79 N Main St · Andover, ME 04216

$295,000

4 bd · 1.0 ba · 672 sqft · MultiFamily public records · 82 Days on market

Built 1900 Average condition 0.52 ac lot ↓ 9% since listing

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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).

• Cash flow +17.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Appreciation +5.0/10.0
• 1% rule +4.1/10.0
• Schools +4.0/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Livability +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

Beautiful and well maintained circa 1900 home with a ton of improvements/ All of the exterior doors are new and also storm doors with screens. New light fixtures and ceiling fans throughout, amazing summer room with handicapped ramp, appliances new in 2021, new hybrid hot water tank and new modern oil tank. Everything has been well serviced and maintained. This home shows nicely. Large kitchen with pantry room off from it, which also has the laundry area. Open dining room and living room with newer flooring. Nice space, with lots of sunlight. First floor bedroom, first floor bath, plus the large summer room with windows overlooking the back side yard. Second floor has 2 large bedrooms, a walk in closet and walk in huge attic , great for storing anything you desire. 2nd floor also has another smaller bedroom with closet. Also, if you don't have enough storage space, take advantage of the walk up attic! This space is amazing. Full basement with boiler, water heater and great new modern oil tank! Attached barn with 1 overhead door for 1 car. Plenty of workshop space plus a walk up stairway to the second floor that that barn. Nice yard, with the back yard, mostly fenced in. There is even a doggie door out of the summer room with a portion fenced in for your pet. , Very quiet area. School system in Andover is for grades k-5 and then you have a choice to go to either Bethel or Rumford for 6-12. Town water and private septic. This is a home you won't want to pass up if you love older homes with character. Should qualify for all types of loans.

Key facts

• New exterior doors
• New ceiling fans
• New appliances

Tags

• NEW EXTERIOR DOORS
• NEW STORM DOORS
• NEW LIGHT FIXTURES
• NEW CEILING FANS
• NEW APPLIANCES
• NEW HYBRID HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $295k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (8.6% below list).
• Recommended offer: $270k (8.6% 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.
• Andover Public Schools (rural): math 30% / reading 60% proficiency, ranked #82 of 185 in ME (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andover Elementary School (math 75% / reading 75%, grade A, #224 of 294 statewide, top 77%, 30 students, 30% FRL) — zoned schools average 30% FRL vs 53% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 75% at this address vs 45% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Andover Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 12 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Oxford County population projected at -21% 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 $83k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $269,600 (8.6% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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: 0.91% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.60×
• Total profit: $49,279
• Equity at exit: $132,645

10-year hold

• IRR: 12.7%
• Equity multiple: 2.89×
• Total profit: $156,115
• Equity at exit: $204,421

Cash invested: $82,600 (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 04216

• Active inventory: 12
• Price-to-rent: 27.4×

Monthly cashflow live

• Estimated rent: $2,696 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$244 /mo · $2,923/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $216

Break-even live

Break-even rent $2,422

Max offer price $295,000

Occupancy floor 87%

Sensitivity live

Price	-10% $383	-5% $300	+0% $216	+5% $133	+10% $49
Rent	-10% $3	-5% $110	+0% $216	+5% $323	+10% $429
Rate	-1.0pp $365	-0.5pp $291	base $216	+0.5pp $140	+1.0pp $62

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,697
Total (3 units)			$2,696

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-22
   price $295,000 1570-char remark

   Show marketing remark (1570 chars)

   Beautiful and well maintained circa 1900 home with a ton of improvements/ All of the exterior doors are new and also storm doors with screens. New light fixtures and ceiling fans throughout, amazing summer room with handicapped ramp, appliances new in 2021, new hybrid hot water tank and new modern oil tank. Everything has been well serviced and maintained. This home shows nicely. Large kitchen with pantry room off from it, which also has the laundry area. Open dining room and living room with newer flooring. Nice space, with lots of sunlight. First floor bedroom, first floor bath, plus the large summer room with windows overlooking the back side yard. Second floor has 2 large bedrooms, a walk in closet and walk in huge attic , great for storing anything you desire. 2nd floor also has another smaller bedroom with closet. Also, if you don't have enough storage space, take advantage of the walk up attic! This space is amazing. Full basement with boiler, water heater and great new modern oil tank! Attached barn with 1 overhead door for 1 car. Plenty of workshop space plus a walk up stairway to the second floor that that barn. Nice yard, with the back yard, mostly fenced in. There is even a doggie door out of the summer room with a portion fenced in for your pet. , Very quiet area. School system in Andover is for grades k-5 and then you have a choice to go to either Bethel or Rumford for 6-12. Town water and private septic. This is a home you won't want to pass up if you love older homes with character. Should qualify for all types of loans.

2. 2026-03-19
   price $315,000 1570-char remark

   Show marketing remark (1570 chars)

   Beautiful and well maintained circa 1900 home with a ton of improvements/ All of the exterior doors are new and also storm doors with screens. New light fixtures and ceiling fans throughout, amazing summer room with handicapped ramp, appliances new in 2021, new hybrid hot water tank and new modern oil tank. Everything has been well serviced and maintained. This home shows nicely. Large kitchen with pantry room off from it, which also has the laundry area. Open dining room and living room with newer flooring. Nice space, with lots of sunlight. First floor bedroom, first floor bath, plus the large summer room with windows overlooking the back side yard. Second floor has 2 large bedrooms, a walk in closet and walk in huge attic , great for storing anything you desire. 2nd floor also has another smaller bedroom with closet. Also, if you don't have enough storage space, take advantage of the walk up attic! This space is amazing. Full basement with boiler, water heater and great new modern oil tank! Attached barn with 1 overhead door for 1 car. Plenty of workshop space plus a walk up stairway to the second floor that that barn. Nice yard, with the back yard, mostly fenced in. There is even a doggie door out of the summer room with a portion fenced in for your pet. , Very quiet area. School system in Andover is for grades k-5 and then you have a choice to go to either Bethel or Rumford for 6-12. Town water and private septic. This is a home you won't want to pass up if you love older homes with character. Should qualify for all types of loans.

