1148 American Legion Hwy · Westport, MA 02790

$1,595,000

169 bd · 169.0 ba · 3,644 sqft · MultiFamily public records · 40 Days on market

Built 1948 1.00 ac lot $438/sqft · 157% above 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 +27.5/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

STRONG INCOME POTENTIAL. Cash-flow positive 13-unit multi-family investment opportunity, or possible commercial re-development opportunity (property is located in Business zoning district), located in the desirable coastal town of Westport, MA. 1148 American Legion Highway is known as “177 Studio Apartments”, a one-level 13-unit studio apartment building. The 1-acre property has significant exposure along well-traveled MA State Rte. 177, with close proximity to Interstate 195 and U.S. Rte. 6. The multi-family building situated on a 1-acre parcel (28-37-0) can also be sold with an adjacent .75-acre vacant parcel (28-32D-0). Studio apartments each have own full bath (w/ shower), fridge & kitchen sink. See floor plan. 177 Studio Apartments has been owned by the same owner for over 50 years and has a history of long-term, stable at-will tenancy. Natural gas. Septic & well. Consult pages 30-46 in Westport zoning bylaws attached to listing.

Key facts

• Septic
• Well
• Full bath

Tags

• BUSINESS ZONING DISTRICT
• FULL BATH
• NATURAL GAS
• SEPTIC
• WELL

What this means for you Summary

Snapshot

• This is a 13 × 1-bed/1-bath units multifamily listed at $1.59M.

Deal economics

• At list price, monthly cash flow is $5k ($57k/yr) — positive. Per door: $364/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.59M).
• Recommended offer: $1.55M (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Westport (rural): math 39% / reading 48% proficiency, ranked #165 of 302 in MA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 49 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $48k of value loss. Plan a longer hold.
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $447k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $1,547,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• GRM: 7.4

CMA / ARV

• ARV (median comp): $616,960
• List price: $1,595,000
• Delta: 158.53%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.09×
• Total profit: $42,161
• Equity at exit: $237,820

10-year hold

• IRR: 12.0%
• Equity multiple: 1.94×
• Total profit: $422,035
• Equity at exit: $137,906

Cash invested: $446,600 (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 02790

• Home prices YoY: -32.7%
• Active inventory: 49
• Price-to-rent: 95.7×

Monthly cashflow live

• Estimated rent: $18,062 medium
• Mortgage (P&I): −$8,364
• Tax from tax record: −$510 /mo · $6,120/yr
• Insurance: −$665
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,793
• Net cashflow: $4,730

Break-even live

Break-even rent $12,075

Max offer price $1,595,000

Occupancy floor 69%

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	1	1	$18,057
Total (13 units)			$18,062

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: $398,750
• Closing costs: $47,850
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,595,000 Active 40 DOM
2. 2026-06-17
   days on market $1,595,000 Active 39 DOM
3. 2026-06-16
   days on market $1,595,000 Active 38 DOM
4. 2026-06-15
   days on market $1,595,000 Active 37 DOM
5. 2026-06-13
   days on market $1,595,000 Active 35 DOM
6. 2026-06-09
   days on market $1,595,000 Active 31 DOM
7. 2026-06-08
   days on market $1,595,000 Active 30 DOM
8. 2026-06-07
   days on market $1,595,000 Active 29 DOM
9. 2026-06-05
   days on market $1,595,000 Active 26 DOM
10. 2026-06-03
    days on market $1,595,000 Active 25 DOM
11. 2026-06-02
    days on market $1,595,000 Active 24 DOM
12. 2026-06-01
    days on market $1,595,000 Active 23 DOM
13. 2026-05-31
    days on market $1,595,000 Active 22 DOM
14. 2026-05-09
    listed $1,595,000 New 968-char remark

    Show marketing remark (968 chars)

    STRONG INCOME POTENTIAL. Cash-flow positive 13-unit multi-family investment opportunity, or possible commercial re-development opportunity (property is located in Business zoning district), located in the desirable coastal town of Westport, MA. 1148 American Legion Highway is known as “177 Studio Apartments”, a one-level 13-unit studio apartment building. The 1-acre property has significant exposure along well-traveled MA State Rte. 177, with close proximity to Interstate 195 and U.S. Rte. 6. The multi-family building situated on a 1-acre parcel (28-37-0) can also be sold with an adjacent .75-acre vacant parcel (28-32D-0). Studio apartments each have own full bath (w/ shower), fridge & kitchen sink. See floor plan. 177 Studio Apartments has been owned by the same owner for over 50 years and has a history of long-term, stable at-will tenancy. Natural gas. Septic & well. Consult pages 30-46 in Westport zoning bylaws attached to listing.

ⓘ 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: $6,120 · $510/mo
• Projected year-2 tax: $12,869 · $1,072/mo
• Expected delta: +$6,749/yr (+$562/mo · 110.3%)

ⓘ 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 ≥96°F today · 15 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $216,744
• − Mortgage interest: −$89,345
• − Property taxes: −$6,120
• − Insurance: −$7,975
• − Repairs & maintenance: −$17,340
• − Management: −$17,340
• − Depreciation: −$46,400
• Taxable income: $32,225
• Est. tax owed @ 24.0%: −$7,734
• After-tax cash flow: $49,026/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: Westport
• NCES district ID: 2512780
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,996
• Composite: 39.66/100
• National rank: #3913
• State rank: #165 of 302 in MA

Livability — Westport

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: North Westport, MA
• Population (ZIP): 16,725

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 570,212 people
• By 2030: 571,181 · +0.2%
• By 2040: 565,389 · -0.8%
• By 2050: 552,141 · -3.2%
• By 2075: 520,923 · -8.6%
• By 2100: 474,363 · -16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Russian 36% Lithuanian 15% Romanian 4%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Other Indo-European 13% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Bristol

• 2024 margin: Toss-up / Even · D 49.8% · R 48.5% · Other 1.8%
• 2008→2024 swing: -21.9pp toward R · 2008: 23.2pp · 2024: 1.3pp
• All cycles: 2024: D+1.3 2020: D+12.0 2016: D+9.3 2012: D+20.5 2008: D+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.20%
• Current HPI: 309.6882
• 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

1 event — show timeline

• 2026-05-09 Listed $1,595,000 MLS PIN

Property tax history

+5.1%/yr

Latest (2023): $6,120 · +1.3% YoY. Source: county tax records.