5 Colonial Dr

Lisbon Falls, ME 04252

$160,000D+

2 bd · 2.0 ba · 924 sqft · Built 2024 · Manufactured · Pending · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,449/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$200
• HOA: −$350
• Vac / Maint / Mgmt: −$304
• Net cashflow: $-244/mo
• Annual: $-2,931/yr
• Cap rate: 4.46%
• Cash-on-cash: -6.54%
• DSCR: 0.71
• 1% rule: 0.91%
• Cash to close: $44,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $160k.
• At list price, monthly cash flow is $-244 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (9.4% below list).
• It's been on market 42 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (27.0% below list) — sets the bar for cash-flow.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#44 in ME, #4,672 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F.
• RSU 05 (suburban): math 92% / reading 94% proficiency, ranked #12 of 112 in ME (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 24% of rent.
• Market conditions: 1 active listings in the ZIP; 358 units permitted in Androscoggin County in 2024 (57 in 5+ unit buildings).
• Androscoggin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.