47 Scott Ave

Amesbury Town, MA 03874

$209,900D-

2 bd · 1.0 ba · 938 sqft · Built 1978 · Manufactured · Pending · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,940/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$280
• HOA: −$200
• Vac / Maint / Mgmt: −$407
• Net cashflow: $-48/mo
• Annual: $-576/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• 1% rule: 0.92%
• Cash to close: $58,772

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $210k.
• At list price, monthly cash flow is $-48 ($-576/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (7.6% below list).
• It's been on market 74 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (7.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#170 in MA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities F, commute F, cost of living F.
• Seabrook School District (suburban): math 15% / reading 32% proficiency, ranked #92 of 98 in NH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Seabrook Elementary School (math 27% / reading 32%, grade F, #201 of 263 statewide, top 82%, 349 students, 48% FRL); Seabrook Middle School (math 10% / reading 33%, grade F, #87 of 96 statewide, top 91%, 311 students, 42% FRL); Winnacunnet High School (math 43% / reading 63%, grade C-, #28 of 90 statewide, top 30%, 1,063 students, 17% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• 2 sale attempts since 15y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $210k implies a 216% gain — meaningful room to come down on a strong offer.
• Cap rate 6.0% vs local median 2.8% in Amesbury 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.

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 74 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?