1 Waterville Rd · Belfast, ME 04915

$99,900

2 bd · 1.0 ba · 420 sqft · SingleFamily public records · 99 Days on market

Built 1930 0.33 ac lot $238/sqft · at area comps

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOME IS CONDEMNED. See city code office for what can be done. DON't ENTER STRUCTURE AS IT IS NOT SAFE BEING SOLD AS. IS

Key facts

• 0.33 acre lot
• Garage
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 2.5% in Belfast — 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 82/100 on livability (#14 in ME, #1,247 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute C-, schools D+, amenities F.
• RSU 71 (town): math 79% / reading 82% proficiency, ranked #85 of 112 in ME (top 76%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 119 active listings in the ZIP; 143 units permitted in Waldo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Waldo County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $100k implies a 732% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1930 — 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. 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?
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 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: 1.42% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.23%
• DSCR: 1.86
• GRM: 5.9

CMA / ARV

• ARV (median comp): $216,446
• List price: $99,900
• Delta: -53.85%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.2%
• Equity multiple: 1.44×
• Total profit: $12,372
• Equity at exit: $14,895

10-year hold

• IRR: 20.2%
• Equity multiple: 2.70×
• Total profit: $47,579
• Equity at exit: $8,638

Cash invested: $27,972 (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 04915

• Home prices YoY: -15.1%
• Active inventory: 119
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$107 /mo · $1,286/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $448

Break-even live

Break-even rent $851

Max offer price $99,900

Occupancy floor 63%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $99,900 Active 99 DOM
2. 2026-06-17
   days on market $99,900 Active 98 DOM
3. 2026-06-16
   days on market $99,900 Active 97 DOM
4. 2026-06-15
   days on market $99,900 Active 96 DOM
5. 2026-06-13
   days on market $99,900 Active 94 DOM
6. 2026-06-12
   days on market $99,900 Active 93 DOM
7. 2026-06-09
   days on market $99,900 Active 90 DOM
8. 2026-06-08
   days on market $99,900 Active 89 DOM
9. 2026-06-07
   days on market $99,900 Active 88 DOM
10. 2026-06-07
    days on market $99,900 Active 87 DOM
11. 2026-06-04
    days on market $99,900 Active 84 DOM
12. 2026-06-02
    days on market $99,900 Active 83 DOM
13. 2026-06-01
    days on market $99,900 Active 82 DOM
14. 2026-05-31
    days on market $99,900 Active 81 DOM
15. 2026-05-31
    days on market $99,900 Active 80 DOM
16. 2026-03-11
    listed $99,900 Active 120-char remark

    Show marketing remark (120 chars)

    HOME IS CONDEMNED. See city code office for what can be done. DON't ENTER STRUCTURE AS IT IS NOT SAFE BEING SOLD AS. IS

17. 2015-03-06
    soldstatus $12,000 148-char remark

    Show marketing remark (148 chars)

    WOW! What a steal, check out this house under 20K. Located close to town. Home has great potential. Priced to sell. Come take a look! Price reduced.

18. 2013-07-26
    soldstatus $22,000

ⓘ 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: $1,286 · $107/mo
• Projected year-2 tax: $1,322 · $110/mo
• Expected delta: +$36/yr (+$3/mo · 2.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $17,027
• − Mortgage interest: −$5,596
• − Property taxes: −$1,286
• − Insurance: −$500
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$2,906
• Taxable income: $4,015
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $4,416/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 71
• NCES district ID: 2314822
• Math proficiency: 79% ▲ 55.00%
• Reading proficiency: 82% ▲ 34.00%
• Median HH income: $43,774
• Composite: 67.47/100
• National rank: #374
• State rank: #85 of 112 in ME

Livability — Belfast

• Score: 82/100
• State rank: #14
• US rank: #1247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belfast, ME
• City population: 9,030
• Population (ZIP): 9,030

Population outlook (Waldo County) Hauer SSP2

• Today (2025): 39,611 people
• By 2030: 39,475 · -0.3%
• By 2040: 38,245 · -3.4%
• By 2050: 36,078 · -8.9%
• By 2075: 29,774 · -24.8%
• By 2100: 22,172 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Lithuanian 8% Slovak 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Chinese 1%

Political lean MEDSL · Waldo

• 2024 margin: Toss-up / Even · D 50.4% · R 47.0% · Other 2.6%
• 2008→2024 swing: -8.3pp toward R · 2008: 11.6pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+4.7 2016: D+0.3 2012: D+10.7 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.00%
• Current HPI: 258.9162
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+354.1% since first listed

3 events — show timeline

• 2026-03-11 Listed $99,900 MREIS
• 2015-03-06 Sold (MLS) $12,000 MREIS
• 2013-07-26 Sold (MLS) $22,000 MREIS

Property tax history

-1.7%/yr

Latest (2025): $1,286 · +6.1% YoY. Source: county tax records.