1008 West Bay Rd · Gouldsboro, ME 04607

$155,000

2 bd · 1.0 ba · 1,190 sqft · MultiFamily · 45 Days on market

27 ac lot $130/sqft · 39% below area Est $256k · 39% under

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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 +12.3/30.0
• Schools +7.1/10.0
• Appreciation +6.1/10.0
• DSCR +3.7/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +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

26.8 acres in the beautiful coastal town of Gouldsboro, surrounded by quiet harbors, rocky shoreline, and the natural beauty of the Schoodic Peninsula. An antique 2BR/1BA cape--believed to date back to the 1800s--sits near the front of the property and is ready for rehab. A small private road serving neighboring homes runs along the front, while the majority of the acreage stretches out behind it, offering privacy, woods, and room to create your own retreat. Enjoy the privacy of acreage while being minutes from Prospect Harbor Lighthouse, Corea's working waterfront, miles of scenic shoreline and the Schoodic District of Acadia National Park. A rare opportunity in one of Maine's most peacefu

Key facts

• Scenic shoreline
• Private road
• Majority of acreage

Tags

• PRIVATE ROAD
• MAJORITY OF ACREAGE
• WORKING WATERFRONT
• SCENIC SHORELINE

Property features AI

Finance

• Other: Zoned Residential/Village; Private road frontage; Road surface: gravel and paved
• HOA & community: Pets allowed with no restrictions

Exterior

• Parking: Gravel parking; 1–4 parking spaces
• Utilities: Electric on site with circuit breakers; Private well water; Private sewer; Electric tank water heater
• Home design: Single family residence; Entry level: First floor; Facing direction not specified
• Construction: Wood frame with vinyl siding; Stone foundation; Fiberglass shingle roof; Year built listed as 999 (public record)
• Exterior features: Deck; Outbuilding / shed; Near golf course; Near public beach; Near town; Level lot; Right of way; Wooded

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the first floor
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wood stove
• Interior features: One-floor living with 1st-floor bedrooms; Attic; 4 total rooms; Unfurnished
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $-28 ($-331/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (18.3% below list).
• Recommended offer: $127k (18.3% 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.
• RSU 24 (rural): math 83% / reading 86% proficiency, ranked #59 of 112 in ME (top 53%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 36 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.1% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Recommended offer $126,601 (18.3% 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 45 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (median comp): $255,981
• List price: $155,000
• Delta: -39.45%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

2.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.22×
• Total profit: $9,667
• Equity at exit: $61,994

10-year hold

• IRR: 7.7%
• Equity multiple: 2.07×
• Total profit: $46,238
• Equity at exit: $89,935

Cash invested: $43,400 (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 04607

• Home prices YoY: 1.3%
• Active inventory: 36
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$150 /mo · $1,804/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-28

Break-even live

Break-even rent $1,301

Max offer price $150,123

Occupancy floor 97%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $155,000 Active 45 DOM
2. 2026-06-17
   days on market $155,000 Active 44 DOM
3. 2026-06-16
   days on market $155,000 Active 43 DOM
4. 2026-06-15
   days on market $155,000 Active 42 DOM
5. 2026-06-13
   days on market $155,000 Active 40 DOM
6. 2026-06-12
   days on market $155,000 Active 39 DOM
7. 2026-06-08
   days on market $155,000 Active 35 DOM
8. 2026-06-07
   days on market $155,000 Active 34 DOM
9. 2026-06-07
   days on market $155,000 Active 33 DOM
10. 2026-06-04
    days on market $155,000 Active 30 DOM
11. 2026-06-02
    days on market $155,000 Active 29 DOM
12. 2026-06-01
    days on market $155,000 Active 28 DOM
13. 2026-05-31
    days on market $155,000 Active 27 DOM
14. 2026-05-31
    days on market $155,000 Active 26 DOM
15. 2026-05-04
    listed $155,000 Active 741-char remark

ⓘ 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: $1,804 · $150/mo
• Projected year-2 tax: $1,956 · $163/mo
• Expected delta: +$152/yr (+$13/mo · 8.4%)

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

Taxation est. · year 1

• Rental income: $15,192
• − Mortgage interest: −$8,682
• − Property taxes: −$1,804
• − Insurance: −$775
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$4,509
• Taxable loss: −$3,009
• Est. tax savings @ 24.0%: +$722
• After-tax cash flow: $391/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 24
• NCES district ID: 2314790
• Math proficiency: 83% ▲ 60.00%
• Reading proficiency: 86% ▲ 34.00%
• Median HH income: $44,304
• Composite: 70.84/100
• National rank: #249
• State rank: #59 of 112 in ME

Livability — Gouldsboro

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

Census & demographics

• Population (ZIP): 1,264

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 53,608 people
• By 2030: 52,594 · -1.9%
• By 2040: 49,556 · -7.6%
• By 2050: 46,152 · -13.9%
• By 2075: 39,678 · -26.0%
• By 2100: 33,690 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Slovak 11% Lithuanian 5% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Korean 2%

Political lean MEDSL · Hancock

• 2024 margin: D (+11.8) · D 54.7% · R 42.9% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: 19.3pp · 2024: 11.8pp
• All cycles: 2024: D+11.8 2020: D+12.4 2016: D+7.6 2012: D+16.7 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.10%
• Current HPI: 159.2234
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-04 Listed $155,000 MREIS

Property tax history

+5.7%/yr

Latest (2025): $1,804 · +6.2% YoY. Source: county tax records.