83 Fairhaven Rd

Mattapoisett, MA 02739

$499,900B-

4 bd · 2.5 ba · 1,792 sqft · Built 1920 · MultiFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,328/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$489
• HOA: −$0
• Vac / Maint / Mgmt: −$1,329
• Net cashflow: $1,888/mo
• Annual: $22,658/yr
• Cap rate: 10.83%
• Cash-on-cash: 16.19%
• DSCR: 1.72
• 1% rule: 1.27%
• Cash to close: $139,972

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $500k.
• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $944/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• It's been on market 54 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $485k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Old Rochester (rural): math 45% / reading 58% proficiency, ranked #105 of 302 in MA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,255 units permitted in Plymouth County in 2024 (411 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 54 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.