233 Marion Rd · Wareham Center, MA 02571

$210,000

2 bd · 1.5 ba · 1,020 sqft · SingleFamily public records · 179 Days on market

Built 1780 0.26 ac lot $206/sqft · 52% below area

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Why this score? — see what drove the C 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

Key facts

• Spacious backyard
• Additional lot
• New roof

Tags

• NEW ROOF
• SPACIOUS BACKYARD
• ADDITIONAL LOT
• ACCESSORY DWELLING UNIT
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.7% in Wareham Center — 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 69/100 on livability (#146 in MA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, health & safety A; Watch: schools D+, employment D+, amenities F.
• Wareham (suburban): math 17% / reading 33% proficiency, ranked #271 of 302 in MA (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 48 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,255 units permitted in Plymouth County in 2024 (411 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1780 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1780 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (median comp): $441,426
• List price: $210,000
• Delta: -52.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
261 Marion Rd	0.17mi	2/1.0	1,057 (+4%)	8mo	$411,000	$389	77
179 Marion Rd	0.21mi	3/1.0 (+1)	1,000 (-2%)	11mo	$450,000	$450	71
6 Bourne Ter	0.33mi	3/1.0 (+1)	984 (-4%)	2mo	$405,000	$412	70
10 Longmeadow Dr	0.37mi	3/1.0 (+1)	1,000 (-2%)	3mo	$441,000	$441	70
4 Daniel Rd	0.44mi	3/1.0 (+1)	1,008 (-1%)	8mo	$450,000	$446	64
41 Camardo Dr	0.46mi	3/1.0 (+1)	1,008 (-1%)	12mo	$460,000	$456	60
9 Woodville Way	0.44mi	3/1.5 (+1)	924 (-9%)	2mo	$600,000	$649	57
9 Woodville Way	0.44mi	3/2.0 (+1)	924 (-9%)	2mo	$600,000	$649	55
16 13th Ave	0.52mi	3/1.5 (+1)	994 (-2%)	16mo	$400,000	$402	53
30 Highland Shores Dr	0.73mi	2/1.5	1,025 (+0%)	18mo	$555,000	$541	50
11 14th Ave	0.48mi	2/1.0	1,146 (+12%)	12mo	$485,000	$423	45
6 9th Ave	0.59mi	3/1.0 (+1)	936 (-8%)	20mo	$400,000	$427	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-2,087
• Equity at exit: $31,312

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $39,286
• Equity at exit: $18,157

Cash invested: $58,800 (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 02571

• Home prices YoY: -33.7%
• Active inventory: 48
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,379 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$189 /mo · $2,264/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $502

Break-even live

Break-even rent $1,744

Max offer price $210,000

Occupancy floor 74%

Sensitivity live

Price	-10% $621	-5% $561	+0% $502	+5% $442	+10% $383
Rent	-10% $314	-5% $408	+0% $502	+5% $596	+10% $690
Rate	-1.0pp $607	-0.5pp $555	base $502	+0.5pp $447	+1.0pp $392

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 High St #3 Wareham, MA	1.0	1.0	800	$2,000	$2.50	0d	1	0.76mi
445 Main St Unit 2 Wareham, MA	3.0	1.0	1400	$2,650	$1.89	44d	1	0.87mi
35 Rosebrook Pl Unit 1008 Wareham, MA	2.0	2.0	1108	$2,700	$2.44	19d	1	1.42mi
35 Rosebrook Pl Unit 1213 Wareham, MA	1.0	1.0	805	$2,300	$2.86	19d	1	1.42mi

Listing history 37 events

1. 2026-06-21
   days on market $210,000 Active 179 DOM
2. 2026-06-18
   days on market $210,000 Active 176 DOM
3. 2026-06-17
   days on market $210,000 Active 175 DOM
4. 2026-06-16
   days on market $210,000 Active 174 DOM
5. 2026-06-15
   days on market $210,000 Active 173 DOM
6. 2026-06-13
   days on market $210,000 Active 171 DOM
7. 2026-06-13
   days on market $210,000 Active 170 DOM
8. 2026-06-09
   days on market $210,000 Active 167 DOM
9. 2026-06-08
   statusdays on market $210,000 Active 166 DOM
10. 2026-06-07
    statusdays on market $210,000 Reactivated 165 DOM
11. 2026-06-01
    days on market $210,000 Active 162 DOM
12. 2026-05-31
    days on market $210,000 Active 161 DOM
13. 2026-03-11
    price $210,000 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

14. 2026-03-02
    status Reactivated 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

15. 2026-02-28
    historical 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

16. 2026-02-04
    status Back On Market 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

17. 2026-01-19
    status Under Agreement 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

18. 2026-01-05
    historical Contingent 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

19. 2025-12-18
    status Back On Market 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

20. 2025-12-06
    historical Contingent 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

21. 2025-12-01
    listed $230,000 New 683-char remark

    Show marketing remark (683 chars)

    Developers and Contractors Come Bring Your Vision to Life. The existing house has been gutted and features a brand-new roof, giving you a solid starting point for your renovation plans. Enjoy a spacious backyard, ideal for family gatherings, gardening, or simply relaxing outdoors. This sale includes an additional 0.4-acre lot (17,270 sq. ft.), perfect for an Accessory Dwelling Unit—survey of property lines already completed! Conveniently located near shopping, Swifts Beach, schools, Wareham Crossing, and major highways, this property combines opportunity with accessibility. Septic has failed. Being Sold As-Is. Will not qualify for FHA or conventional financing. b

22. 2024-02-28
    soldstatus $165,000 Sold 358-char remark

    Show marketing remark (358 chars)

    Bring your imagination and your contractor and bring this home back to life. Spacious back yard for family gatherings and gardens. Also includes additional 0.4 acre (17,270 sq.ft.) potentially buildable lot. Survey of property lines has been done. Convenient to shopping, Swifts Beach, schools, Wareham Crossing and highways. Property sold as is.

