Formula 242 which flavor?
#12
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From: Raleigh, NC
Found one with a new 383 mag stroker in it and a bravo outdrive that's been recently gone through and redone up in new england. While not 100% where i'd like the power numbers to be.. thinking the captains chairs will make for a much more family friendly cockpit when hanging out. The 383's seem like they would be open to taking a 177 blower with low boost as well if I wanted to go down that road in a few years. A few pictures from the owner, hopefully talking with him tomorrow or the next day with some questions I have.


#13
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From: Raleigh, NC
A single engine 242 with an HP 500 502 should run close to 70 (67-68 or so) depending on how in tune it is.
Working on the single engine boat will be much easier. The two small blocks in a 242 are pretty tight plus you have two of everything that can break. In this sized boat, the single engine is preferred (in my opinion).
If you can find one with bolsters, I’d grab that over the captain chairs. The bolsters really make you feel planted in the boat. Mine had captains chairs and I never felt secure in it after its power was upgraded (I had a blown 454 in mine).
Great boats for their size. Be mindful of stringers, bulkheads, and the transom. The grind under the subfloor can hold water. It’s is not fully glassed inside and the wood will eventually rot. 271s do not suffer as much though transoms can still be an issue.
Happy hunting!
Working on the single engine boat will be much easier. The two small blocks in a 242 are pretty tight plus you have two of everything that can break. In this sized boat, the single engine is preferred (in my opinion).
If you can find one with bolsters, I’d grab that over the captain chairs. The bolsters really make you feel planted in the boat. Mine had captains chairs and I never felt secure in it after its power was upgraded (I had a blown 454 in mine).
Great boats for their size. Be mindful of stringers, bulkheads, and the transom. The grind under the subfloor can hold water. It’s is not fully glassed inside and the wood will eventually rot. 271s do not suffer as much though transoms can still be an issue.
Happy hunting!
Thanks! Was not aware of the inside not being fully glassed. I'll keep an eye on them. I agree, I feel like bolsters would work way better when running especially in rougher seas. I do also think the twins sound great but once crap starts wanting to upgrade/break/repair I think I'll wind up hating myself, haha.
#14
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For anyone following along, made an offer on the boat above, trying to get up north in the next 2-3 weeks to see it and close the deal. I know the shop that did the work on the motor install so I'll give them a ring but assuming it checks out I'll hopefully be the new owner in the next several weeks. So stoked!
#15
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From: Milton, Fla!
Outstanding!
Good luck and keep us posted.
Good luck and keep us posted.
For anyone following along, made an offer on the boat above, trying to get up north in the next 2-3 weeks to see it and close the deal. I know the shop that did the work on the motor install so I'll give them a ring but assuming it checks out I'll hopefully be the new owner in the next several weeks. So stoked!
#17
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From: Raleigh, NC
Haha thanks! I'm toying with the idea of just swapping the driver seat for a bolster but we'll see.
#18
It’s going to be slow with a small block. I wouldn’t use one in anything over 22 ft with a single engine. Adding a supercharger to something not built for it is asking for headaches especially with a family oriented boat.
A 330 horse 454 will run in the low 50’s. But do not let the horsepower figure fool you. The 330 builds more torque and at lower rpm than a marine-spec’d small block. The 242 is heavy and is seriously underpowered with a single small block.
Not trying to rain on your parade. That’s a nice looking boat. Just trying to set expectations.
A 330 horse 454 will run in the low 50’s. But do not let the horsepower figure fool you. The 330 builds more torque and at lower rpm than a marine-spec’d small block. The 242 is heavy and is seriously underpowered with a single small block.
Not trying to rain on your parade. That’s a nice looking boat. Just trying to set expectations.
#19
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From: Raleigh, NC
It’s going to be slow with a small block. I wouldn’t use one in anything over 22 ft with a single engine. Adding a supercharger to something not built for it is asking for headaches especially with a family oriented boat.
A 330 horse 454 will run in the low 50’s. But do not let the horsepower figure fool you. The 330 builds more torque and at lower rpm than a marine-spec’d small block. The 242 is heavy and is seriously underpowered with a single small block.
Not trying to rain on your parade. That’s a nice looking boat. Just trying to set expectations.
A 330 horse 454 will run in the low 50’s. But do not let the horsepower figure fool you. The 330 builds more torque and at lower rpm than a marine-spec’d small block. The 242 is heavy and is seriously underpowered with a single small block.
Not trying to rain on your parade. That’s a nice looking boat. Just trying to set expectations.
Fair enough, I do think the twin small block setup would have given me a better time in the speed department for sure. I didn't want to mess with a 7.4 330hp 454 though which is most of what I was finding. Kept trying to find a decent 502 or 454 mag motor but only saw one out in Wyoming worth looking at and was a bit more than I wanted to spend. I could have also went faster and got a lighter hull in something like a checkmate, Baja, wellcraft etc but knowing I'll be out in some rougher water I reluctantly gave up a bit of speed and performance for the 24 degree hull and weight knowing what it'll do to the power numbers.
I just want to get it rolling, lol... Been fawning over boats like this for 20 years so chomping at the bit.
#20
Find a good big block boat and then build the engine that suits you once you've had the boat a while.
I think the key is finding a good candidate first, i.e. no structural issues. Unfortunately, these boats are getting really old. And if previous owners weren't careful with keeping water out of them, the issues accelerate. Formula's way of building them left them with issues that cannot be avoided - foam around the tank with exposed wood in the stringer grid. The tank sweats, the foam takes on water, the stringer grid absorbs the water and rots. Now, most of what is used for the stringer grid is not as structural as you may think - the strength around the tank is really in the glass (how much strength are you really going to get from 1/2-inch plywood?). But once it gets enough moisture to enter into the cabin wood, things really get bad. This may not be a huge thing on the smaller boats, but a 311 or 357 will end up with some serious flex.
If you're looking for turnkey and reasonably fast, a 271 in the end could be a better option for the money. The stringer grid is glass, and the only wood used is in the transom (that's a for-sure statement for the FasTech models... not absolutely certain on the SR1... a call to Formula would clear that up).
Just my opinion from having spent some time with these boats.
I think the key is finding a good candidate first, i.e. no structural issues. Unfortunately, these boats are getting really old. And if previous owners weren't careful with keeping water out of them, the issues accelerate. Formula's way of building them left them with issues that cannot be avoided - foam around the tank with exposed wood in the stringer grid. The tank sweats, the foam takes on water, the stringer grid absorbs the water and rots. Now, most of what is used for the stringer grid is not as structural as you may think - the strength around the tank is really in the glass (how much strength are you really going to get from 1/2-inch plywood?). But once it gets enough moisture to enter into the cabin wood, things really get bad. This may not be a huge thing on the smaller boats, but a 311 or 357 will end up with some serious flex.
If you're looking for turnkey and reasonably fast, a 271 in the end could be a better option for the money. The stringer grid is glass, and the only wood used is in the transom (that's a for-sure statement for the FasTech models... not absolutely certain on the SR1... a call to Formula would clear that up).
Just my opinion from having spent some time with these boats.



