642 Limerick Rd · Biddeford, ME 04046

$825,000

6 bd · 4.0 ba · 3,570 sqft · MultiFamily public records · 16 Days on market

Built 1972 3.00 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 +25.3/30.0
• DSCR +8.3/10.0
• Schools +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

4-unit multi-family. Beautiful 2-bedroom, 1.5 bath owner occupied apartment plus three 1-bedroom units. Property has 2 detached garages totaling 6 full sized bays and 2 smaller bays suitable for compact cars, recreational vehicles or storage. Owner's unit has been tastefully updated-HW and tile flooring, open concept floorplan, gas fireplace, attractive kitchen fully applianced. A patio and quaint 2nd story balcony provide lovely outdoor spaces. Sited on 3 rural acres within easy access to shopping and highway. Strong numbers, long term tenants, additional income potential from garage/storage areas. This property offers wide opportunity that cannot be appreciated via a drive-by. Also reference to Single Family MLS #1434933

Key facts

• Residential units
• Storage space
• Garage bays

Tags

• INVESTMENT OPPORTUNITY
• MULTI-UNIT PROPERTY
• RESIDENTIAL UNITS
• GARAGE BAYS
• ADDITIONAL INCOME POTENTIAL
• STORAGE SPACE

Property features AI

Finance

• Financial info: Gross income reported: $77,340; Operating expenses reported: $16,830

Exterior

• Parking: Garage on site; Eight garage spaces; Detached vehicle storage for 4+ cars with auto door opener; Gravel and paved parking; Off-street parking with 11–20 spaces
• Utilities: Electric with circuit breakers; Private well water; Private sewer; Electric water heater; Utilities are on
• Home design: Multi-unit property with 4 total units; Built in 1972
• Construction: Wood frame construction; Wood siding; Membrane roof
• Exterior features: Deck; Patio; Porch; Outbuilding; Shed(s); Waterfront on a brook; Near turnpike/interstate; Level and wooded lot

Interior

• Bedrooms: Includes a first-floor bedroom
• Flooring: Carpet; Tile; Vinyl; Wood; Luxury vinyl
• Bathrooms: Four full bathrooms; One half bathroom
• Heating & cooling: Baseboard heating; Direct vent heater; Zoned heating
• Interior features: First-floor bedroom; Bathtub; Storage; Walk-in closet(s); Level entry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $825k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $932/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $825k).
• Recommended offer: $813k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#29 in ME, #2,925 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A; Watch: crime C-, schools D-, amenities D-.
• RSU 21 (rural): math 91% / reading 94% proficiency, ranked #13 of 112 in ME (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 104 active listings in the ZIP; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($813k) is reasonable based on typical stale-listing flexibility.
• 5 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 $387k; list at $825k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $812,625 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.8

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-15,270
• Equity at exit: $123,010

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $138,495
• Equity at exit: $71,331

Cash invested: $231,000 (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 04046

• Home prices YoY: -16.8%
• Active inventory: 104
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $8,792 medium
• Mortgage (P&I): −$4,326
• Tax from tax record: −$412 /mo · $4,949/yr
• Insurance: −$344
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,846
• Net cashflow: $1,863

Break-even live

Break-even rent $6,434

Max offer price $825,000

Occupancy floor 74%

Sensitivity live

Price	-10% $2,330	-5% $2,097	+0% $1,863	+5% $1,630	+10% $1,396
Rent	-10% $1,169	-5% $1,516	+0% $1,863	+5% $2,210	+10% $2,558
Rate	-1.0pp $2,279	-0.5pp $2,073	base $1,863	+0.5pp $1,649	+1.0pp $1,432

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$8,792
Total (2 units)			$8,792

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: $206,250
• Closing costs: $24,750
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   listed $850,000 Active 1247-char remark
2. 2020-01-17
   soldstatus $387,000 Closed 732-char remark

   Show marketing remark (732 chars)

   4-unit multi-family. Beautiful 2-bedroom, 1.5 bath owner occupied apartment plus three 1-bedroom units. Property has 2 detached garages totaling 6 full sized bays and 2 smaller bays suitable for compact cars, recreational vehicles or storage. Owner's unit has been tastefully updated-HW and tile flooring, open concept floorplan, gas fireplace, attractive kitchen fully applianced. A patio and quaint 2nd story balcony provide lovely outdoor spaces. Sited on 3 rural acres within easy access to shopping and highway. Strong numbers, long term tenants, additional income potential from garage/storage areas. This property offers wide opportunity that cannot be appreciated via a drive-by. Also reference to Single Family MLS #1434933

3. 2019-11-22
   status Pending 732-char remark

   Show marketing remark (732 chars)

   4-unit multi-family. Beautiful 2-bedroom, 1.5 bath owner occupied apartment plus three 1-bedroom units. Property has 2 detached garages totaling 6 full sized bays and 2 smaller bays suitable for compact cars, recreational vehicles or storage. Owner's unit has been tastefully updated-HW and tile flooring, open concept floorplan, gas fireplace, attractive kitchen fully applianced. A patio and quaint 2nd story balcony provide lovely outdoor spaces. Sited on 3 rural acres within easy access to shopping and highway. Strong numbers, long term tenants, additional income potential from garage/storage areas. This property offers wide opportunity that cannot be appreciated via a drive-by. Also reference to Single Family MLS #1434933

