498 Old County Rd

Eastport, ME 04666

$75,000B+

4 bd · 1.5 ba · 1,400 sqft · Built 1976 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,676/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$352
• Net cashflow: $705/mo
• Annual: $8,457/yr
• Cap rate: 17.57%
• Cash-on-cash: 40.27%
• DSCR: 2.79
• 1% rule: 2.23%
• Cash to close: $21,000

Investor read

• This is a 4-bed/1.5-bath single-family listed at $75k.
• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.3%/yr); year-one equity from $519 of loan paydown is wiped out by about $977 of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#69 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: health & safety C-, schools D-, amenities F.
• Pembroke Public Schools (rural): math 95% / reading 95% proficiency, ranked #18 of 112 in ME (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: property tax is 3.1% of price.
• Market conditions: 18 active listings in the ZIP; 67 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 74% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.