1648 New Sharon Rd · Starks, ME 04911

$75,000

3 bd · 1.0 ba · 1,180 sqft · MultiFamily · 150 Days on market

Built 1980 Poor condition 1.00 ac lot $64/sqft · 55% below area ↓ 5% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• Schools +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

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

This 3 bedroom 1 bathroom home sits well off the road on a 1.004 acre surveyed lot. An unnamed stream borders one side of the property and Lemon Stream is just across the road.

Key facts

• Unnamed stream
• 1 acre surveyed lot
• 1 acre lot

Tags

• 1 ACRE SURVEYED LOT
• UNNAMED STREAM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $75k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($519 loan paydown + $2k appreciation (2.4% 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 (2.4% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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 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: 1.65% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.89%
• DSCR: 2.29
• GRM: 5.0

CMA / ARV

• ARV (median comp): $166,848
• List price: $75,000
• Delta: -55.05%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

2.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.8%
• Equity multiple: 2.86×
• Total profit: $39,007
• Equity at exit: $31,368

10-year hold

• IRR: 34.6%
• Equity multiple: 5.60×
• Total profit: $96,558
• Equity at exit: $46,585

Cash invested: $21,000 (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 04911

• Home prices YoY: 1.1%
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$48 /mo · $580/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $505

Break-even live

Break-even rent $599

Max offer price $75,000

Occupancy floor 54%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $75,000 Active 150 DOM
2. 2026-06-17
   days on market $75,000 Active 149 DOM
3. 2026-06-16
   days on market $75,000 Active 148 DOM
4. 2026-06-15
   days on market $75,000 Active 147 DOM
5. 2026-06-13
   days on market $75,000 Active 145 DOM
6. 2026-06-12
   days on market $75,000 Active 144 DOM
7. 2026-06-09
   days on market $75,000 Active 141 DOM
8. 2026-06-08
   days on market $75,000 Active 140 DOM
9. 2026-06-07
   days on market $75,000 Active 139 DOM
10. 2026-06-07
    days on market $75,000 Active 138 DOM
11. 2026-06-04
    days on market $75,000 Active 135 DOM
12. 2026-06-02
    days on market $75,000 Active 134 DOM
13. 2026-06-01
    days on market $75,000 Active 133 DOM
14. 2026-05-31
    days on market $75,000 Active 132 DOM
15. 2026-05-31
    days on market $75,000 Active 131 DOM
16. 2026-04-14
    price $75,000 176-char remark

    Show marketing remark (176 chars)

    This 3 bedroom 1 bathroom home sits well off the road on a 1.004 acre surveyed lot. An unnamed stream borders one side of the property and Lemon Stream is just across the road.

17. 2026-01-19
    listed $79,000 Active 176-char remark

    Show marketing remark (176 chars)

    This 3 bedroom 1 bathroom home sits well off the road on a 1.004 acre surveyed lot. An unnamed stream borders one side of the property and Lemon Stream is just across the road.

ⓘ 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: $580 · $48/mo
• Projected year-2 tax: $800 · $67/mo
• Expected delta: +$220/yr (+$18/mo · 37.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $14,862
• − Mortgage interest: −$4,201
• − Property taxes: −$580
• − Insurance: −$375
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$2,182
• Taxable income: $5,146
• Est. tax owed @ 24.0%: −$1,235
• After-tax cash flow: $4,831/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This multi-family home requires extensive repairs and maintenance to improve its condition and increase its value.

Repairs flagged

• Major roof — Missing shingles and debris
• Major exterior siding — Weathered and damaged
• Major HVAC/mechanicals — Cluttered and possibly inoperable

Value-add opportunities

• Both Clean and declutter the interior — Improves aesthetics and functionality
• Both Replace worn flooring — Enhances comfort and value
• Both Repair and replace damaged roof — Ensures structural integrity and safety
• Both Replace damaged exterior siding — Enhances curb appeal and value
• Both Replace HVAC/mechanicals — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Missing shingles and debris	Major	$15,000–50,000
exterior siding · Weathered and damaged	Major	$15,000–50,000
HVAC/mechanicals · Cluttered and possibly inoperable	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Clean and declutter the interior — Improves aesthetics and functionality ↑
• Both Replace worn flooring — Enhances comfort and value ↑
• Both Repair and replace damaged roof — Ensures structural integrity and safety ↑
• Both Replace damaged exterior siding — Enhances curb appeal and value ↑
• Both Replace HVAC/mechanicals — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Starks

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,787

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 1%
• Common ancestry: Lithuanian 10% Slovak 6% Romanian 3%
• Foreign-born: 1% · China

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: ▲ 2.44%
• Current HPI: 227.5178
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.1% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $75,000 MREIS
• 2026-01-19 Listed $79,000 MREIS

Property tax history

+1.4%/yr

Latest (2024): $580 · +3.2% YoY. Source: county tax records.