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$420,000

For Sale - Active
89 Hope Street Ext, Attleboro, MA 02703
2 Beds
1.0 Baths
1,052 Square Feet
0.15 Acres Lot
Built in 1940
For Sale - Active
Units n/a
Checked: 12 hours ago
Updated: Apr 30, 2025 at 03:26AM

Investment Summary


Monthly Cash Flow
-$784
Cap Rate
4.0%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.4%

Property Description


0.15 Acres Lot
Built in 1940
For Sale - Active
Units n/a

Lovingly remodeled and extensively updated, spacious 2 BR bungalow with touches of luxury you would find in higher priced homes. Located on a dead end street - close to the city center & commuter rail station with easy highway access; Major systems are new, with recently added mini split system and solar panels; Interior is bright with lots of windows - open floor plan connects the spacious living and dining area which is ideal for relaxing or entertaining, with a freshly updated kitchen; Partially finished basement has a potential for adding 3rd bedroom, family/play room and office; Exterior space consists of a large, fenced in, private yard and a double size garage for your vehicles or workshop; Truly move in condition, just unpack and enjoy your new home;

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Location


Property Details


Parking

  • Description: Detached, Paved Drive
  • Details: Detached, Storage, Workshop in Garage, Off Street
  • Garage Spaces: 2
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Full, Partially Finished

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Concrete Perimeter
  • Roof Type: Gable

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: ATTLM:58L:8
  • Lot Size: 6400 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow
  • Year Built: 1940

Tax Information

  • Annual Tax: $3,788

Utilities

  • Water & Sewer: Public
  • Heating: Active Solar, Steam, Oil, Electric, Pellet Stove, Ductless
  • Cooling: Central Air, Ductless

Location

  • County: Bristol

Investment Summary


Monthly Cash Flow
-$784
Cap Rate
4.0%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.4%

Purchase Details

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Purchase price:
$420,000
Amount financed:
-$336,000
Down payment:
$84,000
Closing costs:
$12,600
Rehab costs:
$0
Initial cash invested:
$96,600
Square feet:
1,052
Cost per square foot:
$399
Monthly rent per square foot:
$2.38

Financing Details

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Loan amount:
$336,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$2,193
Property tax:
$316
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,684

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$316-$3,788
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (0%)
0%$0$0
Total operating expenses: (38%)
38%-$941-$11,288

Cash Flow


Monthly Yearly
Net operating income:
$1,409 $16,908
Mortgage payments:
-$2,193 -$26,316
Cash flow:
$784 $9,408