23 Pleasant St · Limestone, ME 04750

$99,000

2 bd · 1.0 ba · 864 sqft · Other · 31 Days on market

Built 1935 9,147 sqft lot ↓ 14% since listing

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Why this score? — see what drove the B- 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• 1% rule +5.8/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home! This charming and affordable 2-bedroom, 1-bath ranch in Limestone is the perfect opportunity for a first-timers looking for a move-in ready property. Sitting on a nice corner lot, this home offers comfortable single-level living. Step inside through the enclosed front porch. The kitchen, dining room, and living room gives you a cozy, functional layout that is ready for you from day one. Updated electrical and oil tank mean the big ticket items are already taken care of, giving you peace of mind from the start. Out back you will find a garage and a large shed, providing plenty of room for vehicles, tools, and all your storage needs. Affordable, accessible, and move-in ready --

Key facts

• Updated electrical
• Garage
• Large shed

Tags

• CORNER LOT
• ENCLOSED FRONT PORCH
• UPDATED ELECTRICAL
• GARAGE
• LARGE SHED

Property features AI

Finance

• Financial info: Residential zoning

Exterior

• Parking: Detached 1-car garage; On-site paved parking with 1–4 spaces
• Utilities: Public water; Public sewer; Electric service (circuit breakers)
• Home design: Single family residence; Built in 1935; One-story (single level living)
• Construction: Wood frame with aluminum and vinyl siding; Stone and brick/mortar foundation; Shingle roof
• Exterior features: Lot near town; Paved road access

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms on the first floor
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Circuit breaker electrical panel
• Interior features: Five total rooms; Full, unfinished basement with interior access
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $99k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#36 in ME, #3,831 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Market conditions: 27 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($684 loan paydown + $2k appreciation (1.7% local appreciation)).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.08% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.69%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.71×
• Total profit: $19,680
• Equity at exit: $37,617

10-year hold

• IRR: 16.3%
• Equity multiple: 3.11×
• Total profit: $58,558
• Equity at exit: $53,091

Cash invested: $27,720 (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 04750

• Home prices YoY: 1.0%
• Active inventory: 27
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $224

Break-even live

Break-even rent $786

Max offer price $99,000

Occupancy floor 74%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $99,000 Active 31 DOM
2. 2026-06-17
   days on market $99,000 Active 30 DOM
3. 2026-06-16
   days on market $99,000 Active 29 DOM
4. 2026-06-15
   days on market $99,000 Active 28 DOM
5. 2026-06-13
   days on market $99,000 Active 26 DOM
6. 2026-06-12
   days on market $99,000 Active 25 DOM
7. 2026-06-09
   days on market $99,000 Active 22 DOM
8. 2026-06-08
   days on market $99,000 Active 21 DOM
9. 2026-06-07
   days on market $99,000 Active 20 DOM
10. 2026-06-07
    days on market $99,000 Active 19 DOM
11. 2026-06-04
    days on market $99,000 Active 16 DOM
12. 2026-06-02
    days on market $99,000 Active 15 DOM
13. 2026-06-01
    days on market $99,000 Active 14 DOM
14. 2026-05-31
    days on market $99,000 Active 13 DOM
15. 2026-05-31
    days on market $99,000 Active 12 DOM
16. 2026-05-18
    listed $99,000 Active
17. 2022-12-19
    historical
18. 2022-12-15
    price $105,000
19. 2022-12-02
    price $95,670
20. 2022-12-01
    status Active
21. 2022-11-16
    historical
22. 2022-10-29
    price $111,700
23. 2022-10-25
    listed $115,700 Active

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $1,034 · $86/mo
• Expected delta: +$312/yr (+$26/mo · 43.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $12,828
• − Mortgage interest: −$5,546
• − Property taxes: −$722
• − Insurance: −$495
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$2,880
• Taxable income: $1,133
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $2,415/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)

No district data.

Livability — Limestone

• Score: 75/100
• State rank: #36
• US rank: #3831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Limestone, ME
• Population (ZIP): 1,828

Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Native American 4% Two or more races 3%
• Common ancestry: Lithuanian 24% Slovak 6% German 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · French/Haitian/Cajun 5% Arabic 2%

Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.73%
• Current HPI: 170.0936
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-14.4% since first listed

8 events — show timeline

• 2026-05-18 Listed $99,000 MREIS
• 2022-12-19 Delisted — MREIS
• 2022-12-15 Price Changed $105,000 MREIS
• 2022-12-02 Price Changed $95,670 MREIS
• 2022-12-01 Relisted — MREIS
• 2022-11-16 Delisted — MREIS
• 2022-10-29 Price Changed $111,700 MREIS
• 2022-10-25 Listed $115,700 MREIS