310 Old Chatham Rd Unit A-21

South Dennis, MA 02660

$72,900B+

3 bd · 1.0 ba · 727 sqft · Built 1974 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,772/mo
• Mortgage (P&I): −$382
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $896/mo
• Annual: $10,755/yr
• Cap rate: 21.05%
• Cash-on-cash: 52.69%
• DSCR: 3.34
• 1% rule: 2.43%
• Cash to close: $20,412

Investor read

• This is a 3-bed/1.0-bath single-family listed at $73k. Condition is rated good.
• At list price, monthly cash flow is $896 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• It's been on market 83 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $504 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#183 in MA) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A, employment A-; Watch: schools D+, amenities F, commute F.
• Dennis-Yarmouth (suburban): math 31% / reading 42% proficiency, ranked #222 of 302 in MA (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 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 3y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 21.0% vs local median 2.1% in South Dennis — 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 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.