103 Kimberly Ct

Wareham, MA 02571

$149,900B

3 bd · 2.0 ba · 840 sqft · Built 1971 · Manufactured · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,534/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$532
• Net cashflow: $966/mo
• Annual: $11,591/yr
• Cap rate: 14.03%
• Cash-on-cash: 27.62%
• DSCR: 2.23
• 1% rule: 1.69%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• It's been on market 72 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wareham (suburban): math 17% / reading 33% proficiency, ranked #271 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 47 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).
• 5 sale attempts since 27y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $150k implies a 552% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; 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 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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.