590 Patricktown Rd · Somerville, ME 04348

$89,000

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 68 Days on market

Built 1950 0.32 ac lot $79/sqft · 65% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• Appreciation +5.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your tools and your vision to this diamond in the rough! Boasting strong bones, this home is the perfect candidate for a total transformation. Located in a peaceful rural setting, you get the best of both worlds: the rural home living with a short drive to the MidCoast's stunning harbors or Augusta's bustling shopping and dining. Surrounded by some of the region's best recreational waters, this is a dream spot for outdoor enthusiasts. Whether you're looking to flip or build immediate equity in a rising market, this As-Is opportunity is ready for its next chapter.

Key facts

• 0.32 acre lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• RSU 12 (rural): math 86% / reading 86% proficiency, ranked #50 of 112 in ME (top 45%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 40 active listings in the ZIP; 158 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($615 loan paydown + $1k appreciation (1.2% local appreciation)).
• Lincoln County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.47% ✓
• Cap rate: 12.70%
• Cash-on-cash: 22.88%
• DSCR: 2.02
• GRM: 5.7

CMA / ARV

• ARV (median comp): $251,856
• List price: $89,000
• Delta: -64.66%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

1.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.31×
• Total profit: $32,694
• Equity at exit: $31,211

10-year hold

• IRR: 27.9%
• Equity multiple: 4.41×
• Total profit: $85,063
• Equity at exit: $42,124

Cash invested: $24,920 (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 04348

• Home prices YoY: 0.5%
• Active inventory: 40
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$56 /mo · $677/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $475

Break-even live

Break-even rent $709

Max offer price $89,000

Occupancy floor 59%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $89,000 Active 68 DOM
2. 2026-06-18
   days on market $89,000 Active 67 DOM
3. 2026-06-17
   days on market $89,000 Active 66 DOM
4. 2026-06-16
   days on market $89,000 Active 65 DOM
5. 2026-06-15
   days on market $89,000 Active 64 DOM
6. 2026-06-14
   days on market $89,000 Active 62 DOM
7. 2026-06-12
   days on market $89,000 Active 61 DOM
8. 2026-06-09
   days on market $89,000 Active 58 DOM
9. 2026-06-08
   days on market $89,000 Active 57 DOM
10. 2026-06-07
    days on market $89,000 Active 56 DOM
11. 2026-06-05
    days on market $89,000 Active 53 DOM
12. 2026-06-02
    days on market $89,000 Active 51 DOM
13. 2026-06-01
    days on market $89,000 Active 50 DOM
14. 2026-05-31
    days on market $89,000 Active 49 DOM
15. 2026-05-30
    days on market $89,000 Active 48 DOM
16. 2026-04-12
    listed $89,000 Active 575-char remark

    Show marketing remark (575 chars)

    Bring your tools and your vision to this diamond in the rough! Boasting strong bones, this home is the perfect candidate for a total transformation. Located in a peaceful rural setting, you get the best of both worlds: the rural home living with a short drive to the MidCoast's stunning harbors or Augusta's bustling shopping and dining. Surrounded by some of the region's best recreational waters, this is a dream spot for outdoor enthusiasts. Whether you're looking to flip or build immediate equity in a rising market, this As-Is opportunity is ready for its next chapter.

ⓘ 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: $677 · $56/mo
• Projected year-2 tax: $944 · $79/mo
• Expected delta: +$267/yr (+$22/mo · 39.4%)

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

Taxation est. · year 1

• Rental income: $15,728
• − Mortgage interest: −$4,985
• − Property taxes: −$677
• − Insurance: −$445
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$2,589
• Taxable income: $4,515
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $4,619/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 12
• NCES district ID: 2314780
• Math proficiency: 86% ▲ 58.00%
• Reading proficiency: 86% ▲ 35.00%
• Median HH income: $49,792
• Composite: 72.62/100
• National rank: #197
• State rank: #50 of 112 in ME

Livability — Somerville

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

Census & demographics

• Population (ZIP): 3,497

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 33,059 people
• By 2030: 32,050 · -3.1%
• By 2040: 29,490 · -10.8%
• By 2050: 27,201 · -17.7%
• By 2075: 24,598 · -25.6%
• By 2100: 21,989 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2% Black 1%
• Common ancestry: Slovak 11% Lithuanian 9% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · Lincoln

• 2024 margin: D (+11.2) · D 54.6% · R 43.4% · Other 2.0%
• 2008→2024 swing: -0.8pp no change · 2008: 12.0pp · 2024: 11.2pp
• All cycles: 2024: D+11.2 2020: D+10.3 2016: D+2.4 2012: D+11.7 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.18%
• Current HPI: 262.1476
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-12 Listed $89,000 MREIS

Property tax history

+2.5%/yr

Latest (2025): $677 · -7.8% YoY. Source: county tax records.