56 Cart Path Rd

Waltham, MA 02493

$6,999,000C

6 bd · 9.0 ba · 7,047 sqft · Built 2007 · SingleFamily · Active · 122 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $70,000/mo
• Mortgage (P&I): −$36,704
• Tax + insurance: −$8,283
• HOA: −$0
• Vac / Maint / Mgmt: −$14,700
• Net cashflow: $10,314/mo
• Annual: $123,766/yr
• Cap rate: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• 1% rule: 1.00%
• Cash to close: $1,959,720

Investor read

• This is a 6-bed/9.0-bath single-family listed at $7.00M.
• At list price, monthly cash flow is $10k ($124k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($70k rent vs $7.00M).
• It's been on market 122 days — a 12% lower offer ($6.16M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $6.16M (12.0% below list) — sets the bar for market timing.
• In year one you build about $154k of equity ($48k loan paydown + $106k appreciation (1.5% local appreciation)).
• Location reads 79/100 on livability (#47 in MA, #2,251 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities F, cost of living F.
• Weston (suburban): math 71% / reading 77% proficiency, ranked #7 of 302 in MA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Country (math 44% / reading 74%, grade B-, #167 of 938 statewide, top 21%, 331 students, 0% FRL); Weston Middle (math 72% / reading 76%, grade A, #5 of 305 statewide, top 2%, 444 students, 0% FRL); Weston High (math 87% / reading 82%, grade A, #22 of 343 statewide, top 8%, 639 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: 53 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $599k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4.75M; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $1.96M cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$398k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 2.5% in Waltham — 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.

Questions for listing agent

• It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.