28 Vienna Rd · Chesterville, ME 04938

$240,000

4 bd · 2.0 ba · 2,185 sqft · MultiFamily public records · 9 Days on market

Built 1900 0.74 ac lot $110/sqft · 15% below area Est $284k · 16% under

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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).

• ARV discount +14.5/15.0
• Cash flow +13.1/30.0
• Appreciation +10.0/10.0
• Schools +6.7/10.0
• DSCR +3.9/10.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Livability +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

This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

Key facts

• Attached barn
• Raised garden beds
• 3 season porch

Tags

• CLASSIC MAINE FARMHOUSE
• UPDATED FARMHOUSE
• ATTACHED BARN
• CHICKEN COOP
• RAISED GARDEN BEDS
• 3 SEASON PORCH

Property features AI

Finance

• Other: Lot size approximately 0.74 acre; Zoned per town 11 Rural

Exterior

• Parking: On-site parking with 1–4 spaces; Attached garage present (no detached garage)
• Utilities: Utilities on; Electric with circuit breakers; Private sewer (septic tank)
• Home design: Single-family farmhouse / New Englander style; Multi-level home; Level entry; Facing direction not specified
• Construction: Metal roof; Above-grade finished area reported (2,200); Built details not specified
• Exterior features: Glassed-in porch; On-site barn(s); Public water

Interior

• Kitchen: Eat-in kitchen; Kitchen includes a heat stove
• Bedrooms: Primary bedroom on the first floor; Three additional bedrooms on the second floor
• Flooring: Laminate; Vinyl; Wood; Painted or stained floors
• Bathrooms: Two full bathrooms
• Heating & cooling: Direct vent heater; Heat pump heating and cooling; Pellet stove
• Interior features: Nine total rooms; Double pane windows; Storm doors; Basement with bulkhead and interior entry; Ceiling fans

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $-10 ($-123/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (16.6% below list).
• Recommended offer: $200k (16.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 90 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 $26k of equity ($2k loan paydown + $24k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,127 (16.6% 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. Built in 1900 — 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: 0.83% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $284,220
• List price: $240,000
• Delta: -15.56%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 & 112 Philbrick St	0.19mi	5/2.0 (+1)	2,376 (+9%)	14mo	$225,000	$95	60

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: 24.1%
• Equity multiple: 2.94×
• Total profit: $130,046
• Equity at exit: $216,211

10-year hold

• IRR: 21.4%
• Equity multiple: 6.71×
• Total profit: $383,456
• Equity at exit: $466,267

Cash invested: $67,200 (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: 90
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,001 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$233 /mo · $2,792/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-10

Break-even live

Break-even rent $2,014

Max offer price $238,189

Occupancy floor 96%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-09
   status Pending 1472-char remark
2. 2026-04-30
   listed $240,000 Active 1472-char remark
3. 2024-05-16
   status Pending 894-char remark

   Show marketing remark (894 chars)

   This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

4. 2024-05-15
   soldstatus $177,500 Closed 894-char remark

   Show marketing remark (894 chars)

   This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

5. 2024-04-13
   historical Active Under Contract 894-char remark

   Show marketing remark (894 chars)

   This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

6. 2024-03-27
   status Active 894-char remark

   Show marketing remark (894 chars)

   This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

7. 2024-03-12
   historical Active Under Contract 894-char remark

   Show marketing remark (894 chars)

   This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

8. 2024-03-01
   listed $189,000 Active 894-char remark

   Show marketing remark (894 chars)

   This 2200 square foot New England Farmhouse with 4 bedrooms, 2 baths and a barn has been updated. See the expansive list. You will be amazed! On the first floor there is a large kitchen with an island, 2020 cabinets and appliances. The living room boasts a vaulted ceiling. Conveniently, the primary bedroom with double glass doors leads to what could be a walk in closet or small office space. The enclosed wrap around porch is road side. Walk directly from the house, through a shed area with storage and into the barn. The second floor has three bedrooms, each with their own heat pump and a bathroom with a claw foot tub. This move in ready house is on . 74 acres and is centrally located near three major ski mountains, lakes, Farmington, Augusta, Auburn and Waterville. The Sandy River is also very nearby. Possibilities may include a home office, a boarding house or a vacation rental.

9. 2020-02-20
   soldstatus $29,500 Closed

   Show marketing remark (227 chars)

   11567 - Looking for a project? This large New England farmhouse awaits you! Great central location! Barn had a fire and home had water damage. Professionals have removed damage and prepped for reconstruction. Great opportunity!

10. 2020-01-27
    status Pending

    Show marketing remark (227 chars)

    11567 - Looking for a project? This large New England farmhouse awaits you! Great central location! Barn had a fire and home had water damage. Professionals have removed damage and prepped for reconstruction. Great opportunity!

11. 2019-12-09
    price $39,900

    Show marketing remark (227 chars)

    11567 - Looking for a project? This large New England farmhouse awaits you! Great central location! Barn had a fire and home had water damage. Professionals have removed damage and prepped for reconstruction. Great opportunity!

12. 2019-11-20
    price $44,900

    Show marketing remark (227 chars)

    11567 - Looking for a project? This large New England farmhouse awaits you! Great central location! Barn had a fire and home had water damage. Professionals have removed damage and prepped for reconstruction. Great opportunity!

13. 2019-10-01
    listed $54,000 Active

    Show marketing remark (227 chars)

    11567 - Looking for a project? This large New England farmhouse awaits you! Great central location! Barn had a fire and home had water damage. Professionals have removed damage and prepped for reconstruction. Great opportunity!

ⓘ 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: $2,792 · $233/mo
• Projected year-2 tax: $3,028 · $252/mo
• Expected delta: +$236/yr (+$20/mo · 8.5%)

ⓘ 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 4/10 Moderate 11% 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: $24,015
• − Mortgage interest: −$13,444
• − Property taxes: −$2,792
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − Depreciation: −$6,982
• Taxable loss: −$4,245
• Est. tax savings @ 24.0%: +$1,019
• After-tax cash flow: $896/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 — Chesterville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

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

+61.3% since first listed

20 events — show timeline

• 2026-06-09 Sold (MLS) $225,000 MREIS
• 2026-05-09 Pending — MREIS
• 2026-04-30 Listed $240,000 MREIS
• 2024-05-16 Pending — MREIS
• 2024-05-15 Sold (MLS) $177,500 MREIS
• 2024-04-13 Contingent — MREIS
• 2024-03-27 Relisted — MREIS
• 2024-03-12 Contingent — MREIS
• 2024-03-01 Listed $189,000 MREIS
• 2020-02-20 Sold (MLS) $29,500 MREIS
• 2020-01-27 Pending — MREIS
• 2019-12-09 Price Changed $39,900 MREIS
• 2019-11-20 Price Changed $44,900 MREIS
• 2019-10-01 Listed $54,000 MREIS
• 2016-09-09 Delisted — MREIS
• 2015-09-15 Listed $110,000 MREIS
• 2015-09-04 Delisted — MREIS
• 2015-03-05 Listed $119,000 MREIS
• 2013-02-14 Listed $125,000 MREIS
• 2011-09-22 Listed $139,500 MREIS

Property tax history

+7.1%/yr

Latest (2025): $2,792 · +3.1% YoY. Source: county tax records.