2428-2430 Providence Rd · Northbridge, MA 01534

$424,990

6 bd · 2.0 ba · 2,288 sqft · MultiFamily · 92 Days on market

Built 1870 Good condition 0.31 ac lot $186/sqft · 13% below area Est $489k · 13% under ↓ 8% since listing

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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
• ARV discount +13.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Rarely available townhouse style 2 family close to shopping and restaurants. The vacant unit is updated with stainless steel appliances, granite countertops and white modern cabinets. There is a dining area seating 6 open to a large living room. A full bath and laundry closet complete the main floor. The second floor has a large primary bedroom with wood floors and a walk in closet. Two additional bedrooms are on the second floor. On the third floor are 3 additional rooms for quiet separation or growing families. Plug in heaters keep rooms warm in winter months but future owners could add permanent electric baseboard heaters if desired. The occupied side has great tenants in place. That unit has 3 bedrooms and one bathroom, a mirrored second floor setup and a kitchen with white appliances and neutral laminate countertops. Grey click connect flooring throughout most of that unit. There is a 3 bay shed for storage and parking for 6 cars.

Key facts

• Dining area
• Large living room
• Walk in closet

Tags

• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• WHITE MODERN CABINETS
• DINING AREA
• LARGE LIVING ROOM
• WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $425k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $822/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Recommended offer: $387k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Northbridge (suburban): math 28% / reading 43% proficiency, ranked #218 of 302 in MA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 15 active listings in the ZIP; 2,293 units permitted in Worcester County in 2024 (1,205 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $119k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $386,740 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.36% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.59%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $488,667
• List price: $424,990
• Delta: -13.03%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34-36 Railroad St	0.26mi	6/2.0	2,184 (-4%)	17mo	$467,500	$214	66
72-76 School St	0.31mi	5/3.0 (-1)	2,465 (+8%)	12mo	$716,000	$290	54
2814 Providence Rd	0.72mi	5/2.0 (-1)	2,452 (+7%)	13mo	$600,000	$245	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: 7.7%
• Equity multiple: 1.30×
• Total profit: $35,991
• Equity at exit: $63,367

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $166,604
• Equity at exit: $36,745

Cash invested: $118,997 (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 01534

• Home prices YoY: -14.7%
• Active inventory: 15
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $5,800 medium
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,218
• Net cashflow: $1,645

Break-even live

Break-even rent $3,718

Max offer price $424,990

Occupancy floor 67%

Sensitivity live

Price	-10% $1,939	-5% $1,792	+0% $1,645	+5% $1,498	+10% $1,351
Rent	-10% $1,187	-5% $1,416	+0% $1,645	+5% $1,874	+10% $2,103
Rate	-1.0pp $1,859	-0.5pp $1,753	base $1,645	+0.5pp $1,535	+1.0pp $1,423

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,800
Total (2 units)			$5,800

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: $106,248
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $424,990 Active 92 DOM
2. 2026-06-17
   days on market $424,990 Active 91 DOM
3. 2026-06-16
   statusdays on market $424,990 Active 90 DOM
4. 2026-06-15
   days on market $424,990 Price Changed 89 DOM
5. 2026-06-14
   days on market $424,990 Price Changed 87 DOM
6. 2026-06-13
   pricestatusdays on market $424,990 Price Changed 86 DOM
7. 2026-06-10
   days on market $445,000 Active 84 DOM
8. 2026-06-09
   days on market $445,000 Active 83 DOM
9. 2026-06-08
   statusdays on market $445,000 Active 82 DOM
10. 2026-06-07
    days on market $445,000 Back On Market 81 DOM
11. 2026-06-05
    statusdays on market $445,000 Back On Market 78 DOM
12. 2026-06-03
    statusdays on market $445,000 Contingent 77 DOM
13. 2026-06-02
    days on market $445,000 Active 76 DOM
14. 2026-06-01
    days on market $445,000 Active 75 DOM
15. 2026-05-31
    days on market $445,000 Active 74 DOM
16. 2026-05-31
    days on market $445,000 Active 73 DOM
17. 2026-05-12
    price $445,000 949-char remark

    Show marketing remark (949 chars)

    Rarely available townhouse style 2 family close to shopping and restaurants. The vacant unit is updated with stainless steel appliances, granite countertops and white modern cabinets. There is a dining area seating 6 open to a large living room. A full bath and laundry closet complete the main floor. The second floor has a large primary bedroom with wood floors and a walk in closet. Two additional bedrooms are on the second floor. On the third floor are 3 additional rooms for quiet separation or growing families. Plug in heaters keep rooms warm in winter months but future owners could add permanent electric baseboard heaters if desired. The occupied side has great tenants in place. That unit has 3 bedrooms and one bathroom, a mirrored second floor setup and a kitchen with white appliances and neutral laminate countertops. Grey click connect flooring throughout most of that unit. There is a 3 bay shed for storage and parking for 6 cars.

