172 W Ridge Rd

Presque Isle, ME 04740

$19,500C-

2 bd · 1.0 ba · 1,000 sqft · Built — · SingleFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $970/mo
• Mortgage (P&I): −$102
• Tax + insurance: −$32
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $631/mo
• Annual: $7,577/yr
• Cap rate: 45.15%
• Cash-on-cash: 138.78%
• DSCR: 7.17
• 1% rule: 4.97%
• Cash to close: $5,460

Investor read

• This is a 2-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($970 rent vs $20k).
• It's been on market 48 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• In year one you build about $551 of equity ($135 loan paydown + $416 appreciation (2.1% local appreciation)).
• Location reads 68/100 on livability (#85 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Easton Public Schools (rural): math 45% / reading 65% proficiency, ranked #39 of 185 in ME (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 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; this cycle's ask is 26% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.