8 Fern · Worcester, MA 01610

$799,900

8 bd · 4.0 ba · 4,855 sqft · MultiFamily public records · 49 Days on market

Built 1890 4,952 sqft lot $165/sqft · 11% above area Est $722k · 11% 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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +6.6/10.0
• Appreciation +4.6/10.0
• Livability +4.4/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Rent growth +1.9/5.0

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

Exceptional 4-unit investment opportunity in a high-demand rental location near Clark University. This property features three occupied units with stable income and a vacant unit ready for an owner-occupant or value-add investor. Current rents are strong with significant upside potential.The building offers 11 bedrooms across 4 units, separate utilities, and strong rental demand driven by its proximity to local universities, employment centers, and public transportation. Additional income opportunities include rent adjustments and the potential installation of common laundry facilities. Off-street parking is available, with ample on-street parking nearby.Ideal for investors seeking reliable cash flow with built-in upside or owner-occupants looking to offset expenses. Don’t miss this high-potential asset.

Key facts

• Strong rental demand
• Employment centers
• Stable income

Tags

• HIGH-DEMAND RENTAL LOCATION
• STABLE INCOME
• STRONG RENTAL DEMAND
• LOCAL UNIVERSITIES
• EMPLOYMENT CENTERS
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $546/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $800k).
• Recommended offer: $776k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.1% in Worcester — 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 87/100 on livability (#9 in MA, #312 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: schools C-, cost of living D.
• Worcester (urban): math 17% / reading 30% proficiency, ranked #280 of 302 in MA (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.2%/yr); 25 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).
• At $9,241/mo this rent would consume 215% of the median local household income ($51k/yr) (locally 2517% 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 (-0.7%/yr); year-one equity from $6k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-0.7% appreciation + 0.0% rent growth), your $224k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $113k; list at $800k implies a 608% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $775,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1890 — 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. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.69%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (median comp): $721,785
• List price: $799,900
• Delta: 10.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Woodbine St	0.24mi	9/3.0 (+1)	4,399 (-9%)	2mo	$799,900	$182	63
10 Lucian St	0.43mi	9/4.0 (+1)	4,512 (-7%)	1mo	$900,000	$199	62
8 Agawam St	0.42mi	8/3.0	4,733 (-2%)	17mo	$695,000	$147	58
21 Hitchcock Rd	0.58mi	8/3.0	4,578 (-6%)	6mo	$620,000	$135	55
484 Park Ave	0.06mi	9/3.0 (+1)	4,257 (-12%)	16mo	$616,000	$145	54
25 Wyman St	0.57mi	9/3.0 (+1)	4,746 (-2%)	11mo	$840,000	$177	51
141 Cambridge St	0.70mi	9/3.0 (+1)	4,716 (-3%)	6mo	$794,000	$168	48
94 Woodland St	0.47mi	8/4.0	4,300 (-11%)	17mo	$790,000	$184	45
20 Columbus St	0.34mi	9/3.0 (+1)	4,307 (-11%)	18mo	$950,000	$221	42
7 Wyman St	0.49mi	9/3.0 (+1)	4,161 (-14%)	9mo	$955,000	$230	36
47 Hitchcock Rd	0.63mi	9/3.0 (+1)	4,537 (-6%)	19mo	$805,000	$177	35
60 Lakewood St	0.63mi	9/3.0 (+1)	4,215 (-13%)	19mo	$727,000	$172	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.27×
• Total profit: $61,515
• Equity at exit: $203,637

10-year hold

• IRR: 9.9%
• Equity multiple: 1.91×
• Total profit: $202,972
• Equity at exit: $222,961

Cash invested: $223,972 (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 01610

• Home prices YoY: -0.1%
• Rents YoY: -2.2%
• Active inventory: 25
• Price-to-rent: 28.9×

Monthly cashflow live

• Estimated rent: $9,241 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$590 /mo · $7,075/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,941
• Net cashflow: $2,183

Break-even live

Break-even rent $6,478

Max offer price $799,900

Occupancy floor 71%

Sensitivity live

Price	-10% $2,636	-5% $2,409	+0% $2,183	+5% $1,956	+10% $1,730
Rent	-10% $1,453	-5% $1,818	+0% $2,183	+5% $2,548	+10% $2,913
Rate	-1.0pp $2,586	-0.5pp $2,386	base $2,183	+0.5pp $1,975	+1.0pp $1,765

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$9,240
Total (4 units)			$9,241

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: $199,975
• Closing costs: $23,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-08
   listed $799,900 New 821-char remark

   Show marketing remark (821 chars)

   Exceptional 4-unit investment opportunity in a high-demand rental location near Clark University. This property features three occupied units with stable income and a vacant unit ready for an owner-occupant or value-add investor. Current rents are strong with significant upside potential.The building offers 11 bedrooms across 4 units, separate utilities, and strong rental demand driven by its proximity to local universities, employment centers, and public transportation. Additional income opportunities include rent adjustments and the potential installation of common laundry facilities. Off-street parking is available, with ample on-street parking nearby.Ideal for investors seeking reliable cash flow with built-in upside or owner-occupants looking to offset expenses. Don’t miss this high-potential asset.

2. 1999-03-31
   soldstatus $113,000
3. 1986-03-03
   soldstatus $123,200

ⓘ 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: $7,075 · $590/mo
• Projected year-2 tax: $8,457 · $705/mo
• Expected delta: +$1,382/yr (+$115/mo · 19.5%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $110,892
• − Mortgage interest: −$44,807
• − Property taxes: −$7,075
• − Insurance: −$4,000
• − Repairs & maintenance: −$8,871
• − Management: −$8,871
• − Depreciation: −$23,270
• Taxable income: $13,998
• Est. tax owed @ 24.0%: −$3,360
• After-tax cash flow: $22,833/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: Worcester
• NCES district ID: 2513230
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $45,063
• Composite: 20.3/100
• National rank: #8615
• State rank: #280 of 302 in MA

Livability — Worcester

• Score: 87/100
• State rank: #9
• US rank: #312

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worcester, MA
• County: Worcester County · 487,911 people
• City population: 207,324
• Metro: Worcester, MA-CT
• Population (ZIP): 30,444
• Household income: $51,472
• Rent vs Own: 80.8% rent · 19.2% own
• Severe rent burden: 2517.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 42% White 34% Two or more races 21% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 21% Dominican 8%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 27% · Canada, Vietnam, China
• Languages at home: 48% English-only · Spanish 35% Other Indo-European 4% Vietnamese 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: ▼ -0.73%
• Current HPI: 485.4378
• Rent YoY: ▼ -2.22%
• 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

+549.3% since first listed

3 events — show timeline

• 2026-04-08 Listed $799,900 MLS PIN
• 1999-03-31 Sold (Public Records) $113,000 Public Records
• 1986-03-03 Sold (Public Records) $123,200 Public Records

Property tax history

+5.1%/yr

Latest (2023): $7,075 · -10.1% YoY. Source: county tax records.