231 Morrill Pond Rd · Hartland, ME 04943

$225,000

3 bd · 1.0 ba · 1,248 sqft · MultiFamily · 3 Days on market

Built 1974 1.66 ac lot

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Why this score? — see what drove the D 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 +8.4/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.4/10.0

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

Comfortable ranch home near Morrill Pond is waiting for you. This 3 bedroom 1 bath home has a nice flow between rooms, wood floors, ceiling beams in the living room, a brick fireplace and freshly painted ceilings. There are heat pumps for a secondary source plus air conditioning. There is a 1 car garage on the house and large 3 car garage with separate driveway to store all your toys. This home has been well maintained and is ready for you to call it home.

Key facts

• Metal roof
• Brick fireplace
• One-floor living

Tags

• ONE-FLOOR LIVING
• HARDWOOD FLOORS
• BRICK FIREPLACE
• MINI-SPLIT HEAT PUMPS
• STANDBY GENERATOR
• METAL ROOF

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: Detached 3-car garage; Paved parking with 1–4 spaces
• Utilities: Private water; Private sewer; Electric with circuit breakers; Electric water heater; Utilities currently on
• Home design: Single family residence; Built in 1974
• Construction: Wood frame construction; Metal roof; Full unfinished basement with interior entry and doghouse access
• Exterior features: Rural setting; Paved road access

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the first floor; Bedroom 3 on the first floor; Bonus room on the first floor
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Heat pump (heating and cooling)
• Interior features: One-floor living; First-floor bedroom; Unfurnished; Generator; Seven total rooms; One fireplace
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $-291 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (36.2% below list).
• Recommended offer: $144k (36.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#120 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 29 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (6.7% local appreciation)).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $95k; list at $225k implies a 137% gain — meaningful room to come down on a strong offer.

Recommended offer $143,627 (36.2% 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 1974 — 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. Schools are F-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. 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?
6. 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.
7. 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.
8. 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: 0.64% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.54%
• DSCR: 0.75
• GRM: 13.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.89×
• Total profit: $56,009
• Equity at exit: $151,705

10-year hold

• IRR: 13.2%
• Equity multiple: 3.81×
• Total profit: $177,029
• Equity at exit: $284,433

Cash invested: $63,000 (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 04943

• Home prices YoY: 3.0%
• Active inventory: 29
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,436 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$152 /mo · $1,825/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-291

Break-even live

Break-even rent $1,805

Max offer price $173,575

Occupancy floor —

Sensitivity live

Price	-10% $-164	-5% $-227	+0% $-291	+5% $-355	+10% $-418
Rent	-10% $-405	-5% $-348	+0% $-291	+5% $-234	+10% $-178
Rate	-1.0pp $-178	-0.5pp $-234	base $-291	+0.5pp $-349	+1.0pp $-409

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-01
   statusdays on market $225,000 Pending 3 DOM
2. 2026-05-31
   days on market $225,000 Active 2 DOM
3. 2026-05-29
   listed $225,000 Active
4. 2017-11-13
   soldstatus $94,900 Sold 460-char remark

   Show marketing remark (460 chars)

   Comfortable ranch home near Morrill Pond is waiting for you. This 3 bedroom 1 bath home has a nice flow between rooms, wood floors, ceiling beams in the living room, a brick fireplace and freshly painted ceilings. There are heat pumps for a secondary source plus air conditioning. There is a 1 car garage on the house and large 3 car garage with separate driveway to store all your toys. This home has been well maintained and is ready for you to call it home.

5. 2017-09-18
   status Pending 460-char remark

   Show marketing remark (460 chars)

   Comfortable ranch home near Morrill Pond is waiting for you. This 3 bedroom 1 bath home has a nice flow between rooms, wood floors, ceiling beams in the living room, a brick fireplace and freshly painted ceilings. There are heat pumps for a secondary source plus air conditioning. There is a 1 car garage on the house and large 3 car garage with separate driveway to store all your toys. This home has been well maintained and is ready for you to call it home.

6. 2017-09-12
   listed $94,900 Active 460-char remark

   Show marketing remark (460 chars)

   Comfortable ranch home near Morrill Pond is waiting for you. This 3 bedroom 1 bath home has a nice flow between rooms, wood floors, ceiling beams in the living room, a brick fireplace and freshly painted ceilings. There are heat pumps for a secondary source plus air conditioning. There is a 1 car garage on the house and large 3 car garage with separate driveway to store all your toys. This home has been well maintained and is ready for you to call it home.

ⓘ 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: $1,825 · $152/mo
• Projected year-2 tax: $2,442 · $204/mo
• Expected delta: +$618/yr (+$51/mo · 33.8%)

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

Taxation est. · year 1

• Rental income: $17,235
• − Mortgage interest: −$12,603
• − Property taxes: −$1,825
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − Depreciation: −$6,545
• Taxable loss: −$7,621
• Est. tax savings @ 24.0%: +$1,829
• After-tax cash flow: $-1,664/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Hartland

• Score: 61/100
• State rank: #120
• US rank: #18210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,681

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 48,335 people
• By 2030: 46,268 · -4.3%
• By 2040: 41,276 · -14.6%
• By 2050: 36,137 · -25.2%
• By 2075: 26,408 · -45.4%
• By 2100: 18,836 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 8% Portuguese 7% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Somerset

• 2024 margin: Strong R (+27.1) · D 35.6% · R 62.7% · Other 1.7%
• 2008→2024 swing: -32.8pp toward R · 2008: 5.7pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+23.4 2016: R+22.8 2012: D+1.7 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.71%
• Current HPI: 230.2114
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+137.1% since first listed

4 events — show timeline

• 2026-05-29 Listed $225,000 MREIS
• 2017-11-13 Sold (MLS) $94,900 MREIS
• 2017-09-18 Pending — MREIS
• 2017-09-12 Listed $94,900 MREIS

Property tax history

+1.5%/yr

Latest (2025): $1,825 · +7.2% YoY. Source: county tax records.