991 Oakland Rd · Oakland, ME 04917

$219,000

3 bd · 1.0 ba · 1,488 sqft · MultiFamily public records · 50 Days on market

Built 1978 1.10 ac lot $147/sqft · at area comps Est $221k · at est.

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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 +16.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.9/15.0
• Schools +7.5/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +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

BELGRADE LAKES Bright & sunny 3 bedroom, 1 bath country home sits on a nice 1.12AC lot with detached 2-car garage just 2 miles to the Salmon Lake public boat ramp and only 3 miles to the Messalonskee Lake public boat ramp! This comfortable ranch home features an open floor plan with tons of sunlight, nice sized kitchen with plenty of counter space cupboards and peninsula, dining room with large window, living room with glass sliders that open to a back deck overlooking a private, grassy yard surrounded by trees, three good sized bedrooms, full bath and laundry all on one floor. Detached 2-car garage has an auto-door opener & a workshop area on the main level with stairs leading above to an unfinished living space with a ton of potential! Nice level lot is lined with trees, lilac bushes, azaleas, established perennial beds with a nice paved driveway. Welcoming, light-filled sunroom from the side deck, utility room with furnace and storage, standing seam metal roof and vinyl siding for easy maintenance. Property is an affordable option for downsizing, your first home, fishing retreat or rental/investment income, with the potential to build your dream home in the future on the property in a convenient location just a short distance to all amenities in Oakland & Waterville, the I-95 and several public boat ramps in the center of the Belgrade Lakes area! Showings to start on Saturday, May 20th!

Key facts

• Durable vinyl siding
• 1.12-acre level lot
• New 200 amp service

Tags

• 1.12-ACRE LEVEL LOT
• DETACHED 2-CAR GARAGE
• FULL SECOND LEVEL
• NEW 200 AMP SERVICE
• DURABLE VINYL SIDING
• STANDING SEAM METAL ROOF

Property features AI

Finance

• HOA & community: No pet restrictions

Exterior

• Parking: Detached 2-car garage with storage above and auto door opener; Paved parking with 5–10 spaces
• Utilities: Private well water; Private sewer (septic) — soil test and septic design available; Circuit breaker electric; Utilities connected; Water heater off heating system
• Home design: Mobile home (double wide); Built in 1978; Public-records listed building area
• Construction: Steel frame, wood frame, and vinyl siding construction; Metal roof; Slab and pillar/post/pier foundation
• Exterior features: Deck; Glassed-in porch; Near golf course; Near public beach; Near town; Level lot; Paved road

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher; Trash compactor
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the first floor; Additional bedroom(s) on the first floor
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Ceiling fans
• Interior features: One-floor living; First-floor bedrooms; Bathtub; Shower; Level entry; Furnished negotiable
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (12.6% below list).
• Recommended offer: $191k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 1.8% in Oakland — 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 75/100 on livability (#37 in ME, #3,871 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• RSU 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 43 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Kennebec 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 $61k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $175k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $191,411 (12.6% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.30%
• DSCR: 1.10
• GRM: 9.5

CMA / ARV

• ARV (median comp): $220,729
• List price: $219,000
• Delta: -0.78%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.9%
• Equity multiple: 3.07×
• Total profit: $126,703
• Equity at exit: $197,293

10-year hold

• IRR: 22.8%
• Equity multiple: 6.99×
• Total profit: $367,156
• Equity at exit: $425,469

Cash invested: $61,320 (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 04917

• Home prices YoY: 23.1%
• Active inventory: 43
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,914 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $117

Break-even live

Break-even rent $1,766

Max offer price $219,000

Occupancy floor 89%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $219,000 Active 50 DOM
2. 2026-06-18
   days on market $219,000 Active 49 DOM
3. 2026-06-17
   days on market $219,000 Active 48 DOM
4. 2026-06-16
   days on market $219,000 Active 47 DOM
5. 2026-06-15
   days on market $219,000 Active 46 DOM
6. 2026-06-14
   days on market $219,000 Active 44 DOM
7. 2026-06-12
   days on market $219,000 Active 43 DOM
8. 2026-06-09
   days on market $219,000 Active 40 DOM
9. 2026-06-08
   days on market $219,000 Active 39 DOM
10. 2026-06-07
    days on market $219,000 Active 38 DOM
11. 2026-06-05
    days on market $219,000 Active 35 DOM
12. 2026-06-03
    days on market $219,000 Active 34 DOM
13. 2026-06-02
    days on market $219,000 Active 33 DOM
14. 2026-06-01
    days on market $219,000 Active 32 DOM
15. 2026-05-31
    days on market $219,000 Active 31 DOM
16. 2026-05-30
    days on market $219,000 Active 30 DOM
17. 2026-05-15
    price $219,000 689-char remark
18. 2026-04-30
    listed $230,000 Active 689-char remark
19. 2023-06-09
    historical 1433-char remark

    Show marketing remark (1433 chars)

    BELGRADE LAKES Bright & sunny 3 bedroom, 1 bath country home sits on a nice 1.12AC lot with detached 2-car garage just 2 miles to the Salmon Lake public boat ramp and only 3 miles to the Messalonskee Lake public boat ramp! This comfortable ranch home features an open floor plan with tons of sunlight, nice sized kitchen with plenty of counter space cupboards and peninsula, dining room with large window, living room with glass sliders that open to a back deck overlooking a private, grassy yard surrounded by trees, three good sized bedrooms, full bath and laundry all on one floor. Detached 2-car garage has an auto-door opener & a workshop area on the main level with stairs leading above to an unfinished living space with a ton of potential! Nice level lot is lined with trees, lilac bushes, azaleas, established perennial beds with a nice paved driveway. Welcoming, light-filled sunroom from the side deck, utility room with furnace and storage, standing seam metal roof and vinyl siding for easy maintenance. Property is an affordable option for downsizing, your first home, fishing retreat or rental/investment income, with the potential to build your dream home in the future on the property in a convenient location just a short distance to all amenities in Oakland & Waterville, the I-95 and several public boat ramps in the center of the Belgrade Lakes area! Showings to start on Saturday, May 20th!

