32 Front St · Rumford, ME 04276

$154,900

2 bd · 1.5 ba · 969 sqft · MultiFamily public records · 1 Days on market

Built 1915

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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 +18.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• DSCR +5.6/10.0
• 1% rule +4.0/10.0
• 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

Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

Key facts

• Functional kitchen
• Fully renovated
• Bright open layout

Tags

• FULLY RENOVATED
• MODERN UPDATES
• MOVE-IN-READY CONDITION
• BRIGHT OPEN LAYOUT
• UPDATED FLOORING
• FUNCTIONAL KITCHEN

Property features AI

Exterior

• Home design: Built in 1915
• Construction: Original construction date: 1915
• Exterior features: Located in the Rumford subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (9.6% below list).
• Recommended offer: $140k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 5.5% in Rumford — 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 75/100 on livability (#39 in ME, #4,030 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D, schools F, 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: 82 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Oxford County population projected at -21% 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 $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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 $64k; list at $155k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000 (9.6% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 9.2

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: 26.9%
• Equity multiple: 3.14×
• Total profit: $92,783
• Equity at exit: $139,546

10-year hold

• IRR: 23.5%
• Equity multiple: 7.14×
• Total profit: $266,501
• Equity at exit: $300,937

Cash invested: $43,372 (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 04276

• Home prices YoY: 4.4%
• Active inventory: 82
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $133

Break-even live

Break-even rent $1,232

Max offer price $154,900

Occupancy floor 86%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Congress St Rumford, ME	1.0	1.0	508	$1,400	$2.75	43d	3	1.24mi

Listing history 15 events

1. 2026-05-13
   status Under Contract
2. 2026-05-12
   listed $154,900 Active
3. 2025-04-04
   soldstatus $64,000 Closed 338-char remark

   Show marketing remark (338 chars)

   Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

4. 2025-03-27
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

5. 2025-03-23
   status Active 338-char remark

   Show marketing remark (338 chars)

   Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

6. 2025-03-23
   price $70,000 338-char remark

   Show marketing remark (338 chars)

   Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

7. 2025-03-21
   historical Active Under Contract 338-char remark

   Show marketing remark (338 chars)

   Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

8. 2025-03-18
   listed $75,000 Active 338-char remark

   Show marketing remark (338 chars)

   Back on the market. .this 2 bedroom, 1.5 bath with a large open kitchen and dining area offers the affordability living you have been looking for. This home has a Pellet stove hook-up in the living room and metal roof. Come take a peek at this wonderful opportunity 32 front street has to offer!!! Power to property has been disconnected.

9. 2021-01-28
   historical
10. 2021-01-06
    listed $74,000 Active
11. 2019-12-12
    historical
12. 2019-08-14
    listed $69,900 Active
13. 2016-06-27
    historical
14. 2015-07-06
    listed $61,900 Active
15. 2003-04-30
    listed $68,824

ⓘ 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: $1,156 · $96/mo
• Projected year-2 tax: $1,631 · $136/mo
• Expected delta: +$475/yr (+$40/mo · 41.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $16,800
• − Mortgage interest: −$8,677
• − Property taxes: −$1,156
• − Insurance: −$774
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$4,506
• Taxable loss: −$1,001
• Est. tax savings @ 24.0%: +$240
• After-tax cash flow: $1,834/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 — Rumford

• Score: 75/100
• State rank: #39
• US rank: #4030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rumford, ME
• Population (ZIP): 5,918

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 (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Lithuanian 27% Slovak 5% German 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Tagalog/Filipino 1%

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: ▲ 12.73%
• Current HPI: 301.2786
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+125.1% since first listed

15 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $154,900 FSBO.com
• 2025-04-04 Sold (MLS) $64,000 MREIS
• 2025-03-27 Pending — MREIS
• 2025-03-23 Relisted — MREIS
• 2025-03-23 Price Changed $70,000 MREIS
• 2025-03-21 Contingent — MREIS
• 2025-03-18 Listed $75,000 MREIS
• 2021-01-28 Delisted — MREIS
• 2021-01-06 Listed $74,000 MREIS
• 2019-12-12 Delisted — MREIS
• 2019-08-14 Listed $69,900 MREIS
• 2016-06-27 Delisted — MREIS
• 2015-07-06 Listed $61,900 MREIS
• 2003-04-30 Listed $68,824 MREIS

Property tax history

-1.4%/yr

Latest (2025): $1,156 · +12.8% YoY. Source: county tax records.