717-719 Stony Hill Rd

Wilbraham, MA 01095

$415,000C+

4 bd · 3.6 ba · 2,578 sqft · Built 1783 · MultiFamily · Contingent · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,000/mo
• Mortgage (P&I): −$2,176
• Tax + insurance: −$692
• HOA: −$0
• Vac / Maint / Mgmt: −$1,050
• Net cashflow: $1,082/mo
• Annual: $12,984/yr
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• 1% rule: 1.20%
• Cash to close: $116,200

Investor read

• This is a 2 × 2-bed/1.8-bath units multifamily listed at $415k. Condition is rated good.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $541/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $415k).
• It's been on market 36 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $403k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#94 in MA, #4,952 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A; Watch: amenities F, cost of living F, health & safety F.
• Hampden-Wilbraham (suburban): math 43% / reading 57% proficiency, ranked #110 of 302 in MA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Wilbraham Middle (math 41% / reading 53%, grade D+, #102 of 305 statewide, top 35%, 599 students, 0% FRL); Minnechaug Regional High (math 68% / reading 70%, grade B, #90 of 343 statewide, top 27%, 984 students, 0% FRL).
• Watch-outs: built in 1783 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 38 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $116k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.4% vs local median 1.8% in Wilbraham — 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

• It's been on market 36 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 1783 — 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 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.