392 Old Washburn Rd · Caribou, ME 04736

$79,000

4 bd · 1.5 ba · 992 sqft · SingleFamily public records · 250 Days on market

1.97 ac lot $80/sqft · 51% below area

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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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +6.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

According to family lore, this farmhouse was originally moved from Limestone by horse-drawn wagon—adding a touch of history to its story. This 4-bedroom, 1.5-bath farmhouse sits on a peaceful and private 1.97-acre lot just minutes from town. Though started, the home is in need of some clean-out inside and also in the yard. Updates are needed throughout, including siding, windows, kitchen, and baths. A 3-sided pole barn off to one side offers handy space for outdoor storage. The lot itself is very pretty—some open land, perfect for homesteading and bordered by trees for privacy. Starlink will be the best Internet option. A great opportunity for someone looking to restore or rebuild in a quiet country setting close to town conveniences. This will be a great winter project, don't miss!

Key facts

• Open land
• Bordered by trees
• 3-sided pole barn

Tags

• PEACEFUL AND PRIVATE LOT
• 3-SIDED POLE BARN
• OPEN LAND
• BORDERED BY TREES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.5% in Caribou — 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 74/100 on livability (#46 in ME, #4,849 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D, amenities F.
• RSU 39 (town): math 82% / reading 83% proficiency, ranked #79 of 112 in ME (top 70%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 83 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.28% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.82%
• DSCR: 1.53
• GRM: 6.5

CMA / ARV

• ARV (median comp): $258,813
• List price: $79,000
• Delta: -69.48%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,112
• Equity at exit: $11,779

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $18,991
• Equity at exit: $6,830

Cash invested: $22,120 (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 04736

• Home prices YoY: -18.6%
• Active inventory: 83
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,015 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$136 /mo · $1,637/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $218

Break-even live

Break-even rent $739

Max offer price $79,000

Occupancy floor 74%

Sensitivity live

Price	-10% $263	-5% $240	+0% $218	+5% $195	+10% $173
Rent	-10% $138	-5% $178	+0% $218	+5% $258	+10% $298
Rate	-1.0pp $258	-0.5pp $238	base $218	+0.5pp $197	+1.0pp $177

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $79,000 Active 250 DOM
2. 2026-06-18
   days on market $79,000 Active 248 DOM
3. 2026-06-17
   days on market $79,000 Active 247 DOM
4. 2026-06-16
   days on market $79,000 Active 246 DOM
5. 2026-06-15
   days on market $79,000 Active 245 DOM
6. 2026-06-13
   days on market $79,000 Active 243 DOM
7. 2026-06-12
   days on market $79,000 Active 242 DOM
8. 2026-06-09
   days on market $79,000 Active 239 DOM
9. 2026-06-08
   days on market $79,000 Active 238 DOM
10. 2026-06-07
    days on market $79,000 Active 237 DOM
11. 2026-06-07
    days on market $79,000 Active 236 DOM
12. 2026-06-04
    days on market $79,000 Active 233 DOM
13. 2026-06-02
    days on market $79,000 Active 232 DOM
14. 2026-06-01
    days on market $79,000 Active 231 DOM
15. 2026-05-31
    days on market $79,000 Active 230 DOM
16. 2026-05-31
    days on market $79,000 Active 229 DOM
17. 2025-10-13
    listed $79,000 Active 805-char remark

    Show marketing remark (805 chars)

    According to family lore, this farmhouse was originally moved from Limestone by horse-drawn wagon—adding a touch of history to its story. This 4-bedroom, 1.5-bath farmhouse sits on a peaceful and private 1.97-acre lot just minutes from town. Though started, the home is in need of some clean-out inside and also in the yard. Updates are needed throughout, including siding, windows, kitchen, and baths. A 3-sided pole barn off to one side offers handy space for outdoor storage. The lot itself is very pretty—some open land, perfect for homesteading and bordered by trees for privacy. Starlink will be the best Internet option. A great opportunity for someone looking to restore or rebuild in a quiet country setting close to town conveniences. This will be a great winter project, don't miss!

ⓘ 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: $1,637 · $136/mo
• Projected year-2 tax: $1,637 · $136/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 13 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $12,174
• − Mortgage interest: −$4,425
• − Property taxes: −$1,637
• − Insurance: −$395
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$2,298
• Taxable income: $1,471
• Est. tax owed @ 24.0%: −$353
• After-tax cash flow: $2,261/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 39
• NCES district ID: 2314794
• Math proficiency: 82% ▲ 55.00%
• Reading proficiency: 83% ▲ 39.00%
• Median HH income: $38,159
• Composite: 68.6/100
• National rank: #341
• State rank: #79 of 112 in ME

Livability — Caribou

• Score: 74/100
• State rank: #46
• US rank: #4849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caribou, ME
• City population: 9,107
• Population (ZIP): 9,107

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 (93%)
• Race & ethnicity: White 93% Two or more races 5%
• Common ancestry: Lithuanian 28% Slovak 3% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 7%

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: ▼ -50.06%
• Current HPI: 219.5142
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-10-13 Listed $79,000 MREIS

Property tax history

+2.9%/yr

Latest (2024): $1,637 · +9.7% YoY. Source: county tax records.