453 Station Rd · Patten, ME 04777

$14,500

2 bd · 1.0 ba · 1,100 sqft · SingleFamily · 15 Days on market

9,583 sqft 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This is in poor condition, the well had collapsed, the sewer is questionable. Amish shed stays. Everything inside you have to clean. It is an AS IS house , but for the price you could put in a well, fix it or put a new house it. 2 lots. It was sold in 2008 at $24,000 , so you are getting a deal at $14,500 fix well, they used town water and heated on the stove. House is vacant for year

Key facts

• 9,583 sq ft lot
• Parking
• Listed 15 days

Property features AI

Exterior

• Parking: Gravel parking with 1–4 spaces
• Utilities: Well needed on site for water; Private sewer
• Home design: Single family residence; Entry and main living areas on the first floor
• Construction: Wood frame construction with wood siding; Metal and shingle roof; Originally built in 999 (public records)
• Exterior features: Level, neighborhood lot; Paved road access

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Primary bedroom on the first floor; Second bedroom on the second floor
• Flooring: Hardwood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Heating present (details not specified); Electric service with circuit breakers
• Interior features: Six total rooms; Unfinished basement
• Laundry & utility: Other water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $14k.

Deal economics

• At list price, monthly cash flow is $866 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $14k).
• Recommended offer: $14k (1.5% below list) — sets the bar for market timing.

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.
• Market conditions: 6 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 $535 of equity ($100 loan paydown + $435 appreciation (3.0% local appreciation)).
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $14,282 (1.5% 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. 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?
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 8.44% ✓
• Cap rate: 77.99%
• Cash-on-cash: 256.06%
• DSCR: 12.39
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 15.03×
• Total profit: $56,942
• Equity at exit: $6,520

10-year hold

• IRR: —
• Equity multiple: 31.89×
• Total profit: $125,408
• Equity at exit: $10,048

Cash invested: $4,060 (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 04777

• Active inventory: 6
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,223 medium
• Mortgage (P&I): −$76
• Tax est. 1.5%: −$18 /mo · $218/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $866

Break-even live

Break-even rent $127

Max offer price $14,500

Occupancy floor 24%

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: $3,625
• Closing costs: $435
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-22
   status Pending
2. 2026-05-19
   status Active
3. 2025-11-10
   historical
4. 2025-10-29
   listed $14,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,682
• − Mortgage interest: −$812
• − Property taxes: −$218
• − Insurance: −$72
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$422
• Taxable income: $10,808
• Est. tax owed @ 24.0%: −$2,594
• After-tax cash flow: $7,802/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

• Population (ZIP): 503

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 (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 16% Polish 14% Serbian 3%
• Foreign-born: 1% · Canada
• Languages at home: 91% English-only · German/W. Germanic 8% 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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

4 events — show timeline

• 2026-05-22 Pending — MREIS
• 2026-05-19 Relisted — MREIS
• 2025-11-10 Delisted — MREIS
• 2025-10-29 Listed $14,500 MREIS