23. 2024-01-22
    status Under Agreement 358-char remark

    Show marketing remark (358 chars)

    Bring your imagination and your contractor and bring this home back to life. Spacious back yard for family gatherings and gardens. Also includes additional 0.4 acre (17,270 sq.ft.) potentially buildable lot. Survey of property lines has been done. Convenient to shopping, Swifts Beach, schools, Wareham Crossing and highways. Property sold as is.

24. 2024-01-08
    historical Contingent 358-char remark

    Show marketing remark (358 chars)

    Bring your imagination and your contractor and bring this home back to life. Spacious back yard for family gatherings and gardens. Also includes additional 0.4 acre (17,270 sq.ft.) potentially buildable lot. Survey of property lines has been done. Convenient to shopping, Swifts Beach, schools, Wareham Crossing and highways. Property sold as is.

25. 2023-09-19
    listed $198,000 New 358-char remark

    Show marketing remark (358 chars)

    Bring your imagination and your contractor and bring this home back to life. Spacious back yard for family gatherings and gardens. Also includes additional 0.4 acre (17,270 sq.ft.) potentially buildable lot. Survey of property lines has been done. Convenient to shopping, Swifts Beach, schools, Wareham Crossing and highways. Property sold as is.

26. 2023-05-24
    soldstatus $130,000 Sold
27. 2023-04-14
    status Under Agreement
28. 2023-03-31
    historical Contingent
29. 2023-02-08
    status Back On Market
30. 2023-01-31
    status Under Agreement
31. 2023-01-20
    historical Contingent
32. 2023-01-15
    price $190,000
33. 2022-12-04
    status Back On Market
34. 2022-08-28
    status Under Agreement
35. 2022-08-14
    historical Contingent
36. 2022-08-02
    price $150,000
37. 2022-07-26
    listed $175,000 New

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

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $2,264 · $189/mo
• Projected year-2 tax: $2,424 · $202/mo
• Expected delta: +$160/yr (+$13/mo · 7.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,543
• − Mortgage interest: −$11,763
• − Property taxes: −$2,264
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,283
• − Management: −$2,283
• − Depreciation: −$6,109
• Taxable income: $2,790
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $5,350/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.

Schools (NCES district)

• District: Wareham
• NCES district ID: 2512060
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $58,171
• Composite: 22.78/100
• National rank: #8024
• State rank: #271 of 302 in MA

Livability — Wareham Center

• Score: 69/100
• State rank: #146
• US rank: #9063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,538

Population outlook (Plymouth County) Hauer SSP2

• Today (2025): 533,105 people
• By 2030: 541,862 · +1.6%
• By 2040: 549,791 · +3.1%
• By 2050: 542,476 · +1.8%
• By 2075: 518,429 · -2.8%
• By 2100: 448,179 · -15.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 7% Black 2%
• Common ancestry: Slovak 9% Russian 6% Lithuanian 6%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Indo-European 4% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Plymouth

• 2024 margin: Lean D (+8.8) · D 53.6% · R 44.7% · Other 1.7%
• 2008→2024 swing: +1.3pp toward D · 2008: 7.6pp · 2024: 8.8pp
• All cycles: 2024: D+8.8 2020: D+17.4 2016: D+7.2 2012: D+3.8 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.12%
• Current HPI: 311.1966
• Rent YoY: —
• Metro: —
• 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

+20.0% since first listed

25 events — show timeline

• 2026-03-11 Price Changed $210,000 MLS PIN
• 2026-03-02 Relisted — MLS PIN
• 2026-02-28 Listing Removed — MLS PIN
• 2026-02-04 Relisted — MLS PIN
• 2026-01-19 Pending — MLS PIN
• 2026-01-05 Contingent — MLS PIN
• 2025-12-18 Relisted — MLS PIN
• 2025-12-06 Contingent — MLS PIN
• 2025-12-01 Listed $230,000 MLS PIN
• 2024-02-28 Sold (MLS) $165,000 MLS PIN
• 2024-01-22 Pending — MLS PIN
• 2024-01-08 Contingent — MLS PIN
• 2023-09-19 Listed $198,000 MLS PIN
• 2023-05-24 Sold (MLS) $130,000 MLS PIN
• 2023-04-14 Pending — MLS PIN
• 2023-03-31 Contingent — MLS PIN
• 2023-02-08 Relisted — MLS PIN
• 2023-01-31 Pending — MLS PIN
• 2023-01-20 Contingent — MLS PIN
• 2023-01-15 Price Changed $190,000 MLS PIN
• 2022-12-04 Relisted — MLS PIN
• 2022-08-28 Pending — MLS PIN
• 2022-08-14 Contingent — MLS PIN
• 2022-08-02 Price Changed $150,000 MLS PIN
• 2022-07-26 Listed $175,000 MLS PIN

Property tax history

+2.9%/yr

Latest (2025): $2,264 · +0.9% YoY. Source: county tax records.