16 Cowboy Ln · Whitefield, ME 04353

$325,000

2 bd · 2.0 ba · 1,194 sqft · MultiFamily · 13 Days on market

Built 2001 3.28 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• Cash flow +6.8/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Private yet convenient to Rt. 17. Nicely maintained 2 BR double wide on 3 acres w/ 32'x32' 3 bay insulated, heated garage w/ overhangs on both sides. Stocked trout pond. Garden spot. Home has den w/ pellet stove ( or could convert back to FP), 2 baths, kitchen w/ pantry, DR w/ pellet stove. Garage would make a nice barn. Only 5 minutes from Windsor Fair race track.

Key facts

• Large dining room
• Pond
• Pellet stove insert

Tags

• DEN WITH FIREPLACE
• PELLET STOVE INSERT
• KITCHEN WITH PANTRY
• LARGE DINING ROOM
• LARGE 3 BAY HEATED GARAGE
• POND

Property features AI

Finance

• Financial info: No zoning listed

Exterior

• Parking: Detached garage with 3 spaces; Additional vehicle storage for 4+ cars; Heated vehicle storage; Carport; Gravel parking with space for 5–10 vehicles; Auto door opener
• Utilities: Well water; Private sewer (septic; septic design available); Electric service with circuit breakers; Electric water heater
• Home design: Mobile home (double wide); Built in 2001; Vinyl siding; Shingle roof
• Construction: Double wide mobile home construction; Vinyl siding construction
• Exterior features: Deck; Outbuilding and shed(s); Rural, level, wooded lot; Private road frontage; Gravel and dirt road surface

Interior

• Kitchen: Eat-in kitchen; Gas range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on the first floor; Additional bedroom on the first floor; Office on the first floor
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air; Pellet stove; Has heating
• Interior features: One-floor living; 1st floor bedroom; Primary bedroom with bath; Bathtub and shower; Pantry; Storage; Walk-in closet(s); Wood-burning fireplace; Total of 6 rooms
• Laundry & utility: Washer and dryer; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $-509 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (27.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (41.3% below list).
• Recommended offer: $191k (41.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• RSU 12 (rural): math 86% / reading 86% proficiency, ranked #50 of 112 in ME (top 45%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Windsor Elementary School (math 87% / reading 87%, grade A+, #77 of 294 statewide, top 33%, 287 students, 55% FRL) — zoned schools average 55% FRL vs 40% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 158 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Lincoln County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $325k implies a 160% gain — meaningful room to come down on a strong offer.

Recommended offer $190,700 (41.3% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.59% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.71%
• DSCR: 0.70
• GRM: 14.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.59×
• Total profit: $144,479
• Equity at exit: $292,786

10-year hold

• IRR: 17.9%
• Equity multiple: 5.95×
• Total profit: $450,731
• Equity at exit: $631,404

Cash invested: $91,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04353

• Home prices YoY: 8.5%
• Active inventory: 15
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $1,907 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$176 /mo · $2,108/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $-509

Break-even live

Break-even rent $2,551

Max offer price $235,103

Occupancy floor —

Sensitivity live

Price	-10% $-325	-5% $-417	+0% $-509	+5% $-601	+10% $-693
Rent	-10% $-660	-5% $-584	+0% $-509	+5% $-434	+10% $-358
Rate	-1.0pp $-345	-0.5pp $-426	base $-509	+0.5pp $-593	+1.0pp $-679

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,906
Total (2 units)			$1,907

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $325,000 Active 13 DOM
2. 2026-06-19
   days on market $325,000 Active 11 DOM
3. 2026-06-18
   days on market $325,000 Active 10 DOM
4. 2026-06-17
   price $325,000 Active 9 DOM
5. 2026-06-17
   days on market $350,000 Active 9 DOM
6. 2026-06-16
   days on market $350,000 Active 8 DOM
7. 2026-06-15
   days on market $350,000 Active 7 DOM
8. 2026-06-14
   days on market $350,000 Active 5 DOM
9. 2026-06-12
   days on market $350,000 Active 4 DOM
10. 2026-06-09
    remarks 253-char remark
11. 2026-06-09
    listed $350,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $2,108 · $176/mo
• Projected year-2 tax: $3,264 · $272/mo
• Expected delta: +$1,156/yr (+$96/mo · 54.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,884
• − Mortgage interest: −$18,205
• − Property taxes: −$2,108
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,831
• − Management: −$1,831
• − Depreciation: −$9,455
• Taxable loss: −$12,170
• Est. tax savings @ 24.0%: +$2,921
• After-tax cash flow: $-3,186/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: RSU 12
• NCES district ID: 2314780
• Math proficiency: 86% ▲ 58.00%
• Reading proficiency: 86% ▲ 35.00%
• Median HH income: $49,792
• Composite: 72.62/100
• National rank: #197
• State rank: #50 of 112 in ME

Livability — Whitefield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 2,343

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 33,059 people
• By 2030: 32,050 · -3.1%
• By 2040: 29,490 · -10.8%
• By 2050: 27,201 · -17.7%
• By 2075: 24,598 · -25.6%
• By 2100: 21,989 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5%
• Common ancestry: Lithuanian 14% Slovak 6% Serbian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Lincoln

• 2024 margin: D (+11.2) · D 54.6% · R 43.4% · Other 2.0%
• 2008→2024 swing: -0.8pp no change · 2008: 12.0pp · 2024: 11.2pp
• All cycles: 2024: D+11.2 2020: D+10.3 2016: D+2.4 2012: D+11.7 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.79%
• Current HPI: 305.156
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+171.3% since first listed

6 events — show timeline

• 2026-06-08 Listed $350,000 MREIS
• 2015-10-06 Sold (MLS) $125,000 MREIS
• 2015-08-18 Delisted — MREIS
• 2015-05-26 Relisted — MREIS
• 2015-05-17 Delisted — MREIS
• 2015-03-05 Listed $129,000 MREIS

Property tax history

+2.2%/yr

Latest (2025): $2,108 · +1.6% YoY. Source: county tax records.