two family, 8 room colonial, 4 BD 2 BA, 200 AMP elec. PLEASE NOTE...The Grantee(s), or purchaser(s), of the Property may not re-sell, record an additional conveyance document, or otherwise transfer title to the Property within 60 days following the Grantor’s execution of this Deed.

Key facts

• Private feel
• Water heater
• Large yard

Tags

• LARGE YARD
• SEPARATED PARKING AREAS
• PRIVATE FEEL
• NATURAL GAS BOILER
• WATER HEATER

Property features AI

Finance

• Financial info: Annual taxes reported (2025)

Exterior

• Utilities: Electric with circuit breakers and individual meters; Public sewer
• Home design: Property at 168 Prospect St, North Adams, MA
• Construction: Slate and asphalt roof; Total building area approximately 1458

Interior

• Bedrooms: One-bedroom unit (long-time tenant)
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: Two full bathrooms on the property; One bathroom in the listed unit
• Heating & cooling: Natural gas heating
• Interior features: Carpet, linoleum, and wood flooring

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive. Per door: $379/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: Colegrove Park Elementary (math 8% / reading 37%, grade F, #753 of 938 statewide, top 81%, 235 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; 1 comparable units currently listed for rent nearby; 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $190k implies a 660% 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 $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.37% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.10%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (median comp): $166,519
• List price: $189,900
• Delta: 14.04%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
99 Meadow St	0.63mi	4/2.0	1,555 (+7%)	10mo	$163,000	$105	49

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: 8.4%
• Equity multiple: 1.33×
• Total profit: $17,525
• Equity at exit: $28,315

10-year hold

• IRR: 17.6%
• Equity multiple: 2.46×
• Total profit: $77,532
• 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 01247

• Home prices YoY: -2.0%
• Active inventory: 99
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$221 /mo · $2,654/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $758

Break-even live

Break-even rent $1,641

Max offer price $189,900

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,600
Total (2 units)			$2,600

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
40 Cady St North Adams, MA	3.0	1.5	1467	$2,475	$1.69	43d	1	0.77mi

Listing history 27 events

1. 2026-06-18
   days on market $189,900 Active 43 DOM
2. 2026-06-17
   days on market $189,900 Active 42 DOM
3. 2026-06-16
   days on market $189,900 Active 41 DOM
4. 2026-06-15
   days on market $189,900 Active 40 DOM
5. 2026-06-13
   days on market $189,900 Active 38 DOM
6. 2026-06-12
   days on market $189,900 Active 37 DOM
7. 2026-06-09
   days on market $189,900 Active 34 DOM
8. 2026-06-09
   price $189,900 Active 33 DOM
9. 2026-06-08
   days on market $199,900 Active 33 DOM
10. 2026-06-07
    days on market $199,900 Active 32 DOM
11. 2026-06-07
    days on market $199,900 Active 31 DOM
12. 2026-06-04
    days on market $199,900 Active 28 DOM
13. 2026-06-02
    days on market $199,900 Active 27 DOM
14. 2026-06-01
    days on market $199,900 Active 26 DOM
15. 2026-05-31
    days on market $199,900 Active 25 DOM
16. 2026-05-31
    days on market $199,900 Active 24 DOM
17. 2026-05-06
    listed $199,900 Active 502-char remark
18. 2017-12-31
    historical
19. 2017-06-20
    listed $89,900
20. 2012-08-30
    soldstatus $25,000

    Show marketing remark (362 chars)

    Good investment/income opportunity on this foreclosure selling ''AS IS''. Two family, 8 room colonial, 4 BD 2 BA, 200 AMP elec. PLEASE NOTE...The Grantee(s), or purchaser(s), of the Property may not re-sell, record an additional conveyance document, or otherwise transfer title to the Property within 60 days following the Grantor’s execution of this Deed.

21. 2012-06-12
    listed $39,900

    Show marketing remark (362 chars)

    Good investment/income opportunity on this foreclosure selling ''AS IS''. Two family, 8 room colonial, 4 BD 2 BA, 200 AMP elec. PLEASE NOTE...The Grantee(s), or purchaser(s), of the Property may not re-sell, record an additional conveyance document, or otherwise transfer title to the Property within 60 days following the Grantor’s execution of this Deed.

22. 2006-10-27
    soldstatus $95,000
23. 2006-10-27
    soldstatus $95,000
24. 2006-10-26
    soldstatus $95,000
25. 2006-08-23
    listed $108,900
26. 2005-06-09
    soldstatus $49,000
27. 1990-07-18
    soldstatus $55,000

ⓘ 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: $2,654 · $221/mo
• Projected year-2 tax: $2,654 · $221/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 1/10 Low
• 🌡 Heat 2/10 Low 9 d/yr ≥92°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $31,200
• − Mortgage interest: −$10,637
• − Property taxes: −$2,654
• − Insurance: −$950
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$5,524
• Taxable income: $6,443
• Est. tax owed @ 24.0%: −$1,546
• After-tax cash flow: $7,548/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

+245.3% since first listed

12 events — show timeline

• 2026-06-09 Price Changed $189,900 BCMLS
• 2026-05-06 Listed $199,900 BCMLS
• 2017-12-31 Listing Removed — BCMLS
• 2017-06-20 Listed $89,900 BCMLS
• 2012-08-30 Sold (MLS) $25,000 BCMLS
• 2012-06-12 Listed $39,900 BCMLS
• 2006-10-27 Sold (Public Records) $95,000 Public Records
• 2006-10-27 Sold (Public Records) $95,000 Public Records
• 2006-10-26 Sold (MLS) $95,000 BCMLS
• 2006-08-23 Listed $108,900 BCMLS
• 2005-06-09 Sold (Public Records) $49,000 Public Records
• 1990-07-18 Sold (Public Records) $55,000 Public Records

Property tax history

+4.4%/yr

Latest (2023): $2,654 · +2.1% YoY. Source: county tax records.