71 Pittsfield Ave · Hartland, ME 04943

$35,000

5 bd · 2.0 ba · — sqft · MultiFamily · 168 Days on market

Built 1870 0.48 ac lot ↓ 30% since listing

---

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 +15.0/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Own a piece of history. This Victorian house, built in 1870, was the Paymasters house for the American Woolen Company back in the late 19th and early 20th centuries. The mill stood on the banks of the Sebasticook River in town. With a solid granite foundation, this historic 3-4 bedroom, 2 full-bath house experienced a fire in one bedroom. The home is approximately 1800 square feet with a huge kitchen with original cabinets and room for an island, full formal dining room, large living room, office, laundry and full bath on the first level. The second floor has 3 bedrooms, a huge bonus room which can be a 4th bedroom and a full bathroom. This two-story house and three-story barn will require a lot of TLC whether you fix it up to its former glory or tear it down and start over, the house sits on top of a hill on . 46 acres of land. The front has a large enclosed front porch, and the yard has lots of flowers and plants including white and purple lilac bushes on the side and in the back, there is a field full of rare milk weed where the Monarch butterflies hatch every year to fly to Mexico. A short drive to I-95. Walking distance to downtown and nearby Sebasticook Lake. There is an ATV trail that runs directly behind the property which is a good walking trail too. Across the street is the beautiful Sebasticook River. There are two bald eagles nesting in the pine trees by the river. No matter what your plans for this property, it is a good investment to either restore, rebuild or it tear down and sell the granite.

Key facts

• 0.48 acre lot
• Garage
• Built 1870

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 124.9% vs local median 5.9% in Hartland — 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 61/100 on livability (#120 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 27 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($242 loan paydown + $2k appreciation (6.7% local appreciation)).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 13.71% ✓
• Cap rate: 124.88%
• Cash-on-cash: 423.53%
• DSCR: 19.84
• GRM: 0.6

CMA / ARV

• ARV (median comp): $190,225
• List price: $35,000
• Delta: -81.60%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Commercial St	0.41mi	5/2.0	2,484	2mo	$212,000	$85	67

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

Projected returns pro-forma

6.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 24.68×
• Total profit: $232,026
• Equity at exit: $23,599

10-year hold

• IRR: —
• Equity multiple: 53.03×
• Total profit: $509,929
• Equity at exit: $44,245

Cash invested: $9,800 (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 04943

• Home prices YoY: 3.0%
• Active inventory: 27
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $4,800 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $3,459

Break-even live

Break-even rent $422

Max offer price $35,000

Occupancy floor 23%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$4,800
Total (3 units)			$4,800

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-18
   price $35,000 1533-char remark

   Show marketing remark (1533 chars)

   Own a piece of history. This Victorian house, built in 1870, was the Paymasters house for the American Woolen Company back in the late 19th and early 20th centuries. The mill stood on the banks of the Sebasticook River in town. With a solid granite foundation, this historic 3-4 bedroom, 2 full-bath house experienced a fire in one bedroom. The home is approximately 1800 square feet with a huge kitchen with original cabinets and room for an island, full formal dining room, large living room, office, laundry and full bath on the first level. The second floor has 3 bedrooms, a huge bonus room which can be a 4th bedroom and a full bathroom. This two-story house and three-story barn will require a lot of TLC whether you fix it up to its former glory or tear it down and start over, the house sits on top of a hill on . 46 acres of land. The front has a large enclosed front porch, and the yard has lots of flowers and plants including white and purple lilac bushes on the side and in the back, there is a field full of rare milk weed where the Monarch butterflies hatch every year to fly to Mexico. A short drive to I-95. Walking distance to downtown and nearby Sebasticook Lake. There is an ATV trail that runs directly behind the property which is a good walking trail too. Across the street is the beautiful Sebasticook River. There are two bald eagles nesting in the pine trees by the river. No matter what your plans for this property, it is a good investment to either restore, rebuild or it tear down and sell the granite.

2. 2026-01-28
   status Active 1533-char remark

   Show marketing remark (1533 chars)

   Own a piece of history. This Victorian house, built in 1870, was the Paymasters house for the American Woolen Company back in the late 19th and early 20th centuries. The mill stood on the banks of the Sebasticook River in town. With a solid granite foundation, this historic 3-4 bedroom, 2 full-bath house experienced a fire in one bedroom. The home is approximately 1800 square feet with a huge kitchen with original cabinets and room for an island, full formal dining room, large living room, office, laundry and full bath on the first level. The second floor has 3 bedrooms, a huge bonus room which can be a 4th bedroom and a full bathroom. This two-story house and three-story barn will require a lot of TLC whether you fix it up to its former glory or tear it down and start over, the house sits on top of a hill on . 46 acres of land. The front has a large enclosed front porch, and the yard has lots of flowers and plants including white and purple lilac bushes on the side and in the back, there is a field full of rare milk weed where the Monarch butterflies hatch every year to fly to Mexico. A short drive to I-95. Walking distance to downtown and nearby Sebasticook Lake. There is an ATV trail that runs directly behind the property which is a good walking trail too. Across the street is the beautiful Sebasticook River. There are two bald eagles nesting in the pine trees by the river. No matter what your plans for this property, it is a good investment to either restore, rebuild or it tear down and sell the granite.

