37 Edaco Ct · Ellsworth, ME 04605

$67,000

1 bd · 1.0 ba · 728 sqft · Manufactured public records · 39 Days on market

Built 2004 $92/sqft · 20% above area Est $65k · at est. $550/mo HOA · 37% of rent

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Why this score? — see what drove the B- 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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• Schools +6.9/10.0
• ARV discount +6.1/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 37 Edaco Ct! This freshly updated 2BR 1BA home in Edaco Village awaits you. New updates include fresh interior paint throughout, new lifeproof flooring, a rebuilt furnace, new hardware in the kitchen & bathroom, all new plumbing, & so much more! Don't miss your chance to own an affordable home in a quiet neighborhood. Schedule your showing today!

Key facts

• All new plumbing
• Fresh interior paint
• Rebuilt furnace

Tags

• FRESH INTERIOR PAINT
• NEW LIFEPROOF FLOORING
• REBUILT FURNACE
• NEW HARDWARE
• ALL NEW PLUMBING
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $67k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.4% in Ellsworth — 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 77/100 on livability (#32 in ME, #3,210 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, commute F.
• Ellsworth Public Schools (town): math 79% / reading 85% proficiency, ranked #75 of 112 in ME (top 67%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 152 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,990 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 2.21% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.57%
• DSCR: 1.56
• GRM: 3.8

CMA / ARV

• ARV (median comp): $65,000
• List price: $67,000
• Delta: 3.08%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $1,996
• Equity at exit: $9,990

10-year hold

• IRR: 12.7%
• Equity multiple: 2.02×
• Total profit: $19,218
• Equity at exit: $5,793

Cash invested: $18,760 (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 04605

• Home prices YoY: -27.0%
• Active inventory: 152
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$28
• HOA: −$550
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $197

Break-even live

Break-even rent $1,231

Max offer price $67,000

Occupancy floor 82%

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $550 · $6,600/yr

Listing history 1 events

1. 2026-04-10
   listed $67,000 Active 370-char remark

   Show marketing remark (370 chars)

   Welcome to 37 Edaco Ct! This freshly updated 2BR 1BA home in Edaco Village awaits you. New updates include fresh interior paint throughout, new lifeproof flooring, a rebuilt furnace, new hardware in the kitchen & bathroom, all new plumbing, & so much more! Don't miss your chance to own an affordable home in a quiet neighborhood. Schedule your showing today!

ⓘ 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: $519 · $43/mo
• Projected year-2 tax: $715 · $60/mo
• Expected delta: +$196/yr (+$16/mo · 37.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $17,758
• − Mortgage interest: −$3,753
• − Property taxes: −$519
• − Insurance: −$335
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − HOA: −$6,600
• − Depreciation: −$1,949
• Taxable income: $1,760
• Est. tax owed @ 24.0%: −$422
• After-tax cash flow: $1,936/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: Ellsworth Public Schools
• NCES district ID: 2305500
• Math proficiency: 79% ▲ 42.00%
• Reading proficiency: 85% ▲ 29.00%
• Median HH income: $47,000
• Composite: 69.01/100
• National rank: #325
• State rank: #75 of 112 in ME

Livability — Ellsworth

• Score: 77/100
• State rank: #32
• US rank: #3210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellsworth, ME
• Population (ZIP): 14,695

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 53,608 people
• By 2030: 52,594 · -1.9%
• By 2040: 49,556 · -7.6%
• By 2050: 46,152 · -13.9%
• By 2075: 39,678 · -26.0%
• By 2100: 33,690 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: Lithuanian 9% Slovak 5% Romanian 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: D (+11.8) · D 54.7% · R 42.9% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: 19.3pp · 2024: 11.8pp
• All cycles: 2024: D+11.8 2020: D+12.4 2016: D+7.6 2012: D+16.7 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.32%
• Current HPI: 187.7717
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-10 Listed $67,000 MREIS

Property tax history

+1.0%/yr

Latest (2024): $519 · +15.3% YoY. Source: county tax records.