35 Main St

West Stockbridge, MA 01266

$750,000B-

7 bd · 4.0 ba · 3,192 sqft · Built 1920 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,234/mo
• Mortgage (P&I): −$3,933
• Tax + insurance: −$862
• HOA: −$0
• Vac / Maint / Mgmt: −$2,149
• Net cashflow: $3,289/mo
• Annual: $39,472/yr
• Cap rate: 11.64%
• Cash-on-cash: 19.11%
• DSCR: 1.85
• 1% rule: 1.36%
• Cash to close: $210,000

Investor read

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $750k.
• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $822/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $750k).
• It's been on market 38 days — a 3% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $728k (3.0% below list) — sets the bar for market timing.
• In year one you build about $25k of equity ($5k loan paydown + $20k appreciation (2.7% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Berkshire Hills (rural): math 33% / reading 49% proficiency, ranked #197 of 302 in MA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Muddy Brook Regional Elementary School (math 47% / reading 52%, grade D, #330 of 938 statewide, top 38%, 372 students, 0% FRL); W.E.B. Du Bois Regional Middle School (math 22% / reading 40%, grade F, #203 of 305 statewide, top 67%, 325 students, 0% FRL); Monument Mt Regional High (math 57% / reading 77%, grade B, #97 of 343 statewide, top 30%, 472 students, 0% FRL) — zoned schools average 0% FRL vs 21% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 130 units permitted in Berkshire County in 2024 (10 in 5+ unit buildings).
• Berkshire County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 25y 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 $415k; list at $750k implies a 81% gain — meaningful room to come down on a strong offer.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.