637 Nantasket Ave · Hull, MA 02045

$675,000

5 bd · 3.0 ba · 2,609 sqft · MultiFamily public records · 38 Days on market

Built 1920 4,970 sqft lot $259/sqft · 10% below area Est $752k · 10% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +12.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Great investment property. Fully rented three family (3/1/1) home mins to sandy beach. Rent includes heat, hot water, electric and water/sewer. 1 Electric Meter, 3 separate heating systems (2 Gas FHA systems and 1 gas boiler ) one hot water that rund off of Boiler. 3 Separate gas meters. Three bedroom unit has Lead Paint Certificate. Private Market flood quote $1,212.80. Also being offered as a package with 439 Newport Rd (MLS# 73519331) for $1,125,000.

Key facts

• Sandy beach
• Investment property
• Fully rented

Tags

• INVESTMENT PROPERTY
• FULLY RENTED
• SANDY BEACH
• SEPARATE HEATING SYSTEMS
• LEAD PAINT CERTIFICATE

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Off-street open parking; 4 parking spaces
• Utilities: Public water; Public sewer; Gas hookup for range
• Home design: 3-family property; 4 total stories; 4 levels reported; Address: 637 Nantasket Ave, Hull MA
• Construction: Frame construction; Concrete perimeter foundation; Shingle roof; Built year per public records
• Exterior features: Porch; Corner lot; Located in a flood plain; Bay and ocean nearby; 3/10 to 1/2 mile to the beach; Public beach access ownership

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Multiple units with bedrooms across levels (unit-level details available)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Hot water heating; 3 heating units; No central cooling reported
• Interior features: Living room; Kitchen; 12 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $675k).
• Recommended offer: $655k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 2.5% in Hull — 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.

Location & tenants

• Location reads 67/100 on livability (#168 in MA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Hull (suburban): math 44% / reading 55% proficiency, ranked #125 of 302 in MA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lillian M Jacobs (math 47% / reading 57%, grade C-, #287 of 938 statewide, top 33%, 362 students, 0% FRL); Memorial Middle (math 32% / reading 47%, grade F, #148 of 305 statewide, top 49%, 172 students, 0% FRL); Hull High (math 74% / reading 74%, grade B+, #60 of 343 statewide, top 19%, 241 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 55 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,255 units permitted in Plymouth County in 2024 (411 in 5+ unit buildings).
• At $9,269/mo this rent would consume 96% of the median local household income ($115k/yr) (locally 281% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $189k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $675k implies a 2150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% 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.

Recommended offer $654,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 11.80%
• Cash-on-cash: 19.68%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

• ARV (median comp): $752,364
• List price: $675,000
• Delta: -10.28%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.45×
• Total profit: $84,441
• Equity at exit: $100,645

10-year hold

• IRR: 20.3%
• Equity multiple: 2.71×
• Total profit: $322,833
• Equity at exit: $58,362

Cash invested: $189,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02045

• Active inventory: 55
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $9,269 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$401 /mo · $4,815/yr
• Insurance: −$281
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,946
• Net cashflow: $3,045

Break-even live

Break-even rent $5,415

Max offer price $675,000

Occupancy floor 62%

Sensitivity live

Price	-10% $3,427	-5% $3,236	+0% $3,045	+5% $2,854	+10% $2,663
Rent	-10% $2,312	-5% $2,679	+0% $3,045	+5% $3,411	+10% $3,777
Rate	-1.0pp $3,385	-0.5pp $3,216	base $3,045	+0.5pp $2,870	+1.0pp $2,692

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$9,270
Total (3 units)			$9,269

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
689 Nantasket Ave Hull, MA	4.0	3.0	1758	$16,000	$9.10	0d	1	0.26mi
351 Beach Ave Hull, MA	4.0	2.5	2344	$6,000	$2.56	26d	1	1.04mi

Listing history 17 events

1. 2026-06-21
   days on market $675,000 Active 38 DOM
2. 2026-06-18
   days on market $675,000 Active 35 DOM
3. 2026-06-17
   days on market $675,000 Active 34 DOM
4. 2026-06-16
   days on market $675,000 Active 33 DOM
5. 2026-06-15
   days on market $675,000 Active 32 DOM
6. 2026-06-13
   days on market $675,000 Active 30 DOM
7. 2026-06-13
   statusdays on market $675,000 Active 29 DOM
8. 2026-06-09
   days on market $675,000 Price Changed 26 DOM
9. 2026-06-08
   pricestatusdays on market $675,000 Price Changed 25 DOM
10. 2026-06-07
    days on market $695,000 Active 24 DOM
11. 2026-06-04
    days on market $695,000 Active 21 DOM
12. 2026-06-03
    days on market $695,000 Active 20 DOM
13. 2026-06-02
    days on market $695,000 Active 19 DOM
14. 2026-06-01
    days on market $695,000 Active 18 DOM
15. 2026-05-31
    days on market $695,000 Active 17 DOM
16. 2026-05-14
    listed $695,000 New 463-char remark
17. 1982-07-26
    soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $4,815 · $401/mo
• Projected year-2 tax: $6,559 · $547/mo
• Expected delta: +$1,744/yr (+$145/mo · 36.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $111,228
• − Mortgage interest: −$37,810
• − Property taxes: −$4,815
• − Insurance: −$4,042
• − Repairs & maintenance: −$8,898
• − Management: −$8,898
• − Depreciation: −$19,636
• Taxable income: $27,128
• Est. tax owed @ 24.0%: −$6,511
• After-tax cash flow: $30,026/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hull
• NCES district ID: 2506420
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 55% ▼ -3.00%
• Median HH income: $74,605
• Composite: 44.68/100
• National rank: #2760
• State rank: #125 of 302 in MA

Livability — Hull

• Score: 67/100
• State rank: #168
• US rank: #11180

Category grades

Amenities F Commute F Cost of living F Crime A- Employment A+ Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hull, MA
• County: Plymouth County · 358,589 people
• City population: 10,138
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 10,138
• Household income: $115,485
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 281.0

Population outlook (Plymouth County) Hauer SSP2

• Today (2025): 533,105 people
• By 2030: 541,862 · +1.6%
• By 2040: 549,791 · +3.1%
• By 2050: 542,476 · +1.8%
• By 2075: 518,429 · -2.8%
• By 2100: 448,179 · -15.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 1%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Plymouth

• 2024 margin: Lean D (+8.8) · D 53.6% · R 44.7% · Other 1.7%
• 2008→2024 swing: +1.3pp toward D · 2008: 7.6pp · 2024: 8.8pp
• All cycles: 2024: D+8.8 2020: D+17.4 2016: D+7.2 2012: D+3.8 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -340.99%
• Current HPI: 300.9416
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+2150.0% since first listed

3 events — show timeline

• 2026-06-08 Price Changed $675,000 MLS PIN
• 2026-05-14 Listed $695,000 MLS PIN
• 1982-07-26 Sold (Public Records) $30,000 Public Records

Property tax history

+2.4%/yr

Latest (2024): $4,815 · +4.4% YoY. Source: county tax records.