Lot 3 Morrison Brook Acres

Oakfield, ME 04763

$69,900B-

1 bd · None ba · 504 sqft · Built 2023 · SingleFamily · Active · 370 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $825/mo
• Mortgage (P&I): −$356
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $183/mo
• Annual: $2,194/yr
• Cap rate: 9.53%
• Cash-on-cash: 11.55%
• DSCR: 1.51
• 1% rule: 1.22%
• Cash to close: $18,986

Investor read

• This is a 1-bed/?-bath single-family listed at $70k. Condition is rated good.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($825 rent vs $70k).
• It's been on market 370 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($469 loan paydown + $713 appreciation (1.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• RSU 50 (rural): math 30% / reading 55% proficiency, ranked #103 of 185 in ME (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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 (1.1% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 370 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Exposed framing in kitchen and bath — Exposed framing indicates incomplete construction
• Minor: Exposed subfloor in kitchen and bath — Exposed subfloor indicates incomplete construction