527 Canaan Rd · Hartland, ME 04943

$45,000

2 bd · 1.0 ba · 1,152 sqft · MultiFamily · 78 Days on market

3.00 ac lot $39/sqft · 69% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 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

Hartland - Rural ranch set on 3± acres with multiple outbuildings and plenty of potential. This property experienced a fire and will require renovation, offering an opportunity for investors or buyers ready to restore. Being sold as-is, the home is conveniently located between Bangor and Waterville. The seller had planned to remodel but plans have since changed.

Key facts

• Rural ranch
• Conveniently located
• 3 acre lot

Tags

• RURAL RANCH
• MULTIPLE OUTBUILDINGS
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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 ($311 loan paydown + $3k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
6. 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.
7. 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.
8. 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: 2.98% ✓
• Cap rate: 24.02%
• Cash-on-cash: 63.31%
• DSCR: 3.82
• GRM: 2.8

CMA / ARV

• ARV (median comp): $145,847
• List price: $45,000
• Delta: -69.15%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 71.8%
• Equity multiple: 5.55×
• Total profit: $57,332
• Equity at exit: $30,341

10-year hold

• IRR: 68.4%
• Equity multiple: 11.73×
• Total profit: $135,208
• Equity at exit: $56,887

Cash invested: $12,600 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$140 /mo · $1,685/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $665

Break-even live

Break-even rent $500

Max offer price $45,000

Occupancy floor 45%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $45,000 Active 78 DOM
2. 2026-06-17
   days on market $45,000 Active 77 DOM
3. 2026-06-16
   days on market $45,000 Active 76 DOM
4. 2026-06-15
   days on market $45,000 Active 75 DOM
5. 2026-06-14
   days on market $45,000 Active 73 DOM
6. 2026-06-13
   days on market $45,000 Active 72 DOM
7. 2026-06-10
   days on market $45,000 Active 70 DOM
8. 2026-06-09
   days on market $45,000 Active 69 DOM
9. 2026-06-08
   days on market $45,000 Active 68 DOM
10. 2026-06-07
    days on market $45,000 Active 67 DOM
11. 2026-06-05
    days on market $45,000 Active 64 DOM
12. 2026-06-03
    days on market $45,000 Active 63 DOM
13. 2026-06-02
    days on market $45,000 Active 62 DOM
14. 2026-06-01
    days on market $45,000 Active 61 DOM
15. 2026-05-31
    days on market $45,000 Active 60 DOM
16. 2026-05-30
    days on market $45,000 Active 59 DOM
17. 2026-05-11
    price $45,000 371-char remark

    Show marketing remark (371 chars)

    Hartland - Rural ranch set on 3± acres with multiple outbuildings and plenty of potential. This property experienced a fire and will require renovation, offering an opportunity for investors or buyers ready to restore. Being sold as-is, the home is conveniently located between Bangor and Waterville. The seller had planned to remodel but plans have since changed.

18. 2026-04-01
    listed $52,900 Active 371-char remark

    Show marketing remark (371 chars)

    Hartland - Rural ranch set on 3± acres with multiple outbuildings and plenty of potential. This property experienced a fire and will require renovation, offering an opportunity for investors or buyers ready to restore. Being sold as-is, the home is conveniently located between Bangor and Waterville. The seller had planned to remodel but plans have since changed.

19. 2025-05-28
    soldstatus $45,000 Closed 189-char remark

    Show marketing remark (189 chars)

    Rural Ranch home on 3 acres with outbuildings. This home has had a fire and will need to be remodeled. Seller wishes to sell the home as-is. Centrally located between Bangor and Waterville.

20. 2025-04-29
    status Pending 189-char remark

    Show marketing remark (189 chars)

    Rural Ranch home on 3 acres with outbuildings. This home has had a fire and will need to be remodeled. Seller wishes to sell the home as-is. Centrally located between Bangor and Waterville.

21. 2025-04-25
    listed $45,000 Active 189-char remark

    Show marketing remark (189 chars)

    Rural Ranch home on 3 acres with outbuildings. This home has had a fire and will need to be remodeled. Seller wishes to sell the home as-is. Centrally located between Bangor and Waterville.

ⓘ 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: $1,685 · $140/mo
• Projected year-2 tax: $1,685 · $140/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: $16,100
• − Mortgage interest: −$2,521
• − Property taxes: −$1,685
• − Insurance: −$225
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$1,309
• Taxable income: $7,784
• Est. tax owed @ 24.0%: −$1,868
• After-tax cash flow: $6,109/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

• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $45,000 MREIS
• 2026-04-01 Listed $52,900 MREIS
• 2025-05-28 Sold (MLS) $45,000 MREIS
• 2025-04-29 Pending — MREIS
• 2025-04-25 Listed $45,000 MREIS

Property tax history

+0.2%/yr

Latest (2025): $1,685 · +7.3% YoY. Source: county tax records.