14 School St · Searsport, ME 04981

$50,000

2 bd · 1.0 ba · 1,124 sqft · SingleFamily public records · 39 Days on market

Built 1860 0.27 ac lot ↓ 32% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.6/10.0

Listing remarks MLS

Older home on a nice in-town lot with 3 bedrooms and 1 bath with a large deck overlooking the back yard. See attachment for PAS requirements and WFHM offer submittal information in MLS document section. To report any concerns with an agent, or to report any property condition or other concern needing escalation (including concerns related to a previously submitted offer), please call: 1-877-617-5274

Key facts

• 0.27 acre lot
• Parking
• Built 1860

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 2.4% in Searsport — 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 66/100 on livability (#107 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A; Watch: health & safety C-, amenities F, commute F.
• RSU 20 (rural): math 75% / reading 82% proficiency, ranked #90 of 112 in ME (top 80%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Searsport Elementary (math 67% / reading 77%, grade A-, #253 of 294 statewide, top 90%, 214 students, 58% FRL); Searsport District Middle School (math 77% / reading 82%, grade A+, #63 of 85 statewide, top 77%, 101 students, 58% FRL); Searsport District High School (math 90% / reading 90%, grade A+, #44 of 108 statewide, top 44%, 133 students, 56% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 42 active listings in the ZIP; 143 units permitted in Waldo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Waldo County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $25k; list at $50k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 2.54% ✓
• Cap rate: 20.35%
• Cash-on-cash: 50.21%
• DSCR: 3.23
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $265,264
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Harris Rd	0.69mi	3/1.0 (+1)	1,088 (-3%)	21mo	$240,000	$221	40
92 School St	0.37mi	3/2.0 (+1)	1,252 (+11%)	24mo	$295,000	$236	35
261 US Rt 1	0.64mi	2/1.0	1,265 (+12%)	23mo	$299,000	$236	30

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

Projected returns pro-forma

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

5-year hold

• IRR: 48.0%
• Equity multiple: 3.09×
• Total profit: $29,274
• Equity at exit: $7,455

10-year hold

• IRR: 53.6%
• Equity multiple: 6.27×
• Total profit: $73,797
• Equity at exit: $4,323

Cash invested: $14,000 (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 04981

• Home prices YoY: -5.0%
• Active inventory: 42
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$135 /mo · $1,625/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $586

Break-even live

Break-even rent $530

Max offer price $50,000

Occupancy floor 49%

Sensitivity live

Price	-10% $614	-5% $600	+0% $586	+5% $572	+10% $558
Rent	-10% $485	-5% $536	+0% $586	+5% $636	+10% $686
Rate	-1.0pp $611	-0.5pp $599	base $586	+0.5pp $573	+1.0pp $560

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2025-12-30
   status Pending
2. 2025-11-21
   listed $50,000 Active
3. 2017-02-16
   soldstatus $25,100 Sold 402-char remark

   Show marketing remark (402 chars)

   Older home on a nice in-town lot with 3 bedrooms and 1 bath with a large deck overlooking the back yard. See attachment for PAS requirements and WFHM offer submittal information in MLS document section. To report any concerns with an agent, or to report any property condition or other concern needing escalation (including concerns related to a previously submitted offer), please call: 1-877-617-5274

4. 2017-01-14
   status Pending 402-char remark

   Show marketing remark (402 chars)

   Older home on a nice in-town lot with 3 bedrooms and 1 bath with a large deck overlooking the back yard. See attachment for PAS requirements and WFHM offer submittal information in MLS document section. To report any concerns with an agent, or to report any property condition or other concern needing escalation (including concerns related to a previously submitted offer), please call: 1-877-617-5274

5. 2017-01-06
   listed $25,000 Active 402-char remark

   Show marketing remark (402 chars)

   Older home on a nice in-town lot with 3 bedrooms and 1 bath with a large deck overlooking the back yard. See attachment for PAS requirements and WFHM offer submittal information in MLS document section. To report any concerns with an agent, or to report any property condition or other concern needing escalation (including concerns related to a previously submitted offer), please call: 1-877-617-5274

6. 2014-12-31
   listed $44,900
7. 2013-07-18
   listed $73,500

ⓘ 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: $1,625 · $135/mo
• Projected year-2 tax: $1,625 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $15,255
• − Mortgage interest: −$2,801
• − Property taxes: −$1,625
• − Insurance: −$250
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$1,455
• Taxable income: $6,684
• Est. tax owed @ 24.0%: −$1,604
• After-tax cash flow: $5,426/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 20
• NCES district ID: 2314791
• Math proficiency: 75% ▲ 49.00%
• Reading proficiency: 82% ▲ 41.00%
• Median HH income: $41,249
• Composite: 65.56/100
• National rank: #467
• State rank: #90 of 112 in ME

Livability — Searsport

• Score: 66/100
• State rank: #107
• US rank: #12181

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

• City population: 2,649
• Population (ZIP): 2,584

Population outlook (Waldo County) Hauer SSP2

• Today (2025): 39,611 people
• By 2030: 39,475 · -0.3%
• By 2040: 38,245 · -3.4%
• By 2050: 36,078 · -8.9%
• By 2075: 29,774 · -24.8%
• By 2100: 22,172 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Native American 1%
• Common ancestry: Lithuanian 7% Slovak 4% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Waldo

• 2024 margin: Toss-up / Even · D 50.4% · R 47.0% · Other 2.6%
• 2008→2024 swing: -8.3pp toward R · 2008: 11.6pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+4.7 2016: D+0.3 2012: D+10.7 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.77%
• Current HPI: 168.5467
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-32.0% since first listed

7 events — show timeline

• 2025-12-30 Pending — MREIS
• 2025-11-21 Listed $50,000 MREIS
• 2017-02-16 Sold (MLS) $25,100 MREIS
• 2017-01-14 Pending — MREIS
• 2017-01-06 Listed $25,000 MREIS
• 2014-12-31 Listed $44,900 MREIS
• 2013-07-18 Listed $73,500 MREIS

Property tax history

+3.6%/yr

Latest (2022): $1,625 · +0.5% YoY. Source: county tax records.