295 Old County Rd

Rockland, ME 04841

$350,000D-

6 bd · 4.0 ba · 1,040 sqft · Built 2026 · Other · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,492/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$523
• Net cashflow: $-100/mo
• Annual: $-1,200/yr
• Cap rate: 5.95%
• Cash-on-cash: -1.22%
• DSCR: 0.95
• 1% rule: 0.71%
• Cash to close: $98,000

Investor read

• This is a 6-bed/4.0-bath other listed at $350k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $332k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (28.8% below list).
• It's been on market 28 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $249k (28.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#116 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• RSU 13 (town): math 77% / reading 85% proficiency, ranked #84 of 112 in ME (top 75%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: South School (math 72% / reading 82%, grade A, #209 of 294 statewide, top 75%, 265 students, 62% FRL); Oceanside Middle School (math 74% / reading 86%, grade A+, #59 of 85 statewide, top 71%, 349 students, 52% FRL); Oceanside High School (math 82% / reading 87%, grade A, #75 of 108 statewide, top 83%, 525 students, 50% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 72 active listings in the ZIP; 160 units permitted in Knox County in 2024 (58 in 5+ unit buildings).
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y 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 $30k; list at $350k implies a 1067% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 3.4% in Rockland — 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.
• At $2,492/mo this rent would consume 53% of the median local household income ($57k/yr) (locally 279% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.