190 W Franklin Rd

Franklin, ME 04634

$165,000C-

3 bd · 1.0 ba · 1,200 sqft · Built 1985 · Other · Active · 278 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,458/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $109/mo
• Annual: $1,303/yr
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• 1% rule: 0.88%
• Cash to close: $46,200

Investor read

• This is a 3-bed/1.0-bath other listed at $165k.
• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (11.7% below list).
• It's been on market 278 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 24 (rural): math 83% / reading 86% proficiency, ranked #59 of 112 in ME (top 53%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 44 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, 27% 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 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.