15 Buel St · Pittsfield, MA 01201

$159,900

4 bd · 4.5 ba · 3,672 sqft · SingleFamily public records · 121 Days on market

Built 1905 6,207 sqft lot $44/sqft · 66% below area

---

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
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come finish the renovation of this expansive 7 bedroom home! This project is ready for your vision and creativity to bring it to fruition! Don't miss this opportunity!

Key facts

• 6,207 sq ft lot
• 2 parking spots
• Built 1905

What this means for you Summary

Snapshot

• This is a 4-bed/4.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $749 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.6% in Pittsfield — 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 75/100 on livability (#70 in MA, #3,820 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, schools D.
• Pittsfield (urban): math 19% / reading 34% proficiency, ranked #272 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.7%/yr); 276 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• This rent runs 43% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 7.7% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 29y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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 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?
7. 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?
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: 1.58% ✓
• Cap rate: 11.91%
• Cash-on-cash: 20.07%
• DSCR: 1.89
• GRM: 5.3

CMA / ARV

• ARV (median comp): $467,183
• List price: $159,900
• Delta: -65.77%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 South St	0.68mi	4/3.5	4,009 (+9%)	1mo	$325,000	$81	48
75 Broad St	0.25mi	5/3.5 (+1)	3,313 (-10%)	19mo	$450,000	$136	47
40 Commonwealth Ave	0.69mi	5/2.5 (+1)	4,078 (+11%)	8mo	$725,000	$178	30
20 Spadina Pkwy	0.69mi	5/4.0 (+1)	4,170 (+14%)	14mo	$790,000	$189	26

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 · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.77×
• Total profit: $34,497
• Equity at exit: $23,842

10-year hold

• IRR: 29.7%
• Equity multiple: 4.33×
• Total profit: $148,958
• Equity at exit: $13,825

Cash invested: $44,772 (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 01201

• Rents YoY: 7.7%
• Active inventory: 276
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,532 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$347 /mo · $4,159/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $749

Break-even live

Break-even rent $1,584

Max offer price $159,900

Occupancy floor 65%

Sensitivity live

Price	-10% $839	-5% $794	+0% $749	+5% $703	+10% $658
Rent	-10% $549	-5% $649	+0% $749	+5% $849	+10% $949
Rate	-1.0pp $829	-0.5pp $789	base $749	+0.5pp $707	+1.0pp $665

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $159,900 Active 121 DOM
2. 2026-06-18
   days on market $159,900 Active 120 DOM
3. 2026-06-17
   days on market $159,900 Active 119 DOM
4. 2026-06-16
   days on market $159,900 Active 118 DOM
5. 2026-06-15
   days on market $159,900 Active 117 DOM
6. 2026-06-14
   days on market $159,900 Active 115 DOM
7. 2026-06-12
   days on market $159,900 Active 114 DOM
8. 2026-06-09
   days on market $159,900 Active 111 DOM
9. 2026-06-08
   days on market $159,900 Active 110 DOM
10. 2026-06-07
    days on market $159,900 Active 109 DOM
11. 2026-06-05
    days on market $159,900 Active 106 DOM
12. 2026-06-02
    days on market $159,900 Active 104 DOM
13. 2026-06-01
    statusdays on market $159,900 Active 103 DOM
14. 2026-05-31
    days on market $159,900 Price Changed 102 DOM
15. 2026-05-30
    days on market $159,900 Price Changed 101 DOM
16. 2026-05-14
    price $169,900 169-char remark

    Show marketing remark (169 chars)

    Come finish the renovation of this expansive 7 bedroom home! This project is ready for your vision and creativity to bring it to fruition! Don't miss this opportunity!

17. 2026-04-17
    price $179,900 169-char remark

    Show marketing remark (169 chars)

    Come finish the renovation of this expansive 7 bedroom home! This project is ready for your vision and creativity to bring it to fruition! Don't miss this opportunity!

18. 2026-02-18
    listed $199,900 New 169-char remark

    Show marketing remark (169 chars)

    Come finish the renovation of this expansive 7 bedroom home! This project is ready for your vision and creativity to bring it to fruition! Don't miss this opportunity!

19. 2024-01-09
    soldstatus $140,000 Closed 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

20. 2023-12-12
    status Pending 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

21. 2023-11-13
    price $154,000 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

22. 2023-10-12
    price $159,000 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

23. 2023-10-11
    price $159,900 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

24. 2023-09-11
    price $169,900 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

25. 2023-09-11
    listed $16,990 Active 402-char remark

    Show marketing remark (402 chars)

    Oversized home close to downtown in a nice, South End location. 7 bedrooms and 4 baths! So much potential and priced under assessed value. Multi zoned location. Buyers should verify use with city. Potential commercial use. The source of all representations are from the seller or a public source; broker has not verified same. It is recommended that buyer independently verify all information.

