1038 Portland Rd #19 · Saco, ME 04072

$95,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 87 Days on market

Built 1992 $113/sqft · 44% below area Est $170k · 44% under $750/mo HOA · 36% of rent ↓ 4% since listing

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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 +28.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +7.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This open concept, tastefully updated 1992 mobile home offers the perfect blend of comfort and style. Large livingroom, kitchen with hardwood floors, 2 bedrooms and 2 full baths. New skylights, new exterior doors, new windows, new furnace, heat pump, 2 decks and metal roof. Conveniently located close to beaches, shopping, golf and visitor activities. Easy access to I-95.

Key facts

• New furnace
• Open concept
• New exterior doors

Tags

• OPEN CONCEPT
• HARDWOOD FLOORS
• NEW SKYLIGHTS
• NEW EXTERIOR DOORS
• NEW WINDOWS
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.7% in Saco — 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 84/100 on livability (#5 in ME, #732 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Saco Public Schools (suburban): math 88% / reading 88% proficiency, ranked #37 of 112 in ME (top 33%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 112 active listings in the ZIP; solid renter incomes; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 2.19% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 3.8

CMA / ARV

• ARV (median comp): $169,771
• List price: $95,000
• Delta: -44.04%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $4,137
• Equity at exit: $14,165

10-year hold

• IRR: 13.8%
• Equity multiple: 2.13×
• Total profit: $30,017
• Equity at exit: $8,214

Cash invested: $26,600 (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 04072

• Home prices YoY: -27.9%
• Active inventory: 112
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,084 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$59 /mo · $710/yr
• Insurance: −$40
• HOA: −$750
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $300

Break-even live

Break-even rent $1,705

Max offer price $95,000

Occupancy floor 81%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $750 · $9,000/yr

Listing history 19 events

1. 2026-06-18
   days on market $95,000 Active 87 DOM
2. 2026-06-17
   days on market $95,000 Active 86 DOM
3. 2026-06-16
   days on market $95,000 Active 85 DOM
4. 2026-06-15
   days on market $95,000 Active 84 DOM
5. 2026-06-14
   days on market $95,000 Active 82 DOM
6. 2026-06-10
   days on market $95,000 Active 79 DOM
7. 2026-06-09
   days on market $95,000 Active 78 DOM
8. 2026-06-08
   days on market $95,000 Active 77 DOM
9. 2026-06-07
   days on market $95,000 Active 76 DOM
10. 2026-06-05
    days on market $95,000 Active 73 DOM
11. 2026-06-03
    days on market $95,000 Active 72 DOM
12. 2026-06-02
    days on market $95,000 Active 71 DOM
13. 2026-06-01
    days on market $95,000 Active 70 DOM
14. 2026-05-31
    days on market $95,000 Active 69 DOM
15. 2026-05-30
    days on market $95,000 Active 68 DOM
16. 2026-05-15
    price $95,000 373-char remark

    Show marketing remark (373 chars)

    This open concept, tastefully updated 1992 mobile home offers the perfect blend of comfort and style. Large livingroom, kitchen with hardwood floors, 2 bedrooms and 2 full baths. New skylights, new exterior doors, new windows, new furnace, heat pump, 2 decks and metal roof. Conveniently located close to beaches, shopping, golf and visitor activities. Easy access to I-95.

17. 2026-05-13
    price $99,000 373-char remark

    Show marketing remark (373 chars)

    This open concept, tastefully updated 1992 mobile home offers the perfect blend of comfort and style. Large livingroom, kitchen with hardwood floors, 2 bedrooms and 2 full baths. New skylights, new exterior doors, new windows, new furnace, heat pump, 2 decks and metal roof. Conveniently located close to beaches, shopping, golf and visitor activities. Easy access to I-95.

18. 2026-05-13
    price $95,000 373-char remark

    Show marketing remark (373 chars)

    This open concept, tastefully updated 1992 mobile home offers the perfect blend of comfort and style. Large livingroom, kitchen with hardwood floors, 2 bedrooms and 2 full baths. New skylights, new exterior doors, new windows, new furnace, heat pump, 2 decks and metal roof. Conveniently located close to beaches, shopping, golf and visitor activities. Easy access to I-95.

19. 2026-03-23
    listed $99,000 Active 373-char remark

    Show marketing remark (373 chars)

    This open concept, tastefully updated 1992 mobile home offers the perfect blend of comfort and style. Large livingroom, kitchen with hardwood floors, 2 bedrooms and 2 full baths. New skylights, new exterior doors, new windows, new furnace, heat pump, 2 decks and metal roof. Conveniently located close to beaches, shopping, golf and visitor activities. Easy access to I-95.

ⓘ 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: $710 · $59/mo
• Projected year-2 tax: $1,001 · $83/mo
• Expected delta: +$291/yr (+$24/mo · 41.0%)

ⓘ 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 ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,009
• − Mortgage interest: −$5,321
• − Property taxes: −$710
• − Insurance: −$475
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − HOA: −$9,000
• − Depreciation: −$2,764
• Taxable income: $2,738
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $2,937/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: Saco Public Schools
• NCES district ID: 2310380
• Math proficiency: 88% ▲ 47.00%
• Reading proficiency: 88% ▲ 29.00%
• Median HH income: $55,870
• Composite: 74.86/100
• National rank: #145
• State rank: #37 of 112 in ME

Livability — Saco

• Score: 84/100
• State rank: #5
• US rank: #732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saco, ME
• County: York County · 80,026 people
• City population: 20,819
• Metro: Portland-South Portland, ME
• Population (ZIP): 20,819
• Household income: $92,241
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 421.0

Population outlook (York County) Hauer SSP2

• Today (2025): 209,961 people
• By 2030: 212,816 · +1.4%
• By 2040: 214,360 · +2.1%
• By 2050: 210,350 · +0.2%
• By 2075: 201,686 · -3.9%
• By 2100: 183,392 · -12.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 12% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 89% English-only · Other Indo-European 3% French/Haitian/Cajun 2% Spanish 2%

Political lean MEDSL · York

• 2024 margin: D (+10.5) · D 54.3% · R 43.8% · Other 1.9%
• 2008→2024 swing: -10.1pp toward R · 2008: 20.5pp · 2024: 10.5pp
• All cycles: 2024: D+10.5 2020: D+12.6 2016: D+4.8 2012: D+16.4 2008: D+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -147.38%
• Current HPI: 381.7349
• Rent YoY: —
• Metro: Portland-South Portland, ME
• State GDP YoY: —
• F500 in state: 0

Price history

-4.0% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $95,000 MREIS
• 2026-05-13 Price Changed $99,000 MREIS
• 2026-05-13 Price Changed $95,000 MREIS
• 2026-03-23 Listed $99,000 MREIS

Property tax history

+2.5%/yr

Latest (2024): $710 · -4.7% YoY. Source: county tax records.