24 Conejo Ln · Turner, ME 04220

$219,000

3 bd · 1.0 ba · 1,060 sqft · MultiFamily · 12 Days on market

Built 1993 1.25 ac lot

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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 +19.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• DSCR +6.2/10.0
• 1% rule +4.2/10.0
• 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

Listing remarks MLS

Efficient and convenient living all on one floor with attached two car garage. Added , Stick built, enclosed breezeway allows direct entry to the garage. Built on screened porch on front and fenced pet area at the back of the property. Includes newer washer dryer; refrigerator and gas range. Heats efficiently and has whole house air conditioner. Paved driveway and nice garden spot if so inclined. Great for anyone whether down sizing or first home. Extra bonus room between garage and home. Paved driveway, drilled well and private septic. Newer laminate floors in some rooms. Septic design is for 2 bedrooms. Listing agent is related to the seller.

Key facts

• Private acres
• Metal roof
• Screened-in porch

Tags

• PRIVATE ACRES
• CENTRAL AIR
• METAL ROOF
• GENERATOR HOOKUP
• SCREENED-IN PORCH
• FENCED AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/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 $202k (7.7% below list).
• Recommended offer: $202k (7.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Hartford-Sumner Elementary School (math 77% / reading 82%, grade A, #182 of 294 statewide, top 69%, 303 students, 54% FRL); Mountain Valley Middle School (math 69% / reading 78%, grade A, #79 of 85 statewide, top 95%, 354 students, 76% FRL); Buckfield Jr-Sr High School (math 87% / reading 92%, grade A+, #56 of 108 statewide, top 60%, 222 students, 40% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 37 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $22k 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 $61k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $99k; list at $219k implies a 121% gain — meaningful room to come down on a strong offer.

Recommended offer $202,049 (7.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.92% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 9.0

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: 27.9%
• Equity multiple: 3.21×
• Total profit: $135,332
• Equity at exit: $197,293

10-year hold

• IRR: 24.3%
• Equity multiple: 7.29×
• Total profit: $385,696
• Equity at exit: $425,469

Cash invested: $61,320 (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 04220

• Home prices YoY: 5.7%
• Active inventory: 37
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,020 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $253

Break-even live

Break-even rent $1,700

Max offer price $219,000

Occupancy floor 82%

Sensitivity live

Price	-10% $377	-5% $315	+0% $253	+5% $191	+10% $129
Rent	-10% $94	-5% $174	+0% $253	+5% $333	+10% $413
Rate	-1.0pp $364	-0.5pp $309	base $253	+0.5pp $197	+1.0pp $139

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-29
   status Pending
2. 2026-03-17
   listed $219,000 Active
3. 2019-11-21
   soldstatus $99,000 Closed 652-char remark

   Show marketing remark (652 chars)

   Efficient and convenient living all on one floor with attached two car garage. Added , Stick built, enclosed breezeway allows direct entry to the garage. Built on screened porch on front and fenced pet area at the back of the property. Includes newer washer dryer; refrigerator and gas range. Heats efficiently and has whole house air conditioner. Paved driveway and nice garden spot if so inclined. Great for anyone whether down sizing or first home. Extra bonus room between garage and home. Paved driveway, drilled well and private septic. Newer laminate floors in some rooms. Septic design is for 2 bedrooms. Listing agent is related to the seller.

4. 2019-10-10
   status Pending 652-char remark

   Show marketing remark (652 chars)

   Efficient and convenient living all on one floor with attached two car garage. Added , Stick built, enclosed breezeway allows direct entry to the garage. Built on screened porch on front and fenced pet area at the back of the property. Includes newer washer dryer; refrigerator and gas range. Heats efficiently and has whole house air conditioner. Paved driveway and nice garden spot if so inclined. Great for anyone whether down sizing or first home. Extra bonus room between garage and home. Paved driveway, drilled well and private septic. Newer laminate floors in some rooms. Septic design is for 2 bedrooms. Listing agent is related to the seller.

5. 2019-09-25
   listed $95,000 Active 652-char remark

   Show marketing remark (652 chars)

   Efficient and convenient living all on one floor with attached two car garage. Added , Stick built, enclosed breezeway allows direct entry to the garage. Built on screened porch on front and fenced pet area at the back of the property. Includes newer washer dryer; refrigerator and gas range. Heats efficiently and has whole house air conditioner. Paved driveway and nice garden spot if so inclined. Great for anyone whether down sizing or first home. Extra bonus room between garage and home. Paved driveway, drilled well and private septic. Newer laminate floors in some rooms. Septic design is for 2 bedrooms. Listing agent is related to the seller.

6. 2014-12-22
   soldstatus $85,000 253-char remark

   Show marketing remark (253 chars)

   Nicely landscaped 2 bed - 1 bath home on 1.25 acres. Paved driveway and attached 2 car garage make this ideal for those who prefer a 1 floor living space. Nicely fenced back yard, drilled well, central air, generator hook-up, metal roof, screened porch.

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $2,108 · $176/mo
• Expected delta: +$870/yr (+$73/mo · 70.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $24,246
• − Mortgage interest: −$12,267
• − Property taxes: −$1,238
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$6,371
• Taxable loss: −$605
• Est. tax savings @ 24.0%: +$145
• After-tax cash flow: $3,185/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 — Turner

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

Census & demographics

• Population (ZIP): 3,815

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 (89%)
• Race & ethnicity: White 89% Two or more races 11%
• Common ancestry: Lithuanian 18% Slovak 11% Serbian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · French/Haitian/Cajun 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: ▲ 14.52%
• Current HPI: 271.0662
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+157.6% since first listed

6 events — show timeline

• 2026-03-29 Pending — MREIS
• 2026-03-17 Listed $219,000 MREIS
• 2019-11-21 Sold (MLS) $99,000 MREIS
• 2019-10-10 Pending — MREIS
• 2019-09-25 Listed $95,000 MREIS
• 2014-12-22 Sold (MLS) $85,000 MREIS

Property tax history

-2.3%/yr

Latest (2025): $1,238 · +12.8% YoY. Source: county tax records.