208 Belgrade Rd · Oakland, ME 04963

$124,900

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 44 Days on market

Built 1974 0.46 ac lot $149/sqft · at area comps Est $158k · 21% under

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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).

• Cash flow +15.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +7.5/10.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Well cared for home on a nice country lot only minutes from town & in move in shape! This affordable home offers a spacious living room, eat-in kitchen with appliances, laminate flooring throughout, a mud room and even an oversized shed! There are also 2 nice additional rooms that are not heated. One was used as a third bedroom in the past. Great rooms to use in the warmer weather. Newer metal roof done in 2023. Home has city water too! Seller will be installing a fence on the right side of the lot. Don't Miss! INFORMATION AVAILABLE REGARDING CONVENTIONAL FINANCING.

Key facts

• 0.46 acre lot
• Parking
• Built 1974

Property features AI

Exterior

• Parking: Paved parking on site with 1–4 spaces
• Utilities: Public water; Private sewer; Electric service with circuit breakers; Electric water heater; Utilities are on
• Home design: Mobile home (single wide); Model/Make: Beaumont; Built in 1974
• Construction: Aluminum and vinyl siding; Metal roof; Slab and pillar/post/pier foundation
• Exterior features: Level lot; Near turnpike/interstate; Near town; Neighborhood setting; Paved road access; Shed on the property

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Primary bedroom on the first floor with closet; Secondary bedroom on the first floor with closet
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: One-floor living; First-floor bedroom; Total of 7 rooms
• Laundry & utility: Washer hookup on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $41 ($497/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (15.9% below list).
• Recommended offer: $105k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.1% in Oakland — 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 75/100 on livability (#37 in ME, #3,871 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• RSU 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Williams Elementary School (math 92% / reading 93%, grade A+, #24 of 294 statewide, top 8%, 227 students, 38% FRL); Messalonskee Middle School (math 86% / reading 88%, grade A+, #28 of 85 statewide, top 37%, 452 students, 32% FRL); Messalonskee High School (math 92% / reading 92%, grade A+, #27 of 108 statewide, top 36%, 725 students, 25% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 72 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Recommended offer $105,000 (15.9% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (median comp): $158,197
• List price: $124,900
• Delta: -21.05%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.3%
• Equity multiple: 3.02×
• Total profit: $70,629
• Equity at exit: $112,520

10-year hold

• IRR: 22.3%
• Equity multiple: 6.89×
• Total profit: $205,859
• Equity at exit: $242,653

Cash invested: $34,972 (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 04963

• Home prices YoY: 25.1%
• Active inventory: 72
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$81 /mo · $973/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $41

Break-even live

Break-even rent $998

Max offer price $124,900

Occupancy floor 91%

Sensitivity live

Price	-10% $112	-5% $77	+0% $41	+5% $6	+10% $-29
Rent	-10% $-42	-5% $0	+0% $41	+5% $83	+10% $124
Rate	-1.0pp $104	-0.5pp $73	base $41	+0.5pp $9	+1.0pp $-24

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Main St Unit 4 Oakland, ME	1.0	1.0	700	$1,050	$1.50	45d	1	1.25mi

Listing history 17 events

1. 2026-06-17
   status $124,900 Pending 44 DOM
2. 2026-06-17
   days on market $124,900 Active Under Contract 44 DOM
3. 2026-06-16
   days on market $124,900 Active Under Contract 43 DOM
4. 2026-06-15
   days on market $124,900 Active Under Contract 42 DOM
5. 2026-06-14
   days on market $124,900 Active Under Contract 40 DOM
6. 2026-06-12
   days on market $124,900 Active Under Contract 39 DOM
7. 2026-06-09
   days on market $124,900 Active Under Contract 36 DOM
8. 2026-06-08
   days on market $124,900 Active Under Contract 35 DOM
9. 2026-06-07
   days on market $124,900 Active Under Contract 34 DOM
10. 2026-06-05
    days on market $124,900 Active Under Contract 31 DOM
11. 2026-06-03
    days on market $124,900 Active Under Contract 30 DOM
12. 2026-06-02
    days on market $124,900 Active Under Contract 29 DOM
13. 2026-06-01
    days on market $124,900 Active Under Contract 28 DOM
14. 2026-05-31
    days on market $124,900 Active Under Contract 27 DOM
15. 2026-05-30
    days on market $124,900 Active Under Contract 26 DOM
16. 2026-05-15
    historical Active Under Contract 590-char remark
17. 2026-05-04
    listed $124,900 Active 590-char remark

ⓘ 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: $973 · $81/mo
• Projected year-2 tax: $1,336 · $111/mo
• Expected delta: +$363/yr (+$30/mo · 37.3%)

ⓘ 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 2/10 Low 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,600
• − Mortgage interest: −$6,996
• − Property taxes: −$973
• − Insurance: −$624
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$3,633
• Taxable loss: −$1,643
• Est. tax savings @ 24.0%: +$394
• After-tax cash flow: $891/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: RSU 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 of 112 in ME

Livability — Oakland

• Score: 75/100
• State rank: #37
• US rank: #3871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,375

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Asian 1%
• Common ancestry: Lithuanian 14% Slovak 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 76.94%
• Current HPI: 383.7687
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+2.5% since first listed

4 events — show timeline

• 2026-06-18 Sold (MLS) $128,000 MREIS
• 2026-06-17 Pending — MREIS
• 2026-05-15 Contingent — MREIS
• 2026-05-04 Listed $124,900 MREIS

Property tax history

+3.0%/yr

Latest (2025): $973 · +6.8% YoY. Source: county tax records.