436 Franklin · Fitchburg, MA 01420

$665,000

6 bd · 4.0 ba · 2,860 sqft · MultiFamily public records · 30 Days on market

Built 1900 0.30 ac lot Est $478k · 39% 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 +9.8/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

LOOK AT THE NUMBERS! Attention investors and owner-occupants - you won’t want to miss the opportunity to own this 4 family in Fitchburg with great cash flow! One 2-bedroom, Two 1-bedroom and one studio unit. Current owners unit features updated kitchen, dining and living room plus washer/dryer hookups in unit. The other 3 units are sunny and clean, featuring spacious bedrooms and eat-in kitchens. Walk up attic in 1 bedroom unit offers additional storage or possible expansion for that unit. All separate utilities with gas heat and gas hot water, and individual electric for each unit. Plenty of off-street paved parking plus 2 carports. Large yard with storage shed perfect for storing outdoor tools & supplies. Close to area amenities including shopping & commuter rail station, plus easy access to Rte 2. Live in 1 unit and have the tenants pay your mortgage or add positive flow to your investment portfolio. Well maintained and ready for new owners and tenants!

Key facts

• Commuter rail
• Near shopping
• Near golf courses

Tags

• FITCHBURG NEIGHBORHOOD
• NEAR SHOPPING
• NEAR RESTAURANTS
• NEAR GOLF COURSES
• EASY ACCESS TO ROUTE 2
• COMMUTER RAIL

Property features AI

Finance

• Other: Property contains four leased units (each unit indicated as leased)
• Financial info: $7,426 tax annual amount (2025)
• HOA & community: Not a senior community; Community access to public transportation, shopping, parks, walking/jogging trails, golf, medical facility, laundromat, and highway access

Exterior

• Parking: Paved driveway; Off-street parking; Assigned parking; 6 open parking spaces (6 total parking spaces)
• Utilities: Public water; Public sewer; Electric with circuit breakers and individually metered; Gas available for range
• Home design: 4-family (4 units up/down); 4 total stories; Yellow exterior
• Construction: Frame construction; Stone foundation; Shingle and slate roof; Built: Unknown/Mixed (year from public records)
• Exterior features: Balconies / decks; Deck

Interior

• Kitchen: Range; Refrigerator; Microwave
• Flooring: Tile; Vinyl; Carpet; Hardwood
• Bathrooms: 6 full bathrooms
• Heating & cooling: Natural gas heating (4 heating units); Window air conditioning units; Has heating and cooling
• Interior features: Ceiling fans; Storage; Living room; Dining room; Bathroom with tub and shower; Bathroom with shower stall; Laundry room; Total of 17 rooms
• Laundry & utility: Washer hookup; Washer hookup noted under utilities

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/6.0-bath units multifamily listed at $665k.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive. Per door: $881/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $665k).
• Recommended offer: $655k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 4.0% in Fitchburg — 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 69/100 on livability (#137 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, health & safety B+; Watch: employment D+, crime D, schools D-.
• Fitchburg (suburban): math 15% / reading 30% proficiency, ranked #282 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 90 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $9,812/mo this rent would consume 162% of the median local household income ($73k/yr) (locally 1763% 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 $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $186k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $275k; list at $665k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $655,025 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.72%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $477,620
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Edwards St	0.55mi	7/4.0 (+1)	3,120 (+9%)	10mo	$520,000	$167	46
57 Leroy St	0.44mi	7/3.0 (+1)	3,251 (+14%)	8mo	$670,000	$206	41
110 Madison St	0.60mi	5/2.0 (-1)	2,772 (-3%)	15mo	$450,000	$162	41
41 Mayland St	0.71mi	6/2.0	2,688 (-6%)	12mo	$550,000	$205	39
358-360 Fairmount St	0.65mi	5/3.0 (-1)	2,502 (-12%)	2mo	$406,000	$162	38

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 · 3.06% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 1.63×
• Total profit: $117,279
• Equity at exit: $99,154

10-year hold

• IRR: 24.3%
• Equity multiple: 3.11×
• Total profit: $393,349
• Equity at exit: $57,497

Cash invested: $186,200 (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 01420

• Home prices YoY: -25.2%
• Rents YoY: 3.1%
• Active inventory: 90
• Price-to-rent: 22.6×

