36 S Patten Rd · Patten, ME 04765

$143,500

4 bd · 1.5 ba · 1,168 sqft · MultiFamily · 5 Days on market

Built 1926 0.53 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).

• Cash flow +12.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• DSCR +3.7/10.0
• 1% rule +3.4/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +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

Key facts

• 0.53 acre lot
• Parking
• Built 1926

Property features AI

Exterior

• Parking: Gravel parking with space for 1–4 vehicles
• Utilities: Public water; Private sewer; Utilities currently on
• Home design: Single family residence; Built in 1926; Facing direction not specified
• Construction: Wood frame construction with vinyl siding; Metal roof; Built in 1926
• Exterior features: Porch; Outbuilding and sheds; Paved road access; Property described as both intown and rural

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the second floor; Bedroom 3 on the second floor; Bedroom 4 on the second floor
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Heat pump cooling; Electric water heater; Circuit breaker electrical system
• Interior features: Storage; Generator; Internet access available; Unfinished basement with dirt floor, interior entry and bulkhead
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $144k.

Deal economics

• At list price, monthly cash flow is $-24 ($-284/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (15.8% below list).
• Recommended offer: $121k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• RSU 89 (rural): math 30% / reading 45% proficiency, ranked #136 of 185 in ME (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Katahdin Elementary School (math 72% / reading 72%, grade A-, #253 of 294 statewide, top 90%, 150 students, 40% FRL); Katahdin Middle/High School (math 87% / reading 92%, grade A+, #56 of 108 statewide, top 60%, 153 students, 42% FRL).
• Zoned-school proficiency averages 81% at this address vs 38% district-wide (+43 pts) — the actual schools serving this property are materially stronger than the RSU 89 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 17 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($992 loan paydown + $1k appreciation (1.0% local appreciation)).
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,817 (15.8% 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 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.03×
• Total profit: $1,273
• Equity at exit: $49,083

10-year hold

• IRR: 5.4%
• Equity multiple: 1.65×
• Total profit: $26,261
• Equity at exit: $65,300

Cash invested: $40,180 (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 04765

• Home prices YoY: 0.9%
• Active inventory: 17
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$753
• Tax from tax record: −$166 /mo · $1,990/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-24

Break-even live

Break-even rent $1,238

Max offer price $139,313

Occupancy floor 97%

Sensitivity live

Price	-10% $58	-5% $17	+0% $-24	+5% $-64	+10% $-105
Rent	-10% $-119	-5% $-71	+0% $-24	+5% $24	+10% $72
Rate	-1.0pp $49	-0.5pp $13	base $-24	+0.5pp $-61	+1.0pp $-99

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: $35,875
• Closing costs: $4,305
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $143,500 Active 5 DOM
2. 2026-06-21
   days on market $143,500 Active 4 DOM
3. 2026-06-18
   days on market $143,500 Active 2 DOM
4. 2026-06-17
   listed $143,500 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: $1,990 · $166/mo
• Projected year-2 tax: $1,990 · $166/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,498
• − Mortgage interest: −$8,038
• − Property taxes: −$1,990
• − Insurance: −$718
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$4,175
• Taxable loss: −$2,742
• Est. tax savings @ 24.0%: +$658
• After-tax cash flow: $374/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 89
• NCES district ID: 2314838
• Math proficiency: 30% —
• Reading proficiency: 45% —
• Median HH income: $36,317
• Composite: 33.62/100
• National rank: #10477
• State rank: #136 of 185 in ME

Livability — Patten

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Patten, ME
• Population (ZIP): 1,452

Population outlook (Penobscot County) Hauer SSP2

• Today (2025): 149,928 people
• By 2030: 146,386 · -2.4%
• By 2040: 135,952 · -9.3%
• By 2050: 123,864 · -17.4%
• By 2075: 97,825 · -34.8%
• By 2100: 77,196 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Native American 1%
• Common ancestry: Lithuanian 11% Slovak 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Penobscot

• 2024 margin: R (+10.9) · D 43.6% · R 54.5% · Other 1.9%
• 2008→2024 swing: -15.9pp toward R · 2008: 5.0pp · 2024: -10.9pp
• All cycles: 2024: R+10.9 2020: R+8.3 2016: R+10.9 2012: D+2.9 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.01%
• Current HPI: 108.8434
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-16 Listed $143,500 MREIS

Property tax history

+6.3%/yr

Latest (2025): $1,990 · +9.1% YoY. Source: county tax records.