11 Pine St · Mechanic Falls, ME 04256

$109,900

4 bd · 2.0 ba · 630 sqft · Other public records · 182 Days on market

Built 1900 1.20 ac lot $174/sqft · 13% above area ↓ 49% since listing

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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 +25.4/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +6.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable opportunity in the heart of Mechanic Falls. This property is priced to reflect its condition and offers strong potential for investors, contractors, or buyers looking for a renovation project. The home requires substantial repairs and updates throughout, but provides a solid chance to build equity at an attractive entry price. Convenient in-town location with access to local amenities. Bring your tools and vision—cash or renovation financing likely required. Sold as-is.

Key facts

• 1.2 acre lot
• Parking
• Built 1900

Tags

• HEART OF MECHANIC FALLS
• CONVENIENT IN-TOWN LOCATION
• ACCESS TO LOCAL AMENITIES
• SOLID CHANCE TO BUILD EQUITY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.4% in Mechanic Falls — 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 (#78 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, amenities F.
• RSU 16 (rural): math 79% / reading 83% proficiency, ranked #73 of 112 in ME (top 65%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 21 active listings in the ZIP; 358 units permitted in Androscoggin County in 2024 (57 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Androscoggin County population projected at -19% 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1900 — 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 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 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: 1.27% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 6.6

CMA / ARV

• ARV (median comp): $309,316
• List price: $109,900
• Delta: -64.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.6%
• Equity multiple: 3.47×
• Total profit: $76,152
• Equity at exit: $99,007

10-year hold

• IRR: 27.3%
• Equity multiple: 7.88×
• Total profit: $211,643
• Equity at exit: $213,512

Cash invested: $30,772 (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 04256

• Home prices YoY: 4.0%
• Active inventory: 21
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,393 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$223 /mo · $2,679/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $255

Break-even live

Break-even rent $1,070

Max offer price $109,900

Occupancy floor 77%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $109,900 Active 182 DOM
2. 2026-06-18
   days on market $109,900 Active 181 DOM
3. 2026-06-17
   days on market $109,900 Active 180 DOM
4. 2026-06-16
   days on market $109,900 Active 179 DOM
5. 2026-06-15
   days on market $109,900 Active 178 DOM
6. 2026-06-14
   days on market $109,900 Active 176 DOM
7. 2026-06-13
   days on market $109,900 Active 175 DOM
8. 2026-06-10
   days on market $109,900 Active 173 DOM
9. 2026-06-09
   days on market $109,900 Active 172 DOM
10. 2026-06-08
    days on market $109,900 Active 171 DOM
11. 2026-06-07
    days on market $109,900 Active 170 DOM
12. 2026-06-05
    pricedays on market $109,900 Active 167 DOM
13. 2026-06-02
    days on market $117,900 Active 165 DOM
14. 2026-06-01
    days on market $117,900 Active 164 DOM
15. 2026-05-31
    days on market $117,900 Active 163 DOM
16. 2026-05-30
    days on market $117,900 Active 162 DOM
17. 2026-03-20
    status Active 491-char remark

    Show marketing remark (491 chars)

    Affordable opportunity in the heart of Mechanic Falls. This property is priced to reflect its condition and offers strong potential for investors, contractors, or buyers looking for a renovation project. The home requires substantial repairs and updates throughout, but provides a solid chance to build equity at an attractive entry price. Convenient in-town location with access to local amenities. Bring your tools and vision—cash or renovation financing likely required. Sold as-is.

18. 2026-03-20
    historical 491-char remark

    Show marketing remark (491 chars)

    Affordable opportunity in the heart of Mechanic Falls. This property is priced to reflect its condition and offers strong potential for investors, contractors, or buyers looking for a renovation project. The home requires substantial repairs and updates throughout, but provides a solid chance to build equity at an attractive entry price. Convenient in-town location with access to local amenities. Bring your tools and vision—cash or renovation financing likely required. Sold as-is.

19. 2026-01-24
    price $117,900 491-char remark

    Show marketing remark (491 chars)

    Affordable opportunity in the heart of Mechanic Falls. This property is priced to reflect its condition and offers strong potential for investors, contractors, or buyers looking for a renovation project. The home requires substantial repairs and updates throughout, but provides a solid chance to build equity at an attractive entry price. Convenient in-town location with access to local amenities. Bring your tools and vision—cash or renovation financing likely required. Sold as-is.

20. 2025-12-19
    listed $129,000 Active 491-char remark

    Show marketing remark (491 chars)

    Affordable opportunity in the heart of Mechanic Falls. This property is priced to reflect its condition and offers strong potential for investors, contractors, or buyers looking for a renovation project. The home requires substantial repairs and updates throughout, but provides a solid chance to build equity at an attractive entry price. Convenient in-town location with access to local amenities. Bring your tools and vision—cash or renovation financing likely required. Sold as-is.

21. 2024-11-05
    price $199,000
22. 2024-09-27
    price $215,000
23. 2024-08-03
    price $230,000

ⓘ 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: $2,679 · $223/mo
• Projected year-2 tax: $2,679 · $223/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,710
• − Mortgage interest: −$6,156
• − Property taxes: −$2,679
• − Insurance: −$550
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$3,197
• Taxable income: $1,455
• Est. tax owed @ 24.0%: −$349
• After-tax cash flow: $2,707/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 16
• NCES district ID: 2314775
• Math proficiency: 79% ▲ 40.00%
• Reading proficiency: 83% ▲ 29.00%
• Median HH income: $58,651
• Composite: 69.31/100
• National rank: #315
• State rank: #73 of 112 in ME

Livability — Mechanic Falls

• Score: 69/100
• State rank: #78
• US rank: #8822

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: Mechanic Falls, ME
• Population (ZIP): 3,108

Population outlook (Androscoggin County) Hauer SSP2

• Today (2025): 103,965 people
• By 2030: 101,004 · -2.8%
• By 2040: 93,218 · -10.3%
• By 2050: 84,222 · -19.0%
• By 2075: 63,391 · -39.0%
• By 2100: 43,273 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 16% Black 4% Asian 2%
• Common ancestry: Lithuanian 5% Slovak 3% Romanian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 98% English-only · Chinese 2%

Political lean MEDSL · Androscoggin

• 2024 margin: Lean R (+6.1) · D 45.9% · R 52.0% · Other 2.1%
• 2008→2024 swing: -21.3pp toward R · 2008: 15.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+2.8 2016: R+9.4 2012: D+12.8 2008: D+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.44%
• Current HPI: 327.6966
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-48.7% since first listed

7 events — show timeline

• 2026-03-20 Relisted — MREIS
• 2026-03-20 Delisted — MREIS
• 2026-01-24 Price Changed $117,900 MREIS
• 2025-12-19 Listed $129,000 MREIS
• 2024-11-05 Price Changed $199,000 MREIS
• 2024-09-27 Price Changed $215,000 MREIS
• 2024-08-03 Price Changed $230,000 MREIS

Property tax history

+2.3%/yr

Latest (2025): $2,679 · -3.3% YoY. Source: county tax records.