19 Perry St · Lincoln, ME 04457

$99,000

4 bd · 1.5 ba · 1,280 sqft · MultiFamily · 63 Days on market

Built 1940 5,227 sqft lot $77/sqft · 41% below area Est $167k · 41% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Schools +6.8/10.0
• Livability +3.6/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Filled with Endless Potential in Lincoln! Welcome to 19 Perry St, Lincoln, a spacious property bursting with opportunity for the right person willing to roll up their sleeves and bring this home back to life. This 4 bedroom, 2 bathroom home provides generous living space and solid bones, making it an ideal candidate for renovation, investment, or creating your dream home from the ground up. The property features a 2 car garage with an in-law apartment above, providing excellent potential, guest space, or possible rental income. While the home will require significant updates, including a new roof, the structure and layout offer a strong foundation to build value and equity. Set in a convenient in town location, this property is perfect for contractors, or someone looking to build sweat equity and customize a home to their vision. With the right improvements, this diamond in the rough could truly shine.

Key facts

• In law apartment
• 2 car garage
• 5,227 sq ft lot

Tags

• IN LAW APARTMENT
• 2 CAR GARAGE
• MULTI GENERATIONAL LIVING
• INVESTMENT OPPORTUNITY
• CONVENIENT IN TOWN LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.5% in Lincoln — 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 72/100 on livability (#56 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools F, amenities F, commute F.
• RSU 67 (rural): math 79% / reading 85% proficiency, ranked #83 of 112 in ME (top 74%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 69 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Penobscot County population projected at -17% 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.42% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• GRM: 5.9

CMA / ARV

• ARV (median comp): $166,895
• List price: $99,000
• Delta: -40.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.5%
• Equity multiple: 1.54×
• Total profit: $14,950
• Equity at exit: $14,761

10-year hold

• IRR: 22.3%
• Equity multiple: 2.91×
• Total profit: $52,876
• Equity at exit: $8,560

Cash invested: $27,720 (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 04457

• Home prices YoY: -7.1%
• Active inventory: 69
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$60 /mo · $720/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $487

Break-even live

Break-even rent $785

Max offer price $99,000

Occupancy floor 60%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $99,000 Active 63 DOM
2. 2026-06-17
   days on market $99,000 Active 62 DOM
3. 2026-06-16
   days on market $99,000 Active 61 DOM
4. 2026-06-15
   days on market $99,000 Active 60 DOM
5. 2026-06-13
   days on market $99,000 Active 58 DOM
6. 2026-06-12
   days on market $99,000 Active 57 DOM
7. 2026-06-09
   days on market $99,000 Active 54 DOM
8. 2026-06-08
   days on market $99,000 Active 53 DOM
9. 2026-06-07
   days on market $99,000 Active 52 DOM
10. 2026-06-07
    days on market $99,000 Active 51 DOM
11. 2026-06-04
    days on market $99,000 Active 48 DOM
12. 2026-06-02
    days on market $99,000 Active 47 DOM
13. 2026-06-01
    days on market $99,000 Active 46 DOM
14. 2026-05-31
    days on market $99,000 Active 45 DOM
15. 2026-05-31
    days on market $99,000 Active 44 DOM
16. 2026-04-16
    listed $99,000 Active 915-char remark

    Show marketing remark (915 chars)

    Filled with Endless Potential in Lincoln! Welcome to 19 Perry St, Lincoln, a spacious property bursting with opportunity for the right person willing to roll up their sleeves and bring this home back to life. This 4 bedroom, 2 bathroom home provides generous living space and solid bones, making it an ideal candidate for renovation, investment, or creating your dream home from the ground up. The property features a 2 car garage with an in-law apartment above, providing excellent potential, guest space, or possible rental income. While the home will require significant updates, including a new roof, the structure and layout offer a strong foundation to build value and equity. Set in a convenient in town location, this property is perfect for contractors, or someone looking to build sweat equity and customize a home to their vision. With the right improvements, this diamond in the rough could truly shine.

ⓘ 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: $720 · $60/mo
• Projected year-2 tax: $1,033 · $86/mo
• Expected delta: +$313/yr (+$26/mo · 43.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $16,820
• − Mortgage interest: −$5,546
• − Property taxes: −$720
• − Insurance: −$495
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$2,880
• Taxable income: $4,488
• Est. tax owed @ 24.0%: −$1,077
• After-tax cash flow: $4,766/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 67
• NCES district ID: 2314777
• Math proficiency: 79% ▲ 50.00%
• Reading proficiency: 85% ▲ 38.00%
• Median HH income: $36,167
• Composite: 67.98/100
• National rank: #357
• State rank: #83 of 112 in ME

Livability — Lincoln

• Score: 72/100
• State rank: #56
• US rank: #5896

Category grades

Amenities F Commute F 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

• Census place: Lincoln, ME
• Population (ZIP): 5,755

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 (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 12% Russian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Other Indo-European 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: ▼ -19.76%
• Current HPI: 257.4607
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-16 Listed $99,000 MREIS

Property tax history

-3.4%/yr

Latest (2025): $720 · -59.1% YoY. Source: county tax records.