27 Vine St

Livermore Falls, ME 04254

$284,900D+

6 bd · 3.0 ba · 1,092 sqft · Built 1901 · MultiFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,617/mo
• Mortgage (P&I): −$1,494
• Tax + insurance: −$363
• HOA: −$0
• Vac / Maint / Mgmt: −$550
• Net cashflow: $210/mo
• Annual: $2,519/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• 1% rule: 0.92%
• Cash to close: $79,772

Investor read

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $285k.
• At list price, monthly cash flow is $210 ($3k/yr) — positive. Per door: $70/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (8.1% below list).
• It's been on market 64 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $262k (8.1% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($2k loan paydown + $11k 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: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• 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.
• 7 sale attempts since 9y ago 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 $142k; list at $285k implies a 101% gain — meaningful room to come down on a strong offer.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.2% vs local median 3.6% 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 64 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?