308 Whittier Rd · Farmington, ME 04938

$229,000

3 bd · 1.0 ba · 1,654 sqft · SingleFamily public records · 159 Days on market

Built 1983 0.32 ac lot $138/sqft · 6% below area Est $244k · 6% under

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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).

• Cash flow +17.9/30.0
• ARV discount +10.2/15.0
• Appreciation +10.0/10.0
• Schools +6.7/10.0
• DSCR +5.6/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Newly Renovated Ranch Home Step into this beautifully rehabbed single-family ranch offering modern comfort and timeless charm. Featuring 3 bedrooms and 1 stylishly updated bathroom, this home has been thoughtfully refreshed with quality finishes throughout. The open-concept living area is bright and inviting, perfect for entertaining or relaxing at home. Enjoy outdoor living at its best with a well-landscaped yard and apple trees designed for both beauty and ease of maintenance. The deck provides a peaceful retreat where you can unwind and take in the stunning sunset views each evening. Move-in ready and perfectly situated for all of the amenities that Farmington area offers. This home blends modern updates with cozy, welcoming appeal.

Key facts

• Move-in ready
• Well-landscaped yard
• Deck

Tags

• OPEN-CONCEPT LIVING AREA
• WELL-LANDSCAPED YARD
• DECK
• STUNNING SUNSET VIEWS
• MOVE-IN READY
• FARMINGTON AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (13.5% below list).
• Recommended offer: $198k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.8% in Farmington — 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 80/100 on livability (#18 in ME, #1,653 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D-.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mt Blue Middle School (math 78% / reading 79%, grade A+, #69 of 85 statewide, top 82%, 488 students, 50% FRL); Mt Blue High School (math 87% / reading 95%, grade A+, #42 of 108 statewide, top 38%, 733 students, 45% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 92 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Franklin County population projected at -21% 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 $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 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 $55k; list at $229k implies a 316% gain — meaningful room to come down on a strong offer.

Recommended offer $198,142 (13.5% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.63%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

• ARV (median comp): $243,724
• List price: $229,000
• Delta: -6.04%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 Stanwood Park Cir	0.71mi	3/1.0	1,742 (+5%)	21mo	$315,000	$181	40

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: 26.9%
• Equity multiple: 3.14×
• Total profit: $136,960
• Equity at exit: $206,301

10-year hold

• IRR: 23.5%
• Equity multiple: 7.14×
• Total profit: $393,422
• Equity at exit: $444,897

Cash invested: $64,120 (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 04938

• Home prices YoY: 6.4%
• Active inventory: 92
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,981 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $194

Break-even live

Break-even rent $1,736

Max offer price $229,000

Occupancy floor 85%

Sensitivity live

Price	-10% $323	-5% $259	+0% $194	+5% $129	+10% $64
Rent	-10% $37	-5% $115	+0% $194	+5% $272	+10% $350
Rate	-1.0pp $309	-0.5pp $252	base $194	+0.5pp $134	+1.0pp $74

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $229,000 Active 159 DOM
2. 2026-06-21
   days on market $229,000 Active 158 DOM
3. 2026-06-18
   days on market $229,000 Active 156 DOM
4. 2026-06-17
   days on market $229,000 Active 155 DOM
5. 2026-06-16
   days on market $229,000 Active 154 DOM
6. 2026-06-15
   days on market $229,000 Active 153 DOM
7. 2026-06-13
   days on market $229,000 Active 151 DOM
8. 2026-06-12
   days on market $229,000 Active 150 DOM
9. 2026-06-09
   days on market $229,000 Active 147 DOM
10. 2026-06-08
    days on market $229,000 Active 146 DOM
11. 2026-06-07
    days on market $229,000 Active 145 DOM
12. 2026-06-07
    days on market $229,000 Active 144 DOM
13. 2026-06-04
    days on market $229,000 Active 141 DOM
14. 2026-06-02
    days on market $229,000 Active 140 DOM
15. 2026-06-01
    days on market $229,000 Active 139 DOM
16. 2026-05-31
    days on market $229,000 Active 138 DOM
17. 2026-05-31
    days on market $229,000 Active 137 DOM
18. 2026-05-05
    price $229,000 745-char remark

    Show marketing remark (745 chars)

    Newly Renovated Ranch Home Step into this beautifully rehabbed single-family ranch offering modern comfort and timeless charm. Featuring 3 bedrooms and 1 stylishly updated bathroom, this home has been thoughtfully refreshed with quality finishes throughout. The open-concept living area is bright and inviting, perfect for entertaining or relaxing at home. Enjoy outdoor living at its best with a well-landscaped yard and apple trees designed for both beauty and ease of maintenance. The deck provides a peaceful retreat where you can unwind and take in the stunning sunset views each evening. Move-in ready and perfectly situated for all of the amenities that Farmington area offers. This home blends modern updates with cozy, welcoming appeal.

