96-98 Newbury St Unit 10B · Danvers, MA 01923

$99,900

2 bd · 1.0 ba · 740 sqft · Manufactured · 43 Days on market

Built 1964 Fair condition $135/sqft · 39% below area Est $165k · 39% under $460/mo HOA · 17% of rent

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +2.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious two-bedroom, one bath in need of a contractor or handyman. This home offer lots of possibilities. There is a spacious family room 24x10 which could be used as the main bedroom or be split into two rooms for a 3rd bedroom and family room. Step up to a kitchen offering plenty of space for a full-size table for entertaining and a bow window. There are two more bedrooms with double closets and a good size full bath. Parking is currently for 1 car but if the sheds were removed you could get 2 or 3 cars in the driveway. Property has vinyl sided, rubber roof and propane heat and cooking. Park Fee is 460.00 a month and includes property taxes, water and sewer, snow and trash removal. Park

Key facts

• Vinyl sided
• Double closets
• Propane cooking

Tags

• SPACIOUS FAMILY ROOM
• DOUBLE CLOSETS
• VINYL SIDED
• RUBBER ROOF
• PROPANE HEAT
• PROPANE COOKING

Property features AI

Finance

• HOA & community: Homeowners association membership required; Association fee of $460; Community offers highway access; Not a senior community

Exterior

• Parking: One off-street parking space on stone/gravel surface
• Utilities: Public water; Public sewer; Electric with circuit breakers; Gas available for range
• Home design: Mobile home; White exterior; Single-story (first floor living)
• Construction: Rubber roof; Year built approximate (owner-provided)
• Exterior features: Level lot; Private road frontage; Storage

Interior

• Kitchen: Gas stove; Refrigerator; Dining area; Stone/ceramic tile flooring in kitchen
• Bedrooms: Master bedroom on first floor with closet and wall-to-wall carpet; Second bedroom on first floor with closet and wall-to-wall carpet
• Flooring: Wall-to-wall carpet; Laminate flooring; Stone/ceramic tile
• Bathrooms: One full bathroom on first floor with tub and shower
• Heating & cooling: Forced air heating (propane); Has heating
• Interior features: Open floor plan in family room; Sunken family room; Exterior access from family room; Storage
• Laundry & utility: Utilities available for gas range

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $967 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 3.0% in Danvers — 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 74/100 on livability (#84 in MA, #4,339 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: commute C-, amenities F, cost of living F.
• Danvers (suburban): math 38% / reading 51% proficiency, ranked #157 of 302 in MA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.6%/yr); 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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. 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 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: 2.68% ✓
• Cap rate: 17.90%
• Cash-on-cash: 41.47%
• DSCR: 2.85
• GRM: 3.1

CMA / ARV

• ARV (median comp): $165,000
• List price: $99,900
• Delta: -39.45%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Newbury #3	0.10mi	2/1.0	728 (-2%)	5mo	$165,000	$227	89
103 Newbury #6	0.10mi	2/1.0	728 (-2%)	11mo	$215,000	$295	83
103 Newbury #2	0.10mi	2/1.0	728 (-2%)	12mo	$195,000	$268	83
103 Newbury #5	0.10mi	2/1.0	728 (-2%)	12mo	$195,000	$268	83
103 Newbury #8	0.10mi	2/1.0	728 (-2%)	13mo	$195,000	$268	82
103 Newbury #36	0.10mi	2/1.0	728 (-2%)	16mo	$205,000	$282	79
103 Newbury #28	0.10mi	2/1.0	770 (+4%)	22mo	$229,900	$299	70
98 Newbury Unit 30A	0.02mi	1/1.0 (-1)	670 (-10%)	11mo	$40,000	$60	69
278 Newbury St #66	0.74mi	2/1.0	768 (+4%)	13mo	$219,000	$285	48
278 Newbury St #10	0.74mi	1/1.0 (-1)	700 (-5%)	7mo	$149,000	$213	46
286 Newbury St Lot 87	0.68mi	2/1.0	700 (-5%)	17mo	$110,000	$157	45
286 Newbury #16	0.68mi	2/2.0	800 (+8%)	20mo	$205,000	$256	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 33.8%
• Equity multiple: 2.35×
• Total profit: $37,846
• Equity at exit: $14,895

