18 Honeysuckle Dr

Nantucket, MA 02554

$3,725,000B

4 bd · 4.5 ba · 4,230 sqft · Built 2026 · SingleFamily · Active · 67 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $45,000/mo
• Mortgage (P&I): −$19,534
• Tax + insurance: −$6,208
• HOA: −$290
• Vac / Maint / Mgmt: −$9,450
• Net cashflow: $9,517/mo
• Annual: $114,208/yr
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• 1% rule: 1.21%
• Cash to close: $1,043,000

Investor read

• This is a 4-bed/4.5-bath single-family listed at $3.73M. Condition is rated excellent.
• At list price, monthly cash flow is $10k ($114k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($45k rent vs $3.73M).
• It's been on market 67 days — a 6% lower offer ($3.50M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $3.50M (6.0% below list) — sets the bar for market timing.
• In year one you build about $398k of equity ($26k loan paydown + $372k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#112 in MA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: amenities D+, cost of living F.
• Nantucket (town): math 23% / reading 41% proficiency, ranked #232 of 302 in MA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Nantucket Elementary (412 students, 0% FRL); Cyrus Peirce (math 19% / reading 37%, grade F, #216 of 305 statewide, top 71%, 380 students, 0% FRL); Nantucket High (math 42% / reading 57%, grade D, #185 of 343 statewide, top 55%, 586 students, 0% FRL) — zoned schools average 0% FRL vs 16% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 262 units permitted in Nantucket County in 2024 (20 in 5+ unit buildings).
• Nantucket County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $1.04M cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$640k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.