183 Blastow Cove Rd · Deer Isle, ME 04627

$145,000

2 bd · 1.5 ba · 0 sqft · SingleFamily public records · 3 Days on market

Built 1988 1.32 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• DSCR +3.9/10.0
• 1% rule +2.6/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This pleasant 1.32-acre lot is located on the quiet Blastow Cove Road and features a drilled well, paved drive, and a storage building/workshop. The older mobile home, built in 1988, features 2 bedrooms, 1.5 baths, and an added-on sunroom featuring lots of natural light. A great spot to build your home in a convenient location just miles from the Deer Isle-Sedgwick Bridge.

Key facts

• 1.32 acres
• Coastal maine
• Existing well

Tags

• 1.32 ACRES
• EXISTING WELL
• SEPTIC SYSTEM
• OCEAN ACCESS
• COASTAL MAINE

Property features AI

Exterior

• Parking: Paved parking with 1–4 spaces
• Utilities: Private water; Private sewer; Electric service with circuit breakers; Electric water heater
• Home design: Mobile home (single wide); Entry on first level; Residential zoning
• Construction: Built in 1988; Vinyl siding; Shingle roof; Gravel/pad foundation
• Exterior features: Rural, wooded setting; Paved road access

Interior

• Kitchen: Refrigerator
• Bedrooms: Bedroom 1 (first level); Bedroom 2 (first level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating
• Interior features: 4 total rooms; Carpet and vinyl flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-5 ($-54/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (23.6% below list).
• Recommended offer: $111k (23.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Deer Isle-Stonington CSD (rural): math 15% / reading 40% proficiency, ranked #173 of 185 in ME (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Deer Isle-Stonington Elementary Sch (math 62% / reading 77%, grade A-, #265 of 294 statewide, top 93%, 203 students, 35% FRL); Deer Isle-Stonington High Sch (math 84% / reading 84%, grade A, #75 of 108 statewide, top 83%, 115 students, 56% FRL).
• Zoned-school proficiency averages 77% at this address vs 28% district-wide (+50 pts) — the actual schools serving this property are materially stronger than the Deer Isle-Stonington CSD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 20 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.7% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $110k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $110,765 (23.6% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 10.9

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Haskell District Rd	0.69mi	2/1.5	700	9mo	$450,000	$643	48
—	0.38mi	3/1.5 (+1)	1,565	22mo	$395,000	$252	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.19×
• Total profit: $7,578
• Equity at exit: $55,046

10-year hold

• IRR: 7.4%
• Equity multiple: 1.98×
• Total profit: $39,837
• Equity at exit: $77,652

Cash invested: $40,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04627

• Home prices YoY: 0.9%
• Active inventory: 20
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$59 /mo · $705/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-5

Break-even live

Break-even rent $1,113

Max offer price $144,202

Occupancy floor 95%

Sensitivity live

Price	-10% $78	-5% $37	+0% $-5	+5% $-46	+10% $-87
Rent	-10% $-92	-5% $-48	+0% $-5	+5% $39	+10% $83
Rate	-1.0pp $69	-0.5pp $32	base $-5	+0.5pp $-42	+1.0pp $-80

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $145,000 Active 3 DOM
2. 2026-06-21
   days on market $145,000 Active 2 DOM
3. 2026-06-18
   remarks 699-char remark
4. 2026-06-18
   listed $145,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $705 · $59/mo
• Projected year-2 tax: $1,338 · $112/mo
• Expected delta: +$634/yr (+$53/mo · 89.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,292
• − Mortgage interest: −$8,122
• − Property taxes: −$705
• − Insurance: −$725
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$4,218
• Taxable loss: −$2,605
• Est. tax savings @ 24.0%: +$625
• After-tax cash flow: $571/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Deer Isle-Stonington CSD
• NCES district ID: 2304895
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 40% ▲ 15.00%
• Median HH income: $43,358
• Composite: 26.39/100
• National rank: #12658
• State rank: #173 of 185 in ME

Livability — Deer Isle

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,883

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 53,608 people
• By 2030: 52,594 · -1.9%
• By 2040: 49,556 · -7.6%
• By 2050: 46,152 · -13.9%
• By 2075: 39,678 · -26.0%
• By 2100: 33,690 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Native American 2% Two or more races 2%
• Common ancestry: Slovak 8% Lithuanian 4% German 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Hancock

• 2024 margin: D (+11.8) · D 54.7% · R 42.9% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: 19.3pp · 2024: 11.8pp
• All cycles: 2024: D+11.8 2020: D+12.4 2016: D+7.6 2012: D+16.7 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.72%
• Current HPI: 185.2752
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+20.8% since first listed

8 events — show timeline

• 2026-06-18 Listed $145,000 MREIS
• 2025-10-07 Pending — MREIS
• 2025-10-07 Sold (MLS) $110,000 MREIS
• 2025-09-11 Contingent — MREIS
• 2025-09-09 Price Changed $110,000 MREIS
• 2025-09-08 Relisted — MREIS
• 2025-08-13 Contingent — MREIS
• 2025-07-24 Listed $120,000 MREIS

Property tax history

-0.8%/yr

Latest (2018): $705 · +3.4% YoY. Source: county tax records.