10 Romeo Blvd · Sullivan, ME 04664

$148,900

3 bd · 1.0 ba · 980 sqft · Other · 51 Days on market

Built 1989 0.45 ac lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.0/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• Appreciation +7.0/10.0
• DSCR +6.0/10.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

A nice corner lot with road frontage on Taunton Drive and Romeo Boulevard. Mobile home has a metal roof and 1 outbuilding. A nice circular driveway with abundant shade trees.

Key facts

• New floors
• New inside doors
• New appliances

Tags

• NEW WINDOWS
• NEW FLOORS
• NEW FRONT DOOR
• NEW DECK BOARDS
• NEW INSIDE DOORS
• NEW APPLIANCES

Property features AI

Exterior

• Parking: On-site parking with 1–4 spaces; No garage
• Utilities: Well water (private); Private sewer / septic tank; Electric with circuit breakers
• Home design: Mobile home; Other style
• Construction: Metal roof
• Exterior features: Deck; Outbuilding; Trees/woods view

Interior

• Kitchen: Kitchen on first level (14 x 14)
• Bedrooms: Bedroom 1 on first level (14 x 14); Bedroom 2 on first level (12 x 12)
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating; Ceiling fans
• Interior features: Double-pane windows; Unfurnished; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $149k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (10.4% below list).
• Recommended offer: $133k (10.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 24 (rural): math 83% / reading 86% proficiency, ranked #59 of 112 in ME (top 53%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 29 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (4.0% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $34k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $149k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,427 (10.4% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.87×
• Total profit: $36,220
• Equity at exit: $75,862

10-year hold

• IRR: 15.5%
• Equity multiple: 3.52×
• Total profit: $105,015
• Equity at exit: $124,372

Cash invested: $41,692 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04664

• Home prices YoY: 2.4%
• Active inventory: 29
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,334 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$55 /mo · $656/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $157

Break-even live

Break-even rent $1,136

Max offer price $148,900

Occupancy floor 83%

Sensitivity live

Price	-10% $241	-5% $199	+0% $157	+5% $114	+10% $72
Rent	-10% $51	-5% $104	+0% $157	+5% $209	+10% $262
Rate	-1.0pp $232	-0.5pp $194	base $157	+0.5pp $118	+1.0pp $79

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,225
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-30
   status Pending
2. 2026-04-25
   price $148,900
3. 2026-04-18
   price $149,000
4. 2026-04-09
   price $155,000
5. 2026-04-03
   price $159,900
6. 2026-03-29
   price $169,900
7. 2026-03-24
   price $172,900
8. 2026-03-19
   price $174,900
9. 2026-03-16
   price $179,500
10. 2026-03-10
    listed $182,500 Active
11. 2026-01-09
    soldstatus $75,000 Closed 174-char remark

    Show marketing remark (174 chars)

    A nice corner lot with road frontage on Taunton Drive and Romeo Boulevard. Mobile home has a metal roof and 1 outbuilding. A nice circular driveway with abundant shade trees.

12. 2025-12-21
    status Pending 174-char remark

    Show marketing remark (174 chars)

    A nice corner lot with road frontage on Taunton Drive and Romeo Boulevard. Mobile home has a metal roof and 1 outbuilding. A nice circular driveway with abundant shade trees.

13. 2025-11-24
    historical 174-char remark

    Show marketing remark (174 chars)

    A nice corner lot with road frontage on Taunton Drive and Romeo Boulevard. Mobile home has a metal roof and 1 outbuilding. A nice circular driveway with abundant shade trees.

14. 2025-09-29
    status Pending 174-char remark

    Show marketing remark (174 chars)

    A nice corner lot with road frontage on Taunton Drive and Romeo Boulevard. Mobile home has a metal roof and 1 outbuilding. A nice circular driveway with abundant shade trees.

15. 2025-09-22
    listed $94,000 Active 174-char remark

    Show marketing remark (174 chars)

    A nice corner lot with road frontage on Taunton Drive and Romeo Boulevard. Mobile home has a metal roof and 1 outbuilding. A nice circular driveway with abundant shade trees.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $656 · $55/mo
• Projected year-2 tax: $1,341 · $112/mo
• Expected delta: +$685/yr (+$57/mo · 104.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,011
• − Mortgage interest: −$8,341
• − Property taxes: −$656
• − Insurance: −$744
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$4,332
• Taxable loss: −$623
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $2,028/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: RSU 24
• NCES district ID: 2314790
• Math proficiency: 83% ▲ 60.00%
• Reading proficiency: 86% ▲ 34.00%
• Median HH income: $44,304
• Composite: 70.84/100
• National rank: #249
• State rank: #59 of 112 in ME

Livability — Sullivan

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,240

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 53,608 people
• By 2030: 52,594 · -1.9%
• By 2040: 49,556 · -7.6%
• By 2050: 46,152 · -13.9%
• By 2075: 39,678 · -26.0%
• By 2100: 33,690 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Slovak 7% Lithuanian 4% Portuguese 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: D (+11.8) · D 54.7% · R 42.9% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: 19.3pp · 2024: 11.8pp
• All cycles: 2024: D+11.8 2020: D+12.4 2016: D+7.6 2012: D+16.7 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.04%
• Current HPI: 173.6912
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+58.4% since first listed

15 events — show timeline

• 2026-04-30 Pending — MREIS
• 2026-04-25 Price Changed $148,900 MREIS
• 2026-04-18 Price Changed $149,000 MREIS
• 2026-04-09 Price Changed $155,000 MREIS
• 2026-04-03 Price Changed $159,900 MREIS
• 2026-03-29 Price Changed $169,900 MREIS
• 2026-03-24 Price Changed $172,900 MREIS
• 2026-03-19 Price Changed $174,900 MREIS
• 2026-03-16 Price Changed $179,500 MREIS
• 2026-03-10 Listed $182,500 MREIS
• 2026-01-09 Sold (MLS) $75,000 MREIS
• 2025-12-21 Pending — MREIS
• 2025-11-24 Delisted — MREIS
• 2025-09-29 Pending — MREIS
• 2025-09-22 Listed $94,000 MREIS

Property tax history

+1.1%/yr

Latest (2025): $656 · +0.9% YoY. Source: county tax records.