16 Heath St · Oakland, ME 04963

$150,000

3 bd · 1.0 ba · 1,434 sqft · SingleFamily public records · 56 Days on market

Built 1940 0.69 ac lot $105/sqft · 53% below area Est $213k · 30% under ↓ 50% since listing

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Why this score? — see what drove the A 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 +27.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.6/10.0
• Schools +7.5/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This in town Oakland home is in a convenient location and just in need of some TLC. Within walking distance to downtown Oakland and the schools. Double lot with plenty of outside space.

Key facts

• Double lot
• Convenient location
• 0.69 acre lot

Tags

• CONVENIENT LOCATION
• WALKING DISTANCE TO DOWNTOWN
• DOUBLE LOT
• PLENTY OF OUTSIDE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 1.8% in Oakland — 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 75/100 on livability (#37 in ME, #3,871 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• RSU 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 72 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1940 — 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. 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: 1.19% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.66%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $213,323
• List price: $150,000
• Delta: -29.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 Summer St	0.59mi	3/1.0	1,372 (-4%)	2mo	$200,000	$146	64
27 Water St	0.29mi	3/1.5	1,277 (-11%)	8mo	$199,500	$156	60
103 S Alpine St	0.51mi	3/1.5	1,348 (-6%)	8mo	$150,000	$111	58
51 Old Belgrade Ave	0.70mi	3/1.5	1,406 (-2%)	11mo	$240,000	$171	53
32 Selden Ln	0.73mi	3/2.0	1,344 (-6%)	4mo	$358,000	$266	48
9 Bacon St	0.47mi	2/1.0 (-1)	1,502 (+5%)	22mo	$290,000	$193	47
155 Oak St	0.69mi	2/2.0 (-1)	1,480 (+3%)	10mo	$262,000	$177	45
105 S Alpine St	0.52mi	2/1.5 (-1)	1,242 (-13%)	5mo	$190,000	$153	43

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 3.62×
• Total profit: $109,885
• Equity at exit: $135,132

10-year hold

• IRR: 28.9%
• Equity multiple: 8.18×
• Total profit: $301,371
• Equity at exit: $291,417

Cash invested: $42,000 (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 04963

• Home prices YoY: 25.1%
• Active inventory: 72
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,778 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$113 /mo · $1,353/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $443

Break-even live

Break-even rent $1,218

Max offer price $150,000

Occupancy floor 70%

Sensitivity live

Price	-10% $528	-5% $485	+0% $443	+5% $400	+10% $358
Rent	-10% $302	-5% $373	+0% $443	+5% $513	+10% $583
Rate	-1.0pp $518	-0.5pp $481	base $443	+0.5pp $404	+1.0pp $365

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-06
   historical Active Under Contract 185-char remark

   Show marketing remark (185 chars)

   This in town Oakland home is in a convenient location and just in need of some TLC. Within walking distance to downtown Oakland and the schools. Double lot with plenty of outside space.

2. 2026-04-01
   listed $150,000 Active 185-char remark

   Show marketing remark (185 chars)

   This in town Oakland home is in a convenient location and just in need of some TLC. Within walking distance to downtown Oakland and the schools. Double lot with plenty of outside space.

3. 2025-04-25
   price $299,000

ⓘ 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: $1,353 · $113/mo
• Projected year-2 tax: $1,696 · $141/mo
• Expected delta: +$344/yr (+$29/mo · 25.4%)

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

Taxation est. · year 1

• Rental income: $21,339
• − Mortgage interest: −$8,402
• − Property taxes: −$1,353
• − Insurance: −$750
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$4,364
• Taxable income: $3,055
• Est. tax owed @ 24.0%: −$733
• After-tax cash flow: $4,582/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 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 of 112 in ME

Livability — Oakland

• Score: 75/100
• State rank: #37
• US rank: #3871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, ME
• Population (ZIP): 7,375

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Asian 1%
• Common ancestry: Lithuanian 14% Slovak 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 76.94%
• Current HPI: 383.7687
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-49.8% since first listed

3 events — show timeline

• 2026-05-06 Contingent — MREIS
• 2026-04-01 Listed $150,000 MREIS
• 2025-04-25 Price Changed $299,000 MREIS

Property tax history

+3.8%/yr

Latest (2025): $1,353 · +6.9% YoY. Source: county tax records.