2 Flood St · Mexico, ME 04257

$79,900

4 bd · 1.0 ba · 1,000 sqft · MultiFamily · 198 Days on market

Built 1903 0.40 ac lot $80/sqft · 38% below area Est $129k · 38% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.3/10.0
• Appreciation +3.8/10.0
• Livability +3.8/5.0
• 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

This 4-bedroom, 1-bath ranch offers fantastic potential with room for your renovation ideas and personal touches. With some repairs, it could become a comfortable year-round home or a solid investment property. Conveniently located in town and just a short distance from Black Mountain of Maine, Sunday River Ski Area, and nearby ATV/ITS trails, this property puts four-season recreation right at your doorstep. This property is to be sold 'as is'

Key facts

• Conveniently located
• 0.4 acre lot
• Parking

Tags

• SOLID INVESTMENT PROPERTY
• CONVENIENTLY LOCATED
• FOUR-SEASON RECREATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 7.1% in Mexico — 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 76/100 on livability (#35 in ME, #3,803 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute D+, schools D-, amenities F.
• RSU 10 (rural): math 72% / reading 79% proficiency, ranked #107 of 112 in ME (top 96%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 34 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.4%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oxford County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-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: 2.04% ✓
• Cap rate: 16.55%
• Cash-on-cash: 36.64%
• DSCR: 2.63
• GRM: 4.1

CMA / ARV

• ARV (median comp): $129,347
• List price: $79,900
• Delta: -38.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-2.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 2.46×
• Total profit: $32,665
• Equity at exit: $14,098

10-year hold

• IRR: 39.8%
• Equity multiple: 4.87×
• Total profit: $86,487
• Equity at exit: $10,720

Cash invested: $22,372 (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 04257

• Home prices YoY: -0.9%
• Active inventory: 34
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,631 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$154 /mo · $1,842/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $683

Break-even live

Break-even rent $767

Max offer price $79,900

Occupancy floor 53%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Falmouth St Rumford, ME	3.0	1.0	1000	$1,700	$1.70	44d	1	0.25mi
205 Cumberland St Unit 2R Rumford, ME	3.0	1.0	1000	$1,500	$1.50	44d	1	0.43mi
37 Erchles St Unit 1 Rumford, ME	4.0	1.0	1440	$1,650	$1.15	44d	1	0.43mi

Listing history 16 events

1. 2026-06-18
   days on market $79,900 Active 198 DOM
2. 2026-06-17
   days on market $79,900 Active 197 DOM
3. 2026-06-16
   days on market $79,900 Active 196 DOM
4. 2026-06-15
   days on market $79,900 Active 195 DOM
5. 2026-06-13
   days on market $79,900 Active 193 DOM
6. 2026-06-12
   days on market $79,900 Active 192 DOM
7. 2026-06-09
   days on market $79,900 Active 189 DOM
8. 2026-06-08
   days on market $79,900 Active 188 DOM
9. 2026-06-07
   days on market $79,900 Active 187 DOM
10. 2026-06-07
    days on market $79,900 Active 186 DOM
11. 2026-06-04
    days on market $79,900 Active 183 DOM
12. 2026-06-02
    days on market $79,900 Active 182 DOM
13. 2026-06-01
    days on market $79,900 Active 181 DOM
14. 2026-05-31
    days on market $79,900 Active 180 DOM
15. 2026-05-31
    days on market $79,900 Active 179 DOM
16. 2025-12-01
    listed $79,900 Active 447-char remark

    Show marketing remark (447 chars)

    This 4-bedroom, 1-bath ranch offers fantastic potential with room for your renovation ideas and personal touches. With some repairs, it could become a comfortable year-round home or a solid investment property. Conveniently located in town and just a short distance from Black Mountain of Maine, Sunday River Ski Area, and nearby ATV/ITS trails, this property puts four-season recreation right at your doorstep. This property is to be sold 'as is'

ⓘ 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: $1,842 · $154/mo
• Projected year-2 tax: $1,842 · $154/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: $19,577
• − Mortgage interest: −$4,476
• − Property taxes: −$1,842
• − Insurance: −$400
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$2,324
• Taxable income: $7,403
• Est. tax owed @ 24.0%: −$1,777
• After-tax cash flow: $6,419/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 10
• NCES district ID: 2314795
• Math proficiency: 72% ▲ 50.00%
• Reading proficiency: 79% ▲ 34.00%
• Median HH income: $37,647
• Composite: 62.72/100
• National rank: #671
• State rank: #107 of 112 in ME

Livability — Mexico

• Score: 76/100
• State rank: #35
• US rank: #3803

Category grades

Amenities F Commute D+ 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: Mexico, ME
• Population (ZIP): 2,772

Population outlook (Oxford County) Hauer SSP2

• Today (2025): 55,853 people
• By 2030: 54,190 · -3.0%
• By 2040: 49,484 · -11.4%
• By 2050: 43,958 · -21.3%
• By 2075: 32,308 · -42.2%
• By 2100: 21,858 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 22% Italian 3% Slovak 3%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2%

Political lean MEDSL · Oxford

• 2024 margin: R (+12.9) · D 42.7% · R 55.6% · Other 1.7%
• 2008→2024 swing: -28.9pp toward R · 2008: 16.0pp · 2024: -12.9pp
• All cycles: 2024: R+12.9 2020: R+8.8 2016: R+13.0 2012: D+14.9 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.39%
• Current HPI: 263.5537
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-12-01 Listed $79,900 MREIS

Property tax history

+1.2%/yr

Latest (2024): $1,842 · -0.6% YoY. Source: county tax records.