1443 Main St

Sumner, ME 04292

$115,000C-

2 bd · 1.0 ba · 561 sqft · Built — · MultiFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $988/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $-103/mo
• Annual: $-1,234/yr
• Cap rate: 5.22%
• Cash-on-cash: -3.83%
• DSCR: 0.83
• 1% rule: 0.86%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $115k.
• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (14.1% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $97k (15.8% below list) — sets the bar for cash-flow.
• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 10 (rural): math 72% / reading 79% proficiency, ranked #107 of 112 in ME (top 96%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 10 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).
• Oxford County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $115k implies a 130% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$31k 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?
• 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 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.