315 Morrison Hill Rd · Farmington, ME 04938

$375,000

3 bd · 2.0 ba · 1,666 sqft · SingleFamily public records · 10 Days on market

Built 2004 5.44 ac lot Est $293k · 28% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Schools +6.7/10.0
• Cash flow +5.4/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

Key facts

• Outdoor recreation
• Natural light
• Large yard

Tags

• REMODELED THROUGHOUT
• NEW ROOF
• NATURAL LIGHT
• THOUGHTFULLY DESIGNED LAYOUT
• LARGE YARD
• OUTDOOR RECREATION

Property features AI

Exterior

• Parking: One-car garage with direct entry to living area; Additional gravel parking with 1–4 spaces
• Utilities: Private well water; Private sewer; Gas water heater; Electric with circuit breakers
• Home design: Single family modular home; Built in 2004
• Construction: Vinyl siding; Shingle roof; Modular construction; Full basement
• Exterior features: Near town; Wooded lot (approximately 5.44 acres)

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the first floor; Bedroom 3 on the first floor; Family room on the first floor; Living room on the first floor; Dining room on the first floor; Kitchen on the first floor
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Seven total rooms; First-floor bedroom; First-floor primary bedroom with bath; Bathtub; Interior full basement with interior entry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-810 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (38.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (46.8% below list).
• Recommended offer: $199k (46.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#18 in ME, #1,653 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A-; Watch: schools D, employment D-.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 92 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $40k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Franklin County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $250k; list at $375k implies a 50% gain — meaningful room to come down on a strong offer.

Recommended offer $199,335 (46.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.53% ✗
• Cap rate: 3.70%
• Cash-on-cash: -9.26%
• DSCR: 0.59
• GRM: 15.7

CMA / ARV

• ARV (on-the-fly): $293,216
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Corson Ln	0.08mi	3/1.0	1,660 (-0%)	5mo	$110,000	$66	88
182 Morrison Hill Rd	0.62mi	3/2.0	1,537 (-8%)	24mo	$270,000	$176	38

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: 17.8%
• Equity multiple: 2.45×
• Total profit: $152,546
• Equity at exit: $337,830

10-year hold

• IRR: 16.7%
• Equity multiple: 5.66×
• Total profit: $489,601
• Equity at exit: $728,543

Cash invested: $105,000 (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 04938

• Home prices YoY: 6.4%
• Active inventory: 92
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $1,993 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$262 /mo · $3,144/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-810

Break-even live

Break-even rent $3,019

Max offer price $231,902

Occupancy floor —

Sensitivity live

Price	-10% $-598	-5% $-704	+0% $-810	+5% $-916	+10% $-1,022
Rent	-10% $-968	-5% $-889	+0% $-810	+5% $-731	+10% $-653
Rate	-1.0pp $-621	-0.5pp $-715	base $-810	+0.5pp $-907	+1.0pp $-1,006

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-12
   statusdays on market $375,000 Pending 10 DOM
2. 2026-06-09
   days on market $375,000 Active 8 DOM
3. 2026-06-08
   days on market $375,000 Active 7 DOM
4. 2026-06-07
   days on market $375,000 Active 6 DOM
5. 2026-06-07
   days on market $375,000 Active 5 DOM
6. 2026-06-04
   days on market $375,000 Active 2 DOM
7. 2026-06-02
   status $375,000 Active 1 DOM
8. 2026-05-20
   status Pending
9. 2026-05-18
   listed $375,000 Active
10. 2024-04-11
    status Pending 583-char remark

    Show marketing remark (583 chars)

    1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

11. 2024-04-10
    soldstatus $250,000 Closed 583-char remark

    Show marketing remark (583 chars)

    1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

12. 2024-02-25
    historical Active Under Contract 583-char remark

    Show marketing remark (583 chars)

    1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

13. 2024-02-07
    price $259,900 583-char remark

    Show marketing remark (583 chars)

    1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

14. 2024-01-08
    price $269,000 583-char remark

    Show marketing remark (583 chars)

    1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

15. 2023-12-06
    listed $279,000 Active 583-char remark

    Show marketing remark (583 chars)

    1068 - This charming modular home is perfect for families and outdoor enthusiast alike. Enjoy the beautiful family room full of sunshine from the 270 degrees of windows. Its unique floor plan allows for plenty of storage for your outdoor gear and equipment. The home sits on 6 +/- acres, perfectly located next to Morrison Hill Orchard and Titcomb Mountain. The property allows for country living with in-town amenities of shopping, hospital, and schools being an under 10-minute drive to Downtown Farmington. This home has something for everyone. Call me to book your showing today.

ⓘ 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: $3,144 · $262/mo
• Projected year-2 tax: $4,122 · $344/mo
• Expected delta: +$978/yr (+$82/mo · 31.1%)

ⓘ 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 2/10 Low 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,920
• − Mortgage interest: −$21,006
• − Property taxes: −$3,144
• − Insurance: −$1,875
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − Depreciation: −$10,909
• Taxable loss: −$16,841
• Est. tax savings @ 24.0%: +$4,042
• After-tax cash flow: $-5,679/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 09
• NCES district ID: 2314809
• Math proficiency: 78% ▲ 48.00%
• Reading proficiency: 82% ▲ 31.00%
• Median HH income: $40,202
• Composite: 66.71/100
• National rank: #409
• State rank: #88 of 112 in ME

Livability — Farmington

• Score: 80/100
• State rank: #18
• US rank: #1653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,368

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 28,948 people
• By 2030: 27,889 · -3.7%
• By 2040: 25,275 · -12.7%
• By 2050: 22,770 · -21.3%
• By 2075: 18,980 · -34.4%
• By 2100: 16,816 · -41.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Italian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+8.2) · D 44.8% · R 53.0% · Other 2.2%
• 2008→2024 swing: -28.5pp toward R · 2008: 20.3pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+3.9 2016: R+5.5 2012: D+18.5 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.53%
• Current HPI: 325.7666
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+34.4% since first listed

8 events — show timeline

• 2026-05-20 Pending — MREIS
• 2026-05-18 Listed $375,000 MREIS
• 2024-04-11 Pending — MREIS
• 2024-04-10 Sold (MLS) $250,000 MREIS
• 2024-02-25 Contingent — MREIS
• 2024-02-07 Price Changed $259,900 MREIS
• 2024-01-08 Price Changed $269,000 MREIS
• 2023-12-06 Listed $279,000 MREIS

Property tax history

+2.4%/yr

Latest (2025): $3,144 · +4.9% YoY. Source: county tax records.