26 Petticoat Hl

Woodland, ME 04668

$19,900D+

4 bd · 1.0 ba · 1,200 sqft · Built 1900 · Other · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,451/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $959/mo
• Annual: $11,506/yr
• Cap rate: 64.11%
• Cash-on-cash: 206.49%
• DSCR: 10.19
• 1% rule: 7.29%
• Cash to close: $5,572

Investor read

• This is a 4-bed/1.0-bath other listed at $20k.
• At list price, monthly cash flow is $959 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 25 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• In year one you build about $201 of equity ($138 loan paydown + $63 appreciation (0.3% local appreciation)).
• Location reads 74/100 on livability (#45 in ME, #4,798 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Princeton Public Schools (rural): math 25% / reading 35% proficiency, ranked #171 of 185 in ME (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton Elementary School (math 72% / reading 72%, grade A-, #253 of 294 statewide, top 90%, 122 students, 48% FRL).
• Zoned-school proficiency averages 72% at this address vs 30% district-wide (+42 pts) — the actual schools serving this property are materially stronger than the Princeton Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 4.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 67 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• 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

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.