1 Robinson Way #85

Kennebunk, ME 04043

$29,000D+

2 bd · 1.0 ba · 650 sqft · Built 1988 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,793/mo
• Mortgage (P&I): −$152
• Tax + insurance: −$48
• HOA: −$488
• Vac / Maint / Mgmt: −$587
• Net cashflow: $1,518/mo
• Annual: $18,219/yr
• Cap rate: 69.12%
• Cash-on-cash: 224.37%
• DSCR: 10.98
• 1% rule: 9.63%
• Cash to close: $8,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $29k.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $29k).
• It's been on market 38 days — a 3% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $870 of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#20 in ME, #2,049 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: cost of living D+, amenities F, commute F.
• RSU 21 (rural): math 91% / reading 94% proficiency, ranked #13 of 112 in ME (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 132 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 + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 69.1% vs local median 3.2% in Kennebunk — 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.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.