15 Deer Isle Dr · Old Orchard Beach, ME 04064

$129,000

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 5 Days on market

Built 1996 $134/sqft · 12% below area Est $146k · 12% under $687/mo HOA · 29% of rent

---

Why this score? — see what drove the B 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).

• Cash flow +26.2/30.0
• ARV discount +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• Schools +6.7/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly updated, this 3-bedroom, 2-bath home offers affordable living in a convenient Old Orchard Beach location. Featuring a bright open layout, recent cosmetic updates, and a functional single-level floor plan, this home is ideal for year-round living or a low-maintenance coastal retreat. The spacious primary bedroom includes a private full bath, while the additional bedrooms offer flexibility for guests, or a home office. Enjoy easy access to local beaches, shopping, restaurants, schools, and downtown Old Orchard Beach, all while tucked into a quiet neighborhood setting. Whether you're looking for an affordable primary residence, downsizing opportunity, or investment property, this refre

Key facts

• Private full bath
• Parking
• Built 1996

Tags

• OLD ORCHARD BEACH LOCATION
• SINGLE-LEVEL FLOOR PLAN
• PRIVATE FULL BATH
• QUIET NEIGHBORHOOD SETTING
• EASY ACCESS TO LOCAL BEACHES

Property features AI

Finance

• HOA & community: Association present with monthly fee of $687; Pets allowed with breed restrictions; Land lease in place

Exterior

• Parking: Paved parking with 1–4 spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Electric water heater
• Home design: Mobile home (Double Wide); Sunhaven model by Skyline; Built in 1996; Entry level on first floor
• Construction: Wood frame with vinyl siding; Block foundation; Shingle roof
• Exterior features: Deck; Subdivided, wooded lot

Interior

• Kitchen: Electric range; Gas range; Dishwasher
• Bedrooms: Primary bedroom on the first floor; Bedroom 2 on the first floor; Bedroom 3 on the first floor
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: First-floor primary bedroom with full bath; Total of 4 rooms
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Cap rate 9.4% vs local median 2.1% in Old Orchard Beach — 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.

Location & tenants

• Location reads 68/100 on livability (#88 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools D, amenities F, commute F.
• RSU 23 (suburban): math 78% / reading 80% proficiency, ranked #87 of 112 in ME (top 78%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+4.9%/yr); 171 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $2,358/mo this rent would consume 47% of the median local household income ($60k/yr) (locally 441% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 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.

Investment metrics

• 1% rule: 1.83% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• GRM: 4.6

CMA / ARV

• ARV (median comp): $146,500
• List price: $129,000
• Delta: -11.95%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Deer Isle Dr	0.00mi	3/2.0	960 (0%)	1mo	$136,000	$142	100
5 Wilson Dr	0.34mi	3/2.0	980 (+2%)	6mo	$105,000	$107	76
2 Wilson Dr	0.34mi	2/2.0 (-1)	924 (-4%)	3mo	$149,900	$162	71
2 Stackpole Dr	0.45mi	2/2.0 (-1)	924 (-4%)	2mo	$146,500	$159	66
11 Wilson Dr	0.34mi	3/2.0	1,064 (+11%)	8mo	$133,000	$125	60
1 Bayberry Dr	0.38mi	2/1.0 (-1)	924 (-4%)	23mo	$72,000	$78	48
9 Freshwater Dr	0.66mi	2/2.0 (-1)	924 (-4%)	24mo	$189,000	$205	38
15 Ryefield Dr	0.75mi	2/2.0 (-1)	924 (-4%)	23mo	$158,500	$172	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.93% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $5,156
• Equity at exit: $19,234

10-year hold

• IRR: 15.8%
• Equity multiple: 2.47×
• Total profit: $53,153
• Equity at exit: $11,154

Cash invested: $36,120 (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 04064

• Home prices YoY: -11.6%
• Rents YoY: 4.9%
• Active inventory: 171
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,358 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$117 /mo · $1,399/yr
• Insurance: −$54
• HOA: −$687
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $329

Break-even live

Break-even rent $1,942

Max offer price $129,000

Occupancy floor 81%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Smithwheel Rd #61 Old Orchard Beach, ME	2.0	1.0	800	$2,100	$2.62	44d	1	0.77mi
88 Saco Ave #1 Old Orchard Beach, ME	2.0	1.0	800	$2,000	$2.50	13d	1	0.94mi

HOA detail

• Monthly dues: $687 · $8,244/yr

Listing history 1 events

1. 2026-05-14
   listed $129,000 Active 765-char remark

ⓘ 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: $1,399 · $117/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$178/yr (+$15/mo · 12.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,298
• − Mortgage interest: −$7,226
• − Property taxes: −$1,399
• − Insurance: −$645
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − HOA: −$8,244
• − Depreciation: −$3,753
• Taxable income: $2,504
• Est. tax owed @ 24.0%: −$601
• After-tax cash flow: $3,349/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 23
• NCES district ID: 2314784
• Math proficiency: 78% ▲ 51.00%
• Reading proficiency: 80% ▲ 27.00%
• Median HH income: $49,630
• Composite: 66.79/100
• National rank: #406
• State rank: #87 of 112 in ME

Livability — Old Orchard Beach

• Score: 68/100
• State rank: #88
• US rank: #9943

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment C+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Old Orchard Beach, ME
• County: York County · 80,026 people
• City population: 8,632
• Metro: Portland-South Portland, ME
• Population (ZIP): 8,632
• Household income: $59,887
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 441.0

Population outlook (York County) Hauer SSP2

• Today (2025): 209,961 people
• By 2030: 212,816 · +1.4%
• By 2040: 214,360 · +2.1%
• By 2050: 210,350 · +0.2%
• By 2075: 201,686 · -3.9%
• By 2100: 183,392 · -12.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 1% Native American 1%
• Common ancestry: Lithuanian 9% Slovak 7% Romanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · French/Haitian/Cajun 6% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · York

• 2024 margin: D (+10.5) · D 54.3% · R 43.8% · Other 1.9%
• 2008→2024 swing: -10.1pp toward R · 2008: 20.5pp · 2024: 10.5pp
• All cycles: 2024: D+10.5 2020: D+12.6 2016: D+4.8 2012: D+16.4 2008: D+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.32%
• Current HPI: 489.543
• Rent YoY: ▲ 4.93%
• Metro: Portland-South Portland, ME
• State GDP YoY: —
• F500 in state: 0

Price history

+5.4% since first listed

3 events — show timeline

• 2026-06-02 Sold (MLS) $136,000 MREIS
• 2026-05-19 Pending — MREIS
• 2026-05-14 Listed $129,000 MREIS

Property tax history

+5.0%/yr

Latest (2024): $1,399 · +9.2% YoY. Source: county tax records.