56 Streamview Dr

Harmony, ME 04942

$74,999B

1 bd · 1.0 ba · 0 sqft · Built — · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $868/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $218/mo
• Annual: $2,617/yr
• Cap rate: 9.78%
• Cash-on-cash: 12.46%
• DSCR: 1.55
• 1% rule: 1.16%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($868 rent vs $75k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($518 loan paydown + $6k appreciation (8.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Harmony Public Schools (rural): math 20% / reading 50% proficiency, ranked #152 of 185 in ME (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harmony Elementary (math 74% / reading 95%, grade A+, #105 of 294 statewide, top 35%, 58 students, 78% FRL) — zoned schools average 78% FRL vs 56% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 85% at this address vs 35% district-wide (+50 pts) — the actual schools serving this property are materially stronger than the Harmony Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 18 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 18y 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.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.