112 Durham Rd · Freeport, ME 04032

$419,000

2 bd · 1.5 ba · 1,514 sqft · SingleFamily public records · 5 Days on market

Built 1790 2.50 ac lot $277/sqft · 24% below area Est $553k · 24% under ↓ 8% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Schools +8.0/10.0
• Cash flow +5.5/30.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in close proximity to Freeport, this solid 3-bedroom, 2-bath home is set on 5.5 acres, with charm, character, and inviting wide pine floors throughout. The large, level yard provides excellent outdoor space, while the attached 2-car garage includes generous storage above and a convenient breezeway connecting to the home. With a first-floor bedroom, full bath, and laundry, the layout offers the potential for one-level living, or could be a family home with 2 bedrooms and full bath upstairs. Whether you are looking for a starter home, a property with room to grow, or a home with flexible living options, this property offers many possibilities.

Key facts

• First-floor bedroom
• Level yard
• Attached garage

Tags

• WIDE PINE FLOORS
• LEVEL YARD
• ATTACHED GARAGE
• BREEZEWAY
• FIRST-FLOOR BEDROOM
• FULL BATH

Property features AI

Finance

• Other: Zoning: RR1

Exterior

• Parking: Attached 2-car garage; Gravel parking area with space for 5–10 vehicles
• Utilities: Private well water; Electric with circuit breakers
• Home design: Cape Cod / Farmhouse style single-family home; 2.5-acre lot (surveyed)
• Construction: Wood frame construction with shingle and wood siding; Poured concrete foundation; Built area: 1,514 (above-grade finished)
• Exterior features: Shingle roof; Shed(s) on the property; Level, open lot with pasture; Near turnpike/interstate and near town; Paved road access

Interior

• Kitchen: Eat-in kitchen; Electric range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on the first floor with closet; Two additional bedrooms on the second floor, each with closet
• Flooring: Wood flooring; Slate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Oil forced-air heating
• Interior features: One-floor living with a first-floor bedroom; Shower; Walk-in closet
• Laundry & utility: Washer and dryer included; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $419k.

Deal economics

• At list price, monthly cash flow is $-894 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (37.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (40.1% below list).
• Recommended offer: $251k (40.1% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 2.0% in Freeport — 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 89/100 on livability (#2 in ME, #111 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: employment D+.
• RSU 05 (suburban): math 92% / reading 94% proficiency, ranked #12 of 112 in ME (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 45 active listings in the ZIP; solid renter incomes; 1,405 units permitted in Cumberland County in 2024 (420 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Cumberland County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1790 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,846 (40.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1790 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.60% ✗
• Cap rate: 3.73%
• Cash-on-cash: -9.14%
• DSCR: 0.59
• GRM: 13.9

CMA / ARV

• ARV (median comp): $552,716
• List price: $419,000
• Delta: -9.72%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Durham Rd	0.00mi	3/2.0 (+1)	1,514 (0%)	0mo	$550,000	$363	93
123 Durham Rd	0.23mi	3/1.5 (+1)	1,448 (-4%)	20mo	$699,000	$483	61
71 Bragdon Rd	0.39mi	3/2.0 (+1)	1,456 (-4%)	19mo	$280,000	$192	53
7 Cass Ln	0.43mi	3/2.0 (+1)	1,344 (-11%)	21mo	$450,000	$335	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -32.6%
• Equity multiple: -0.06×
• Total profit: $-124,800
• Equity at exit: $62,474

10-year hold

• IRR: -38.3%
• Equity multiple: -0.55×
• Total profit: $-181,876
• Equity at exit: $36,227

Cash invested: $117,320 (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 04032

• Home prices YoY: -27.7%
• Active inventory: 45
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,508 medium
• Mortgage (P&I): −$2,197
• Tax from tax record: −$504 /mo · $6,044/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-894

Break-even live

Break-even rent $3,640

Max offer price $261,098

Occupancy floor —

Sensitivity live

Price	-10% $-657	-5% $-775	+0% $-894	+5% $-1,012	+10% $-1,131
Rent	-10% $-1,092	-5% $-993	+0% $-894	+5% $-795	+10% $-696
Rate	-1.0pp $-683	-0.5pp $-787	base $-894	+0.5pp $-1,002	+1.0pp $-1,113

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-14
   price $499,000 660-char remark

   Show marketing remark (660 chars)

   Located in close proximity to Freeport, this solid 3-bedroom, 2-bath home is set on 5.5 acres, with charm, character, and inviting wide pine floors throughout. The large, level yard provides excellent outdoor space, while the attached 2-car garage includes generous storage above and a convenient breezeway connecting to the home. With a first-floor bedroom, full bath, and laundry, the layout offers the potential for one-level living, or could be a family home with 2 bedrooms and full bath upstairs. Whether you are looking for a starter home, a property with room to grow, or a home with flexible living options, this property offers many possibilities.

