17 Walker Rd

Mechanic Falls, ME 04256

$299,900D-

4 bd · 4.0 ba · 768 sqft · Built 1820 · Other · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,439/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$372
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $-808/mo
• Annual: $-9,696/yr
• Cap rate: 3.06%
• Cash-on-cash: -11.55%
• DSCR: 0.49
• 1% rule: 0.48%
• Cash to close: $83,972

Investor read

• This is a 4-bed/4.0-bath other listed at $300k.
• At list price, monthly cash flow is $-808 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (47.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (52.0% below list).
• It's been on market 137 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $144k (52.0% below list) — sets the bar for 1% rule.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#78 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• RSU 16 (rural): math 79% / reading 83% proficiency, ranked #73 of 112 in ME (top 65%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Elm Street School-Mechanic Falls (math 72% / reading 77%, grade A, #228 of 294 statewide, top 84%, 245 students, 41% FRL); Bruce M Whittier Middle School (math 81% / reading 84%, grade A+, #51 of 85 statewide, top 61%, 281 students, 36% FRL); Poland Regional H S (math 87% / reading 87%, grade A, #66 of 108 statewide, top 68%, 535 students, 30% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: built in 1820 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 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.
• 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.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 3.1% vs local median 2.4% in Mechanic Falls — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 137 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
• Built in 1820 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.