161 Newbury St #32 · Peabody, MA 01960

$240,000

2 bd · 1.0 ba · 728 sqft · Manufactured · 135 Days on market

Built 2024 Poor condition $330/sqft · at area comps Est $239k · at est. ↓ 4% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.3/15.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.3/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright, sunny, and well-maintained home featuring a gourmet kitchen with stainless steel appliances and recessed lighting. Updated bathroom, central air installed, and the convenience of a washer and dryer that stay with the home. Large driveway and nice yard offer great outdoor space. Located in a cooperative park with HOA fee of $375 a month, including water, taxes, and snow removal.

Key facts

• Washer and dryer
• Gourmet kitchen
• Recessed lighting

Tags

• GOURMET KITCHEN
• STAINLESS STEEL APPLIANCES
• RECESSED LIGHTING
• UPDATED BATHROOM
• CENTRAL AIR
• WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $240k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $897 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.4% in Peabody — 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 79/100 on livability (#44 in MA, #2,070 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities D+, cost of living F.
• Peabody (suburban): math 29% / reading 40% proficiency, ranked #233 of 302 in MA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.9%/yr); 40 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• This rent runs 40% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $211,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.02%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $238,982
• List price: $240,000
• Delta: 0.43%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154 Newbury St #37	0.11mi	2/1.5	720 (-1%)	21mo	$240,000	$333	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.13×
• Total profit: $8,830
• Equity at exit: $35,785

10-year hold

• IRR: 10.0%
• Equity multiple: 1.67×
• Total profit: $44,839
• Equity at exit: $20,751

Cash invested: $67,200 (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 01960

• Rents YoY: -0.9%
• Active inventory: 40
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,235 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $897

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 67%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 Newbury St Peabody, MA	3.0	1.0–2.0	955	$3,554	$3.72	1d	15	0.33mi
19 Magnolia Way Peabody, MA	1.0–3.0	1.0–2.0	1034	$3,228	$3.12	1d	28	1.11mi
1000 Crane Brook Way Peabody, MA	1.0–3.0	1.0–2.0	1137	$3,178	$2.79	1d	24	1.22mi

Listing history 23 events

1. 2026-06-18
   days on market $240,000 Active 135 DOM
2. 2026-06-17
   days on market $240,000 Active 134 DOM
3. 2026-06-16
   days on market $240,000 Active 133 DOM
4. 2026-06-15
   days on market $240,000 Active 132 DOM
5. 2026-06-13
   days on market $240,000 Active 130 DOM
6. 2026-06-13
   days on market $240,000 Active 129 DOM
7. 2026-06-09
   days on market $240,000 Active 126 DOM
8. 2026-06-08
   days on market $240,000 Active 125 DOM
9. 2026-06-07
   days on market $240,000 Active 124 DOM
10. 2026-06-04
    days on market $240,000 Active 121 DOM
11. 2026-06-03
    days on market $240,000 Active 120 DOM
12. 2026-06-02
    days on market $240,000 Active 119 DOM
13. 2026-06-01
    days on market $240,000 Active 118 DOM
14. 2026-05-31
    days on market $240,000 Active 117 DOM
15. 2026-04-07
    price $240,000 388-char remark

    Show marketing remark (388 chars)

    Bright, sunny, and well-maintained home featuring a gourmet kitchen with stainless steel appliances and recessed lighting. Updated bathroom, central air installed, and the convenience of a washer and dryer that stay with the home. Large driveway and nice yard offer great outdoor space. Located in a cooperative park with HOA fee of $375 a month, including water, taxes, and snow removal.

16. 2026-04-01
    price $255,000 388-char remark

    Show marketing remark (388 chars)

    Bright, sunny, and well-maintained home featuring a gourmet kitchen with stainless steel appliances and recessed lighting. Updated bathroom, central air installed, and the convenience of a washer and dryer that stay with the home. Large driveway and nice yard offer great outdoor space. Located in a cooperative park with HOA fee of $375 a month, including water, taxes, and snow removal.

17. 2026-03-23
    price $260,000 388-char remark

    Show marketing remark (388 chars)

    Bright, sunny, and well-maintained home featuring a gourmet kitchen with stainless steel appliances and recessed lighting. Updated bathroom, central air installed, and the convenience of a washer and dryer that stay with the home. Large driveway and nice yard offer great outdoor space. Located in a cooperative park with HOA fee of $375 a month, including water, taxes, and snow removal.

