33 Lakeview St · Lincoln, ME 04457

$99,900

3 bd · 2.0 ba · 1,100 sqft · MultiFamily · 45 Days on market

Built 1950 0.42 ac lot $91/sqft · 45% below area Est $183k · 45% 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.9/10.0
• 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

Set on a 0.42-acre lot along a quiet dead-end street in Lincoln, just a short walk from Mattanawcook Lake, this 3-bedroom, 2-bath home offers a solid opportunity for someone ready to take on a project and build equity. With the public beach, middle school, and downtown all within walking distance, the location adds real value to what this property can become. The home features a practical first-floor layout with a kitchen, dining room, and living room, along with a full bathroom that includes first-floor laundry. Upstairs, you'll find three bedrooms and a second full bath, complete with a classic clawfoot tub that adds a bit of character. A full basement and forced hot air heating system pr

Key facts

• 0.42 acre lot
• Parking
• Built 1950

Property features AI

Exterior

• Parking: Gravel parking with space for 1–4 vehicles
• Utilities: Public water; Public sewer; Electric service (circuit breakers)
• Home design: Single family residence; Multi-level layout; Built in 1950
• Construction: Vinyl siding with wood frame construction; Shingle roof; Concrete perimeter foundation
• Exterior features: Level lot; Intown location; Neighborhood setting; Paved road access

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms (both on the second level)
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Electric water heater; Circuit breaker electrical
• Interior features: Six total rooms; Full interior basement
• Laundry & utility: Main-level / first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.6% 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: 70 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 $691 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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?
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: 1.19% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 7.0

CMA / ARV

• ARV (median comp): $183,142
• List price: $99,900
• Delta: -45.45%
• 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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-4,703
• Equity at exit: $14,895

10-year hold

• IRR: 5.2%
• Equity multiple: 1.39×
• Total profit: $10,862
• Equity at exit: $8,638

Cash invested: $27,972 (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: 70
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,189 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$194 /mo · $2,333/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $179

Break-even live

Break-even rent $962

Max offer price $99,900

Occupancy floor 80%

Sensitivity live

Price	-10% $236	-5% $208	+0% $179	+5% $151	+10% $123
Rent	-10% $85	-5% $132	+0% $179	+5% $226	+10% $273
Rate	-1.0pp $230	-0.5pp $205	base $179	+0.5pp $153	+1.0pp $127

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $99,900 Active 45 DOM
2. 2026-06-18
   days on market $99,900 Active 43 DOM
3. 2026-06-17
   days on market $99,900 Active 42 DOM
4. 2026-06-16
   days on market $99,900 Active 41 DOM
5. 2026-06-15
   days on market $99,900 Active 40 DOM
6. 2026-06-13
   days on market $99,900 Active 38 DOM
7. 2026-06-12
   days on market $99,900 Active 37 DOM
8. 2026-06-09
   days on market $99,900 Active 34 DOM
9. 2026-06-08
   days on market $99,900 Active 33 DOM
10. 2026-06-07
    days on market $99,900 Active 32 DOM
11. 2026-06-07
    days on market $99,900 Active 31 DOM
12. 2026-06-04
    days on market $99,900 Active 28 DOM
13. 2026-06-02
    days on market $99,900 Active 27 DOM
14. 2026-06-01
    days on market $99,900 Active 26 DOM
15. 2026-05-31
    days on market $99,900 Active 25 DOM
16. 2026-05-31
    days on market $99,900 Active 24 DOM
17. 2026-05-06
    listed $99,900 Active 1337-char remark

ⓘ 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: $2,333 · $194/mo
• Projected year-2 tax: $2,333 · $194/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 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 6/10 Major 27% 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: $14,268
• − Mortgage interest: −$5,596
• − Property taxes: −$2,333
• − Insurance: −$500
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$2,906
• Taxable income: $650
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $1,996/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

+17.5% since first listed

2 events — show timeline

• 2026-05-06 Listed $99,900 MREIS
• 2009-09-24 Listed $85,000 MREIS

Property tax history

+4.9%/yr

Latest (2025): $2,333 · +9.5% YoY. Source: county tax records.