19 South Kingman St

Taunton, MA 02347

$421,000C-

2 bd · 2.0 ba · 1,520 sqft · Built 1945 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,515/mo
• Mortgage (P&I): −$2,208
• Tax + insurance: −$492
• HOA: −$0
• Vac / Maint / Mgmt: −$738
• Net cashflow: $77/mo
• Annual: $923/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• 1% rule: 0.83%
• Cash to close: $117,880

Investor read

• This is a 2-bed/2.0-bath single-family listed at $421k.
• At list price, monthly cash flow is $77 ($923/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $352k (16.5% below list).
• It's been on market 17 days — a 2% lower offer ($415k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $352k (16.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#78 in MA, #4,184 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, amenities F, cost of living F.
• Freetown-Lakeville (rural): math 47% / reading 53% proficiency, ranked #109 of 302 in MA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Assawompset Elementary School (math 52% / reading 62%, grade C+, #207 of 938 statewide, top 26%, 493 students, 0% FRL); Freetown-Lakeville Middle School (math 44% / reading 47%, grade D+, #109 of 305 statewide, top 37%, 675 students, 0% FRL); Apponequet Regional High (math 67% / reading 77%, grade B+, #70 of 343 statewide, top 22%, 729 students, 0% FRL).
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 1,255 units permitted in Plymouth County in 2024 (411 in 5+ unit buildings).
• Current owner paid $65k; list at $421k implies a 548% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 77% 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.
• Cap rate 6.5% vs local median 3.0% in Taunton — 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

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.