150 Church St

Turner, ME 04220

$62,000A-

2 bd · 1.0 ba · 540 sqft · Built 1957 · SingleFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,577/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $818/mo
• Annual: $9,810/yr
• Cap rate: 22.12%
• Cash-on-cash: 56.51%
• DSCR: 3.51
• 1% rule: 2.54%
• Cash to close: $17,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $62k.
• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• It's been on market 27 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($429 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• RSU 10 (rural): math 72% / reading 79% proficiency, ranked #107 of 112 in ME (top 96%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Hartford-Sumner Elementary School (math 77% / reading 82%, grade A, #182 of 294 statewide, top 69%, 303 students, 54% FRL); Mountain Valley Middle School (math 69% / reading 78%, grade A, #79 of 85 statewide, top 95%, 354 students, 76% FRL); Buckfield Jr-Sr High School (math 87% / reading 92%, grade A+, #56 of 108 statewide, top 60%, 222 students, 40% FRL) — zoned schools at 57% FRL track the district average.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).
• Oxford County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 11y 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 (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1957 — 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.
• 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.