318 Bigelow Rd · Hartland, ME 04971

$249,900

2 bd · 1.0 ba · 1,176 sqft · MultiFamily · 55 Days on market

Built 1975 2.75 ac lot $212/sqft · 11% below area Est $280k · 11% under ↓ 4% since listing

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

• ARV discount +12.4/15.0
• Cash flow +11.3/30.0
• Schools +6.4/10.0
• Appreciation +6.0/10.0
• DSCR +3.3/10.0
• Livability +3.1/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Enjoy scenic views from this well-maintained raised ranch offering a flexible layout and plenty of living space. The property features generous road frontage and ample space for a potential garage. The home currently offers two bedrooms, with additional rooms--previously used as bedrooms--located in the partially finished daylight basement, providing great potential for expanded living space. The main level features an open-concept layout connecting the kitchen, dining area, and living room, making it ideal for both everyday living and entertaining. The daylight basement adds valuable bonus space with a variety of possible uses. A washer and dryer are included and conveniently located in the basement. Additional highlights include a metal roof, vinyl siding, a newer furnace, and an updated exterior door.

Key facts

• Flexible layout
• Scenic views
• Potential garage

Tags

• SCENIC VIEWS
• FLEXIBLE LAYOUT
• GENEROUS ROAD FRONTAGE
• POTENTIAL GARAGE
• EXPANDED LIVING SPACE
• OPEN-CONCEPT LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (23.6% below list).
• Recommended offer: $191k (23.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#120 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 28 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.9% local appreciation)).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Recommended offer $191,000 (23.6% 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 55 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 10.9

CMA / ARV

• ARV (median comp): $280,458
• List price: $249,900
• Delta: -10.90%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

1.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.15×
• Total profit: $10,401
• Equity at exit: $97,555

10-year hold

• IRR: 6.7%
• Equity multiple: 1.90×
• Total profit: $63,136
• Equity at exit: $139,707

Cash invested: $69,972 (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 04971

• Home prices YoY: 1.2%
• Active inventory: 28
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $1,910 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$184 /mo · $2,211/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-90

Break-even live

Break-even rent $2,024

Max offer price $234,005

Occupancy floor 100%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,910
Total (2 units)			$1,910

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-19
   historical Active Under Contract 815-char remark

   Show marketing remark (815 chars)

   Enjoy scenic views from this well-maintained raised ranch offering a flexible layout and plenty of living space. The property features generous road frontage and ample space for a potential garage. The home currently offers two bedrooms, with additional rooms--previously used as bedrooms--located in the partially finished daylight basement, providing great potential for expanded living space. The main level features an open-concept layout connecting the kitchen, dining area, and living room, making it ideal for both everyday living and entertaining. The daylight basement adds valuable bonus space with a variety of possible uses. A washer and dryer are included and conveniently located in the basement. Additional highlights include a metal roof, vinyl siding, a newer furnace, and an updated exterior door.

2. 2026-05-04
   price $249,900 815-char remark

   Show marketing remark (815 chars)

   Enjoy scenic views from this well-maintained raised ranch offering a flexible layout and plenty of living space. The property features generous road frontage and ample space for a potential garage. The home currently offers two bedrooms, with additional rooms--previously used as bedrooms--located in the partially finished daylight basement, providing great potential for expanded living space. The main level features an open-concept layout connecting the kitchen, dining area, and living room, making it ideal for both everyday living and entertaining. The daylight basement adds valuable bonus space with a variety of possible uses. A washer and dryer are included and conveniently located in the basement. Additional highlights include a metal roof, vinyl siding, a newer furnace, and an updated exterior door.

3. 2026-03-27
   listed $259,900 Active 815-char remark

   Show marketing remark (815 chars)

   Enjoy scenic views from this well-maintained raised ranch offering a flexible layout and plenty of living space. The property features generous road frontage and ample space for a potential garage. The home currently offers two bedrooms, with additional rooms--previously used as bedrooms--located in the partially finished daylight basement, providing great potential for expanded living space. The main level features an open-concept layout connecting the kitchen, dining area, and living room, making it ideal for both everyday living and entertaining. The daylight basement adds valuable bonus space with a variety of possible uses. A washer and dryer are included and conveniently located in the basement. Additional highlights include a metal roof, vinyl siding, a newer furnace, and an updated exterior door.

ⓘ 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: $2,211 · $184/mo
• Projected year-2 tax: $2,805 · $234/mo
• Expected delta: +$594/yr (+$49/mo · 26.9%)

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

Taxation est. · year 1

• Rental income: $22,920
• − Mortgage interest: −$13,998
• − Property taxes: −$2,211
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − Depreciation: −$7,270
• Taxable loss: −$5,476
• Est. tax savings @ 24.0%: +$1,314
• After-tax cash flow: $234/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Hartland

• Score: 61/100
• State rank: #120
• US rank: #18210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,703

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 48,335 people
• By 2030: 46,268 · -4.3%
• By 2040: 41,276 · -14.6%
• By 2050: 36,137 · -25.2%
• By 2075: 26,408 · -45.4%
• By 2100: 18,836 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 2%
• Common ancestry: Lithuanian 6% Slovak 4% German 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · Somerset

• 2024 margin: Strong R (+27.1) · D 35.6% · R 62.7% · Other 1.7%
• 2008→2024 swing: -32.8pp toward R · 2008: 5.7pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+23.4 2016: R+22.8 2012: D+1.7 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.92%
• Current HPI: 163.8924
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-3.8% since first listed

3 events — show timeline

• 2026-05-19 Contingent — MREIS
• 2026-05-04 Price Changed $249,900 MREIS
• 2026-03-27 Listed $259,900 MREIS

Property tax history

+2.4%/yr

Latest (2025): $2,211 · +24.6% YoY. Source: county tax records.