47 Clems Way #47

Acushnet, MA 02743

$175,000D-

2 bd · 1.0 ba · 720 sqft · Built 1979 · Manufactured · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,137/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$292
• HOA: −$535
• Vac / Maint / Mgmt: −$449
• Net cashflow: $-56/mo
• Annual: $-677/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 1.22%
• Cash to close: $49,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $175k. Condition is rated fair.
• At list price, monthly cash flow is $-56 ($-677/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (4.7% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 38 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $167k (4.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Acushnet (suburban): math 42% / reading 51% proficiency, ranked #154 of 302 in MA (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Acushnet Elementary School (math 57% / reading 67%, grade B, #146 of 938 statewide, top 17%, 556 students, 0% FRL); Albert F Ford Middle School (math 37% / reading 47%, grade D-, #129 of 305 statewide, top 43%, 407 students, 0% FRL) — zoned schools average 0% FRL vs 18% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 25% of rent.
• Market conditions: 28 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 5y 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 $114k; list at $175k implies a 54% gain — meaningful room to come down on a strong offer.

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 5% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: driveway — visible cracks and wear
• Moderate: exterior siding — moderate wear