172 Hardy Point Rd

Pembroke, ME 04666

$50,000B+

2 bd · 1.5 ba · 1,466 sqft · Built 1987 · MultiFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,311/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $652/mo
• Annual: $7,819/yr
• Cap rate: 21.93%
• Cash-on-cash: 55.85%
• DSCR: 3.49
• 1% rule: 2.62%
• Cash to close: $14,000

Investor read

• This is a 2-bed/1.5-bath multifamily listed at $50k.
• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.3%/yr); year-one equity from $346 of loan paydown is wiped out by about $651 of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pembroke Public Schools (rural): math 95% / reading 95% proficiency, ranked #18 of 112 in ME (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 18 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.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.