51 Stoughton St

Quincy, MA 02169

$1,900,000C-

9 bd · 6.0 ba · 3,504 sqft · Built 1980 · MultiFamily · Active · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $20,798/mo
• Mortgage (P&I): −$9,964
• Tax + insurance: −$2,240
• HOA: −$0
• Vac / Maint / Mgmt: −$4,368
• Net cashflow: $4,227/mo
• Annual: $50,718/yr
• Cap rate: 9.25%
• Cash-on-cash: 10.57%
• DSCR: 1.47
• 1% rule: 1.09%
• Cash to close: $532,000

Investor read

• This is a 6 × 10-bed/6.0-bath units multifamily listed at $1.90M.
• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $704/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.90M).
• It's been on market 155 days — a 12% lower offer ($1.67M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.67M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $13k of loan paydown is wiped out by about $57k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#31 in MA, #1,460 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Quincy (suburban): math 39% / reading 49% proficiency, ranked #168 of 302 in MA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $460/mo.
• Market conditions: Rents rising (+2.7%/yr); 109 active listings in the ZIP; solid renter incomes; 958 units permitted in Norfolk County in 2024 (305 in 5+ unit buildings).
• Norfolk County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.3% vs local median 2.4% in Quincy — 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.
• At $20,798/mo this rent would consume 259% of the median local household income ($96k/yr) (locally 3560% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 A-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?
• 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.