28 Hammond St · Caribou, ME 04736

$45,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 9 Days on market

Built 1940 8,712 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Potential for walk up attic to be finished for additional space. Metal roof.

Key facts

• New electrical panel
• 8,712 sq ft lot
• Built 1940

Tags

• NEW ELECTRICAL PANEL
• FULL INTERIOR RENOVATION
• QUIET RESIDENTIAL NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 17.6% vs local median 3.6% 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $13k; list at $45k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.31% ✓
• Cap rate: 17.62%
• Cash-on-cash: 40.47%
• DSCR: 2.80
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $142,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Glenn St	0.35mi	2/1.0 (-1)	1,040 (+2%)	6mo	$135,000	$130	70
7 Liberty St	0.27mi	3/1.0	1,078 (+6%)	14mo	$165,000	$153	66
33 Midland St	0.53mi	2/1.0 (-1)	1,071 (+5%)	4mo	$150,000	$140	58
27 Hillcrest Ave	0.47mi	4/1.0 (+1)	1,036 (+2%)	15mo	$118,500	$114	58
25 Washington St	0.51mi	3/1.0	1,050 (+3%)	17mo	$205,000	$195	57
80 Garden Cir	0.53mi	3/1.0	1,092 (+7%)	10mo	$205,000	$188	55
15 Glendale Rd	0.43mi	2/1.0 (-1)	900 (-12%)	1mo	$162,000	$180	55
33 Coolidge Ave	0.54mi	2/1.5 (-1)	1,100 (+8%)	1mo	$189,900	$173	54
23 Hillcrest Ave	0.46mi	3/1.0	940 (-8%)	15mo	$61,500	$65	53
101 Glenn St	0.41mi	3/1.0	928 (-9%)	16mo	$89,000	$96	52
37 Pioneer Ave	0.62mi	4/1.0 (+1)	1,080 (+6%)	17mo	$150,000	$139	42
179 Limestone St	0.65mi	2/1.0 (-1)	880 (-14%)	8mo	$40,000	$45	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 37.0%
• Equity multiple: 2.57×
• Total profit: $19,839
• Equity at exit: $6,710

10-year hold

• IRR: 43.6%
• Equity multiple: 5.16×
• Total profit: $52,400
• Equity at exit: $3,891

Cash invested: $12,600 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,040 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$142 /mo · $1,699/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $425

Break-even live

Break-even rent $502

Max offer price $45,000

Occupancy floor 54%

Sensitivity live

Price	-10% $450	-5% $438	+0% $425	+5% $412	+10% $399
Rent	-10% $343	-5% $384	+0% $425	+5% $466	+10% $507
Rate	-1.0pp $448	-0.5pp $436	base $425	+0.5pp $413	+1.0pp $401

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-02-13
   status Pending
2. 2026-02-04
   listed $45,000 Active
3. 2017-08-18
   soldstatus $13,000 Sold 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

4. 2017-07-25
   status Pending 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

5. 2017-07-14
   price $18,000 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

6. 2017-06-08
   price $19,900 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

7. 2017-05-11
   price $24,900 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

8. 2017-05-11
   status Active 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

9. 2017-05-01
   historical 76-char remark

   Show marketing remark (76 chars)

   Potential for walk up attic to be finished for additional space. Metal roof.

10. 2017-01-26
    listed $39,900 Active 76-char remark

    Show marketing remark (76 chars)

    Potential for walk up attic to be finished for additional space. Metal roof.

ⓘ 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: $1,699 · $142/mo
• Projected year-2 tax: $1,699 · $142/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 2/10 Low 7 d/yr ≥87°F today · 15 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: $12,474
• − Mortgage interest: −$2,521
• − Property taxes: −$1,699
• − Insurance: −$225
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$1,309
• Taxable income: $4,725
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $3,965/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

+12.8% since first listed

10 events — show timeline

• 2026-02-13 Pending — MREIS
• 2026-02-04 Listed $45,000 MREIS
• 2017-08-18 Sold (MLS) $13,000 MREIS
• 2017-07-25 Pending — MREIS
• 2017-07-14 Price Changed $18,000 MREIS
• 2017-06-08 Price Changed $19,900 MREIS
• 2017-05-11 Price Changed $24,900 MREIS
• 2017-05-11 Relisted — MREIS
• 2017-05-01 Delisted — MREIS
• 2017-01-26 Listed $39,900 MREIS

Property tax history

+3.6%/yr

Latest (2024): $1,699 · +9.8% YoY. Source: county tax records.