315 Pine St

Rumford, ME 04276

$154,900A+

6 bd · 2.0 ba · 2,176 sqft · Built 1903 · MultiFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,990/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$259
• HOA: −$0
• Vac / Maint / Mgmt: −$628
• Net cashflow: $1,291/mo
• Annual: $15,493/yr
• Cap rate: 16.29%
• Cash-on-cash: 35.72%
• DSCR: 2.59
• 1% rule: 1.93%
• Cash to close: $43,372

Investor read

• This is a 6-bed/2.0-bath multifamily listed at $155k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $155k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 75/100 on livability (#39 in ME, #4,030 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D, schools F, amenities F.
• 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.
• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 82 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 16.3% vs local median 5.5% in Rumford — 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

• Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.