6 Mayhew · Hopkinton, MA 01748

$1,699,000

30 bd · 25.0 ba · 4,000 sqft · MultiFamily · 21 Days on market

Built 1900 Good condition 7,230 sqft lot

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Why this score? — see what drove the D- 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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.3/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

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

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

EXTREMELY RARE opportunity to acquire a boutique 5-unit multifamily investment property in Hopkinton - currently THE ONLY multifamily asset available for sale in town! VALUE-ADD opportunity featuring IMMEDIATE RENTAL UPSIDE through BELOW-MARKET RENTS, stable in-place income, historical collections, and recent improvements. Unit mix includes 3 one-bed/one-bath units, 1 one bedroom+den/one-bath unit, and 1 two-bed/one-bath unit. Over $250K in recent improvements. Renovated units feature NEW LVP flooring, UPDATED kitchens & baths, NEW appliances, fresh paint, common laundry, assigned off-street parking, and NEWLY painted exterior. 100% occupied. Walkable to downtown Hopkinton amenities w

Key facts

• Walkable to downtown
• New lvp flooring
• Updated kitchens

Tags

• NEW LVP FLOORING
• UPDATED KITCHENS
• ASSIGNED OFF-STREET PARKING
• NEWLY PAINTED EXTERIOR
• WALKABLE TO DOWNTOWN
• CONVENIENT COMMUTER ACCESS

Property features AI

Finance

• Other: Total building area approximately 4,000 sq ft; Lot about 0.16 acres; Property currently active
• HOA & community: Community features include public transportation, shopping, parks, walk/jog trails, bike path, highway access, house of worship, public school access, and nearby T-station; Not a senior community

Exterior

• Parking: Open paved parking; Eight parking spaces; Off-street and assigned parking
• Utilities: Public water; Public sewer; Electric: 110 volts, circuit breakers, individually metered
• Home design: 5-9 family property; Five stories; White exterior
• Construction: Frame construction; Block and stone foundation; Shingle roof; Approximately built (year per public records)
• Exterior features: Enclosed patio/porch; Rain gutters; Professional landscaping; Shed(s); Paved public road frontage; Lake/pond nearby; 1–2 miles to beach; public beach access

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Microwave
• Bedrooms: Multiple units with bedrooms on various levels (units include 1–2 floors)
• Flooring: Carpet; Wood
• Bathrooms: Five full bathrooms
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Laundry room; Ceiling fan(s); Bathroom with tub & shower; Remodeled; Kitchen; Living room/dining room combo; Office/den; Total of 16 rooms
• Laundry & utility: Laundry room; Individually metered electric

What this means for you Summary

Snapshot

• This is a 4×1bd/1ba + 1×2bd/1ba units multifamily listed at $1.70M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative. Per door: $-411/mo.
• To cash-flow at today's rent, offer at most $1.40M (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.23M (27.8% below list).
• Recommended offer: $1.23M (27.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 1.2% in Hopkinton — 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 80/100 on livability (#37 in MA, #1,807 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Hopkinton (suburban): math 71% / reading 78% proficiency, ranked #10 of 302 in MA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.0%/yr); 61 active listings in the ZIP; high-income renter base; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• At $12,259/mo this rent would consume 66% of the median local household income ($223k/yr) (locally 245% 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 $12k of loan paydown is wiped out by about $51k of value loss. Plan a longer hold.
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($1.67M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 41% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,225,900 (27.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1900 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.72% ✗
• Cap rate: 4.84%
• Cash-on-cash: -5.19%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.5%
• Equity multiple: 0.07×
• Total profit: $-442,051
• Equity at exit: $253,326

10-year hold

• IRR: -45.2%
• Equity multiple: -0.45×
• Total profit: $-691,701
• Equity at exit: $146,898

Cash invested: $475,720 (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 01748

• Rents YoY: -1.0%
• Active inventory: 61
• Price-to-rent: 61.0×

Monthly cashflow live

• Estimated rent: $12,259 medium
• Mortgage (P&I): −$8,910
• Tax est. 1.5%: −$2,124 /mo · $25,485/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,574
• Net cashflow: $-2,057

