21 Goodwin St · Newport, ME 04953

$295,000

3 bd · 2.5 ba · 2,361 sqft · MultiFamily · 3 Days on market

Built 1960 0.45 ac lot

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• 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

Cape with 3 bedrooms with 2.5 baths, recently updated. Gas fireplace in living room. Formal dining, spacious kitchen, master bedroom with tongue and groove pine, master bath with walk in tiled shower. Family room in basement with bar area. Deck off dining room. Attached 2 car garage with sunroom that leads to a stone patio into the backyard. Paved drive. New boiler put in 2019, 3 heat pumps.

Key facts

• Formal dining room
• Nicely sized yard
• Finished basement

Tags

• FUNCTIONAL LAYOUT
• FORMAL DINING ROOM
• FINISHED BASEMENT
• PRIVATE EN SUITE BATH
• TILE SHOWER
• NICELY SIZED YARD

Property features AI

Exterior

• Parking: Attached 2-car garage (property lists 1–4 parking spaces)
• Utilities: Electric service with circuit breakers; Public sewer
• Home design: Cape Cod style single-family residence; Finished living areas both above and below grade; Approximately 0.45-acre lot
• Construction: Metal and shingle roof
• Exterior features: Deck; Residential zoning; Public water

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Primary bedroom on the first floor with closet and full bath; Two additional bedrooms on the second floor, each with closet
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms and one half bath (3 total bathrooms)
• Heating & cooling: Baseboard heating; Heat pump (provides heating and cooling); Hot water heating; Zoned heating
• Interior features: 8 total rooms; Two fireplaces (gas and wood burning); Interior entry basement; Roll-in shower (accessibility feature)
• Laundry & utility: Has heating and cooling systems (see Heating & cooling section)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $295k).

Location & tenants

• Location reads 61/100 on livability (#118 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; 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: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Penobscot 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 $83k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $170k; list at $295k implies a 74% gain — meaningful room to come down on a strong offer.

Recommended offer $295,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.58%
• DSCR: 2.14
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 43.6%
• Equity multiple: 4.30×
• Total profit: $272,850
• Equity at exit: $265,759

10-year hold

• IRR: 37.7%
• Equity multiple: 9.66×
• Total profit: $715,375
• Equity at exit: $573,120

Cash invested: $82,600 (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 04953

• Home prices YoY: 13.2%
• Active inventory: 25
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $4,736 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$311 /mo · $3,728/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$995
• Net cashflow: $1,761

Break-even live

Break-even rent $2,507

Max offer price $295,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,928	-5% $1,844	+0% $1,761	+5% $1,677	+10% $1,594
Rent	-10% $1,387	-5% $1,574	+0% $1,761	+5% $1,948	+10% $2,135
Rate	-1.0pp $1,909	-0.5pp $1,836	base $1,761	+0.5pp $1,684	+1.0pp $1,607

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.5	$4,737
Total (3 units)			$4,736

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Elm St Newport, ME	3.0	1.5	1958	$2,200	$1.12	44d	1	0.38mi

Listing history 12 events

1. 2026-05-07
   status Pending
2. 2026-05-04
   listed $295,000 Active
3. 2020-02-18
   soldstatus $170,000 Closed 394-char remark

   Show marketing remark (394 chars)

   Cape with 3 bedrooms with 2.5 baths, recently updated. Gas fireplace in living room. Formal dining, spacious kitchen, master bedroom with tongue and groove pine, master bath with walk in tiled shower. Family room in basement with bar area. Deck off dining room. Attached 2 car garage with sunroom that leads to a stone patio into the backyard. Paved drive. New boiler put in 2019, 3 heat pumps.

4. 2020-01-06
   status Pending 394-char remark

   Show marketing remark (394 chars)

   Cape with 3 bedrooms with 2.5 baths, recently updated. Gas fireplace in living room. Formal dining, spacious kitchen, master bedroom with tongue and groove pine, master bath with walk in tiled shower. Family room in basement with bar area. Deck off dining room. Attached 2 car garage with sunroom that leads to a stone patio into the backyard. Paved drive. New boiler put in 2019, 3 heat pumps.

