58 Kennison St #7 · Augusta, ME 04351

$199,000

2 bd · 1.0 ba · 950 sqft · Condo public records · 18 Days on market

Built 1972 $220/mo HOA · 13% of rent

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Why this score? — see what drove the C- 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 +10.7/30.0
• Appreciation +10.0/10.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautiful, quiet, 2 bedroom condominium in Manchester, located in a neighborhood and on a dead end street. Bedrooms are spacious. Updated bath. Kitchen with appliances and lots of cabinets. Washer & dryer. Spacious living room overlooking the backyard. Kitchen and living room have beautiful hardwood floors. Well maintained yard. Relax - no more yard work required! Less than 10 minutes to downtown Augusta and I-95.

Key facts

• Well maintained yard
• Updated bath
• Lots of cabinets

Tags

• UPDATED BATH
• LOTS OF CABINETS
• WASHER AND DRYER
• SPACIOUS LIVING ROOM
• WELL MAINTAINED YARD

Property features AI

Finance

• Other: Property is residentially zoned
• HOA & community: Homeowners association with an $220 monthly fee; Community contains 8 units

Exterior

• Parking: On-site paved parking
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Electric water heater
• Home design: Condominium; 1972 construction
• Construction: Wood frame with vinyl siding; Shingle roof; Three buildings on the property
• Exterior features: Paved road access; Near turnpike/interstate; Near town; Neighborhood setting; Level lot

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Two bedrooms on the first floor
• Flooring: Carpet; Tile; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Partial basement entry; 4 total rooms
• Laundry & utility: Washer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (12.8% below list).
• Recommended offer: $174k (12.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.6% in Augusta — 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 81/100 on livability (#15 in ME, #1,476 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D-, employment 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: 12 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,595 (12.8% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.9%
• Equity multiple: 2.84×
• Total profit: $102,480
• Equity at exit: $179,275

10-year hold

• IRR: 20.4%
• Equity multiple: 6.50×
• Total profit: $306,653
• Equity at exit: $386,613

Cash invested: $55,720 (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 04351

• Home prices YoY: 9.1%
• Active inventory: 12
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$119 /mo · $1,426/yr
• Insurance: −$83
• HOA: −$220
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-94

Break-even live

Break-even rent $1,855

Max offer price $182,407

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $199,000 Active 18 DOM
2. 2026-06-18
   days on market $199,000 Active 17 DOM
3. 2026-06-17
   days on market $199,000 Active 16 DOM
4. 2026-06-16
   days on market $199,000 Active 15 DOM
5. 2026-06-15
   days on market $199,000 Active 14 DOM
6. 2026-06-14
   days on market $199,000 Active 12 DOM
7. 2026-06-12
   days on market $199,000 Active 11 DOM
8. 2026-06-09
   days on market $199,000 Active 8 DOM
9. 2026-06-08
   days on market $199,000 Active 7 DOM
10. 2026-06-07
    days on market $199,000 Active 6 DOM
11. 2026-06-02
    remarks 419-char remark
12. 2026-06-02
    listed $199,000 Active 1 DOM

ⓘ 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: $1,426 · $119/mo
• Projected year-2 tax: $2,066 · $172/mo
• Expected delta: +$640/yr (+$53/mo · 44.9%)

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

Taxation est. · year 1

• Rental income: $20,831
• − Mortgage interest: −$11,147
• − Property taxes: −$1,426
• − Insurance: −$995
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − HOA: −$2,640
• − Depreciation: −$5,789
• Taxable loss: −$4,499
• Est. tax savings @ 24.0%: +$1,080
• After-tax cash flow: $-47/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 — Augusta

• Score: 81/100
• State rank: #15
• US rank: #1476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 26,690
• Population (ZIP): 2,464

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 (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 19% Slovak 4% Italian 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · German/W. Germanic 2% French/Haitian/Cajun 1% Chinese 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: ▲ 31.10%
• Current HPI: 372.6818
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-01 Listed $199,000 MREIS

Property tax history

+2.0%/yr

Latest (2024): $1,426 · +0.0% YoY. Source: county tax records.