608 Adams Rd · Farmington, ME 04938

$135,000

2 bd · 1.0 ba · 960 sqft · MultiFamily public records · 324 Days on market

Built 1980 Good condition 1.30 ac lot $141/sqft · at area comps Est $159k · 15% under ↓ 5% since listing

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Why this score? — see what drove the A 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 +28.7/30.0
• ARV discount +14.4/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.1/10.0
• Schools +6.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +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

Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

Key facts

• 1.3 acre lot
• Parking
• Built 1980

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 4.8% in Farmington — 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 80/100 on livability (#18 in ME, #1,653 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A-; Watch: schools D, employment D-.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 90 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Franklin 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 324 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 324 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.32%
• DSCR: 1.64
• GRM: 6.9

CMA / ARV

• ARV (median comp): $159,361
• List price: $135,000
• Delta: -15.29%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.8%
• Equity multiple: 3.70×
• Total profit: $102,222
• Equity at exit: $121,619

10-year hold

• IRR: 30.0%
• Equity multiple: 8.36×
• Total profit: $278,371
• Equity at exit: $262,275

Cash invested: $37,800 (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 04938

• Home prices YoY: 6.4%
• Active inventory: 90
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$76 /mo · $916/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $451

Break-even live

Break-even rent $1,064

Max offer price $135,000

Occupancy floor 67%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-15
   days on market $135,000 Active 324 DOM
2. 2026-06-13
   days on market $135,000 Active 322 DOM
3. 2026-06-12
   days on market $135,000 Active 321 DOM
4. 2026-06-09
   days on market $135,000 Active 318 DOM
5. 2026-06-08
   days on market $135,000 Active 317 DOM
6. 2026-06-07
   days on market $135,000 Active 316 DOM
7. 2026-06-07
   days on market $135,000 Active 315 DOM
8. 2026-06-04
   days on market $135,000 Active 312 DOM
9. 2026-06-02
   days on market $135,000 Active 311 DOM
10. 2026-06-01
    days on market $135,000 Active 310 DOM
11. 2026-05-31
    days on market $135,000 Active 309 DOM
12. 2026-05-31
    days on market $135,000 Active 308 DOM
13. 2026-04-07
    price $135,000 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

14. 2026-01-26
    status Active 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

15. 2026-01-25
    historical 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

16. 2026-01-23
    price $145,000 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

17. 2025-11-04
    price $149,900 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

18. 2025-08-16
    price $155,000 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

19. 2025-07-25
    listed $165,000 Active 1250-char remark

    Show marketing remark (1250 chars)

    Escape to peace and tranquility at 608 Adams Road, a beautifully situated 2-bedroom, 1-bath home that perfectly captures the charm of rural Maine living. Enjoy the ease of one-floor living with a thoughtful layout that includes a first-floor bedroom and a bright, open living space. Seller did a large add-on with all new kitchen in 2021, installed a new metal roof and all new board and batten siding at the same time. Surrounded by rolling fields and wooded scenery, this home offers stunning tree-lined views and a sense of privacy that's hard to find. The open, level lot provides plenty of room for gardening, outdoor gatherings, or simply relaxing and soaking in the sounds of nature. Perfect as a year-round residence, retirement retreat, or weekend getaway, this property combines rustic charm with everyday comfort. Wake up to scenic morning views, spend your afternoons exploring nearby lakes and trails, and unwind under the stars in the peaceful Maine countryside. Conveniently located just a short drive from downtown Farmington's shops, dining, and community events, this home offers the best of both worlds—quiet country living with easy access to town amenities. Come discover your perfect slice of Maine life at 608 Adams Road!

20. 2024-05-14
    price $142,500

ⓘ 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: $916 · $76/mo
• Projected year-2 tax: $1,376 · $115/mo
• Expected delta: +$460/yr (+$38/mo · 50.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 6 d/yr ≥90°F today · 11 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $19,620
• − Mortgage interest: −$7,562
• − Property taxes: −$916
• − Insurance: −$675
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$3,927
• Taxable income: $3,400
• Est. tax owed @ 24.0%: −$816
• After-tax cash flow: $4,597/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This charming 2-bedroom home has been recently updated with a new kitchen, metal roof, and siding, making it move-in ready. It offers a peaceful rural setting with a level lot and tree-lined views.

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace old furniture — Modern furniture would improve both resale and rental value
• Both Add a small deck or patio — Enhances outdoor living space and increases property value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace old furniture — Modern furniture would improve both resale and rental value ↑
• Both Add a small deck or patio — Enhances outdoor living space and increases property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: RSU 09
• NCES district ID: 2314809
• Math proficiency: 78% ▲ 48.00%
• Reading proficiency: 82% ▲ 31.00%
• Median HH income: $40,202
• Composite: 66.71/100
• National rank: #409
• State rank: #88 of 112 in ME

Livability — Farmington

• Score: 80/100
• State rank: #18
• US rank: #1653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,368

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 28,948 people
• By 2030: 27,889 · -3.7%
• By 2040: 25,275 · -12.7%
• By 2050: 22,770 · -21.3%
• By 2075: 18,980 · -34.4%
• By 2100: 16,816 · -41.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Italian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+8.2) · D 44.8% · R 53.0% · Other 2.2%
• 2008→2024 swing: -28.5pp toward R · 2008: 20.3pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+3.9 2016: R+5.5 2012: D+18.5 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.53%
• Current HPI: 325.7666
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.3% since first listed

8 events — show timeline

• 2026-04-07 Price Changed $135,000 MREIS
• 2026-01-26 Relisted — MREIS
• 2026-01-25 Delisted — MREIS
• 2026-01-23 Price Changed $145,000 MREIS
• 2025-11-04 Price Changed $149,900 MREIS
• 2025-08-16 Price Changed $155,000 MREIS
• 2025-07-25 Listed $165,000 MREIS
• 2024-05-14 Price Changed $142,500 MREIS