Monthly cashflow live

• Estimated rent: $9,812 medium
• Mortgage (P&I): −$3,487
• Tax from tax record: −$462 /mo · $5,542/yr
• Insurance: −$277
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,061
• Net cashflow: $3,525

Break-even live

Break-even rent $5,350

Max offer price $665,000

Occupancy floor 59%

Sensitivity live

Price	-10% $3,902	-5% $3,713	+0% $3,525	+5% $3,337	+10% $3,149
Rent	-10% $2,750	-5% $3,138	+0% $3,525	+5% $3,913	+10% $4,300
Rate	-1.0pp $3,860	-0.5pp $3,694	base $3,525	+0.5pp $3,353	+1.0pp $3,178

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	6	$9,812
Total (4 units)			$9,812

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: $166,250
• Closing costs: $19,950
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $665,000 Active 30 DOM
2. 2026-06-18
   days on market $665,000 Active 27 DOM
3. 2026-06-17
   days on market $665,000 Active 26 DOM
4. 2026-06-16
   days on market $665,000 Active 25 DOM
5. 2026-06-15
   days on market $665,000 Active 24 DOM
6. 2026-06-14
   days on market $665,000 Active 22 DOM
7. 2026-06-10
   days on market $665,000 Active 19 DOM
8. 2026-06-09
   days on market $665,000 Active 18 DOM
9. 2026-06-08
   days on market $665,000 Active 17 DOM
10. 2026-06-07
    days on market $665,000 Active 16 DOM
11. 2026-06-03
    days on market $665,000 Active 12 DOM
12. 2026-06-02
    days on market $665,000 Active 11 DOM
13. 2026-06-01
    days on market $665,000 Active 10 DOM
14. 2026-05-31
    days on market $665,000 Active 9 DOM
15. 2026-05-31
    days on market $665,000 Active 8 DOM
16. 2026-05-22
    listed $665,000 New
17. 2018-12-06
    soldstatus $275,000 Sold 985-char remark

    Show marketing remark (985 chars)

    LOOK AT THE NUMBERS! Attention investors and owner-occupants - you won’t want to miss the opportunity to own this 4 family in Fitchburg with great cash flow! One 2-bedroom, Two 1-bedroom and one studio unit. Current owners unit features updated kitchen, dining and living room plus washer/dryer hookups in unit. The other 3 units are sunny and clean, featuring spacious bedrooms and eat-in kitchens. Walk up attic in 1 bedroom unit offers additional storage or possible expansion for that unit. All separate utilities with gas heat and gas hot water, and individual electric for each unit. Plenty of off-street paved parking plus 2 carports. Large yard with storage shed perfect for storing outdoor tools & supplies. Close to area amenities including shopping & commuter rail station, plus easy access to Rte 2. Live in 1 unit and have the tenants pay your mortgage or add positive flow to your investment portfolio. Well maintained and ready for new owners and tenants!

18. 2018-10-09
    status Under Agreement 985-char remark

    Show marketing remark (985 chars)

    LOOK AT THE NUMBERS! Attention investors and owner-occupants - you won’t want to miss the opportunity to own this 4 family in Fitchburg with great cash flow! One 2-bedroom, Two 1-bedroom and one studio unit. Current owners unit features updated kitchen, dining and living room plus washer/dryer hookups in unit. The other 3 units are sunny and clean, featuring spacious bedrooms and eat-in kitchens. Walk up attic in 1 bedroom unit offers additional storage or possible expansion for that unit. All separate utilities with gas heat and gas hot water, and individual electric for each unit. Plenty of off-street paved parking plus 2 carports. Large yard with storage shed perfect for storing outdoor tools & supplies. Close to area amenities including shopping & commuter rail station, plus easy access to Rte 2. Live in 1 unit and have the tenants pay your mortgage or add positive flow to your investment portfolio. Well maintained and ready for new owners and tenants!

19. 2018-09-18
    listed $289,900 New 985-char remark

    Show marketing remark (985 chars)

    LOOK AT THE NUMBERS! Attention investors and owner-occupants - you won’t want to miss the opportunity to own this 4 family in Fitchburg with great cash flow! One 2-bedroom, Two 1-bedroom and one studio unit. Current owners unit features updated kitchen, dining and living room plus washer/dryer hookups in unit. The other 3 units are sunny and clean, featuring spacious bedrooms and eat-in kitchens. Walk up attic in 1 bedroom unit offers additional storage or possible expansion for that unit. All separate utilities with gas heat and gas hot water, and individual electric for each unit. Plenty of off-street paved parking plus 2 carports. Large yard with storage shed perfect for storing outdoor tools & supplies. Close to area amenities including shopping & commuter rail station, plus easy access to Rte 2. Live in 1 unit and have the tenants pay your mortgage or add positive flow to your investment portfolio. Well maintained and ready for new owners and tenants!

