11 S Chesterfield Rd

Goshen, MA 01032

$159,000C

2 bd · 1.0 ba · 906 sqft · Built 1920 · SingleFamily · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,690/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $210/mo
• Annual: $2,525/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• 1% rule: 1.06%
• Cash to close: $44,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $159k.
• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• It's been on market 120 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.7% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Hampshire (rural): math 39% / reading 53% proficiency, ranked #144 of 302 in MA (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 11% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 349 units permitted in Hampshire County in 2024 (185 in 5+ unit buildings).
• Hampshire County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.
• 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.