962 Main St #10 · Winthrop, ME 04259

$175,000

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 120 Days on market

Built 2023 Est $168k · at est. $350/mo HOA · 29% of rent

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Schools +7.2/10.0
• ARV discount +5.6/15.0
• Livability +3.5/5.0
• Cash flow +2.7/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

Key facts

• Open-concept home
• Private bath
• Double closets

Tags

• OPEN-CONCEPT HOME
• CATHEDRAL CEILINGS
• ABUNDANT CABINET SPACE
• PRIVATE BATH
• DOUBLE CLOSETS
• BUILT-IN DRESSER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $-594 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $89k (49.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (30.2% below list).
• Recommended offer: $89k (49.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#76 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A, housing A; Watch: health & safety C-, employment D, amenities F.
• RSU 02 (rural): math 83% / reading 87% proficiency, ranked #52 of 112 in ME (top 46%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 19 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $111k; list at $175k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $89,001 (49.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 2.22%
• Cash-on-cash: -14.55%
• DSCR: 0.35
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $168,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
962 Main St #10	0.00mi	2/2.0	1,120 (0%)	1mo	$167,500	$150	99
962 Main St #1	0.00mi	2/2.0	1,280 (+14%)	8mo	$140,000	$109	69

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 2.18×
• Total profit: $57,691
• Equity at exit: $157,654

10-year hold

• IRR: 14.2%
• Equity multiple: 5.08×
• Total profit: $200,120
• Equity at exit: $339,987

Cash invested: $49,000 (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 04259

• Home prices YoY: 5.7%
• Active inventory: 19
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$350
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-594

Break-even live

Break-even rent $1,974

Max offer price $89,001

Occupancy floor —

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $350 · $4,200/yr

Listing history 10 events

1. 2026-03-24
   status Pending
2. 2026-03-15
   status Active
3. 2026-02-02
   historical Active Under Contract
4. 2025-11-24
   listed $175,000 Active
5. 2023-06-09
   status Pending 354-char remark

   Show marketing remark (354 chars)

   NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

6. 2023-06-08
   soldstatus $111,377 Closed 354-char remark

   Show marketing remark (354 chars)

   NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

7. 2023-05-10
   status Active 354-char remark

   Show marketing remark (354 chars)

   NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

8. 2023-04-28
   status Pending 354-char remark

   Show marketing remark (354 chars)

   NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

9. 2023-04-18
   historical Active Under Contract 354-char remark

   Show marketing remark (354 chars)

   NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

10. 2023-02-07
    listed $113,650 Active 354-char remark

    Show marketing remark (354 chars)

    NEW 2023 Marlette 28'x40' manufactured home with 2 bedrooms, 2 bathrooms with open floor plan. Spacious rooms with ample storage, neutral colors, primary bedroom with large bath and walk-in shower. Pretty country lot in small park with easy access to Route 202 for easy commuting to Lewiston/Auburn or Augusta. Low $250. monthly lot rent. NO DOGS ALLOWED

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,659
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − HOA: −$4,200
• − Depreciation: −$5,091
• Taxable loss: −$10,280
• Est. tax savings @ 24.0%: +$2,467
• After-tax cash flow: $-4,665/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 02
• NCES district ID: 2314776
• Math proficiency: 83% ▲ 56.00%
• Reading proficiency: 87% ▲ 34.00%
• Median HH income: $52,565
• Composite: 72.04/100
• National rank: #208
• State rank: #52 of 112 in ME

Livability — Winthrop

• Score: 69/100
• State rank: #76
• US rank: #8395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,153
• Population (ZIP): 3,493

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 23% Iranian 7% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.99%
• Current HPI: 408.6401
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+54.0% since first listed

10 events — show timeline

• 2026-03-24 Pending — MREIS
• 2026-03-15 Relisted — MREIS
• 2026-02-02 Contingent — MREIS
• 2025-11-24 Listed $175,000 MREIS
• 2023-06-09 Pending — MREIS
• 2023-06-08 Sold (MLS) $111,377 MREIS
• 2023-05-10 Relisted — MREIS
• 2023-04-28 Pending — MREIS
• 2023-04-18 Contingent — MREIS
• 2023-02-07 Listed $113,650 MREIS