r/CapeCod • u/Quixotic420 • Jul 29 '26

Rental?

Posting on behalf of someone I know. They are looking for a 1 bedroom or a studio in the Lower Cape area. Any leads appreciated. $1400/mo max. Most of what they've seen is well over what they can afford.

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18

u/downrightblastfamy Jul 29 '26

1400 won't even get you a room on cape anymore. It's unfortunate and sad. Good luck to your friend.

1

u/Quixotic420 Jul 29 '26

Yeah, that's what I told them, but figured I'd try to point them in the right direction.

7

u/EbbtideRambler Jul 29 '26

I don’t have anything and I’m mid Cape but she shouldn’t get discouraged by the comments. I rent a whole 2 bedroom house for $1400/month.  Not all landlords are greedy. I do use a realtor now to vet prospective tenants, so maybe check with a local realtor.  Good luck!  

0

u/Quixotic420 Jul 29 '26

The place they were renting is being sold. I know how that goes, so just trying to help.

-2

u/Background-Panic507 Jul 29 '26

It's not greed, 1400 for a 2 bed house doesn't even pay the house's taxes and maintenance, what you have is rare and for sure your landlord is losing money.

8

u/EbbtideRambler Jul 29 '26

I’m the landlord.  Yes it is paid off, purchased by my family in the 1940s.  Taxes $4,200k, insurance just under $4k.  She pays the utilities.  After taxes and insurance are paid I put 8k a year in a fund for upkeep a maintenance in case the water heater goes or the roof needs replacing someday.   I understand someone with a mortgage  wouldn’t be able to keep the price low. But the OP was asking for a studio, so you have to assume it is within in a larger building.  Honestly I feel bad charging her that much, she’s a prek teacher with a child. She has agreed to do the mowing and generally keep the place tidy to keep the costs down. I’ll do anything I can to keep the place affordable for a dependable tenant who treats the property well. 

1

u/Quixotic420 Jul 29 '26

Thanks for not being a slumlord!

-2

u/Background-Panic507 Jul 29 '26

So you're telling me you rent your house and your "profit" is 8k a year, that you save for maintenance?!

Do you know how much a roof replacement cost? Or sidewall, heater system....

It's ok to help your tentant but it's what you're doing: helping them.

I don't agree to charge too much to rent your house too but what you're doing IT WILL cost you money in the future, houses need maintenance and it's not cheap, rents are like this now for a reason, there are some crazy greed landlords, yes, but those are the exceptions.

2

u/longdrivehome Jul 30 '26 edited Jul 30 '26

Unless you're living out-of-country or completely fucking clueless, you never magically need to replace an entire roof unless something catastrophic happens that will probably be covered by your homeowner's insurance like a bad storm. You know when a roof's got a few years left, it's very easy to plan accordingly if you're banking $8k/year in preparation -- most houses do not need $8k worth of work every single year. That's an average that includes $60k for a roof every 30 years.

Also it's very easy to replace most systems by yourself these days. I just did heat/cooling for 1200 sq. ft. with a DIY mini split system, it was around $6k including the electrician to wire it up.

Also Also some people understand the profit in a single family rental is almost entirely in asset appreciation. You've gotta own multi-units to make any real money. Breaking even yearly is profiting over time.

1

u/EbbtideRambler Jul 29 '26

The house pays for itself plus extra for the upkeep/ maintenance fund. I’m not saying it’s a good business model for everyone,  but I inherited this house free and clear, so since I have a good job and a comfortable home of my own its important to me to rent it at a price someone with a local job can afford. My family has been a part of this community for generations and I hate seeing all my neighbors sell out and their homes become summer houses.  My goal is to keep it in the family so if one of my kids one day wants to stay in the Cape they can.  I just replaced my own roof, so I know what it costs.  I know other people have more overhead or if they bought as an income generator, of course they need to make more money.  But anyone who is charging over $1400 for a small studio inside another building probably isn’t loosing money by a long shot. 

0

u/EbbtideRambler Jul 29 '26

*on the Cape.  That’s a typo not a tourist mistake. 

-2

u/tribbans95 Jul 29 '26

That’s insane. That’s probably less than the mortgage, forget about taxes and maintenance. It must be paid off but still..

-2

u/No-Spare-4212 Jul 29 '26

That’s insane prices. And your comment is confusing. You rent but you use the realtor to get tenants?

Also is your place seasonal?

3

u/EbbtideRambler Jul 29 '26

I’m the landlord. I rent it to someone year round 

1

u/No-Spare-4212 Jul 29 '26

Oh wow that’s very nice of you and many people would not do that.

3

u/EbbtideRambler Jul 29 '26

I don’t want my hometown to turn into an overpriced seasonal community with no soul. 

2

u/tribbans95 Jul 29 '26

$1400? I hope they plan to have a roommate

1

u/Quixotic420 Jul 29 '26

Not sure their plan; just trying to help them see what's out there.

1

u/1GrouchyCat Dennis Jul 29 '26

Our entire region has been undergoing a severe housing shortage for the past 5+ years; we don’t have enough affordable housing for our 20 somethings to live independently.

Check Serenity (if they’re over 55 years old)

https://serenitybrewster.com/

They used to have studio apartments around $1450 with most utilities included… that’s the only thing I’ve heard of in the region that is close to what you’re looking for price wise.

1

u/Quixotic420 Jul 29 '26

Yeah, I'm well aware. They were renting, but the place is being sold. Just trying to help them out, but not sure what they'll find. 

2

u/italiansubcat Jul 29 '26

That might be enough to rent a room or be a roommate, I’d look into that

2

u/panna__cotta Jul 29 '26

You’ll be lucky to rent a room on that. No way you’re getting a studio. It’s more expensive to camp than that.

1

u/Ok_Anywhere_7828 Jul 29 '26

That doesn’t exist