None · Augusta, ME 04363

$165,000

2 bd · 1.0 ba · 1,200 sqft · Other · 231 Days on market

Built 1920 0.50 ac lot $138/sqft · 48% below area Est $317k · 48% under ↓ 11% 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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Appreciation +10.0/10.0
• Schools +7.3/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1920s Two Bedroom One Bath Home with hardwood floors throughout. All one floor living waiting for your updating. Affordable home for a residence or would be a great business location. Get your home-based business out of the house and into a great visible location!! (One car attached garage in disrepair and should be removed)

Key facts

• Visible location
• One floor living
• Business location

Tags

• HARDWOOD FLOORS
• ONE FLOOR LIVING
• BUSINESS LOCATION
• VISIBLE LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $165k.

Deal economics

• At list price, monthly cash flow is $-51 ($-606/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (23.1% below list).
• Recommended offer: $127k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.6% in Augusta — 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 81/100 on livability (#15 in ME, #1,476 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D-, employment F.
• 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: 28 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,955 (23.1% 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. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• GRM: 10.8

CMA / ARV

• ARV (median comp): $317,410
• List price: $165,000
• Delta: -48.02%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.87×
• Total profit: $86,613
• Equity at exit: $148,645

10-year hold

• IRR: 20.8%
• Equity multiple: 6.57×
• Total profit: $257,522
• Equity at exit: $320,559

Cash invested: $46,200 (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 04363

• Home prices YoY: 4.3%
• Active inventory: 28
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,270 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$119 /mo · $1,433/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-51

Break-even live

Break-even rent $1,333

Max offer price $156,079

Occupancy floor 99%

Sensitivity live

Price	-10% $43	-5% $-4	+0% $-51	+5% $-97	+10% $-144
Rent	-10% $-151	-5% $-101	+0% $-51	+5% $0	+10% $50
Rate	-1.0pp $33	-0.5pp $-9	base $-51	+0.5pp $-93	+1.0pp $-137

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $165,000 Active 231 DOM
2. 2026-06-19
   days on market $165,000 Active 229 DOM
3. 2026-06-18
   days on market $165,000 Active 228 DOM
4. 2026-06-17
   days on market $165,000 Active 227 DOM
5. 2026-06-16
   days on market $165,000 Active 226 DOM
6. 2026-06-15
   days on market $165,000 Active 225 DOM
7. 2026-06-14
   days on market $165,000 Active 223 DOM
8. 2026-06-12
   days on market $165,000 Active 222 DOM
9. 2026-06-09
   days on market $165,000 Active 219 DOM
10. 2026-06-08
    days on market $165,000 Active 218 DOM
11. 2026-06-07
    days on market $165,000 Active 217 DOM
12. 2026-06-05
    days on market $165,000 Active 214 DOM
13. 2026-06-02
    days on market $165,000 Active 212 DOM
14. 2026-06-01
    days on market $165,000 Active 211 DOM
15. 2026-05-31
    days on market $165,000 Active 210 DOM
16. 2026-05-30
    days on market $165,000 Active 209 DOM
17. 2026-04-30
    status Active 327-char remark

    Show marketing remark (327 chars)

    1920s Two Bedroom One Bath Home with hardwood floors throughout. All one floor living waiting for your updating. Affordable home for a residence or would be a great business location. Get your home-based business out of the house and into a great visible location!! (One car attached garage in disrepair and should be removed)

18. 2026-04-25
    historical 327-char remark

    Show marketing remark (327 chars)

    1920s Two Bedroom One Bath Home with hardwood floors throughout. All one floor living waiting for your updating. Affordable home for a residence or would be a great business location. Get your home-based business out of the house and into a great visible location!! (One car attached garage in disrepair and should be removed)

19. 2026-03-18
    price $165,000 327-char remark

    Show marketing remark (327 chars)

    1920s Two Bedroom One Bath Home with hardwood floors throughout. All one floor living waiting for your updating. Affordable home for a residence or would be a great business location. Get your home-based business out of the house and into a great visible location!! (One car attached garage in disrepair and should be removed)

20. 2025-12-10
    price $175,000 327-char remark

    Show marketing remark (327 chars)

    1920s Two Bedroom One Bath Home with hardwood floors throughout. All one floor living waiting for your updating. Affordable home for a residence or would be a great business location. Get your home-based business out of the house and into a great visible location!! (One car attached garage in disrepair and should be removed)

21. 2025-10-28
    listed $185,000 Active 327-char remark

    Show marketing remark (327 chars)

    1920s Two Bedroom One Bath Home with hardwood floors throughout. All one floor living waiting for your updating. Affordable home for a residence or would be a great business location. Get your home-based business out of the house and into a great visible location!! (One car attached garage in disrepair and should be removed)

ⓘ 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: $1,433 · $119/mo
• Projected year-2 tax: $1,838 · $153/mo
• Expected delta: +$406/yr (+$34/mo · 28.3%)

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

Taxation est. · year 1

• Rental income: $15,235
• − Mortgage interest: −$9,243
• − Property taxes: −$1,433
• − Insurance: −$825
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$4,800
• Taxable loss: −$3,504
• Est. tax savings @ 24.0%: +$841
• After-tax cash flow: $235/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 — Augusta

• Score: 81/100
• State rank: #15
• US rank: #1476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 26,690
• Population (ZIP): 2,666

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 12% Italian 4% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.50%
• Current HPI: 254.0093
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-10.8% since first listed

5 events — show timeline

• 2026-04-30 Relisted — MREIS
• 2026-04-25 Delisted — MREIS
• 2026-03-18 Price Changed $165,000 MREIS
• 2025-12-10 Price Changed $175,000 MREIS
• 2025-10-28 Listed $185,000 MREIS

Property tax history

+3.2%/yr

Latest (2025): $1,433 · +2.2% YoY. Source: county tax records.