430 Post Rd #268

Kennebunk, ME 04090

$74,900B-

1 bd · 1.0 ba · 428 sqft · Built 2008 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,903/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$77
• HOA: −$842
• Vac / Maint / Mgmt: −$400
• Net cashflow: $192/mo
• Annual: $2,302/yr
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• 1% rule: 2.54%
• Cash to close: $20,972

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#20 in ME, #2,049 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: cost of living D+, amenities F, commute F.
• Wells-Ogunquit CSD (rural): math 87% / reading 90% proficiency, ranked #32 of 112 in ME (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 44% of rent.
• Market conditions: 267 active listings in the ZIP; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 3 sale attempts since 7y 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 (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 3.2% in Kennebunk — 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

• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.