4 Various Addresses

Mexico, ME 04257

$990,000B

33 bd · 17.6 ba · 999 sqft · Built 1900 · MultiFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $13,711/mo
• Mortgage (P&I): −$5,192
• Tax + insurance: −$1,650
• HOA: −$0
• Vac / Maint / Mgmt: −$2,879
• Net cashflow: $3,990/mo
• Annual: $47,880/yr
• Cap rate: 11.13%
• Cash-on-cash: 17.27%
• DSCR: 1.77
• 1% rule: 1.38%
• Cash to close: $277,200

Investor read

• This is a 11 × 3-bed/?-bath units multifamily listed at $990k. Condition is rated fair.
• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $363/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $990k).
• It's been on market 55 days — a 3% lower offer ($960k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $960k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.4%/yr); year-one equity from $7k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#35 in ME, #3,803 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute D+, schools D-, 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 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.
• 2 sale attempts 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 (-2.4% appreciation + 3.0% rent growth), your $277k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.1% vs local median 7.1% in Mexico — 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

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops — The countertops appear to be outdated and may need replacement or resurfacing.
• Minor: Bathroom fixtures — The fixtures in the bathrooms may need updating or replacement.
• Moderate: Exterior siding — The exterior siding may need repainting or minor repairs to improve its appearance.
• Minor: Landscaping — The landscaping appears to be overgrown and may need trimming and maintenance.