98 Church St · Oakland, ME 04963

$240,000

4 bd · 3.0 ba · 2,175 sqft · MultiFamily public records · 121 Days on market

Built 1920 6,098 sqft lot $110/sqft · at area comps Est $202k · 19% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.1/10.0
• Schools +7.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Strong cash flow and a great rental history make this three unit Oakland property a smart investment. Two one-bedroom units and one two-bedroom unit, all currently rented. The numbers work and with an owner-occupant purchase, you could live rent free while your tenants cover the mortgage.

Key facts

• 6,098 sq ft lot
• Parking
• Built 1920

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $334/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 1.8% in Oakland — 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 75/100 on livability (#37 in ME, #3,871 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• RSU 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 72 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 $26k of equity ($2k loan paydown + $24k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $26k; list at $240k implies a 823% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.31% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.89%
• DSCR: 1.80
• GRM: 6.3

CMA / ARV

• ARV (median comp): $201,701
• List price: $240,000
• Delta: 18.99%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 E East School St	0.42mi	4/2.0	1,856 (-15%)	18mo	$265,000	$143	37

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: 37.6%
• Equity multiple: 3.89×
• Total profit: $194,449
• Equity at exit: $216,211

10-year hold

• IRR: 32.3%
• Equity multiple: 8.77×
• Total profit: $522,335
• Equity at exit: $466,267

Cash invested: $67,200 (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 04963

• Home prices YoY: 25.1%
• Active inventory: 72
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $3,150 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$128 /mo · $1,539/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $1,002

Break-even live

Break-even rent $1,882

Max offer price $240,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,138	-5% $1,070	+0% $1,002	+5% $934	+10% $866
Rent	-10% $753	-5% $877	+0% $1,002	+5% $1,126	+10% $1,251
Rate	-1.0pp $1,123	-0.5pp $1,063	base $1,002	+0.5pp $939	+1.0pp $876

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,100
1× unit	2	1	$1,050
Total (3 units)			$3,150

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $240,000 Active 121 DOM
2. 2026-06-18
   days on market $240,000 Active 120 DOM
3. 2026-06-17
   days on market $240,000 Active 119 DOM
4. 2026-06-16
   days on market $240,000 Active 118 DOM
5. 2026-06-15
   days on market $240,000 Active 117 DOM
6. 2026-06-14
   days on market $240,000 Active 115 DOM
7. 2026-06-12
   days on market $240,000 Active 114 DOM
8. 2026-06-09
   days on market $240,000 Active 111 DOM
9. 2026-06-08
   days on market $240,000 Active 110 DOM
10. 2026-06-07
    days on market $240,000 Active 109 DOM
11. 2026-06-05
    days on market $240,000 Active 106 DOM
12. 2026-06-03
    days on market $240,000 Active 105 DOM
13. 2026-06-02
    days on market $240,000 Active 104 DOM
14. 2026-06-01
    days on market $240,000 Active 103 DOM
15. 2026-05-31
    days on market $240,000 Active 102 DOM
16. 2026-05-30
    days on market $240,000 Active 101 DOM
17. 2026-02-19
    listed $240,000 Active 289-char remark

    Show marketing remark (289 chars)

    Strong cash flow and a great rental history make this three unit Oakland property a smart investment. Two one-bedroom units and one two-bedroom unit, all currently rented. The numbers work and with an owner-occupant purchase, you could live rent free while your tenants cover the mortgage.

18. 2016-03-03
    soldstatus $26,000 Sold 282-char remark

    Show marketing remark (282 chars)

    Three unit building in the heart of Oakland. First floor offers two spacious one bedroom apartments with full baths. Second floor offers a larger two bedroom apartment-- entire second floor. Walking distance to shopping, restaurants, and library. See attachment for room dimensions.

19. 2016-02-04
    status Pending 282-char remark

    Show marketing remark (282 chars)

    Three unit building in the heart of Oakland. First floor offers two spacious one bedroom apartments with full baths. Second floor offers a larger two bedroom apartment-- entire second floor. Walking distance to shopping, restaurants, and library. See attachment for room dimensions.

20. 2016-01-23
    price $28,500 282-char remark

    Show marketing remark (282 chars)

    Three unit building in the heart of Oakland. First floor offers two spacious one bedroom apartments with full baths. Second floor offers a larger two bedroom apartment-- entire second floor. Walking distance to shopping, restaurants, and library. See attachment for room dimensions.

21. 2015-12-23
    listed $32,500 Active 282-char remark

    Show marketing remark (282 chars)

    Three unit building in the heart of Oakland. First floor offers two spacious one bedroom apartments with full baths. Second floor offers a larger two bedroom apartment-- entire second floor. Walking distance to shopping, restaurants, and library. See attachment for room dimensions.

ⓘ 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: $1,539 · $128/mo
• Projected year-2 tax: $2,402 · $200/mo
• Expected delta: +$862/yr (+$72/mo · 56.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,800
• − Mortgage interest: −$13,444
• − Property taxes: −$1,539
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,024
• − Management: −$3,024
• − Depreciation: −$6,982
• Taxable income: $8,587
• Est. tax owed @ 24.0%: −$2,061
• After-tax cash flow: $9,959/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 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 of 112 in ME

Livability — Oakland

• Score: 75/100
• State rank: #37
• US rank: #3871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, ME
• Population (ZIP): 7,375

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% Asian 1%
• Common ancestry: Lithuanian 14% Slovak 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 3% Spanish 1% Other Indo-European 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: ▲ 76.94%
• Current HPI: 383.7687
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+638.5% since first listed

5 events — show timeline

• 2026-02-19 Listed $240,000 MREIS
• 2016-03-03 Sold (MLS) $26,000 MREIS
• 2016-02-04 Pending — MREIS
• 2016-01-23 Price Changed $28,500 MREIS
• 2015-12-23 Listed $32,500 MREIS

Property tax history

+2.9%/yr

Latest (2024): $1,539 · +14.7% YoY. Source: county tax records.