72 North St · Sherman, ME 04776

$37,500

2 bd · 1.0 ba · 1,200 sqft · MultiFamily · 30 Days on market

Built 1940 0.60 ac lot

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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 +7.4/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +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

Nice Bungalow with 1 car garage, AS IS , Power is all.

Key facts

• 0.6 acre lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached 1-car garage; Gravel parking with room for 1–4 vehicles
• Utilities: Private water; Private sewer; Utilities on
• Home design: Single-family residence; Built in 1940; Shingle roof; Wood frame construction with wood siding; Stone foundation
• Construction: Wood frame and wood siding construction; Stone foundation; Shingle roof; Built in 1940
• Exterior features: Level, neighborhood lot; Paved road access

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms (both on the second level)
• Flooring: Wood floors
• Bathrooms: One full bathroom
• Heating & cooling: Wood stove heating; Circuit breaker electrical panel
• Interior features: Six total rooms; Interior access to the basement; Unfinished full basement with sump pump
• Laundry & utility: Utilities active

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $38k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $37k (1.5% 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.
• RSU 89 (rural): math 30% / reading 45% proficiency, ranked #136 of 185 in ME (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($259 loan paydown + $2k appreciation (4.7% local appreciation)).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $36,937 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
4. 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.
5. 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: 3.11% ✓
• Cap rate: 26.60%
• Cash-on-cash: 72.53%
• DSCR: 4.23
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 78.6%
• Equity multiple: 5.62×
• Total profit: $48,509
• Equity at exit: $20,625

10-year hold

• IRR: 76.9%
• Equity multiple: 11.67×
• Total profit: $112,060
• Equity at exit: $35,089

Cash invested: $10,500 (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 04776

• Home prices YoY: 2.9%
• Active inventory: 16
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$197
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $635

Break-even live

Break-even rent $364

Max offer price $37,500

Occupancy floor 41%

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: $9,375
• Closing costs: $1,125
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $37,500 Active 30 DOM
2. 2026-06-17
   days on market $37,500 Active 29 DOM
3. 2026-06-16
   days on market $37,500 Active 28 DOM
4. 2026-06-15
   days on market $37,500 Active 27 DOM
5. 2026-06-13
   days on market $37,500 Active 25 DOM
6. 2026-06-12
   days on market $37,500 Active 24 DOM
7. 2026-06-09
   days on market $37,500 Active 21 DOM
8. 2026-06-08
   days on market $37,500 Active 20 DOM
9. 2026-06-07
   days on market $37,500 Active 19 DOM
10. 2026-06-05
    days on market $37,500 Active 17 DOM
11. 2026-06-04
    days on market $37,500 Active 15 DOM
12. 2026-06-02
    days on market $37,500 Active 14 DOM
13. 2026-06-01
    days on market $37,500 Active 13 DOM
14. 2026-05-31
    days on market $37,500 Active 12 DOM
15. 2026-05-31
    days on market $37,500 Active 11 DOM
16. 2026-05-19
    listed $37,500 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: $903 · $75/mo
• Projected year-2 tax: $903 · $75/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: $14,007
• − Mortgage interest: −$2,101
• − Property taxes: −$903
• − Insurance: −$188
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$1,091
• Taxable income: $7,484
• Est. tax owed @ 24.0%: −$1,796
• After-tax cash flow: $5,819/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 89
• NCES district ID: 2314838
• Math proficiency: 30% —
• Reading proficiency: 45% —
• Median HH income: $36,317
• Composite: 33.62/100
• National rank: #10477
• State rank: #136 of 185 in ME

Livability — Sherman

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

Census & demographics

• Population (ZIP): 886

Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1%
• Common ancestry: Polish 11% Lithuanian 10% German 1%
• Foreign-born: 2% · Canada
• Languages at home: 76% English-only · German/W. Germanic 22% French/Haitian/Cajun 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.72%
• Current HPI: 168.9152
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-19 Listed $37,500 MREIS

Property tax history

+1.8%/yr

Latest (2025): $903 · +2.1% YoY. Source: county tax records.