113 Woodland Rd

Woodland, ME 04668

$24,900D+

2 bd · 1.0 ba · 840 sqft · Built 1974 · MultiFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,071/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$59
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $656/mo
• Annual: $7,873/yr
• Cap rate: 37.91%
• Cash-on-cash: 112.92%
• DSCR: 6.02
• 1% rule: 4.30%
• Cash to close: $6,972

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $25k.
• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• It's been on market 15 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• In year one you build about $251 of equity ($172 loan paydown + $79 appreciation (0.3% local appreciation)).
• Location reads 74/100 on livability (#45 in ME, #4,798 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D, amenities F.
• Princeton Public Schools (rural): math 25% / reading 35% proficiency, ranked #171 of 185 in ME (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 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.
• 2 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.