20. 2023-06-09
    soldstatus $175,000 Closed 1433-char remark

    Show marketing remark (1433 chars)

    BELGRADE LAKES Bright & sunny 3 bedroom, 1 bath country home sits on a nice 1.12AC lot with detached 2-car garage just 2 miles to the Salmon Lake public boat ramp and only 3 miles to the Messalonskee Lake public boat ramp! This comfortable ranch home features an open floor plan with tons of sunlight, nice sized kitchen with plenty of counter space cupboards and peninsula, dining room with large window, living room with glass sliders that open to a back deck overlooking a private, grassy yard surrounded by trees, three good sized bedrooms, full bath and laundry all on one floor. Detached 2-car garage has an auto-door opener & a workshop area on the main level with stairs leading above to an unfinished living space with a ton of potential! Nice level lot is lined with trees, lilac bushes, azaleas, established perennial beds with a nice paved driveway. Welcoming, light-filled sunroom from the side deck, utility room with furnace and storage, standing seam metal roof and vinyl siding for easy maintenance. Property is an affordable option for downsizing, your first home, fishing retreat or rental/investment income, with the potential to build your dream home in the future on the property in a convenient location just a short distance to all amenities in Oakland & Waterville, the I-95 and several public boat ramps in the center of the Belgrade Lakes area! Showings to start on Saturday, May 20th!

21. 2023-05-23
    status Pending 1433-char remark

    Show marketing remark (1433 chars)

    BELGRADE LAKES Bright & sunny 3 bedroom, 1 bath country home sits on a nice 1.12AC lot with detached 2-car garage just 2 miles to the Salmon Lake public boat ramp and only 3 miles to the Messalonskee Lake public boat ramp! This comfortable ranch home features an open floor plan with tons of sunlight, nice sized kitchen with plenty of counter space cupboards and peninsula, dining room with large window, living room with glass sliders that open to a back deck overlooking a private, grassy yard surrounded by trees, three good sized bedrooms, full bath and laundry all on one floor. Detached 2-car garage has an auto-door opener & a workshop area on the main level with stairs leading above to an unfinished living space with a ton of potential! Nice level lot is lined with trees, lilac bushes, azaleas, established perennial beds with a nice paved driveway. Welcoming, light-filled sunroom from the side deck, utility room with furnace and storage, standing seam metal roof and vinyl siding for easy maintenance. Property is an affordable option for downsizing, your first home, fishing retreat or rental/investment income, with the potential to build your dream home in the future on the property in a convenient location just a short distance to all amenities in Oakland & Waterville, the I-95 and several public boat ramps in the center of the Belgrade Lakes area! Showings to start on Saturday, May 20th!

22. 2023-05-17
    listed $150,000 Active 1433-char remark

    Show marketing remark (1433 chars)

    BELGRADE LAKES Bright & sunny 3 bedroom, 1 bath country home sits on a nice 1.12AC lot with detached 2-car garage just 2 miles to the Salmon Lake public boat ramp and only 3 miles to the Messalonskee Lake public boat ramp! This comfortable ranch home features an open floor plan with tons of sunlight, nice sized kitchen with plenty of counter space cupboards and peninsula, dining room with large window, living room with glass sliders that open to a back deck overlooking a private, grassy yard surrounded by trees, three good sized bedrooms, full bath and laundry all on one floor. Detached 2-car garage has an auto-door opener & a workshop area on the main level with stairs leading above to an unfinished living space with a ton of potential! Nice level lot is lined with trees, lilac bushes, azaleas, established perennial beds with a nice paved driveway. Welcoming, light-filled sunroom from the side deck, utility room with furnace and storage, standing seam metal roof and vinyl siding for easy maintenance. Property is an affordable option for downsizing, your first home, fishing retreat or rental/investment income, with the potential to build your dream home in the future on the property in a convenient location just a short distance to all amenities in Oakland & Waterville, the I-95 and several public boat ramps in the center of the Belgrade Lakes area! Showings to start on Saturday, May 20th!

ⓘ 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: $1,861 · $155/mo
• Projected year-2 tax: $2,420 · $202/mo
• Expected delta: +$559/yr (+$47/mo · 30.0%)

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

Taxation est. · year 1

• Rental income: $22,969
• − Mortgage interest: −$12,267
• − Property taxes: −$1,861
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$6,371
• Taxable loss: −$2,300
• Est. tax savings @ 24.0%: +$552
• After-tax cash flow: $1,960/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 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 of 112 in ME

Livability — Oakland

• Score: 75/100
• State rank: #37
• US rank: #3871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,298

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 16% Slovak 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 6% Other Indo-European 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 61.97%
• Current HPI: 330.4118
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+46.0% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $219,000 MREIS
• 2026-04-30 Listed $230,000 MREIS
• 2023-06-09 Delisted — MREIS
• 2023-06-09 Sold (MLS) $175,000 MREIS
• 2023-05-23 Pending — MREIS
• 2023-05-17 Listed $150,000 MREIS

Property tax history

+3.5%/yr

Latest (2025): $1,861 · +11.6% YoY. Source: county tax records.