5. 2019-10-11
   price $199,900 394-char remark

   Show marketing remark (394 chars)

   Cape with 3 bedrooms with 2.5 baths, recently updated. Gas fireplace in living room. Formal dining, spacious kitchen, master bedroom with tongue and groove pine, master bath with walk in tiled shower. Family room in basement with bar area. Deck off dining room. Attached 2 car garage with sunroom that leads to a stone patio into the backyard. Paved drive. New boiler put in 2019, 3 heat pumps.

6. 2019-08-30
   price $215,000 394-char remark

   Show marketing remark (394 chars)

   Cape with 3 bedrooms with 2.5 baths, recently updated. Gas fireplace in living room. Formal dining, spacious kitchen, master bedroom with tongue and groove pine, master bath with walk in tiled shower. Family room in basement with bar area. Deck off dining room. Attached 2 car garage with sunroom that leads to a stone patio into the backyard. Paved drive. New boiler put in 2019, 3 heat pumps.

7. 2019-04-19
   listed $235,000 Active 394-char remark

   Show marketing remark (394 chars)

   Cape with 3 bedrooms with 2.5 baths, recently updated. Gas fireplace in living room. Formal dining, spacious kitchen, master bedroom with tongue and groove pine, master bath with walk in tiled shower. Family room in basement with bar area. Deck off dining room. Attached 2 car garage with sunroom that leads to a stone patio into the backyard. Paved drive. New boiler put in 2019, 3 heat pumps.

8. 2015-12-01
   historical
9. 2015-11-03
   price $164,900
10. 2015-07-08
    listed $174,900 Active
11. 2015-05-23
    historical
12. 2015-03-05
    listed $190,000 Active

ⓘ 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: $3,728 · $311/mo
• Projected year-2 tax: $3,870 · $322/mo
• Expected delta: +$142/yr (+$12/mo · 3.8%)

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

Taxation est. · year 1

• Rental income: $56,832
• − Mortgage interest: −$16,525
• − Property taxes: −$3,728
• − Insurance: −$1,475
• − Repairs & maintenance: −$4,547
• − Management: −$4,547
• − Depreciation: −$8,582
• Taxable income: $17,429
• Est. tax owed @ 24.0%: −$4,183
• After-tax cash flow: $16,947/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 — Newport

• Score: 61/100
• State rank: #118
• US rank: #17837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, ME
• Population (ZIP): 3,145

Population outlook (Penobscot County) Hauer SSP2

• Today (2025): 149,928 people
• By 2030: 146,386 · -2.4%
• By 2040: 135,952 · -9.3%
• By 2050: 123,864 · -17.4%
• By 2075: 97,825 · -34.8%
• By 2100: 77,196 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Serbian 6% Lithuanian 5% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Penobscot

• 2024 margin: R (+10.9) · D 43.6% · R 54.5% · Other 1.9%
• 2008→2024 swing: -15.9pp toward R · 2008: 5.0pp · 2024: -10.9pp
• All cycles: 2024: R+10.9 2020: R+8.3 2016: R+10.9 2012: D+2.9 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 37.37%
• Current HPI: 320.8626
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+55.3% since first listed

12 events — show timeline

• 2026-05-07 Pending — MREIS
• 2026-05-04 Listed $295,000 MREIS
• 2020-02-18 Sold (MLS) $170,000 MREIS
• 2020-01-06 Pending — MREIS
• 2019-10-11 Price Changed $199,900 MREIS
• 2019-08-30 Price Changed $215,000 MREIS
• 2019-04-19 Listed $235,000 MREIS
• 2015-12-01 Delisted — MREIS
• 2015-11-03 Price Changed $164,900 MREIS
• 2015-07-08 Listed $174,900 MREIS
• 2015-05-23 Delisted — MREIS
• 2015-03-05 Listed $190,000 MREIS

Property tax history

+4.7%/yr

Latest (2024): $3,728 · +14.9% YoY. Source: county tax records.