16 Liberty St

West Bridgewater, MA 02379

$219,000B

3 bd · 2.0 ba · 1,219 sqft · Built 1985 · Manufactured · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,251/mo
• Mortgage (P&I): −$1,148
• Tax + insurance: −$365
• HOA: −$490
• Vac / Maint / Mgmt: −$683
• Net cashflow: $565/mo
• Annual: $6,780/yr
• Cap rate: 9.39%
• Cash-on-cash: 11.06%
• DSCR: 1.49
• 1% rule: 1.48%
• Cash to close: $61,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $219k.
• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• It's been on market 15 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (1.5% below list) — sets the bar for market timing.
• 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.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• West Bridgewater (suburban): math 28% / reading 53% proficiency, ranked #186 of 302 in MA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 25 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,255 units permitted in Plymouth County in 2024 (411 in 5+ unit buildings).
• 3 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $115k; list at $219k implies a 90% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 69% 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.