26. 2018-09-12
    soldstatus $170,000
27. 2018-04-05
    listed $180,000
28. 2015-07-31
    historical
29. 2015-04-18
    historical
30. 2014-11-07
    historical
31. 2014-11-07
    historical
32. 2014-04-07
    listed $169,500
33. 2014-04-07
    listed $169,500
34. 2014-04-07
    listed $175,000
35. 2014-04-07
    listed $175,000
36. 2012-02-28
    historical
37. 2011-02-28
    listed $209,900
38. 2009-08-08
    historical
39. 2008-11-08
    listed $249,000
40. 2008-11-07
    historical
41. 2007-12-27
    listed $259,000
42. 2007-10-31
    historical
43. 2006-09-15
    listed $299,900
44. 2003-10-10
    soldstatus $160,000
45. 2003-10-10
    soldstatus $160,000
46. 2003-07-28
    listed $169,900
47. 2003-07-16
    historical
48. 2003-04-18
    listed $169,000
49. 2001-12-20
    historical
50. 2001-06-20
    listed $234,000

ⓘ 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: $4,159 · $347/mo
• Projected year-2 tax: $4,159 · $347/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $30,386
• − Mortgage interest: −$8,957
• − Property taxes: −$4,159
• − Insurance: −$800
• − Repairs & maintenance: −$2,431
• − Management: −$2,431
• − Depreciation: −$4,652
• Taxable income: $6,957
• Est. tax owed @ 24.0%: −$1,670
• After-tax cash flow: $7,314/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: Pittsfield
• NCES district ID: 2509630
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $44,032
• Composite: 22.67/100
• National rank: #8046
• State rank: #272 of 302 in MA

Livability — Pittsfield

• Score: 75/100
• State rank: #70
• US rank: #3820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, MA
• County: Berkshire County · 44,848 people
• City population: 44,848
• Metro: Pittsfield, MA
• Population (ZIP): 44,848
• Household income: $71,093
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1580.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -199.88%
• Current HPI: 283.3421
• Rent YoY: ▲ 7.72%
• Metro: Pittsfield, MA
• 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

-68.8% since first listed

39 events — show timeline

• 2026-05-14 Price Changed $169,900 MLS PIN
• 2026-04-17 Price Changed $179,900 MLS PIN
• 2026-02-18 Listed $199,900 MLS PIN
• 2024-01-09 Sold (MLS) $140,000 BCMLS
• 2023-12-12 Pending — BCMLS
• 2023-11-13 Price Changed $154,000 BCMLS
• 2023-10-12 Price Changed $159,000 BCMLS
• 2023-10-11 Price Changed $159,900 BCMLS
• 2023-09-11 Price Changed $169,900 BCMLS
• 2023-09-11 Listed $16,990 BCMLS
• 2018-09-12 Sold (MLS) $170,000 BCMLS
• 2018-04-05 Listed $180,000 BCMLS
• 2015-07-31 Listing Removed — BCMLS
• 2015-04-18 Listing Removed — BCMLS
• 2014-11-07 Listing Removed — BCMLS
• 2014-11-07 Listing Removed — BCMLS
• 2014-04-07 Listed $175,000 BCMLS
• 2014-04-07 Listed $175,000 BCMLS
• 2014-04-07 Listed $169,500 BCMLS
• 2014-04-07 Listed $169,500 BCMLS
• 2012-02-28 Listing Removed — BCMLS
• 2011-02-28 Listed $209,900 BCMLS
• 2009-08-08 Listing Removed — BCMLS
• 2008-11-08 Listed $249,000 BCMLS
• 2008-11-07 Listing Removed — BCMLS
• 2007-12-27 Listed $259,000 BCMLS
• 2007-10-31 Listing Removed — BCMLS
• 2006-09-15 Listed $299,900 BCMLS
• 2003-10-10 Sold (Public Records) $160,000 Public Records
• 2003-10-10 Sold (MLS) $160,000 BCMLS
• 2003-07-28 Listed $169,900 BCMLS
• 2003-07-16 Listing Removed — BCMLS
• 2003-04-18 Listed $169,000 BCMLS
• 2001-12-20 Listing Removed — BCMLS
• 2001-06-20 Listed $234,000 BCMLS
• 1997-06-12 Sold (Public Records) $77,500 Public Records
• 1997-06-11 Sold (MLS) $77,500 BCMLS
• 1997-05-09 Listed $82,900 BCMLS
• 1980-07-01 Sold (Public Records) $544,500 Public Records

Property tax history

+4.0%/yr

Latest (2023): $4,159 · +10.5% YoY. Source: county tax records.