3. 2026-03-03
   listed $325,000 Active 1570-char remark

   Show marketing remark (1570 chars)

   Beautiful and well maintained circa 1900 home with a ton of improvements/ All of the exterior doors are new and also storm doors with screens. New light fixtures and ceiling fans throughout, amazing summer room with handicapped ramp, appliances new in 2021, new hybrid hot water tank and new modern oil tank. Everything has been well serviced and maintained. This home shows nicely. Large kitchen with pantry room off from it, which also has the laundry area. Open dining room and living room with newer flooring. Nice space, with lots of sunlight. First floor bedroom, first floor bath, plus the large summer room with windows overlooking the back side yard. Second floor has 2 large bedrooms, a walk in closet and walk in huge attic , great for storing anything you desire. 2nd floor also has another smaller bedroom with closet. Also, if you don't have enough storage space, take advantage of the walk up attic! This space is amazing. Full basement with boiler, water heater and great new modern oil tank! Attached barn with 1 overhead door for 1 car. Plenty of workshop space plus a walk up stairway to the second floor that that barn. Nice yard, with the back yard, mostly fenced in. There is even a doggie door out of the summer room with a portion fenced in for your pet. , Very quiet area. School system in Andover is for grades k-5 and then you have a choice to go to either Bethel or Rumford for 6-12. Town water and private septic. This is a home you won't want to pass up if you love older homes with character. Should qualify for all types of loans.

ⓘ 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: $2,923 · $244/mo
• Projected year-2 tax: $3,468 · $289/mo
• Expected delta: +$544/yr (+$45/mo · 18.6%)

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

Taxation est. · year 1

• Rental income: $32,352
• − Mortgage interest: −$16,525
• − Property taxes: −$2,923
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,588
• − Management: −$2,588
• − Depreciation: −$8,582
• Taxable loss: −$2,329
• Est. tax savings @ 24.0%: +$559
• After-tax cash flow: $3,155/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This multi-family home requires moderate renovations to modernize the kitchen and flooring, and freshen up the interior walls. With these updates, it has the potential to significantly increase its resale and rental value.

Repairs flagged

• Major kitchen cabinets — dated and in need of replacement
• Major kitchen countertops — dated and in need of replacement
• Major kitchen appliances — dated and in need of replacement
• Major kitchen flooring — dated and in need of replacement
• Major dining room flooring — dated and in need of replacement
• Major living room flooring — dated and in need of replacement
• Major interior walls — dated and in need of fresh paint

Value-add opportunities

• Both modern kitchen with new cabinets, countertops, and appliances — modern kitchen will appeal to both buyers and renters
• Both new flooring throughout — new flooring will improve the overall appearance and functionality of the home
• Both fresh paint on interior walls — fresh paint will make the home more appealing and easier to sell

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Major	$15,000–50,000
kitchen countertops · dated and in need of replacement	Major	$15,000–50,000
kitchen appliances · dated and in need of replacement	Major	$15,000–50,000
kitchen flooring · dated and in need of replacement	Major	$15,000–50,000
dining room flooring · dated and in need of replacement	Major	$15,000–50,000
living room flooring · dated and in need of replacement	Major	$15,000–50,000
interior walls · dated and in need of fresh paint	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both modern kitchen with new cabinets, countertops, and appliances — modern kitchen will appeal to both buyers and renters ↑
• Both new flooring throughout — new flooring will improve the overall appearance and functionality of the home ↑
• Both fresh paint on interior walls — fresh paint will make the home more appealing and easier to sell ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Andover Public Schools
• NCES district ID: 2314823
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $44,234
• Composite: 40.25/100
• National rank: #7803
• State rank: #82 of 185 in ME

Livability — Andover

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

Census & demographics

• Population (ZIP): 602

Population outlook (Oxford County) Hauer SSP2

• Today (2025): 55,853 people
• By 2030: 54,190 · -3.0%
• By 2040: 49,484 · -11.4%
• By 2050: 43,958 · -21.3%
• By 2075: 32,308 · -42.2%
• By 2100: 21,858 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 3%
• Common ancestry: Lithuanian 13% Slovak 5% Scotch-Irish 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 98% English-only · Chinese 2% Other Indo-European 1%

Political lean MEDSL · Oxford

• 2024 margin: R (+12.9) · D 42.7% · R 55.6% · Other 1.7%
• 2008→2024 swing: -28.9pp toward R · 2008: 16.0pp · 2024: -12.9pp
• All cycles: 2024: R+12.9 2020: R+8.8 2016: R+13.0 2012: D+14.9 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

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

Price history

-9.2% since first listed

3 events — show timeline

• 2026-04-22 Price Changed $295,000 MREIS
• 2026-03-19 Price Changed $315,000 MREIS
• 2026-03-03 Listed $325,000 MREIS

Property tax history

+18.9%/yr

Latest (2025): $2,923 · +18.9% YoY. Source: county tax records.