27 Go Camping Way #280

Saco, ME 04064

$48,000A-

1 bd · 1.0 ba · 637 sqft · Built 2005 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,657/mo
• Mortgage (P&I): −$252
• Tax + insurance: −$80
• HOA: −$641
• Vac / Maint / Mgmt: −$348
• Net cashflow: $336/mo
• Annual: $4,036/yr
• Cap rate: 14.70%
• Cash-on-cash: 30.03%
• DSCR: 2.34
• 1% rule: 3.45%
• Cash to close: $13,440

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $48k. Condition is rated fair.
• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• It's been on market 22 days — a 2% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $47k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#5 in ME, #732 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Saco Public Schools (suburban): math 88% / reading 88% proficiency, ranked #37 of 112 in ME (top 33%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: HOA is 39% of rent.
• Market conditions: Rents rising fast (+4.9%/yr); 171 active listings in the ZIP; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.7% vs local median 2.7% in Saco — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — Some discoloration
• Minor: interior walls — Some discoloration
• Minor: kitchen appliances — Dated design
• Minor: bathroom fixtures — Dated design
• Minor: landscaping — Some overgrown vegetation