25 Hunting Ridge Rd

Fryeburg, ME 03813

$195,000B-

3 bd · 1.0 ba · 1,739 sqft · Built 1975 · Manufactured · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,000/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$250
• HOA: −$22
• Vac / Maint / Mgmt: −$420
• Net cashflow: $285/mo
• Annual: $3,426/yr
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• 1% rule: 1.03%
• Cash to close: $54,600

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 112 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#77 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Conway School District (rural): math 28% / reading 46% proficiency, ranked #73 of 98 in NH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 comparable units currently listed for rent nearby; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $60k; list at $195k implies a 225% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.