310 Old Chatham Rd Unit C-18

South Dennis, MA 02660

$74,900D

3 bd · 1.0 ba · 430 sqft · Built 2021 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,447/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$703
• Vac / Maint / Mgmt: −$304
• Net cashflow: $-77/mo
• Annual: $-930/yr
• Cap rate: 5.05%
• Cash-on-cash: -4.43%
• DSCR: 0.80
• 1% rule: 1.93%
• Cash to close: $20,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $75k. Condition is rated excellent.
• At list price, monthly cash flow is $-77 ($-930/yr) — negative.
• To cash-flow at today's rent, offer at most $64k (15.0% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 23 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (15.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#183 in MA) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A, employment A-; Watch: schools D+, amenities F, commute F.
• Dennis-Yarmouth (suburban): math 31% / reading 42% proficiency, ranked #222 of 302 in MA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 49% of rent.
• Market conditions: 28 active listings in the ZIP; 657 units permitted in Barnstable County in 2024 (178 in 5+ unit buildings).
• Barnstable County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.1% vs local median 2.1% in South Dennis — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.