38 Aroostook Scenic Hwy · Hersey, ME 04780

$90,000

3 bd · 1.0 ba · 1,600 sqft · MultiFamily · 69 Days on market

Built 1991 9.40 ac lot $56/sqft · 44% below area Est $159k · 44% under ↓ 10% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Schools +3.8/10.0
• 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

Here's an opportunity to own a nice tract of land in Aroostook/Penobscot Counties. This home has property in both counties! Property has a small pond, fairly level with some open areas and some woods. The home was built in the 90's and added onto in 2011, the larger part of the house is in need of renovation/finish work and is being sold in as-is condition. This could be a great opportunity to own a Maine property, Take a Look.

Key facts

• 9.4 acre lot
• 5 parking spots
• Built 1991

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• RSU 50 (rural): math 30% / reading 55% proficiency, ranked #103 of 185 in ME (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.84% ✓
• Cap rate: 15.11%
• Cash-on-cash: 31.50%
• DSCR: 2.40
• GRM: 4.5

CMA / ARV

• ARV (median comp): $159,361
• List price: $90,000
• Delta: -43.52%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 37.3%
• Equity multiple: 3.10×
• Total profit: $53,014
• Equity at exit: $40,468

10-year hold

• IRR: 37.4%
• Equity multiple: 6.15×
• Total profit: $129,748
• Equity at exit: $62,366

Cash invested: $25,200 (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 04780

• Active inventory: 10
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$138 /mo · $1,656/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $661

Break-even live

Break-even rent $820

Max offer price $90,000

Occupancy floor 55%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $90,000 Active 69 DOM
2. 2026-06-17
   days on market $90,000 Active 68 DOM
3. 2026-06-16
   days on market $90,000 Active 67 DOM
4. 2026-06-15
   days on market $90,000 Active 66 DOM
5. 2026-06-13
   days on market $90,000 Active 64 DOM
6. 2026-06-12
   days on market $90,000 Active 63 DOM
7. 2026-06-09
   days on market $90,000 Active 60 DOM
8. 2026-06-08
   days on market $90,000 Active 59 DOM
9. 2026-06-07
   days on market $90,000 Active 58 DOM
10. 2026-06-05
    days on market $90,000 Active 56 DOM
11. 2026-06-04
    days on market $90,000 Active 54 DOM
12. 2026-06-02
    days on market $90,000 Active 53 DOM
13. 2026-06-01
    days on market $90,000 Active 52 DOM
14. 2026-05-31
    days on market $90,000 Active 51 DOM
15. 2026-05-31
    days on market $90,000 Active 50 DOM
16. 2026-05-11
    price $90,000 433-char remark

    Show marketing remark (433 chars)

    Here's an opportunity to own a nice tract of land in Aroostook/Penobscot Counties. This home has property in both counties! Property has a small pond, fairly level with some open areas and some woods. The home was built in the 90's and added onto in 2011, the larger part of the house is in need of renovation/finish work and is being sold in as-is condition. This could be a great opportunity to own a Maine property, Take a Look.

17. 2026-04-10
    listed $100,000 Active 433-char remark

    Show marketing remark (433 chars)

    Here's an opportunity to own a nice tract of land in Aroostook/Penobscot Counties. This home has property in both counties! Property has a small pond, fairly level with some open areas and some woods. The home was built in the 90's and added onto in 2011, the larger part of the house is in need of renovation/finish work and is being sold in as-is condition. This could be a great opportunity to own a Maine property, Take a Look.

ⓘ 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: $1,656 · $138/mo
• Projected year-2 tax: $1,656 · $138/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 · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $19,883
• − Mortgage interest: −$5,041
• − Property taxes: −$1,656
• − Insurance: −$450
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$2,618
• Taxable income: $6,936
• Est. tax owed @ 24.0%: −$1,665
• After-tax cash flow: $6,273/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 50
• NCES district ID: 2314806
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $36,091
• Composite: 37.51/100
• National rank: #8882
• State rank: #103 of 185 in ME

Livability — Hersey

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

Census & demographics

• Population (ZIP): 882

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 (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1% Native American 1%
• Common ancestry: Lithuanian 12% Slovak 7% German 6%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · German/W. Germanic 9% Spanish 1% Russian/Polish/Slavic 0%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-10.0% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $90,000 MREIS
• 2026-04-10 Listed $100,000 MREIS

Property tax history

+5.0%/yr

Latest (2024): $1,656 · +9.2% YoY. Source: county tax records.