7 Chestnut St

Abington, MA 02370

$229,900D-

2 bd · 1.5 ba · 1,008 sqft · Built 1987 · Manufactured · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,655/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$383
• HOA: −$787
• Vac / Maint / Mgmt: −$557
• Net cashflow: $-279/mo
• Annual: $-3,343/yr
• Cap rate: 4.84%
• Cash-on-cash: -5.19%
• DSCR: 0.77
• 1% rule: 1.15%
• Cash to close: $64,372

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $230k.
• At list price, monthly cash flow is $-279 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (17.5% below list).
• Meets the 1% rule at list price ($3k rent vs $230k).
• It's been on market 38 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (17.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#102 in MA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities F, commute F, cost of living F.
• Rockland (suburban): math 32% / reading 46% proficiency, ranked #202 of 302 in MA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jefferson Elementary School (math 47% / reading 52%, grade D, #330 of 938 statewide, top 38%, 247 students, 0% FRL); John W Rogers Middle (math 29% / reading 43%, grade F, #171 of 305 statewide, top 57%, 715 students, 0% FRL); Rockland Senior High (math 47% / reading 62%, grade C-, #157 of 343 statewide, top 47%, 641 students, 0% FRL) — zoned schools average 0% FRL vs 34% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 30% of rent.
• Market conditions: 31 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,255 units permitted in Plymouth County in 2024 (411 in 5+ unit buildings).
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $37k; list at $230k implies a 518% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 77% 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.
• Cap rate 4.8% vs local median 3.0% in Abington — 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?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.