18 Davids Way · Stonington, ME 04681

$149,000

3 bd · 2.0 ba · 1,500 sqft · MultiFamily · 33 Days on market

Built 1990 1.68 ac lot ↓ 21% since listing

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Why this score? — see what drove the C+ 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 +23.9/30.0
• Appreciation +8.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

3 bed/2bath home on nearly 2 acres in a fishing community in Stonington. This home has a large, private yard with drive thru right of way. The house features a new kitchen, new appliances, and new windows. Needs some finish out of trim, etc. One of the few affordable homes on the Island.

Key facts

• New kitchen
• Private yard
• New appliances

Tags

• PRIVATE YARD
• NEW KITCHEN
• NEW APPLIANCES
• NEW WINDOWS

Property features AI

Finance

• Financial info: Annual tax information available (taxes listed separately)

Exterior

• Parking: On-site common parking with 1–4 spaces
• Utilities: Well water; Electric service with circuit breakers; Pole utilities; Electric water heater
• Home design: Mobile home (double wide); Single-story (first-floor living and bedrooms); Built in 1990
• Construction: Aluminum siding on a mobile home; Block foundation; Composition roof
• Exterior features: Near public beach; Right of way access; Wooded lot; Private road frontage; Road surface: gravel and dirt

Interior

• Kitchen: Dishwasher; Microwave; Electric range; Refrigerator; Kitchen on the first floor (approx. 10' x 10')
• Bedrooms: Three bedrooms — all on the first floor (Bedroom 1: 10' x 10'; Bedroom 2: 10' x 12'; Bedroom 3: 12' x 12')
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating
• Interior features: First-floor primary bedroom with private bath; Total of 5 rooms
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Deer Isle-Stonington CSD (rural): math 15% / reading 40% proficiency, ranked #173 of 185 in ME (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (6.0% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.00% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.48×
• Total profit: $61,792
• Equity at exit: $94,050

10-year hold

• IRR: 21.2%
• Equity multiple: 5.00×
• Total profit: $167,067
• Equity at exit: $170,887

Cash invested: $41,720 (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 04681

• Home prices YoY: 3.6%
• Active inventory: 18
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$48 /mo · $570/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $290

Break-even live

Break-even rent $1,128

Max offer price $149,000

Occupancy floor 76%

Sensitivity live

Price	-10% $374	-5% $332	+0% $290	+5% $248	+10% $206
Rent	-10% $172	-5% $231	+0% $290	+5% $349	+10% $408
Rate	-1.0pp $365	-0.5pp $328	base $290	+0.5pp $251	+1.0pp $212

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $149,000 Active 33 DOM
2. 2026-06-21
   days on market $149,000 Active 32 DOM
3. 2026-06-18
   days on market $149,000 Active 30 DOM
4. 2026-06-17
   days on market $149,000 Active 29 DOM
5. 2026-06-16
   days on market $149,000 Active 28 DOM
6. 2026-06-15
   days on market $149,000 Active 27 DOM
7. 2026-06-13
   days on market $149,000 Active 25 DOM
8. 2026-06-12
   days on market $149,000 Active 24 DOM
9. 2026-06-09
   days on market $149,000 Active 21 DOM
10. 2026-06-08
    days on market $149,000 Active 20 DOM
11. 2026-06-07
    days on market $149,000 Active 19 DOM
12. 2026-06-07
    pricedays on market $149,000 Active 18 DOM
13. 2026-06-04
    days on market $165,000 Active 15 DOM
14. 2026-06-02
    days on market $165,000 Active 14 DOM
15. 2026-06-01
    days on market $165,000 Active 13 DOM
16. 2026-05-31
    days on market $165,000 Active 12 DOM
17. 2026-05-31
    days on market $165,000 Active 11 DOM
18. 2026-05-19
    listed $165,000 Active
19. 2025-06-20
    price $179,900
20. 2025-03-31
    price $189,900
21. 2025-03-25
    price $199,900
22. 2025-03-20
    price $210,000

ⓘ 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: $570 · $48/mo
• Projected year-2 tax: $1,298 · $108/mo
• Expected delta: +$728/yr (+$61/mo · 127.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥86°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $17,940
• − Mortgage interest: −$8,346
• − Property taxes: −$570
• − Insurance: −$745
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$4,335
• Taxable income: $1,073
• Est. tax owed @ 24.0%: −$258
• After-tax cash flow: $3,223/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: Deer Isle-Stonington CSD
• NCES district ID: 2304895
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 40% ▲ 15.00%
• Median HH income: $43,358
• Composite: 26.39/100
• National rank: #12658
• State rank: #173 of 185 in ME

Livability — Stonington

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 906

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2%
• Common ancestry: Slovak 7% Romanian 2% Scottish 2%
• Foreign-born: 6% · Canada

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: ▲ 6.04%
• Current HPI: 175.5837
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.4% since first listed

5 events — show timeline

• 2026-05-19 Listed $165,000 MREIS
• 2025-06-20 Price Changed $179,900 MREIS
• 2025-03-31 Price Changed $189,900 MREIS
• 2025-03-25 Price Changed $199,900 MREIS
• 2025-03-20 Price Changed $210,000 MREIS

Property tax history

+3.7%/yr

Latest (2025): $570 · +4.0% YoY. Source: county tax records.