20 Joshs Way

Oxford, ME 04274

$95,000C+

2 bd · 1.0 ba · 728 sqft · Built 2009 · Manufactured · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,455/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$89
• HOA: −$400
• Vac / Maint / Mgmt: −$306
• Net cashflow: $163/mo
• Annual: $1,952/yr
• Cap rate: 8.35%
• Cash-on-cash: 7.34%
• DSCR: 1.33
• 1% rule: 1.53%
• Cash to close: $26,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $95k.
• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#128 in ME) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• RSU 16 (rural): math 79% / reading 83% proficiency, ranked #73 of 112 in ME (top 65%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Poland Community School (math 76% / reading 85%, grade A+, #176 of 294 statewide, top 60%, 436 students, 38% FRL); Bruce M Whittier Middle School (math 81% / reading 84%, grade A+, #51 of 85 statewide, top 61%, 281 students, 36% FRL); Poland Regional H S (math 87% / reading 87%, grade A, #66 of 108 statewide, top 68%, 535 students, 30% FRL) — zoned schools at 35% FRL track the district average.
• Watch-outs: HOA is 27% of rent.
• Market conditions: 38 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.
• 5 sale attempts since 6y 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 $75k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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.