8 Brigantine Ave

Barnstable Town, MA 02655

$589,000D

2 bd · 1.5 ba · 1,060 sqft · Built 1981 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,813/mo
• Mortgage (P&I): −$3,089
• Tax + insurance: −$532
• HOA: −$0
• Vac / Maint / Mgmt: −$1,011
• Net cashflow: $182/mo
• Annual: $2,179/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• 1% rule: 0.82%
• Cash to close: $164,920

Investor read

• This is a 2-bed/1.5-bath single-family listed at $589k.
• At list price, monthly cash flow is $182 ($2k/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 $481k (18.3% below list).
• It's been on market 27 days — a 2% lower offer ($580k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $481k (18.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#169 in MA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A-, commute B+; Watch: amenities F, cost of living F, health & safety D-.
• Barnstable (urban): math 25% / reading 42% proficiency, ranked #237 of 302 in MA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Villages Elementary School (math 37% / reading 62%, grade D, #330 of 938 statewide, top 38%, 401 students, 0% FRL); Barnstable Intermediate School (math 22% / reading 35%, grade F, #214 of 305 statewide, top 70%, 651 students, 0% FRL); Barnstable High (math 28% / reading 49%, grade F, #233 of 343 statewide, top 69%, 1,763 students, 0% FRL) — zoned schools average 0% FRL vs 31% district-wide (31 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 46 active listings in the ZIP; 657 units permitted in Barnstable County in 2024 (178 in 5+ unit buildings).
• Barnstable County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $272k; list at $589k implies a 117% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 3.1% in Barnstable Town — 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

• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.