754 Bar Harbor Rd

Trenton, ME 04605

$699,000C-

12 bd · 11.2 ba · 2,836 sqft · Built 1900 · MultiFamily · Active · 219 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,849/mo
• Mortgage (P&I): −$3,666
• Tax + insurance: −$772
• HOA: −$0
• Vac / Maint / Mgmt: −$1,438
• Net cashflow: $974/mo
• Annual: $11,683/yr
• Cap rate: 7.96%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• 1% rule: 0.98%
• Cash to close: $195,720

Investor read

• This is a 4 × 3-bed/2.8-bath units multifamily listed at $699k.
• At list price, monthly cash flow is $974 ($12k/yr) — positive. Per door: $243/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $685k (2.0% below list).
• It's been on market 219 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Trenton Public Schools (rural): math 35% / reading 60% proficiency, ranked #66 of 185 in ME (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 152 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% 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?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.