4. 2019-10-30
   status Active 732-char remark

   Show marketing remark (732 chars)

   4-unit multi-family. Beautiful 2-bedroom, 1.5 bath owner occupied apartment plus three 1-bedroom units. Property has 2 detached garages totaling 6 full sized bays and 2 smaller bays suitable for compact cars, recreational vehicles or storage. Owner's unit has been tastefully updated-HW and tile flooring, open concept floorplan, gas fireplace, attractive kitchen fully applianced. A patio and quaint 2nd story balcony provide lovely outdoor spaces. Sited on 3 rural acres within easy access to shopping and highway. Strong numbers, long term tenants, additional income potential from garage/storage areas. This property offers wide opportunity that cannot be appreciated via a drive-by. Also reference to Single Family MLS #1434933

5. 2019-10-21
   status Pending 732-char remark

   Show marketing remark (732 chars)

   4-unit multi-family. Beautiful 2-bedroom, 1.5 bath owner occupied apartment plus three 1-bedroom units. Property has 2 detached garages totaling 6 full sized bays and 2 smaller bays suitable for compact cars, recreational vehicles or storage. Owner's unit has been tastefully updated-HW and tile flooring, open concept floorplan, gas fireplace, attractive kitchen fully applianced. A patio and quaint 2nd story balcony provide lovely outdoor spaces. Sited on 3 rural acres within easy access to shopping and highway. Strong numbers, long term tenants, additional income potential from garage/storage areas. This property offers wide opportunity that cannot be appreciated via a drive-by. Also reference to Single Family MLS #1434933

6. 2019-10-01
   listed $415,000 Active 732-char remark

   Show marketing remark (732 chars)

   4-unit multi-family. Beautiful 2-bedroom, 1.5 bath owner occupied apartment plus three 1-bedroom units. Property has 2 detached garages totaling 6 full sized bays and 2 smaller bays suitable for compact cars, recreational vehicles or storage. Owner's unit has been tastefully updated-HW and tile flooring, open concept floorplan, gas fireplace, attractive kitchen fully applianced. A patio and quaint 2nd story balcony provide lovely outdoor spaces. Sited on 3 rural acres within easy access to shopping and highway. Strong numbers, long term tenants, additional income potential from garage/storage areas. This property offers wide opportunity that cannot be appreciated via a drive-by. Also reference to Single Family MLS #1434933

ⓘ 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: $4,949 · $412/mo
• Projected year-2 tax: $8,084 · $674/mo
• Expected delta: +$3,136/yr (+$261/mo · 63.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $105,504
• − Mortgage interest: −$46,213
• − Property taxes: −$4,949
• − Insurance: −$4,125
• − Repairs & maintenance: −$8,440
• − Management: −$8,440
• − Depreciation: −$24,000
• Taxable income: $9,337
• Est. tax owed @ 24.0%: −$2,241
• After-tax cash flow: $20,117/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 21
• NCES district ID: 2314773
• Math proficiency: 91% ▲ 34.00%
• Reading proficiency: 94% ▲ 20.00%
• Median HH income: $68,462
• Composite: 79.78/100
• National rank: #55
• State rank: #13 of 112 in ME

Livability — Biddeford

• Score: 77/100
• State rank: #29
• US rank: #2925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 24,772
• Population (ZIP): 8,035

Population outlook (York County) Hauer SSP2

• Today (2025): 209,961 people
• By 2030: 212,816 · +1.4%
• By 2040: 214,360 · +2.1%
• By 2050: 210,350 · +0.2%
• By 2075: 201,686 · -3.9%
• By 2100: 183,392 · -12.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 16% Slovak 4% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 3% Russian/Polish/Slavic 1%

Political lean MEDSL · York

• 2024 margin: D (+10.5) · D 54.3% · R 43.8% · Other 1.9%
• 2008→2024 swing: -10.1pp toward R · 2008: 20.5pp · 2024: 10.5pp
• All cycles: 2024: D+10.5 2020: D+12.6 2016: D+4.8 2012: D+16.4 2008: D+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.58%
• Current HPI: 363.3908
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+98.8% since first listed

13 events — show timeline

• 2026-05-28 Pending — MREIS
• 2026-05-26 Price Changed $825,000 MREIS
• 2026-05-12 Listed $850,000 MREIS
• 2020-01-17 Delisted — MREIS
• 2020-01-17 Sold (MLS) $387,000 MREIS
• 2019-11-22 Pending — MREIS
• 2019-11-22 Pending — MREIS
• 2019-10-30 Relisted — MREIS
• 2019-10-30 Relisted — MREIS
• 2019-10-21 Pending — MREIS
• 2019-10-21 Pending — MREIS
• 2019-10-01 Listed $415,000 MREIS
• 2019-10-01 Listed $415,000 MREIS

Property tax history

+2.7%/yr

Latest (2024): $4,949 · +0.0% YoY. Source: county tax records.