6 Bluenose St

Jonesport, ME 04649

$135,000C

5 bd · 2.0 ba · 1,728 sqft · Built 1890 · SingleFamily · Pending · 671 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,631/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$342
• Net cashflow: $350/mo
• Annual: $4,201/yr
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• 1% rule: 1.21%
• Cash to close: $37,800

Investor read

• This is a 5-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 671 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.6%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Moosabec CSD (rural): math 0% / reading 40% proficiency, ranked #185 of 185 in ME (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 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.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $90k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-2.6% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 671 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.