20. 2001-09-14
    soldstatus $165,000 128-char remark

    Show marketing remark (128 chars)

    WELL MAINTAINED FOUR FAMILY IN GREAT LOCATION,RENTS ARE LOW REFLECTING LONG TERM TENANTS. LOTS OF PARKING PLUS A YARD. DELEADED.

21. 2001-09-14
    soldstatus $165,000

    Show marketing remark (128 chars)

    WELL MAINTAINED FOUR FAMILY IN GREAT LOCATION,RENTS ARE LOW REFLECTING LONG TERM TENANTS. LOTS OF PARKING PLUS A YARD. DELEADED.

22. 2001-08-13
    historical 128-char remark

    Show marketing remark (128 chars)

    WELL MAINTAINED FOUR FAMILY IN GREAT LOCATION,RENTS ARE LOW REFLECTING LONG TERM TENANTS. LOTS OF PARKING PLUS A YARD. DELEADED.

23. 2001-05-22
    listed $172,900 128-char remark

    Show marketing remark (128 chars)

    WELL MAINTAINED FOUR FAMILY IN GREAT LOCATION,RENTS ARE LOW REFLECTING LONG TERM TENANTS. LOTS OF PARKING PLUS A YARD. DELEADED.

24. 1986-11-25
    soldstatus $160,000

ⓘ 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: $5,542 · $462/mo
• Projected year-2 tax: $6,861 · $572/mo
• Expected delta: +$1,319/yr (+$110/mo · 23.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $117,744
• − Mortgage interest: −$37,250
• − Property taxes: −$5,542
• − Insurance: −$3,325
• − Repairs & maintenance: −$9,420
• − Management: −$9,420
• − Depreciation: −$19,345
• Taxable income: $33,442
• Est. tax owed @ 24.0%: −$8,026
• After-tax cash flow: $34,277/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: Fitchburg
• NCES district ID: 2504890
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $48,430
• Composite: 19.78/100
• National rank: #8705
• State rank: #282 of 302 in MA

Livability — Fitchburg

• Score: 69/100
• State rank: #137
• US rank: #8435

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fitchburg, MA
• County: Worcester County · 487,911 people
• City population: 41,839
• Metro: Worcester, MA-CT
• Population (ZIP): 41,839
• Household income: $72,780
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1763.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 850,858 people
• By 2030: 860,403 · +1.1%
• By 2040: 869,902 · +2.2%
• By 2050: 869,110 · +2.1%
• By 2075: 870,120 · +2.3%
• By 2100: 829,703 · -2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 19% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 2%
• Common ancestry: Lithuanian 8% Romanian 3% Slovak 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 22% French/Haitian/Cajun 3% Other Indo-European 2%

Political lean MEDSL · Worcester

• 2024 margin: D (+10.0) · D 53.9% · R 43.9% · Other 2.2%
• 2008→2024 swing: -3.8pp toward R · 2008: 13.8pp · 2024: 10.0pp
• All cycles: 2024: D+10.0 2020: D+17.8 2016: D+10.5 2012: D+9.2 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.11%
• Current HPI: 303.1067
• Rent YoY: ▲ 3.06%
• Metro: Worcester, MA-CT
• 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

+315.6% since first listed

9 events — show timeline

• 2026-05-22 Listed $665,000 MLS PIN
• 2018-12-06 Sold (MLS) $275,000 MLS PIN
• 2018-10-09 Pending — MLS PIN
• 2018-09-18 Listed $289,900 MLS PIN
• 2001-09-14 Sold (Public Records) $165,000 Public Records
• 2001-09-14 Sold (MLS) $165,000 MLS PIN
• 2001-08-13 Listing Removed — MLS PIN
• 2001-05-22 Listed $172,900 MLS PIN
• 1986-11-25 Sold (Public Records) $160,000 Public Records

Property tax history

+3.4%/yr

Latest (2022): $5,542 · +5.7% YoY. Source: county tax records.