18. 2026-04-12
    status Back On Market 949-char remark

    Show marketing remark (949 chars)

    Rarely available townhouse style 2 family close to shopping and restaurants. The vacant unit is updated with stainless steel appliances, granite countertops and white modern cabinets. There is a dining area seating 6 open to a large living room. A full bath and laundry closet complete the main floor. The second floor has a large primary bedroom with wood floors and a walk in closet. Two additional bedrooms are on the second floor. On the third floor are 3 additional rooms for quiet separation or growing families. Plug in heaters keep rooms warm in winter months but future owners could add permanent electric baseboard heaters if desired. The occupied side has great tenants in place. That unit has 3 bedrooms and one bathroom, a mirrored second floor setup and a kitchen with white appliances and neutral laminate countertops. Grey click connect flooring throughout most of that unit. There is a 3 bay shed for storage and parking for 6 cars.

19. 2026-04-10
    historical Contingent 949-char remark

    Show marketing remark (949 chars)

    Rarely available townhouse style 2 family close to shopping and restaurants. The vacant unit is updated with stainless steel appliances, granite countertops and white modern cabinets. There is a dining area seating 6 open to a large living room. A full bath and laundry closet complete the main floor. The second floor has a large primary bedroom with wood floors and a walk in closet. Two additional bedrooms are on the second floor. On the third floor are 3 additional rooms for quiet separation or growing families. Plug in heaters keep rooms warm in winter months but future owners could add permanent electric baseboard heaters if desired. The occupied side has great tenants in place. That unit has 3 bedrooms and one bathroom, a mirrored second floor setup and a kitchen with white appliances and neutral laminate countertops. Grey click connect flooring throughout most of that unit. There is a 3 bay shed for storage and parking for 6 cars.

20. 2026-03-29
    price $459,990 949-char remark

    Show marketing remark (949 chars)

    Rarely available townhouse style 2 family close to shopping and restaurants. The vacant unit is updated with stainless steel appliances, granite countertops and white modern cabinets. There is a dining area seating 6 open to a large living room. A full bath and laundry closet complete the main floor. The second floor has a large primary bedroom with wood floors and a walk in closet. Two additional bedrooms are on the second floor. On the third floor are 3 additional rooms for quiet separation or growing families. Plug in heaters keep rooms warm in winter months but future owners could add permanent electric baseboard heaters if desired. The occupied side has great tenants in place. That unit has 3 bedrooms and one bathroom, a mirrored second floor setup and a kitchen with white appliances and neutral laminate countertops. Grey click connect flooring throughout most of that unit. There is a 3 bay shed for storage and parking for 6 cars.

21. 2026-03-18
    listed $485,000 New 949-char remark

    Show marketing remark (949 chars)

    Rarely available townhouse style 2 family close to shopping and restaurants. The vacant unit is updated with stainless steel appliances, granite countertops and white modern cabinets. There is a dining area seating 6 open to a large living room. A full bath and laundry closet complete the main floor. The second floor has a large primary bedroom with wood floors and a walk in closet. Two additional bedrooms are on the second floor. On the third floor are 3 additional rooms for quiet separation or growing families. Plug in heaters keep rooms warm in winter months but future owners could add permanent electric baseboard heaters if desired. The occupied side has great tenants in place. That unit has 3 bedrooms and one bathroom, a mirrored second floor setup and a kitchen with white appliances and neutral laminate countertops. Grey click connect flooring throughout most of that unit. There is a 3 bay shed for storage and parking for 6 cars.

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $69,600
• − Mortgage interest: −$23,806
• − Property taxes: −$6,375
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,568
• − Management: −$5,568
• − Depreciation: −$12,363
• Taxable income: $13,795
• Est. tax owed @ 24.0%: −$3,311
• After-tax cash flow: $16,429/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 75/100 Cosmetic rehab

This two-family home is in good condition with updated interiors and a well-maintained exterior. It offers a good investment opportunity with potential for value enhancement through minor exterior updates.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value
• Resale Replace windows — Newer windows can improve energy efficiency and home value
• Both Landscaping and fence maintenance — A well-maintained exterior can enhance both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value ↑
• Resale Replace windows — Newer windows can improve energy efficiency and home value ↑
• Both Landscaping and fence maintenance — A well-maintained exterior can enhance 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: Northbridge
• NCES district ID: 2508940
• Math proficiency: 28% ▼ -15.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $69,736
• Composite: 32.59/100
• National rank: #5677
• State rank: #218 of 302 in MA

Livability — Northbridge

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 6,097

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 4% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 8% Romanian 8% Slovak 4%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% 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: ▼ -45.47%
• Current HPI: 263.9639
• 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

-8.2% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $445,000 MLS PIN
• 2026-04-12 Relisted — MLS PIN
• 2026-04-10 Contingent — MLS PIN
• 2026-03-29 Price Changed $459,990 MLS PIN
• 2026-03-18 Listed $485,000 MLS PIN