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Livermore Falls, ME 04254

$37,000B

2 bd · 1.0 ba · 728 sqft · Built 1983 · Manufactured · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $955/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$52
• HOA: −$420
• Vac / Maint / Mgmt: −$200
• Net cashflow: $88/mo
• Annual: $1,058/yr
• Cap rate: 9.15%
• Cash-on-cash: 10.21%
• DSCR: 1.45
• 1% rule: 2.58%
• Cash to close: $10,360

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $37k.
• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $37k).
• It's been on market 46 days — a 3% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($256 loan paydown + $1k appreciation (3.9% local appreciation)).
• Location reads 67/100 on livability (#95 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• RSU 73 (rural): math 75% / reading 81% proficiency, ranked #91 of 112 in ME (top 81%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: HOA is 44% of rent.
• Market conditions: 35 active listings in the ZIP; 358 units permitted in Androscoggin County in 2024 (57 in 5+ unit buildings).
• Androscoggin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 9.2% vs local median 3.7% in Livermore Falls — 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 46 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 F-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.