72 Smithfield Rd · Oakland, ME 04917

$570,000

3 bd · 2.0 ba · 2,768 sqft · MultiFamily public records · 6 Days on market

Built 1964 5.20 ac lot $206/sqft · at area comps Est $508k · 12% over

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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 +17.5/30.0
• Appreciation +10.0/10.0
• Schools +7.5/10.0
• DSCR +5.4/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0

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

If you're looking for tranquility and privacy, this 7 room 3 bedroom contemporary may be waiting for you! Lovely living room with fireplace. Beautiful great room with lots of natural light and wood stove. 2 full baths, gorgeous landscaping, 1 car attached & 2 car detached garages and storage shed all on little over 5 acres. Priced way below assessment!

Key facts

• Spacious great room
• 50-amp service
• Dedicated rv pad

Tags

• BELGRADE LAKES REGION
• PUBLIC ACCESS POINTS
• SPACIOUS GREAT ROOM
• THOUGHTFULLY DESIGNED KITCHEN
• DEDICATED RV PAD
• 50-AMP SERVICE

Property features AI

Exterior

• Parking: On-site parking for 5–10 vehicles; Attached 3-car garage
• Utilities: Utilities on; Circuit breakers; Generator hookup; Private sewer / septic tank
• Home design: Contemporary single-family home; Multi-level
• Construction: Metal roof
• Exterior features: Deck; Patio; Shed(s); Trees/woods view; Private well water

Interior

• Kitchen: Kitchen on the first level
• Bedrooms: Bedroom 1 on the first level with closet; Bedroom 2 on the first level with closet
• Flooring: Bamboo flooring; Laminate flooring; Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heat pump for heating and cooling; Wood stove
• Interior features: Seven total rooms; Fireplace (1); Unfurnished; Basement with bulkhead and interior entry
• Laundry & utility: Interior utility access in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $570k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/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 $526k (7.6% below list).
• Recommended offer: $526k (7.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: 43 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 $61k of equity ($4k loan paydown + $57k 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 $160k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$98k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y 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 $215k; list at $570k implies a 165% gain — meaningful room to come down on a strong offer.

Recommended offer $526,500 (7.6% below list)

Questions for the listing agent

1. Built in 1964 — 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. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 9.0

CMA / ARV

• ARV (median comp): $508,156
• List price: $570,000
• Delta: 12.17%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.6%
• Equity multiple: 3.12×
• Total profit: $337,977
• Equity at exit: $513,501

10-year hold

• IRR: 23.3%
• Equity multiple: 7.10×
• Total profit: $973,486
• Equity at exit: $1,107,385

Cash invested: $159,600 (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 04917

• Home prices YoY: 23.1%
• Active inventory: 43
• Price-to-rent: 27.1×

Monthly cashflow live

• Estimated rent: $5,265 medium
• Mortgage (P&I): −$2,989
• Tax from tax record: −$500 /mo · $5,994/yr
• Insurance: −$238
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,106
• Net cashflow: $433

Break-even live

Break-even rent $4,717

Max offer price $570,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$5,265
Total (3 units)			$5,265

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: $142,500
• Closing costs: $17,100
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-04
   status Pending 1086-char remark
2. 2026-04-28
   listed $570,000 Active 1086-char remark
3. 2015-12-30
   soldstatus $215,000 Sold 360-char remark

   Show marketing remark (360 chars)

   If you're looking for tranquility and privacy, this 7 room 3 bedroom contemporary may be waiting for you! Lovely living room with fireplace. Beautiful great room with lots of natural light and wood stove. 2 full baths, gorgeous landscaping, 1 car attached & 2 car detached garages and storage shed all on little over 5 acres. Priced way below assessment!

4. 2015-10-20
   historical 360-char remark

   Show marketing remark (360 chars)

   If you're looking for tranquility and privacy, this 7 room 3 bedroom contemporary may be waiting for you! Lovely living room with fireplace. Beautiful great room with lots of natural light and wood stove. 2 full baths, gorgeous landscaping, 1 car attached & 2 car detached garages and storage shed all on little over 5 acres. Priced way below assessment!

5. 2015-09-04
   price $235,000 360-char remark

   Show marketing remark (360 chars)

   If you're looking for tranquility and privacy, this 7 room 3 bedroom contemporary may be waiting for you! Lovely living room with fireplace. Beautiful great room with lots of natural light and wood stove. 2 full baths, gorgeous landscaping, 1 car attached & 2 car detached garages and storage shed all on little over 5 acres. Priced way below assessment!

6. 2015-06-15
   listed $245,000 Active 360-char remark

   Show marketing remark (360 chars)

   If you're looking for tranquility and privacy, this 7 room 3 bedroom contemporary may be waiting for you! Lovely living room with fireplace. Beautiful great room with lots of natural light and wood stove. 2 full baths, gorgeous landscaping, 1 car attached & 2 car detached garages and storage shed all on little over 5 acres. Priced way below assessment!

7. 2013-10-02
   listed $290,000

ⓘ 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: $5,994 · $500/mo
• Projected year-2 tax: $6,873 · $573/mo
• Expected delta: +$879/yr (+$73/mo · 14.7%)

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

Taxation est. · year 1

• Rental income: $63,180
• − Mortgage interest: −$31,929
• − Property taxes: −$5,994
• − Insurance: −$2,850
• − Repairs & maintenance: −$5,054
• − Management: −$5,054
• − Depreciation: −$16,582
• Taxable loss: −$4,283
• Est. tax savings @ 24.0%: +$1,028
• After-tax cash flow: $6,227/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

• Population (ZIP): 3,298

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 (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 16% Slovak 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 6% 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: ▲ 61.97%
• Current HPI: 330.4118
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+93.2% since first listed

10 events — show timeline

• 2026-05-04 Pending — MREIS
• 2026-04-28 Listed $570,000 MREIS
• 2015-12-30 Sold (MLS) $215,000 MREIS
• 2015-10-20 Delisted — MREIS
• 2015-09-04 Price Changed $235,000 MREIS
• 2015-06-15 Listed $245,000 MREIS
• 2015-06-01 Delisted — MREIS
• 2015-03-05 Listed $255,000 MREIS
• 2013-10-02 Listed $290,000 MREIS
• 2012-10-09 Listed $295,000 MREIS

Property tax history

+4.6%/yr

Latest (2025): $5,994 · +11.6% YoY. Source: county tax records.