30 Chestnut St · Rockland, ME 04841

$410,000

9 bd · 4.0 ba · 3,535 sqft · MultiFamily public records · 17 Days on market

Built 1855 0.28 ac lot

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +6.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Opportunity meets flexibility in this multi unit property located close to downtown Rockland and the harbor. Whether you are looking for an owner occupied investment, space for multi generational living, or an opportunity to expand your real estate portfolio, this three unit building offers versatility along with the potential to offset some or even all of your mortgage payment with rental income. Unit A occupies the first floor and features four bedrooms, an updated kitchen, and private entry access from the side deck. Unit B is located on the second floor and offers two bedrooms, while Unit C on the third floor includes one bedroom and private rear stair access. The property previously pa

Key facts

• Three unit building
• Multi unit property
• Updated kitchen

Tags

• MULTI UNIT PROPERTY
• OWNER OCCUPIED INVESTMENT
• MULTI GENERATIONAL LIVING
• THREE UNIT BUILDING
• UPDATED KITCHEN
• PRIVATE ENTRY ACCESS

Property features AI

Finance

• Financial info: Property is a 3-unit multi-family building; Gross income reported at $60,000; Operating expenses reported at $32,000; Current actual rents shown: unit rents $1,900 (4-bed, first level), $1,600 (2-bed, second level), $1,500 (1-bed, third level)

Exterior

• Parking: On-site common parking with 1–4 spaces
• Security: Fire system; Fire sprinkler system
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Electric water heater
• Home design: Three-story wood frame building with vinyl siding; Shingle roof; Originally built in 1855; Zoned H
• Construction: Wood frame construction; Vinyl siding; Shingle roof; Built in 1855
• Exterior features: Deck; Intown location near shopping and town; Neighborhood setting with sidewalks; Level lot; Paved road access

Interior

• Kitchen: Each unit includes a refrigerator
• Bedrooms: Unit mix includes 1-bedroom, 2-bedroom, and 4-bedroom units (unit levels: 1-bed on third, 2-bed on second, 4-bed on first)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: Three full bathrooms in the building
• Heating & cooling: Hot water heating; Building has heating
• Interior features: Main-level bedroom; One-floor living option; Unfurnished
• Laundry & utility: Laundry located on the main level; Each unit has a dedicated water heater; Units have dedicated electric meters

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $504/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $410k).
• Recommended offer: $404k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.3% in Rockland — 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 62/100 on livability (#116 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, amenities F, commute F.
• RSU 13 (town): math 77% / reading 85% proficiency, ranked #84 of 112 in ME (top 75%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 71 active listings in the ZIP; 160 units permitted in Knox County in 2024 (58 in 5+ unit buildings).
• At $5,576/mo this rent would consume 118% of the median local household income ($57k/yr) (locally 279% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $115k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($404k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $410k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1855 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $403,850 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1855 — 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 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?
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: 1.36% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.80%
• DSCR: 1.70
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $29,949
• Equity at exit: $61,132

10-year hold

• IRR: 16.1%
• Equity multiple: 2.31×
• Total profit: $150,528
• Equity at exit: $35,449

Cash invested: $114,800 (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 04841

• Home prices YoY: -17.8%
• Active inventory: 71
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $5,576 medium
• Mortgage (P&I): −$2,150
• Tax from tax record: −$573 /mo · $6,872/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,171
• Net cashflow: $1,511

Break-even live

Break-even rent $3,663

Max offer price $410,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,577
Total (3 units)			$5,576

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $410,000 Active 17 DOM
2. 2026-06-17
   days on market $410,000 Active 16 DOM
3. 2026-06-16
   days on market $410,000 Active 15 DOM
4. 2026-06-15
   days on market $410,000 Active 14 DOM
5. 2026-06-14
   days on market $410,000 Active 12 DOM
6. 2026-06-10
   days on market $410,000 Active 9 DOM
7. 2026-06-09
   days on market $410,000 Active 8 DOM
8. 2026-06-08
   days on market $410,000 Active 7 DOM
9. 2026-06-07
   days on market $410,000 Active 6 DOM
10. 2026-06-03
    days on market $410,000 Active 2 DOM
11. 2026-06-01
    remarks 699-char remark
12. 2026-06-01
    listed $410,000 Active 1 DOM

ⓘ 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: $6,872 · $573/mo
• Projected year-2 tax: $6,872 · $573/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥85°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $66,912
• − Mortgage interest: −$22,966
• − Property taxes: −$6,872
• − Insurance: −$2,050
• − Repairs & maintenance: −$5,353
• − Management: −$5,353
• − Depreciation: −$11,927
• Taxable income: $12,390
• Est. tax owed @ 24.0%: −$2,974
• After-tax cash flow: $15,164/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 13
• NCES district ID: 2314787
• Math proficiency: 77% ▲ 51.00%
• Reading proficiency: 85% ▲ 36.00%
• Median HH income: $43,177
• Composite: 67.81/100
• National rank: #363
• State rank: #84 of 112 in ME

Livability — Rockland

• Score: 62/100
• State rank: #116
• US rank: #16831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockland, ME
• County: Knox County · 7,035 people
• City population: 7,035
• Metro: nan
• Population (ZIP): 7,035
• Household income: $56,533
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 279.0

Population outlook (Knox County) Hauer SSP2

• Today (2025): 39,304 people
• By 2030: 38,497 · -2.1%
• By 2040: 36,090 · -8.2%
• By 2050: 33,681 · -14.3%
• By 2075: 29,934 · -23.8%
• By 2100: 24,633 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 12% Serbian 8% Lithuanian 5%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2%

Political lean MEDSL · Knox

• 2024 margin: D (+18.6) · D 58.2% · R 39.6% · Other 2.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 21.4pp · 2024: 18.6pp
• All cycles: 2024: D+18.6 2020: D+19.9 2016: D+14.3 2012: D+22.6 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.90%
• Current HPI: 341.7862
• Rent YoY: —
• Metro: nan
• State GDP YoY: —
• F500 in state: 0

Price history

+141.2% since first listed

5 events — show timeline

• 2026-06-01 Listed $410,000 MREIS
• 2024-02-21 Rental Removed $1,350 RENTEC
• 2024-02-12 Price Changed $1,350 RENTEC
• 2024-02-04 Listed for Rent $1,200 RENTEC
• 2003-09-04 Sold (Public Records) $170,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $6,872 · -8.9% YoY. Source: county tax records.