6 Old Port Rd

Kennebunk, ME 04043

$1,675,000B-

5 bd · 5.0 ba · 4,689 sqft · Built 1747 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $23,132/mo
• Mortgage (P&I): −$8,784
• Tax + insurance: −$1,770
• HOA: −$0
• Vac / Maint / Mgmt: −$4,858
• Net cashflow: $7,720/mo
• Annual: $92,646/yr
• Cap rate: 11.82%
• Cash-on-cash: 19.75%
• DSCR: 1.88
• 1% rule: 1.38%
• Cash to close: $469,000

Investor read

• This is a 5-bed/5.0-bath single-family listed at $1.68M.
• At list price, monthly cash flow is $8k ($93k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.68M).
• It's been on market 37 days — a 3% lower offer ($1.62M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.62M (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $50k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#20 in ME, #2,049 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• RSU 21 (rural): math 91% / reading 94% proficiency, ranked #13 of 112 in ME (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Kennebunk Elementary School (358 students, 9% FRL); Middle School of The Kennebunks (math 92% / reading 96%, grade A+, #5 of 85 statewide, top 5%, 479 students, 11% FRL); Kennebunk High School (math 98% / reading 92%, grade A+, #18 of 108 statewide, top 22%, 756 students, 11% FRL).
• Watch-outs: built in 1747 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 4 sale attempts since 2y 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 (-3.0% appreciation + 3.0% rent growth), your $469k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.8% vs local median 3.2% in Kennebunk — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1747 — 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 A-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.