59 Deerfield Dr

Hancock, ME 04640

$75,000C-

2 bd · 2.0 ba · 1,000 sqft · Built 1998 · Manufactured · Active · 364 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,160/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$59
• HOA: −$465
• Vac / Maint / Mgmt: −$244
• Net cashflow: $-0/mo
• Annual: $-5/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• 1% rule: 1.55%
• Cash to close: $21,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $0 ($-5/yr) — negative.
• To cash-flow at today's rent, offer at most $75k (0.1% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 364 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $181 of equity ($519 loan paydown + $-338 appreciation (-0.5% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Hancock Public Schools (rural): math 20% / reading 45% proficiency, ranked #158 of 185 in ME (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 40% of rent.
• Market conditions: 36 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

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 364 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.