30 Puritan Rd

Weymouth Town, MA 02189

$695,000D+

4 bd · 2.0 ba · 2,038 sqft · Built 1903 · MultiFamily · Active · 226 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,578/mo
• Mortgage (P&I): −$3,645
• Tax + insurance: −$748
• HOA: −$0
• Vac / Maint / Mgmt: −$1,171
• Net cashflow: $14/mo
• Annual: $165/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• 1% rule: 0.80%
• Cash to close: $194,600

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $695k.
• At list price, monthly cash flow is $14 ($165/yr) — positive. Per door: $7/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $558k (19.7% below list).
• It's been on market 226 days — a 12% lower offer ($612k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $558k (19.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#11 in MA, #465 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Weymouth (suburban): math 32% / reading 45% proficiency, ranked #205 of 302 in MA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lawrence W Pingree (math 32% / reading 47%, grade F, #504 of 938 statewide, top 57%, 258 students, 0% FRL); Abigail Adams Middle School (math 31% / reading 43%); Weymouth High School (math 32% / reading 45%, grade F, #233 of 343 statewide, top 69%, 1,807 students, 0% FRL) — zoned schools average 0% FRL vs 26% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.2%/yr); 19 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 958 units permitted in Norfolk County in 2024 (305 in 5+ unit buildings).
• Norfolk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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 6.3% vs local median 3.2% in Weymouth Town — 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.
• At $5,578/mo this rent would consume 71% of the median local household income ($95k/yr) (locally 524% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 226 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.