89 Littlehale Rd

Andover, ME 04216

$146,000D

2 bd · 1.0 ba · 1,056 sqft · Built 2009 · SingleFamily · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,035/mo
• Mortgage (P&I): −$766
• Tax + insurance: −$243
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $-191/mo
• Annual: $-2,292/yr
• Cap rate: 4.72%
• Cash-on-cash: -5.61%
• DSCR: 0.75
• 1% rule: 0.71%
• Cash to close: $40,880

Investor read

• This is a 2-bed/1.0-bath single-family listed at $146k.
• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (29.1% below list).
• It's been on market 61 days — a 6% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (29.1% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Andover Public Schools (rural): math 30% / reading 60% proficiency, ranked #82 of 185 in ME (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andover Elementary School (math 75% / reading 75%, grade A, #224 of 294 statewide, top 77%, 30 students, 30% FRL) — zoned schools average 30% FRL vs 53% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 75% at this address vs 45% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Andover Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 12 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.
• 2 sale attempts since 25y 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.
• By year 7, paydown + projected appreciation supports a ~$34k 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 61 days. Have you received any prior offers? Is the seller open to a 29% 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.
• 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?
• 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.