18. 2026-02-03
    listed $265,000 New 388-char remark

    Show marketing remark (388 chars)

    Bright, sunny, and well-maintained home featuring a gourmet kitchen with stainless steel appliances and recessed lighting. Updated bathroom, central air installed, and the convenience of a washer and dryer that stay with the home. Large driveway and nice yard offer great outdoor space. Located in a cooperative park with HOA fee of $375 a month, including water, taxes, and snow removal.

19. 2025-01-10
    status Under Agreement 592-char remark

    Show marketing remark (592 chars)

    UNBELIEVABLE AT THIS PRICE BRAND NEW MANUFACTURED HOME IN OAK LEDGE COOPERTIVE PARK.QUALITY THROUGHOUT GOURMET KITCHEN WITH STAINLESS STEEL APPLIANCES, RECESSED LIGHTING, STATE OF THE ART BATHROOM, FULL SIZE LAUNDRY HOOK UP, 1OO AMP SERVICE, LARGE DRIVEWAY, SUNNY AND BRIGHT, NICE YARD, 1 YEAR MANUFACTURES WARRANTY. BEST COOP PARK IN PEABODY. COOP FEE ONLY 325 INCLUDES RE TAXES, WATER AND SEWER,RUBBISH REMOVAL, SNOW PLOWING A SHARE OF THE LAND AND COMMON AREA MAINTENANCE....WELL MANAGED COOPERATIVE.14X52 CHAMPION. GREAT OPPORTUNITY TO BUY NEW CONSTRUCTON AT AN AFFORDABLE PRICE.

20. 2025-01-10
    soldstatus $225,000 Sold 592-char remark

    Show marketing remark (592 chars)

    UNBELIEVABLE AT THIS PRICE BRAND NEW MANUFACTURED HOME IN OAK LEDGE COOPERTIVE PARK.QUALITY THROUGHOUT GOURMET KITCHEN WITH STAINLESS STEEL APPLIANCES, RECESSED LIGHTING, STATE OF THE ART BATHROOM, FULL SIZE LAUNDRY HOOK UP, 1OO AMP SERVICE, LARGE DRIVEWAY, SUNNY AND BRIGHT, NICE YARD, 1 YEAR MANUFACTURES WARRANTY. BEST COOP PARK IN PEABODY. COOP FEE ONLY 325 INCLUDES RE TAXES, WATER AND SEWER,RUBBISH REMOVAL, SNOW PLOWING A SHARE OF THE LAND AND COMMON AREA MAINTENANCE....WELL MANAGED COOPERATIVE.14X52 CHAMPION. GREAT OPPORTUNITY TO BUY NEW CONSTRUCTON AT AN AFFORDABLE PRICE.

21. 2024-12-30
    historical Contingent 592-char remark

    Show marketing remark (592 chars)

    UNBELIEVABLE AT THIS PRICE BRAND NEW MANUFACTURED HOME IN OAK LEDGE COOPERTIVE PARK.QUALITY THROUGHOUT GOURMET KITCHEN WITH STAINLESS STEEL APPLIANCES, RECESSED LIGHTING, STATE OF THE ART BATHROOM, FULL SIZE LAUNDRY HOOK UP, 1OO AMP SERVICE, LARGE DRIVEWAY, SUNNY AND BRIGHT, NICE YARD, 1 YEAR MANUFACTURES WARRANTY. BEST COOP PARK IN PEABODY. COOP FEE ONLY 325 INCLUDES RE TAXES, WATER AND SEWER,RUBBISH REMOVAL, SNOW PLOWING A SHARE OF THE LAND AND COMMON AREA MAINTENANCE....WELL MANAGED COOPERATIVE.14X52 CHAMPION. GREAT OPPORTUNITY TO BUY NEW CONSTRUCTON AT AN AFFORDABLE PRICE.

22. 2024-11-21
    price $229,900 592-char remark

    Show marketing remark (592 chars)

    UNBELIEVABLE AT THIS PRICE BRAND NEW MANUFACTURED HOME IN OAK LEDGE COOPERTIVE PARK.QUALITY THROUGHOUT GOURMET KITCHEN WITH STAINLESS STEEL APPLIANCES, RECESSED LIGHTING, STATE OF THE ART BATHROOM, FULL SIZE LAUNDRY HOOK UP, 1OO AMP SERVICE, LARGE DRIVEWAY, SUNNY AND BRIGHT, NICE YARD, 1 YEAR MANUFACTURES WARRANTY. BEST COOP PARK IN PEABODY. COOP FEE ONLY 325 INCLUDES RE TAXES, WATER AND SEWER,RUBBISH REMOVAL, SNOW PLOWING A SHARE OF THE LAND AND COMMON AREA MAINTENANCE....WELL MANAGED COOPERATIVE.14X52 CHAMPION. GREAT OPPORTUNITY TO BUY NEW CONSTRUCTON AT AN AFFORDABLE PRICE.