2. 2026-05-14
   listed $599,000 Active 660-char remark

   Show marketing remark (660 chars)

   Located in close proximity to Freeport, this solid 3-bedroom, 2-bath home is set on 5.5 acres, with charm, character, and inviting wide pine floors throughout. The large, level yard provides excellent outdoor space, while the attached 2-car garage includes generous storage above and a convenient breezeway connecting to the home. With a first-floor bedroom, full bath, and laundry, the layout offers the potential for one-level living, or could be a family home with 2 bedrooms and full bath upstairs. Whether you are looking for a starter home, a property with room to grow, or a home with flexible living options, this property offers many possibilities.

3. 2026-05-14
   listed $419,000 Active 657-char remark

   Show marketing remark (660 chars)

   Located in close proximity to Freeport, this solid 3-bedroom, 2-bath home is set on 5.5 acres, with charm, character, and inviting wide pine floors throughout. The large, level yard provides excellent outdoor space, while the attached 2-car garage includes generous storage above and a convenient breezeway connecting to the home. With a first-floor bedroom, full bath, and laundry, the layout offers the potential for one-level living, or could be a family home with 2 bedrooms and full bath upstairs. Whether you are looking for a starter home, a property with room to grow, or a home with flexible living options, this property offers many possibilities.

ⓘ 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: $6,044 · $504/mo
• Projected year-2 tax: $6,044 · $504/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,102
• − Mortgage interest: −$23,471
• − Property taxes: −$6,044
• − Insurance: −$2,095
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − Depreciation: −$12,189
• Taxable loss: −$18,513
• Est. tax savings @ 24.0%: +$4,443
• After-tax cash flow: $-6,283/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 05
• NCES district ID: 2314789
• Math proficiency: 92% ▲ 37.00%
• Reading proficiency: 94% ▲ 24.00%
• Median HH income: $68,743
• Composite: 80.23/100
• National rank: #52
• State rank: #12 of 112 in ME

Livability — Freeport

• Score: 89/100
• State rank: #2
• US rank: #111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cumberland County · 197,083 people
• City population: 8,802
• Metro: Portland-South Portland, ME
• Population (ZIP): 8,802
• Household income: $107,326
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 277.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 313,805 people
• By 2030: 324,054 · +3.3%
• By 2040: 340,380 · +8.5%
• By 2050: 351,796 · +12.1%
• By 2075: 383,075 · +22.1%
• By 2100: 394,972 · +25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Asian 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 8% Slovak 4% Romanian 2%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 94% English-only · Chinese 2% French/Haitian/Cajun 2% German/W. Germanic 2%

Political lean MEDSL · Cumberland

• 2024 margin: Solid D (+36.3) · D 66.9% · R 30.6% · Other 2.5%
• 2008→2024 swing: +6.4pp toward D · 2008: 29.9pp · 2024: 36.3pp
• All cycles: 2024: D+36.3 2020: D+35.7 2016: D+26.4 2012: D+26.3 2008: D+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.21%
• Current HPI: 240.2598
• Rent YoY: —
• Metro: Portland-South Portland, ME
• State GDP YoY: —
• F500 in state: 0

Price history

-8.2% since first listed

6 events — show timeline

• 2026-06-12 Sold (MLS) $550,000 MREIS
• 2026-05-19 Pending — MREIS
• 2026-05-19 Pending — MREIS
• 2026-05-14 Price Changed $499,000 MREIS
• 2026-05-14 Listed $419,000 MREIS
• 2026-05-14 Listed $599,000 MREIS

Property tax history

+3.8%/yr

Latest (2025): $6,044 · +6.4% YoY. Source: county tax records.