10-year hold

• IRR: 38.6%
• Equity multiple: 3.97×
• Total profit: $83,191
• Equity at exit: $8,638

Cash invested: $27,972 (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 01923

• Rents YoY: -0.6%
• Active inventory: 22
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,680 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$460
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $967

Break-even live

Break-even rent $1,456

Max offer price $99,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,036	-5% $1,001	+0% $967	+5% $932	+10% $898
Rent	-10% $755	-5% $861	+0% $967	+5% $1,072	+10% $1,178
Rate	-1.0pp $1,017	-0.5pp $992	base $967	+0.5pp $941	+1.0pp $914

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Crane Brook Way Peabody, MA	1.0–3.0	1.0–2.0	1137	$3,184	$2.80	0d	25	0.73mi

HOA detail

• Monthly dues: $460 · $5,520/yr
• Likely covers: watersewertrash

Listing history 14 events

1. 2026-06-18
   days on market $99,900 Active 43 DOM
2. 2026-06-17
   days on market $99,900 Active 42 DOM
3. 2026-06-16
   days on market $99,900 Active 41 DOM
4. 2026-06-15
   days on market $99,900 Active 40 DOM
5. 2026-06-13
   days on market $99,900 Active 38 DOM
6. 2026-06-09
   days on market $99,900 Active 34 DOM
7. 2026-06-08
   days on market $99,900 Active 33 DOM
8. 2026-06-07
   days on market $99,900 Active 32 DOM
9. 2026-06-04
   days on market $99,900 Active 29 DOM
10. 2026-06-03
    days on market $99,900 Active 28 DOM
11. 2026-06-02
    days on market $99,900 Active 27 DOM
12. 2026-06-01
    days on market $99,900 Active 26 DOM
13. 2026-05-31
    days on market $99,900 Active 25 DOM
14. 2026-05-06
    listed $99,900 New 775-char remark

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,157
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − HOA: −$5,520
• − Depreciation: −$2,906
• Taxable income: $10,992
• Est. tax owed @ 24.0%: −$2,638
• After-tax cash flow: $8,961/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 · 3 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations, focusing on exterior repairs and landscaping to significantly enhance its resale and rental value.

Repairs flagged

• Major Siding — Significant wear and tear
• Major Landscaping — Overgrown and unkempt
• Major Shed — Structurally compromised

Value-add opportunities

• Both Siding replacement — Enhances curb appeal and value
• Both Landscaping improvement — Boosts curb appeal and rental value
• Both Shed removal — Creates additional parking space and improves aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · Significant wear and tear	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Shed · Structurally compromised	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Siding replacement — Enhances curb appeal and value ↑
• Both Landscaping improvement — Boosts curb appeal and rental value ↑
• Both Shed removal — Creates additional parking space and improves aesthetics ↑

ⓘ 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: Danvers
• NCES district ID: 2503990
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $77,753
• Composite: 40.83/100
• National rank: #3631
• State rank: #157 of 302 in MA

Livability — Danvers

• Score: 74/100
• State rank: #84
• US rank: #4339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danvers, MA
• County: Essex County · 632,995 people
• City population: 27,991
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 27,991
• Household income: $125,395
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 719.0

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 3% Black 3% Asian 2%
• Common ancestry: Lithuanian 6% Romanian 3% Serbian 2%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 89% English-only · Other Indo-European 4% Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Essex

• 2024 margin: Strong D (+20.3) · D 59.2% · R 38.9% · Other 1.9%
• 2008→2024 swing: 0.0pp no change · 2008: 20.3pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+29.1 2016: D+22.5 2012: D+16.2 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -418.87%
• Current HPI: 280.6942
• Rent YoY: ▼ -0.57%
• 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

• 2026-05-06 Listed $99,900 MLS PIN