77 Granite St · Mexico, ME 04257

$175,000

15 bd · 9.0 ba · 2,152 sqft · Other · 16 Days on market

Built 1900 4,791 sqft lot

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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 +16.7/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Appreciation +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Excellent Three-Unit Investment Opportunity! Offering approximately 2,100 sq. ft. , this multi-family property includes three separate units with a combined total of 5 bedrooms and 3 bathrooms. Recent updates feature a new propane boiler and on-demand hot water heaters. Each unit is equipped with individual laundry hookups, and the detached one-car garage adds convenient storage space. Ideally located close to shopping, dining, and everyday amenities, this property presents a fantastic opportunity for investors or first-time buyers looking to offset expenses with rental income.

Key facts

• New propane boiler
• 4,791 sq ft lot
• Garage

Tags

• NEW PROPANE BOILER
• ON-DEMAND HOT WATER HEATERS
• INDIVIDUAL LAUNDRY HOOKUPS
• DETACHED ONE-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 15-bed/9.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/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 $166k (5.1% below list).
• Recommended offer: $166k (5.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#35 in ME, #3,803 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute D+, schools D-, amenities F.
• RSU 10 (rural): math 72% / reading 79% proficiency, ranked #107 of 112 in ME (top 96%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 34 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.4%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oxford County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $65k; list at $175k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $166,104 (5.1% below list)

Questions for the listing agent

1. Built in 1900 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.65×
• Total profit: $-16,933
• Equity at exit: $30,877

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,835
• Equity at exit: $23,478

Cash invested: $49,000 (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 04257

• Home prices YoY: -0.9%
• Active inventory: 34
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$213 /mo · $2,558/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $108

Break-even live

Break-even rent $1,524

Max offer price $175,000

Occupancy floor 88%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-16
   status Pending
2. 2026-03-30
   listed $175,000 Active
3. 2025-10-26
   price $180,000
4. 2025-07-17
   price $185,000
5. 2024-11-18
   price $194,000
6. 2019-06-24
   soldstatus $65,000 Closed
7. 2019-06-12
   status Pending
8. 2019-06-08
   listed $72,900 Active

ⓘ 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: $2,558 · $213/mo
• Projected year-2 tax: $2,558 · $213/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: $19,932
• − Mortgage interest: −$9,803
• − Property taxes: −$2,558
• − Insurance: −$875
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$5,091
• Taxable loss: −$1,583
• Est. tax savings @ 24.0%: +$380
• After-tax cash flow: $1,681/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 10
• NCES district ID: 2314795
• Math proficiency: 72% ▲ 50.00%
• Reading proficiency: 79% ▲ 34.00%
• Median HH income: $37,647
• Composite: 62.72/100
• National rank: #671
• State rank: #107 of 112 in ME

Livability — Mexico

• Score: 76/100
• State rank: #35
• US rank: #3803

Category grades

Amenities F Commute D+ 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: Mexico, ME
• Population (ZIP): 2,772

Population outlook (Oxford County) Hauer SSP2

• Today (2025): 55,853 people
• By 2030: 54,190 · -3.0%
• By 2040: 49,484 · -11.4%
• By 2050: 43,958 · -21.3%
• By 2075: 32,308 · -42.2%
• By 2100: 21,858 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 22% Italian 3% Slovak 3%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2%

Political lean MEDSL · Oxford

• 2024 margin: R (+12.9) · D 42.7% · R 55.6% · Other 1.7%
• 2008→2024 swing: -28.9pp toward R · 2008: 16.0pp · 2024: -12.9pp
• All cycles: 2024: R+12.9 2020: R+8.8 2016: R+13.0 2012: D+14.9 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.39%
• Current HPI: 263.5537
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+140.1% since first listed

8 events — show timeline

• 2026-04-16 Pending — MREIS
• 2026-03-30 Listed $175,000 MREIS
• 2025-10-26 Price Changed $180,000 MREIS
• 2025-07-17 Price Changed $185,000 MREIS
• 2024-11-18 Price Changed $194,000 MREIS
• 2019-06-24 Sold (MLS) $65,000 MREIS
• 2019-06-12 Pending — MREIS
• 2019-06-08 Listed $72,900 MREIS

Property tax history

+1.2%/yr

Latest (2024): $2,558 · -0.7% YoY. Source: county tax records.