525 Main St

Wilton, ME 04294

$350,500C+

12 bd · 6.0 ba · 3,430 sqft · Built 1909 · MultiFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,962/mo
• Mortgage (P&I): −$1,838
• Tax + insurance: −$584
• HOA: −$0
• Vac / Maint / Mgmt: −$832
• Net cashflow: $708/mo
• Annual: $8,493/yr
• Cap rate: 8.72%
• Cash-on-cash: 8.65%
• DSCR: 1.39
• 1% rule: 1.13%
• Cash to close: $98,140

Investor read

• This is a 3 × 4-bed/2.0-bath units multifamily listed at $350k.
• At list price, monthly cash flow is $708 ($8k/yr) — positive. Per door: $236/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• It's been on market 22 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#112 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 14y 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.

Questions for listing agent

• 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 1909 — 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?