443 Cross Rd

Swanville, ME 04915

$279,000B

1 bd · 1.5 ba · 2,040 sqft · Built 1988 · MultiFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,845/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$269
• HOA: −$0
• Vac / Maint / Mgmt: −$807
• Net cashflow: $1,306/mo
• Annual: $15,666/yr
• Cap rate: 11.91%
• Cash-on-cash: 20.05%
• DSCR: 1.89
• 1% rule: 1.38%
• Cash to close: $78,120

Investor read

• This is a 1-bed/1.5-bath multifamily listed at $279k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $279k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• RSU 71 (town): math 79% / reading 82% proficiency, ranked #85 of 112 in ME (top 76%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 119 active listings in the ZIP; 143 units permitted in Waldo County in 2024 (0 in 5+ unit buildings).
• Waldo County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.