211 Access Hwy

Limestone, ME 04750

$37,500B+

3 bd · 1.0 ba · 1,272 sqft · Built 1961 · Other · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,401/mo
• Mortgage (P&I): −$197
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $839/mo
• Annual: $10,067/yr
• Cap rate: 33.14%
• Cash-on-cash: 95.88%
• DSCR: 5.27
• 1% rule: 3.73%
• Cash to close: $10,500

Investor read

• This is a 3-bed/1.0-bath other listed at $38k.
• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 59 days — a 3% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (3.0% below list) — sets the bar for market timing.
• In year one you build about $908 of equity ($259 loan paydown + $649 appreciation (1.7% local appreciation)).
• Location reads 75/100 on livability (#36 in ME, #3,831 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Zoned schools: Limestone Community School (math 67% / reading 77%, grade A-, #253 of 294 statewide, top 90%, 140 students, 61% FRL).
• Market conditions: 27 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.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.