3. 2025-12-18
   historical 1533-char remark

   Show marketing remark (1533 chars)

   Own a piece of history. This Victorian house, built in 1870, was the Paymasters house for the American Woolen Company back in the late 19th and early 20th centuries. The mill stood on the banks of the Sebasticook River in town. With a solid granite foundation, this historic 3-4 bedroom, 2 full-bath house experienced a fire in one bedroom. The home is approximately 1800 square feet with a huge kitchen with original cabinets and room for an island, full formal dining room, large living room, office, laundry and full bath on the first level. The second floor has 3 bedrooms, a huge bonus room which can be a 4th bedroom and a full bathroom. This two-story house and three-story barn will require a lot of TLC whether you fix it up to its former glory or tear it down and start over, the house sits on top of a hill on . 46 acres of land. The front has a large enclosed front porch, and the yard has lots of flowers and plants including white and purple lilac bushes on the side and in the back, there is a field full of rare milk weed where the Monarch butterflies hatch every year to fly to Mexico. A short drive to I-95. Walking distance to downtown and nearby Sebasticook Lake. There is an ATV trail that runs directly behind the property which is a good walking trail too. Across the street is the beautiful Sebasticook River. There are two bald eagles nesting in the pine trees by the river. No matter what your plans for this property, it is a good investment to either restore, rebuild or it tear down and sell the granite.

4. 2025-11-17
   price $38,000 1533-char remark

   Show marketing remark (1533 chars)

   Own a piece of history. This Victorian house, built in 1870, was the Paymasters house for the American Woolen Company back in the late 19th and early 20th centuries. The mill stood on the banks of the Sebasticook River in town. With a solid granite foundation, this historic 3-4 bedroom, 2 full-bath house experienced a fire in one bedroom. The home is approximately 1800 square feet with a huge kitchen with original cabinets and room for an island, full formal dining room, large living room, office, laundry and full bath on the first level. The second floor has 3 bedrooms, a huge bonus room which can be a 4th bedroom and a full bathroom. This two-story house and three-story barn will require a lot of TLC whether you fix it up to its former glory or tear it down and start over, the house sits on top of a hill on . 46 acres of land. The front has a large enclosed front porch, and the yard has lots of flowers and plants including white and purple lilac bushes on the side and in the back, there is a field full of rare milk weed where the Monarch butterflies hatch every year to fly to Mexico. A short drive to I-95. Walking distance to downtown and nearby Sebasticook Lake. There is an ATV trail that runs directly behind the property which is a good walking trail too. Across the street is the beautiful Sebasticook River. There are two bald eagles nesting in the pine trees by the river. No matter what your plans for this property, it is a good investment to either restore, rebuild or it tear down and sell the granite.

5. 2025-10-29
   listed $50,000 Active 1533-char remark

   Show marketing remark (1533 chars)

   Own a piece of history. This Victorian house, built in 1870, was the Paymasters house for the American Woolen Company back in the late 19th and early 20th centuries. The mill stood on the banks of the Sebasticook River in town. With a solid granite foundation, this historic 3-4 bedroom, 2 full-bath house experienced a fire in one bedroom. The home is approximately 1800 square feet with a huge kitchen with original cabinets and room for an island, full formal dining room, large living room, office, laundry and full bath on the first level. The second floor has 3 bedrooms, a huge bonus room which can be a 4th bedroom and a full bathroom. This two-story house and three-story barn will require a lot of TLC whether you fix it up to its former glory or tear it down and start over, the house sits on top of a hill on . 46 acres of land. The front has a large enclosed front porch, and the yard has lots of flowers and plants including white and purple lilac bushes on the side and in the back, there is a field full of rare milk weed where the Monarch butterflies hatch every year to fly to Mexico. A short drive to I-95. Walking distance to downtown and nearby Sebasticook Lake. There is an ATV trail that runs directly behind the property which is a good walking trail too. Across the street is the beautiful Sebasticook River. There are two bald eagles nesting in the pine trees by the river. No matter what your plans for this property, it is a good investment to either restore, rebuild or it tear down and sell the granite.

ⓘ 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: $1,621 · $135/mo
• Projected year-2 tax: $1,621 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $57,600
• − Mortgage interest: −$1,961
• − Property taxes: −$1,621
• − Insurance: −$175
• − Repairs & maintenance: −$4,608
• − Management: −$4,608
• − Depreciation: −$1,018
• Taxable income: $43,609
• Est. tax owed @ 24.0%: −$10,466
• After-tax cash flow: $31,039/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Hartland

• Score: 61/100
• State rank: #120
• US rank: #18210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartland, ME
• Population (ZIP): 1,681

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 48,335 people
• By 2030: 46,268 · -4.3%
• By 2040: 41,276 · -14.6%
• By 2050: 36,137 · -25.2%
• By 2075: 26,408 · -45.4%
• By 2100: 18,836 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 8% Portuguese 7% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Somerset

• 2024 margin: Strong R (+27.1) · D 35.6% · R 62.7% · Other 1.7%
• 2008→2024 swing: -32.8pp toward R · 2008: 5.7pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+23.4 2016: R+22.8 2012: D+1.7 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.71%
• Current HPI: 230.2114
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-30.0% since first listed

5 events — show timeline

• 2026-03-18 Price Changed $35,000 MREIS
• 2026-01-28 Relisted — MREIS
• 2025-12-18 Delisted — MREIS
• 2025-11-17 Price Changed $38,000 MREIS
• 2025-10-29 Listed $50,000 MREIS

Property tax history

+1.5%/yr

Latest (2025): $1,621 · +7.2% YoY. Source: county tax records.