Break-even live

Break-even rent $14,863

Max offer price $1,401,378

Occupancy floor —

Sensitivity live

Price	-10% $-883	-5% $-1,470	+0% $-2,057	+5% $-2,644	+10% $-3,231
Rent	-10% $-3,025	-5% $-2,541	+0% $-2,057	+5% $-1,573	+10% $-1,088
Rate	-1.0pp $-1,201	-0.5pp $-1,625	base $-2,057	+0.5pp $-2,497	+1.0pp $-2,945

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$9,288
1× unit	2	1	$2,971
Total (5 units)			$12,259

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: $424,750
• Closing costs: $50,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,699,000 Active 21 DOM
2. 2026-06-17
   days on market $1,699,000 Active 20 DOM
3. 2026-06-16
   days on market $1,699,000 Active 19 DOM
4. 2026-06-15
   days on market $1,699,000 Active 18 DOM
5. 2026-06-14
   days on market $1,699,000 Active 16 DOM
6. 2026-06-13
   days on market $1,699,000 Active 15 DOM
7. 2026-06-10
   days on market $1,699,000 Active 13 DOM
8. 2026-06-09
   days on market $1,699,000 Active 12 DOM
9. 2026-06-08
   days on market $1,699,000 Active 11 DOM
10. 2026-06-07
    days on market $1,699,000 Active 10 DOM
11. 2026-06-05
    days on market $1,699,000 Active 7 DOM
12. 2026-06-03
    days on market $1,699,000 Active 6 DOM
13. 2026-06-02
    days on market $1,699,000 Active 5 DOM
14. 2026-06-01
    statusdays on market $1,699,000 Active 4 DOM
15. 2026-05-31
    days on market $1,699,000 New 3 DOM
16. 2026-05-28
    listed $1,699,000 New

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $147,108
• − Mortgage interest: −$95,170
• − Property taxes: −$25,485
• − Insurance: −$8,495
• − Repairs & maintenance: −$11,769
• − Management: −$11,769
• − Depreciation: −$49,425
• Taxable loss: −$55,005
• Est. tax savings @ 24.0%: +$13,201
• After-tax cash flow: $-11,480/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 · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in excellent condition with recent renovations, including new flooring, kitchens, and appliances. It is move-in ready and presents a strong value-add opportunity for investors.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can 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: Hopkinton
• NCES district ID: 2506330
• Math proficiency: 71% ▼ -9.00%
• Reading proficiency: 78% ▼ -3.00%
• Median HH income: $131,122
• Composite: 70.83/100
• National rank: #250
• State rank: #10 of 302 in MA

Livability — Hopkinton

• Score: 80/100
• State rank: #37
• US rank: #1807

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hopkinton, MA
• County: Middlesex County · 1,437,704 people
• City population: 19,358
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 19,358
• Household income: $222,801
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 245.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 1,740,269 people
• By 2030: 1,817,187 · +4.4%
• By 2040: 1,963,195 · +12.8%
• By 2050: 2,087,461 · +20.0%
• By 2075: 2,344,036 · +34.7%
• By 2100: 2,383,776 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Asian 17% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 17% · China, Canada
• Languages at home: 78% English-only · Other Indo-European 12% Other Asian/Pacific 3% Chinese 3%

Political lean MEDSL · Middlesex

• 2024 margin: Solid D (+39.5) · D 68.5% · R 29.0% · Other 2.5%
• 2008→2024 swing: +9.3pp toward D · 2008: 30.1pp · 2024: 39.5pp
• All cycles: 2024: D+39.5 2020: D+45.2 2016: D+38.1 2012: D+26.9 2008: D+30.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -278.85%
• Current HPI: 267.554
• Rent YoY: ▼ -0.96%
• Metro: Boston-Cambridge-Newton, MA-NH
• 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

1 event — show timeline

• 2026-05-28 Listed $1,699,000 MLS PIN