24 Spring St · North Adams, MA 01247

$84,900

4 bd · 1.0 ba · 1,445 sqft · SingleFamily public records · 64 Days on market

Built 1800 4,880 sqft lot

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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
• 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

Listing remarks MLS

Great investment opportunity with this three plus bedroom Colonial style home conveniently located near MASS MoCA, MCLA and downtown North Adams. Also short commute to everything Williamstown has to offer!

Key facts

• 4,880 sq ft lot
• 2 parking spots
• Built 1800

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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, schools 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.
• 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 $587 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 + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.92% ✓
• Cap rate: 24.62%
• Cash-on-cash: 65.44%
• DSCR: 3.91
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $241,315
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
90 Washington Ave	0.13mi	3/1.5 (-1)	1,520 (+5%)	1mo	$210,000	$138	77
299 E Main St	0.29mi	3/1.5 (-1)	1,454 (+1%)	7mo	$160,000	$110	73
23 Murray St	0.71mi	3/1.5 (-1)	1,456 (+1%)	1mo	$259,218	$178	58
66 Lyman St	0.68mi	3/1.0 (-1)	1,388 (-4%)	2mo	$222,500	$160	55
235 Kemp Ave	0.60mi	3/1.5 (-1)	1,404 (-3%)	7mo	$328,500	$234	55
153 Corinth St	0.49mi	3/1.0 (-1)	1,352 (-6%)	8mo	$227,500	$168	55
26 Bradford St	0.63mi	5/1.5 (+1)	1,500 (+4%)	4mo	$203,000	$135	54
312 Eagle St	0.72mi	4/1.0	1,495 (+4%)	13mo	$230,000	$154	50
85 Furnace St	0.39mi	3/1.0 (-1)	1,236 (-14%)	4mo	$207,000	$167	49
54 Gunther St	0.71mi	3/1.0 (-1)	1,374 (-5%)	13mo	$290,000	$211	43
15 Murray Ave	0.72mi	4/2.0	1,565 (+8%)	7mo	$250,217	$160	43
209 Corinth St	0.60mi	3/1.0 (-1)	1,240 (-14%)	5mo	$250,000	$202	39

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: 64.7%
• Equity multiple: 3.90×
• Total profit: $68,887
• Equity at exit: $12,659

10-year hold

• IRR: 69.0%
• Equity multiple: 8.01×
• Total profit: $166,631
• Equity at exit: $7,341

Cash invested: $23,772 (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: 2.9×

Monthly cashflow live

• Estimated rent: $2,475 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$178 /mo · $2,140/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $1,296

Break-even live

Break-even rent $834

Max offer price $84,900

Occupancy floor 43%

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: $21,225
• Closing costs: $2,547
• 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	0.87mi

Listing history 14 events

1. 2026-06-18
   days on market $84,900 Active 64 DOM
2. 2026-06-17
   days on market $84,900 Active 63 DOM
3. 2026-06-16
   days on market $84,900 Active 62 DOM
4. 2026-06-15
   statusdays on market $84,900 Active 61 DOM
5. 2026-06-13
   days on market $84,900 Back On Market 59 DOM
6. 2026-06-12
   statusdays on market $84,900 Back On Market 58 DOM
7. 2026-04-06
   status Under Agreement
8. 2026-03-21
   price $84,900
9. 2026-03-05
   price $89,900
10. 2026-02-09
    listed $99,900 New
11. 2024-10-17
    soldstatus $80,000 Closed 206-char remark

    Show marketing remark (206 chars)

    Great investment opportunity with this three plus bedroom Colonial style home conveniently located near MASS MoCA, MCLA and downtown North Adams. Also short commute to everything Williamstown has to offer!

12. 2024-07-31
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Great investment opportunity with this three plus bedroom Colonial style home conveniently located near MASS MoCA, MCLA and downtown North Adams. Also short commute to everything Williamstown has to offer!

13. 2024-07-09
    listed $80,000 Active 206-char remark

    Show marketing remark (206 chars)

    Great investment opportunity with this three plus bedroom Colonial style home conveniently located near MASS MoCA, MCLA and downtown North Adams. Also short commute to everything Williamstown has to offer!

14. 2000-03-07
    soldstatus $54,800

ⓘ 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: $2,140 · $178/mo
• Projected year-2 tax: $2,140 · $178/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 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 9 d/yr ≥92°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $29,700
• − Mortgage interest: −$4,756
• − Property taxes: −$2,140
• − Insurance: −$424
• − Repairs & maintenance: −$2,376
• − Management: −$2,376
• − Depreciation: −$2,470
• Taxable income: $15,158
• Est. tax owed @ 24.0%: −$3,638
• After-tax cash flow: $11,918/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: 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

+54.9% since first listed

8 events — show timeline

• 2026-04-06 Pending — MLS PIN
• 2026-03-21 Price Changed $84,900 MLS PIN
• 2026-03-05 Price Changed $89,900 MLS PIN
• 2026-02-09 Listed $99,900 MLS PIN
• 2024-10-17 Sold (MLS) $80,000 BCMLS
• 2024-07-31 Pending — BCMLS
• 2024-07-09 Listed $80,000 BCMLS
• 2000-03-07 Sold (Public Records) $54,800 Public Records

Property tax history

+4.2%/yr

Latest (2023): $2,140 · +10.6% YoY. Source: county tax records.