239 Osborne Road Rd

Farmington, ME 04938

$150,000C

2 bd · 1.0 ba · 576 sqft · Built 1993 · SingleFamily · Active · 209 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,448/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $195/mo
• Annual: $2,336/yr
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• 1% rule: 0.97%
• Cash to close: $42,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $195 ($2k/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 $145k (3.5% below list).
• It's been on market 209 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 80/100 on livability (#18 in ME, #1,653 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D-.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mt Blue Middle School (math 78% / reading 79%, grade A+, #69 of 85 statewide, top 82%, 488 students, 50% FRL); Mt Blue High School (math 87% / reading 95%, grade A+, #42 of 108 statewide, top 38%, 733 students, 45% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 92 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $150k implies a 150% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.9% vs local median 4.8% in Farmington — 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 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.