23. 2024-09-27
    listed $249,900 New 592-char remark

    Show marketing remark (592 chars)

    UNBELIEVABLE AT THIS PRICE BRAND NEW MANUFACTURED HOME IN OAK LEDGE COOPERTIVE PARK.QUALITY THROUGHOUT GOURMET KITCHEN WITH STAINLESS STEEL APPLIANCES, RECESSED LIGHTING, STATE OF THE ART BATHROOM, FULL SIZE LAUNDRY HOOK UP, 1OO AMP SERVICE, LARGE DRIVEWAY, SUNNY AND BRIGHT, NICE YARD, 1 YEAR MANUFACTURES WARRANTY. BEST COOP PARK IN PEABODY. COOP FEE ONLY 325 INCLUDES RE TAXES, WATER AND SEWER,RUBBISH REMOVAL, SNOW PLOWING A SHARE OF THE LAND AND COMMON AREA MAINTENANCE....WELL MANAGED COOPERATIVE.14X52 CHAMPION. GREAT OPPORTUNITY TO BUY NEW CONSTRUCTON AT AN AFFORDABLE PRICE.

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

Taxation est. · year 1

• Rental income: $38,825
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,106
• − Management: −$3,106
• − Depreciation: −$6,982
• Taxable income: $7,387
• Est. tax owed @ 24.0%: −$1,773
• After-tax cash flow: $8,995/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and maintenance, including major work on the exterior siding, roof, interior walls/paint, HVAC, and landscaping. Significant improvements are needed to bring it up to a livable condition.

Repairs flagged

• Major exterior siding — Significant wear and tear visible on the exterior siding.
• Major roof — Significant wear and tear visible on the roof.
• Major interior walls/paint — Significant wear and tear visible on the interior walls/paint.
• Major HVAC/mechanicals — Significant wear and tear visible on the HVAC/mechanicals.
• Major landscaping — Significant wear and tear visible on the landscaping/curb appeal.

Value-add opportunities

• Both exterior siding repair — Improves both resale and rental value.
• Both roof repair — Improves both resale and rental value.
• Both interior paint — Improves both resale and rental value.
• Both HVAC replacement — Improves both resale and rental value.
• Both landscaping improvement — Improves both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear visible on the exterior siding.	Major	$15,000–50,000
roof · Significant wear and tear visible on the roof.	Major	$15,000–50,000
interior walls/paint · Significant wear and tear visible on the interior walls/paint.	Major	$15,000–50,000
HVAC/mechanicals · Significant wear and tear visible on the HVAC/mechanicals.	Major	$15,000–50,000
landscaping · Significant wear and tear visible on the landscaping/curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior siding repair — Improves both resale and rental value. ↑
• Both roof repair — Improves both resale and rental value. ↑
• Both interior paint — Improves both resale and rental value. ↑
• Both HVAC replacement — Improves both resale and rental value. ↑
• Both landscaping improvement — Improves both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Peabody
• NCES district ID: 2509360
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $64,022
• Composite: 31.23/100
• National rank: #6033
• State rank: #233 of 302 in MA

Livability — Peabody

• Score: 79/100
• State rank: #44
• US rank: #2070

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peabody, MA
• County: Essex County · 632,995 people
• City population: 54,474
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 54,474
• Household income: $96,501
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 2570.0

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 6%
• Common ancestry: Russian 6% Lithuanian 4% Romanian 3%
• Foreign-born: 17% · Canada, China
• Languages at home: 76% English-only · Other Indo-European 11% Spanish 8% French/Haitian/Cajun 2%

Political lean MEDSL · Essex

• 2024 margin: Strong D (+20.3) · D 59.2% · R 38.9% · Other 1.9%
• 2008→2024 swing: 0.0pp no change · 2008: 20.3pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+29.1 2016: D+22.5 2012: D+16.2 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -565.60%
• Current HPI: 285.9699
• Rent YoY: ▼ -0.91%
• 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

-4.0% since first listed

9 events — show timeline

• 2026-04-07 Price Changed $240,000 MLS PIN
• 2026-04-01 Price Changed $255,000 MLS PIN
• 2026-03-23 Price Changed $260,000 MLS PIN
• 2026-02-03 Listed $265,000 MLS PIN
• 2025-01-10 Pending — MLS PIN
• 2025-01-10 Sold (MLS) $225,000 MLS PIN
• 2024-12-30 Contingent — MLS PIN
• 2024-11-21 Price Changed $229,900 MLS PIN
• 2024-09-27 Listed $249,900 MLS PIN