35 Location Rd · Augusta, ME 04917

$365,000

3 bd · 2.0 ba · 2,496 sqft · MultiFamily public records · 4 Days on market

Built 2007 1.53 ac lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.5/10.0
• Cash flow +4.8/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

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

Here is an opportunity to unlock your interior design talents with this charming colonial home in Belgrade! Picture yourself adding your personal touch to the unfinished second floor, transforming it into your dream space. The first floor boasts a kitchen and eating space, living room along with 2 bedrooms and 2 bathrooms. Nestled in a serene wooded lot, you'll wake up to the tranquil sounds of nature and endless possibilities. With nearby shops, Belgrade Lakes, and a golf course, every day promises adventure and relaxation. Embrace the charm of this quaint town and make this house your home sweet home!''

Key facts

• Move-in ready
• New sheathing
• New windows

Tags

• MOVE-IN READY
• FULLY REBUILT SECOND LEVEL
• PRIVATE SIDE ENTRANCE
• NEW SHEATHING
• NEW WINDOWS
• RADIANT HOT WATER OIL FURNACE

Property features AI

Finance

• Other: Zoned rural/residential; Lot size about 1.53 acres
• Financial info: Tax information available (tax year 2025)

Exterior

• Parking: 5–10 off-street parking spaces; No garage
• Utilities: Electric service with circuit breakers; Private sewer (septic tank)
• Home design: Colonial single-family home; Multi-level
• Construction: Above-grade finished area approximately 2,496; Built as a single-family residence
• Exterior features: Shingle roof; Shed(s); Scenic and wooded views; Private well water

Interior

• Kitchen: Kitchen (first level)
• Bedrooms: Bedroom 1 (first level); Bedroom 2 (first level)
• Flooring: Luxury vinyl plank flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Radiant heating
• Interior features: Five total rooms; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $-896 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (43.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (50.5% below list).
• Recommended offer: $181k (50.5% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 2.6% in Augusta — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 43 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 $39k of equity ($3k loan paydown + $36k 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 ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.
• Current owner paid $270k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $180,780 (50.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.50% ✗
• Cap rate: 3.35%
• Cash-on-cash: -10.52%
• DSCR: 0.53
• GRM: 16.8

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: 16.9%
• Equity multiple: 2.39×
• Total profit: $141,610
• Equity at exit: $328,821

10-year hold

• IRR: 16.0%
• Equity multiple: 5.52×
• Total profit: $461,722
• Equity at exit: $709,115

Cash invested: $102,200 (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 04917

• Home prices YoY: 23.1%
• Active inventory: 43
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$258 /mo · $3,099/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-896

Break-even live

Break-even rent $2,942

Max offer price $206,670

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-29
   status Pending
2. 2026-04-25
   listed $365,000 Active
3. 2024-08-05
   soldstatus $270,000 Closed 612-char remark

   Show marketing remark (612 chars)

   Here is an opportunity to unlock your interior design talents with this charming colonial home in Belgrade! Picture yourself adding your personal touch to the unfinished second floor, transforming it into your dream space. The first floor boasts a kitchen and eating space, living room along with 2 bedrooms and 2 bathrooms. Nestled in a serene wooded lot, you'll wake up to the tranquil sounds of nature and endless possibilities. With nearby shops, Belgrade Lakes, and a golf course, every day promises adventure and relaxation. Embrace the charm of this quaint town and make this house your home sweet home!''

4. 2024-06-17
   status Pending 612-char remark

   Show marketing remark (612 chars)

   Here is an opportunity to unlock your interior design talents with this charming colonial home in Belgrade! Picture yourself adding your personal touch to the unfinished second floor, transforming it into your dream space. The first floor boasts a kitchen and eating space, living room along with 2 bedrooms and 2 bathrooms. Nestled in a serene wooded lot, you'll wake up to the tranquil sounds of nature and endless possibilities. With nearby shops, Belgrade Lakes, and a golf course, every day promises adventure and relaxation. Embrace the charm of this quaint town and make this house your home sweet home!''

5. 2024-06-10
   listed $265,000 Active 612-char remark

   Show marketing remark (612 chars)

   Here is an opportunity to unlock your interior design talents with this charming colonial home in Belgrade! Picture yourself adding your personal touch to the unfinished second floor, transforming it into your dream space. The first floor boasts a kitchen and eating space, living room along with 2 bedrooms and 2 bathrooms. Nestled in a serene wooded lot, you'll wake up to the tranquil sounds of nature and endless possibilities. With nearby shops, Belgrade Lakes, and a golf course, every day promises adventure and relaxation. Embrace the charm of this quaint town and make this house your home sweet home!''

ⓘ 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: $3,099 · $258/mo
• Projected year-2 tax: $4,032 · $336/mo
• Expected delta: +$932/yr (+$78/mo · 30.1%)

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

Taxation est. · year 1

• Rental income: $21,694
• − Mortgage interest: −$20,446
• − Property taxes: −$3,099
• − Insurance: −$1,825
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$10,618
• Taxable loss: −$17,765
• Est. tax savings @ 24.0%: +$4,264
• After-tax cash flow: $-6,492/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 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 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): 3,298

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 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 16% Slovak 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 6% Other Indo-European 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: ▲ 61.97%
• Current HPI: 330.4118
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+37.7% since first listed

5 events — show timeline

• 2026-04-29 Pending — MREIS
• 2026-04-25 Listed $365,000 MREIS
• 2024-08-05 Sold (MLS) $270,000 MREIS
• 2024-06-17 Pending — MREIS
• 2024-06-10 Listed $265,000 MREIS

Property tax history

+6.6%/yr

Latest (2025): $3,099 · +11.6% YoY. Source: county tax records.