61 Elm St · Newport, ME 04953

$299,999

4 bd · 2.5 ba · 2,297 sqft · MultiFamily · 37 Days on market

Built 1800 0.26 ac lot $131/sqft · 21% above area Est $248k · 21% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 0.26 acre lot
• Garage
• Built 1800

Property features AI

Finance

• Other: Zoned RES/COMMERCIAL

Exterior

• Parking: Detached garage with paved parking; Adequate vehicle storage for 4+ cars (detached)
• Utilities: Public water; Public sewer; Electric with circuit breakers; Water heater tied to off-heating system
• Home design: Single family residence; Year built around 1800; Two-level living (rooms on first and second levels)
• Construction: Wood frame construction with vinyl siding; Metal roof
• Exterior features: Near public beach; Near shopping; Near turnpike/interstate; Neighborhood setting; Riverfront on the Sebasticook with water view; Barn on the property; Paved road access

Interior

• Kitchen: Eat-in kitchen; Kitchen on first level
• Bedrooms: Bedroom 1 (first level); Bedroom 2 (first level); Bedroom 3 (first level)
• Flooring: Carpet; Laminate; Vinyl; Linoleum
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heating: Baseboard, Direct vent heater, Heat pump, Hot water; Cooling: Heat pump
• Interior features: Seven total rooms; In-law floorplan above the garage with eat-in kitchen and full bath; Full, unfinished basement with interior entry; One fireplace
• Laundry & utility: Basement with interior access

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#118 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, schools F, amenities F.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $49k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1800 — 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 F-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: 1.76% ✓
• Cap rate: 14.99%
• Cash-on-cash: 31.05%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (median comp): $247,867
• List price: $299,999
• Delta: 21.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
95 Elm St	0.16mi	5/4.0 (+1)	2,633 (+15%)	14mo	$285,000	$108	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 47.9%
• Equity multiple: 4.59×
• Total profit: $301,836
• Equity at exit: $270,263

10-year hold

• IRR: 41.7%
• Equity multiple: 10.29×
• Total profit: $780,055
• Equity at exit: $582,832

Cash invested: $84,000 (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 04953

• Home prices YoY: 13.2%
• Active inventory: 25
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $5,265 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$288 /mo · $3,453/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,106
• Net cashflow: $2,173

Break-even live

Break-even rent $2,514

Max offer price $299,999

Occupancy floor 54%

Sensitivity live

Price	-10% $2,343	-5% $2,258	+0% $2,173	+5% $2,088	+10% $2,004
Rent	-10% $1,757	-5% $1,965	+0% $2,173	+5% $2,381	+10% $2,589
Rate	-1.0pp $2,324	-0.5pp $2,250	base $2,173	+0.5pp $2,096	+1.0pp $2,017

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,264
Total (4 units)			$5,265

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Elm St Newport, ME	3.0	1.5	1958	$2,200	$1.12	44d	1	0.24mi

Listing history 19 events

1. 2026-06-18
   days on market $299,999 Active 37 DOM
2. 2026-06-17
   days on market $299,999 Active 36 DOM
3. 2026-06-16
   days on market $299,999 Active 35 DOM
4. 2026-06-15
   days on market $299,999 Active 34 DOM
5. 2026-06-14
   days on market $299,999 Active 32 DOM
6. 2026-06-13
   days on market $299,999 Active 31 DOM
7. 2026-06-10
   days on market $299,999 Active 29 DOM
8. 2026-06-09
   days on market $299,999 Active 28 DOM
9. 2026-06-08
   days on market $299,999 Active 27 DOM
10. 2026-06-07
    pricedays on market $299,999 Active 26 DOM
11. 2026-06-05
    days on market $349,000 Active 23 DOM
12. 2026-06-03
    days on market $349,000 Active 22 DOM
13. 2026-06-02
    days on market $349,000 Active 21 DOM
14. 2026-06-01
    days on market $349,000 Active 20 DOM
15. 2026-05-31
    days on market $349,000 Active 19 DOM
16. 2026-05-30
    days on market $349,000 Active 18 DOM
17. 2026-05-12
    listed $349,000 Active 1311-char remark
18. 2026-03-23
    price $239,000
19. 2026-02-27
    price $259,900

ⓘ 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: $3,453 · $288/mo
• Projected year-2 tax: $3,766 · $314/mo
• Expected delta: +$313/yr (+$26/mo · 9.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $63,180
• − Mortgage interest: −$16,805
• − Property taxes: −$3,453
• − Insurance: −$1,500
• − Repairs & maintenance: −$5,054
• − Management: −$5,054
• − Depreciation: −$8,727
• Taxable income: $22,586
• Est. tax owed @ 24.0%: −$5,421
• After-tax cash flow: $20,660/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Newport

• Score: 61/100
• State rank: #118
• US rank: #17837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, ME
• Population (ZIP): 3,145

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 (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Serbian 6% Lithuanian 5% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · 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: ▲ 37.37%
• Current HPI: 320.8626
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+11.2% since first listed

8 events — show timeline

• 2026-06-06 Price Changed $299,999 MREIS
• 2026-05-12 Listed $349,000 MREIS
• 2026-05-04 Delisted — MREIS
• 2026-04-27 Relisted — MREIS
• 2026-04-09 Pending — MREIS
• 2026-03-23 Price Changed $239,000 MREIS
• 2026-02-27 Price Changed $259,900 MREIS
• 2026-01-18 Listed $269,900 MREIS

Property tax history

+5.7%/yr

Latest (2024): $3,453 · +14.8% YoY. Source: county tax records.