22 Beaver Dam Rd

Fitchburg, MA 01431

$214,900B+

2 bd · 1.0 ba · 1,140 sqft · Built 1936 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,134/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$249
• HOA: −$0
• Vac / Maint / Mgmt: −$658
• Net cashflow: $1,100/mo
• Annual: $13,200/yr
• Cap rate: 12.44%
• Cash-on-cash: 21.94%
• DSCR: 1.98
• 1% rule: 1.46%
• Cash to close: $60,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• It's been on market 39 days — a 3% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#137 in MA) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, health & safety B+; Watch: employment D+, crime D, amenities F.
• North Middlesex (rural): math 36% / reading 54% proficiency, ranked #150 of 302 in MA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: North Middlesex Regional (math 62% / reading 77%, grade B, #85 of 343 statewide, top 26%, 779 students, 0% FRL) — zoned schools average 0% FRL vs 15% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 45% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the North Middlesex average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.4% vs local median 4.0% in Fitchburg — 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.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?