Solid–solid phase transformation of as cast steel may generate stress concentration zones in the microstructure due to the accumulation of thermodynamic (cooling and phase transformation processes) stresses in the microstructure at the interface between phases. These stress concentration zones are vulnerable regions to the formation of microcracks or the growth of flaws in these regions. In the present investigation, a finite element model was created to simulate the cooling of ASTM-SAE grade 1010 steel with different cooling rates. The phase transformation simulations were based on the continuous cooling transformation diagram. Therefore, they were quasi-real models. The models predict analytically the generation of stress concentration regions due to thermodynamic strains during the cooling of a sample from the austenite temperature range with different cooling rates.