1148 American Legion Hwy

North Westport, MA 02790

$1,595,000C+

169 bd · 169.0 ba · 3,644 sqft · Built 1948 · MultiFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $18,062/mo
• Mortgage (P&I): −$8,364
• Tax + insurance: −$1,175
• HOA: −$0
• Vac / Maint / Mgmt: −$3,793
• Net cashflow: $4,730/mo
• Annual: $56,761/yr
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• 1% rule: 1.13%
• Cash to close: $446,600

Investor read

• This is a 13 × 1-bed/1-bath units multifamily listed at $1.59M.
• 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).
• It's been on market 43 days — a 3% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.55M (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 57/100 on livability (#233 in MA) — a working-class tenant base; expect higher turnover. Strengths: employment A, housing A, crime A-; Watch: schools F, amenities F, commute F.
• 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.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 57 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• 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.
• 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.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1948 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.