68 Middle Rd

Sabattus, ME 04280

$144,900C

2 bd · 1.5 ba · 784 sqft · Built 1986 · Manufactured · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,157/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $-1/mo
• Annual: $-7/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• 1% rule: 0.80%
• Cash to close: $40,572

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $145k.
• At list price, monthly cash flow is $-1 ($-7/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (20.2% below list).
• It's been on market 64 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (20.2% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 04 (rural): math 68% / reading 71% proficiency, ranked #110 of 112 in ME (top 98%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 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.
• 2 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 20% 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.
• 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.