39 Access Hwy

Limestone, ME 04750

$165,000C-

3 bd · 1.5 ba · 1,399 sqft · Built 1948 · Other · Pending · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,460/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $123/mo
• Annual: $1,481/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.21%
• DSCR: 1.14
• 1% rule: 0.89%
• Cash to close: $46,200

Investor read

• This is a 3-bed/1.5-bath other listed at $165k.
• At list price, monthly cash flow is $123 ($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 (11.5% below list).
• It's been on market 23 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (11.5% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.7% local appreciation)).
• Location reads 75/100 on livability (#36 in ME, #3,831 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 27 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 21y 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 (1.7% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.