1051 Gardiner Rd #29 · Wiscasset, ME 04578

$98,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 16 Days on market

Built 1999 $690/mo HOA · 44% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• Cash flow +9.1/30.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Tucked away at the end of a quiet dead-end road in Wiscasset, this beautifully updated 1999 16x76 single wide creates a peaceful retreat with a surprisingly private and rural feel while still remaining close to everything Midcoast Maine has to enjoy. The rare 16-foot-wide design provides noticeably more living space and a more open feel than many standard single wide homes. Since 2020, the home has seen extensive remodeling and improvements, blending rustic charm with modern updates throughout. Warm pine plank walls create a cozy Maine cabin feel, while updated flooring flows through much of the home. The remodeled kitchen features newer cabinets, sink, and thoughtful upgrades that make the

Key facts

• 16-foot-wide design
• Newer cabinets
• Remodeled kitchen

Tags

• QUIET DEAD-END ROAD
• 16-FOOT-WIDE DESIGN
• EXTENSIVE REMODELING
• UPDATED FLOORING
• REMODELED KITCHEN
• NEWER CABINETS

Property features AI

Finance

• HOA & community: Has association; Association fee $690 monthly; Lot is land-leased

Exterior

• Parking: Gravel parking; On-site, off-street parking with 5–10 spaces
• Utilities: Electric with circuit breakers; Water: public and well; Sewer: quasi-public; Electric tank water heater
• Home design: Mobile home (single wide); 1999 construction; Pitched metal roof; Wood siding; Gravel/pad foundation
• Construction: Single wide mobile home; Wood siding construction; Pitched metal roof; Gravel/pad foundation
• Exterior features: Deck; Shed(s); Located in a mobile home park; Level and wooded lot; Private road frontage

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the first floor; Bedroom 3 on the first floor
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air; Heat pump (heating and cooling); Pellet stove
• Interior features: One-floor living with bathtub and shower; First-floor primary bedroom with bath; 32–36 inch doorways (accessibility)
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $-76 ($-911/yr) — negative.
• To cash-flow at today's rent, offer at most $85k (13.6% below list).
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $85k (13.6% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 1.7% in Wiscasset — 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.

Location & tenants

• Location reads 72/100 on livability (#52 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.
• Wiscasset Public Schools (rural): math 17% / reading 43% proficiency, ranked #169 of 185 in ME (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 158 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($684 loan paydown + $10k appreciation (10.0% local appreciation)).
• Lincoln County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.

Recommended offer $85,491 (13.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.79×
• Total profit: $49,439
• Equity at exit: $89,097

10-year hold

• IRR: 20.0%
• Equity multiple: 6.42×
• Total profit: $150,207
• Equity at exit: $192,141

Cash invested: $27,692 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04578

• Home prices YoY: 5.8%
• Active inventory: 62
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,565 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$62 /mo · $746/yr
• Insurance: −$41
• HOA: −$690
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $-76

Break-even live

Break-even rent $1,661

Max offer price $85,491

Occupancy floor 100%

Sensitivity live

Price	-10% $-20	-5% $-48	+0% $-76	+5% $-104	+10% $-132
Rent	-10% $-200	-5% $-138	+0% $-76	+5% $-14	+10% $48
Rate	-1.0pp $-26	-0.5pp $-51	base $-76	+0.5pp $-102	+1.0pp $-128

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $690 · $8,280/yr

Listing history 7 events

1. 2026-06-07
   statusdays on market $98,900 Pending 16 DOM
2. 2026-06-04
   days on market $98,900 Active 15 DOM
3. 2026-06-02
   days on market $98,900 Active 14 DOM
4. 2026-06-01
   days on market $98,900 Active 13 DOM
5. 2026-05-31
   days on market $98,900 Active 12 DOM
6. 2026-05-31
   days on market $98,900 Active 11 DOM
7. 2026-05-19
   listed $98,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $746 · $62/mo
• Projected year-2 tax: $1,046 · $87/mo
• Expected delta: +$300/yr (+$25/mo · 40.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,776
• − Mortgage interest: −$5,540
• − Property taxes: −$746
• − Insurance: −$494
• − Repairs & maintenance: −$1,502
• − Management: −$1,502
• − HOA: −$8,280
• − Depreciation: −$2,877
• Taxable loss: −$2,165
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $-391/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wiscasset Public Schools
• NCES district ID: 2313980
• Math proficiency: 17% ▲ 2.00%
• Reading proficiency: 43% ▲ 8.00%
• Median HH income: $46,594
• Composite: 28.66/100
• National rank: #12025
• State rank: #169 of 185 in ME

Livability — Wiscasset

• Score: 72/100
• State rank: #52
• US rank: #5711

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,608

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 33,059 people
• By 2030: 32,050 · -3.1%
• By 2040: 29,490 · -10.8%
• By 2050: 27,201 · -17.7%
• By 2075: 24,598 · -25.6%
• By 2100: 21,989 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 1% Black 1% Asian 1%
• Common ancestry: Iranian 10% Lithuanian 9% Slovak 8%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Lincoln

• 2024 margin: D (+11.2) · D 54.6% · R 43.4% · Other 2.0%
• 2008→2024 swing: -0.8pp no change · 2008: 12.0pp · 2024: 11.2pp
• All cycles: 2024: D+11.2 2020: D+10.3 2016: D+2.4 2012: D+11.7 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.14%
• Current HPI: 311.4962
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-19 Listed $98,900 MREIS

Property tax history

+3.1%/yr

Latest (2025): $746 · +0.0% YoY. Source: county tax records.