19. 2026-04-06
    price $232,900 745-char remark

    Show marketing remark (745 chars)

    Newly Renovated Ranch Home Step into this beautifully rehabbed single-family ranch offering modern comfort and timeless charm. Featuring 3 bedrooms and 1 stylishly updated bathroom, this home has been thoughtfully refreshed with quality finishes throughout. The open-concept living area is bright and inviting, perfect for entertaining or relaxing at home. Enjoy outdoor living at its best with a well-landscaped yard and apple trees designed for both beauty and ease of maintenance. The deck provides a peaceful retreat where you can unwind and take in the stunning sunset views each evening. Move-in ready and perfectly situated for all of the amenities that Farmington area offers. This home blends modern updates with cozy, welcoming appeal.

20. 2026-01-13
    listed $235,000 Active 745-char remark

    Show marketing remark (745 chars)

    Newly Renovated Ranch Home Step into this beautifully rehabbed single-family ranch offering modern comfort and timeless charm. Featuring 3 bedrooms and 1 stylishly updated bathroom, this home has been thoughtfully refreshed with quality finishes throughout. The open-concept living area is bright and inviting, perfect for entertaining or relaxing at home. Enjoy outdoor living at its best with a well-landscaped yard and apple trees designed for both beauty and ease of maintenance. The deck provides a peaceful retreat where you can unwind and take in the stunning sunset views each evening. Move-in ready and perfectly situated for all of the amenities that Farmington area offers. This home blends modern updates with cozy, welcoming appeal.

21. 2024-08-02
    soldstatus $55,000 Closed 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

22. 2024-06-20
    status Pending 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

23. 2024-05-04
    price $70,000 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

24. 2024-03-04
    price $85,000 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

25. 2024-02-28
    price $99,000 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

26. 2024-02-14
    price $109,000 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

27. 2024-01-26
    listed $118,000 Active 211-char remark

    Show marketing remark (211 chars)

    Property in a nice location with views in backyard. this place is a fixer upper and needs work. This place will not qualify for FHA financing. Located close to town. This property is being sold as is condition.

28. 2018-12-17
    soldstatus $52,000 Closed
29. 2018-11-30
    status Pending - Continue to Show
30. 2018-09-12
    status Pending
31. 2016-12-23
    price $59,900
32. 2016-08-26
    price $68,500
33. 2016-05-27
    price $74,900
34. 2015-10-30
    listed $79,500 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: $903 · $75/mo
• Projected year-2 tax: $2,009 · $167/mo
• Expected delta: +$1,106/yr (+$92/mo · 122.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $23,777
• − Mortgage interest: −$12,828
• − Property taxes: −$903
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − Depreciation: −$6,662
• Taxable loss: −$1,565
• Est. tax savings @ 24.0%: +$376
• After-tax cash flow: $2,701/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 09
• NCES district ID: 2314809
• Math proficiency: 78% ▲ 48.00%
• Reading proficiency: 82% ▲ 31.00%
• Median HH income: $40,202
• Composite: 66.71/100
• National rank: #409
• State rank: #88 of 112 in ME

Livability — Farmington

• Score: 80/100
• State rank: #18
• US rank: #1653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,368

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 28,948 people
• By 2030: 27,889 · -3.7%
• By 2040: 25,275 · -12.7%
• By 2050: 22,770 · -21.3%
• By 2075: 18,980 · -34.4%
• By 2100: 16,816 · -41.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Italian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+8.2) · D 44.8% · R 53.0% · Other 2.2%
• 2008→2024 swing: -28.5pp toward R · 2008: 20.3pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+3.9 2016: R+5.5 2012: D+18.5 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.53%
• Current HPI: 325.7666
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+188.1% since first listed

17 events — show timeline

• 2026-05-05 Price Changed $229,000 MREIS
• 2026-04-06 Price Changed $232,900 MREIS
• 2026-01-13 Listed $235,000 MREIS
• 2024-08-02 Sold (MLS) $55,000 MREIS
• 2024-06-20 Pending — MREIS
• 2024-05-04 Price Changed $70,000 MREIS
• 2024-03-04 Price Changed $85,000 MREIS
• 2024-02-28 Price Changed $99,000 MREIS
• 2024-02-14 Price Changed $109,000 MREIS
• 2024-01-26 Listed $118,000 MREIS
• 2018-12-17 Sold (MLS) $52,000 MREIS
• 2018-11-30 Pending — MREIS
• 2018-09-12 Pending — MREIS
• 2016-12-23 Price Changed $59,900 MREIS
• 2016-08-26 Price Changed $68,500 MREIS
• 2016-05-27 Price Changed $74,900 MREIS
• 2015-10-30 Listed $79,500 MREIS

Property tax history

-1.7%/yr

Latest (2025): $903 · -40.6% YoY. Source: county tax records.