960 Mason Bay Rd

Jonesport, ME 04649

$129,900D+

3 bd · 1.0 ba · 832 sqft · Built 1976 · Manufactured · Pending · 326 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,274/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $166/mo
• Annual: $1,996/yr
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• 1% rule: 0.98%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $166 ($2k/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 $127k (2.0% below list).
• It's been on market 326 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.6%/yr); year-one equity from $898 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Moosabec CSD (rural): math 0% / reading 40% proficiency, ranked #185 of 185 in ME (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jonesport Elementary School (math 84% / reading 74%, grade A, #182 of 294 statewide, top 69%, 98 students, 44% FRL); Jonesport-Beals High School (68 students, 50% FRL).
• Zoned-school proficiency averages 80% at this address vs 20% district-wide (+60 pts) — the actual schools serving this property are materially stronger than the Moosabec CSD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 44 active listings in the ZIP; 67 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -27% 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.
• Climate carrying-cost: severe wind risk, 80% 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 326 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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.
• 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?
• 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.