705 Plains Rd · Winthrop, ME 04352

$199,900

4 bd · 1.0 ba · 972 sqft · SingleFamily public records · 34 Days on market

Built 1840 9.00 ac lot $206/sqft · 19% below area Est $370k · 46% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Schools +7.6/10.0
• Cash flow +7.4/30.0
• Livability +3.5/5.0
• Appreciation +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.5/10.0

Listing remarks

Flippers, take notice! If you're looking for privacy and a peaceful, nature-filled setting, this property delivers. This older home features a metal roof, vinyl siding, and plenty of character. With a bit of work and a creative vision, it has the potential to become something truly impressive. Set on 9 acres, the land includes established flowering bushes, perennials, and an oversized 2-car garage -- the possibilities are endless. Conveniently located just minutes from Readfield and Winthrop, you'll have quick access to all the amenities you need while still enjoying a quiet, secluded environment. * * * THIS IS CONTINGENT ON THE SELLER TO FIND HOUSING * * *

Key facts

• Metal roof
• 9 acres
• Vinyl siding

Tags

• METAL ROOF
• VINYL SIDING
• 9 ACRES
• OVERSIZED GARAGE
• QUIET SECLUDED ENVIRONMENT

Property features AI

Finance

• Other: Lot size approximately 9 acres
• Financial info: Residential zoning

Exterior

• Parking: Detached 2-car garage with storage above; Gravel parking; 1–4 parking spaces
• Utilities: Private well water; Private sewer; Electric service (circuit breakers)
• Home design: Single-family residence; Multi-level; Built in 1840
• Construction: Vinyl siding and wood frame construction; Metal roof; Block, stone, granite, concrete perimeter and brick/mortar foundation
• Exterior features: Glass-enclosed porch; Porch; Rolling/sloping, open, level and wooded lot; Near town, rural setting; Paved road

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: Bedroom 1 (First floor); Bedroom 2 (First floor); Bedroom 3 (Second floor); Bedroom 4 (Second floor)
• Flooring: Wood; Laminate; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air; Wood stove; Circuit breaker electrical panel; Electric water heater (off heating system)
• Interior features: First-floor bedroom; Bathtub; Shower; Internet access available; Unfurnished; Six total rooms; One fireplace
• Laundry & utility: First-floor / main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-262 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (23.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (33.3% below list).
• Recommended offer: $133k (33.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.0% in Winthrop — 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 69/100 on livability (#76 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A, housing A; Watch: health & safety C-, employment D, amenities F.
• RSU 38 (rural): math 89% / reading 89% proficiency, ranked #27 of 112 in ME (top 24%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 18 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Kennebec 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 34 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,282 (33.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1840 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.67% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.61%
• DSCR: 0.75
• GRM: 12.5

CMA / ARV

• ARV (median comp): $370,341
• List price: $199,900
• Delta: -46.02%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.9%
• Equity multiple: 0.12×
• Total profit: $-49,084
• Equity at exit: $29,806

10-year hold

• IRR: -22.7%
• Equity multiple: -0.15×
• Total profit: $-64,293
• Equity at exit: $17,284

Cash invested: $55,972 (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 04352

• Home prices YoY: -0.8%
• Active inventory: 18
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,333 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$183 /mo · $2,197/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $-262

Break-even live

Break-even rent $1,664

Max offer price $153,662

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-12
   statusdays on market $199,900 Pending 34 DOM
2. 2026-06-09
   days on market $199,900 Active 33 DOM
3. 2026-06-08
   days on market $199,900 Active 32 DOM
4. 2026-06-07
   days on market $199,900 Active 31 DOM
5. 2026-06-02
   days on market $199,900 Active 26 DOM
6. 2026-06-01
   days on market $199,900 Active 25 DOM
7. 2026-05-31
   days on market $199,900 Active 24 DOM
8. 2026-05-30
   days on market $199,900 Active 23 DOM
9. 2026-05-07
   listed $199,900 Active 669-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: $2,197 · $183/mo
• Projected year-2 tax: $2,458 · $205/mo
• Expected delta: +$261/yr (+$22/mo · 11.9%)

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

Taxation est. · year 1

• Rental income: $15,994
• − Mortgage interest: −$11,198
• − Property taxes: −$2,197
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − Depreciation: −$5,815
• Taxable loss: −$6,774
• Est. tax savings @ 24.0%: +$1,626
• After-tax cash flow: $-1,515/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 38
• NCES district ID: 2314788
• Math proficiency: 89% ▲ 54.00%
• Reading proficiency: 89% ▲ 29.00%
• Median HH income: $63,163
• Composite: 76.39/100
• National rank: #107
• State rank: #27 of 112 in ME

Livability — Winthrop

• Score: 69/100
• State rank: #76
• US rank: #8395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,153
• Population (ZIP): 1,728

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 15% Slovak 4% Serbian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -3.14%
• Current HPI: 406.9047
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+122.4% since first listed

6 events — show timeline

• 2026-06-10 Pending — MREIS
• 2026-05-07 Listed $199,900 MREIS
• 2025-10-20 Delisted — MREIS
• 2025-08-23 Contingent — MREIS
• 2025-08-15 Listed $199,900 MREIS
• 2002-03-29 Listed $89,900 MREIS

Property tax history

+4.3%/yr

Latest (2024): $2,197 · +10.6% YoY. Source: county tax records.