224 Sewall St · Island Falls, ME 04747

$44,900

2 bd · 1.5 ba · 1,043 sqft · MultiFamily public records · 128 Days on market

Built 1940 0.45 ac lot $43/sqft · 36% below area Est $60k · 26% under ↓ 12% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.2/10.0
• Schools +3.8/10.0
• 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 MLS

Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

Key facts

• Fully remodeled
• Laundry utility room
• Open kitchen

Tags

• OPEN KITCHEN
• LAUNDRY UTILITY ROOM
• FULLY REMODELED
• SNOWMOBILE AND ATV TRAILS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• RSU 50 (rural): math 30% / reading 55% proficiency, ranked #103 of 185 in ME (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($310 loan paydown + $2k appreciation (4.4% local appreciation)).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $45k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 2.51% ✓
• Cap rate: 21.84%
• Cash-on-cash: 55.53%
• DSCR: 3.47
• GRM: 3.3

CMA / ARV

• ARV (median comp): $60,456
• List price: $44,900
• Delta: -25.73%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.1%
• Equity multiple: 4.65×
• Total profit: $45,859
• Equity at exit: $23,788

10-year hold

• IRR: 60.4%
• Equity multiple: 9.55×
• Total profit: $107,431
• Equity at exit: $39,748

Cash invested: $12,572 (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 04747

• Home prices YoY: 2.6%
• Active inventory: 28
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $582

Break-even live

Break-even rent $392

Max offer price $44,900

Occupancy floor 43%

Sensitivity live

Price	-10% $607	-5% $594	+0% $582	+5% $569	+10% $556
Rent	-10% $493	-5% $537	+0% $582	+5% $626	+10% $671
Rate	-1.0pp $604	-0.5pp $593	base $582	+0.5pp $570	+1.0pp $558

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   status $44,900 Pending 128 DOM
2. 2026-06-18
   days on market $44,900 Active 128 DOM
3. 2026-06-17
   days on market $44,900 Active 127 DOM
4. 2026-06-16
   days on market $44,900 Active 126 DOM
5. 2026-06-15
   days on market $44,900 Active 125 DOM
6. 2026-06-13
   days on market $44,900 Active 123 DOM
7. 2026-06-12
   days on market $44,900 Active 122 DOM
8. 2026-06-09
   days on market $44,900 Active 119 DOM
9. 2026-06-08
   days on market $44,900 Active 118 DOM
10. 2026-06-07
    days on market $44,900 Active 117 DOM
11. 2026-06-05
    days on market $44,900 Active 115 DOM
12. 2026-06-04
    remarks 341-char remark
13. 2026-06-04
    pricestatus $44,900 Active 113 DOM
14. 2026-05-20
    status Pending 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

15. 2026-05-15
    price $52,500 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

16. 2026-05-15
    status Active 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

17. 2026-05-14
    price $66,900 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

18. 2026-05-14
    price $52,500 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

19. 2026-04-22
    historical Active Under Contract 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

20. 2026-04-20
    price $66,900 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

21. 2026-03-30
    price $71,900 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

22. 2026-03-11
    price $79,900 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

23. 2026-02-19
    price $84,900 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

24. 2026-01-27
    listed $89,900 Active 322-char remark

    Show marketing remark (322 chars)

    Well maintained and ready for you and your family. Two bedrooms on 2nd floor with 1/2 bath. 1st floor has a nice open kitchen, living room, full bath and laundry/utility room. Priced to move. Great starter home! Fully remodeled in 2018. Right off snowmobile and atv trails in the back. Come check it out before it's gone.

25. 2024-08-02
    soldstatus $52,000 Closed 588-char remark

    Show marketing remark (588 chars)

    Nice village up on the hill!! Great staircase to the top with a very nice view!! Fantastic view with Fishing, ATV and ITS trails!! Mt. View a few miles aways. 1 hour from Bangor international airport, 30 minutes to Houlton and Canada. Baxter Park 30 min and Katahdin . The home has been redone , new roof, gas furnace, wood stove, and a heat pump!! 2 Bedrooms up, living room down, kitchen, 1.5 baths, pantry room !! Great place to escape !! The area has 2 ponds, and a river!! Nice little Air BNB !! Cash only, AS Is , make an apppt to look, it is is habitable just needs a little work.

26. 2024-07-17
    status Pending 588-char remark

    Show marketing remark (588 chars)

    Nice village up on the hill!! Great staircase to the top with a very nice view!! Fantastic view with Fishing, ATV and ITS trails!! Mt. View a few miles aways. 1 hour from Bangor international airport, 30 minutes to Houlton and Canada. Baxter Park 30 min and Katahdin . The home has been redone , new roof, gas furnace, wood stove, and a heat pump!! 2 Bedrooms up, living room down, kitchen, 1.5 baths, pantry room !! Great place to escape !! The area has 2 ponds, and a river!! Nice little Air BNB !! Cash only, AS Is , make an apppt to look, it is is habitable just needs a little work.

27. 2024-07-08
    price $55,000 588-char remark

    Show marketing remark (588 chars)

    Nice village up on the hill!! Great staircase to the top with a very nice view!! Fantastic view with Fishing, ATV and ITS trails!! Mt. View a few miles aways. 1 hour from Bangor international airport, 30 minutes to Houlton and Canada. Baxter Park 30 min and Katahdin . The home has been redone , new roof, gas furnace, wood stove, and a heat pump!! 2 Bedrooms up, living room down, kitchen, 1.5 baths, pantry room !! Great place to escape !! The area has 2 ponds, and a river!! Nice little Air BNB !! Cash only, AS Is , make an apppt to look, it is is habitable just needs a little work.

28. 2024-03-23
    status Active 588-char remark

    Show marketing remark (588 chars)

    Nice village up on the hill!! Great staircase to the top with a very nice view!! Fantastic view with Fishing, ATV and ITS trails!! Mt. View a few miles aways. 1 hour from Bangor international airport, 30 minutes to Houlton and Canada. Baxter Park 30 min and Katahdin . The home has been redone , new roof, gas furnace, wood stove, and a heat pump!! 2 Bedrooms up, living room down, kitchen, 1.5 baths, pantry room !! Great place to escape !! The area has 2 ponds, and a river!! Nice little Air BNB !! Cash only, AS Is , make an apppt to look, it is is habitable just needs a little work.

29. 2024-03-18
    historical Active Under Contract 588-char remark

    Show marketing remark (588 chars)

    Nice village up on the hill!! Great staircase to the top with a very nice view!! Fantastic view with Fishing, ATV and ITS trails!! Mt. View a few miles aways. 1 hour from Bangor international airport, 30 minutes to Houlton and Canada. Baxter Park 30 min and Katahdin . The home has been redone , new roof, gas furnace, wood stove, and a heat pump!! 2 Bedrooms up, living room down, kitchen, 1.5 baths, pantry room !! Great place to escape !! The area has 2 ponds, and a river!! Nice little Air BNB !! Cash only, AS Is , make an apppt to look, it is is habitable just needs a little work.

30. 2024-03-14
    listed $60,000 Active 588-char remark

    Show marketing remark (588 chars)

    Nice village up on the hill!! Great staircase to the top with a very nice view!! Fantastic view with Fishing, ATV and ITS trails!! Mt. View a few miles aways. 1 hour from Bangor international airport, 30 minutes to Houlton and Canada. Baxter Park 30 min and Katahdin . The home has been redone , new roof, gas furnace, wood stove, and a heat pump!! 2 Bedrooms up, living room down, kitchen, 1.5 baths, pantry room !! Great place to escape !! The area has 2 ponds, and a river!! Nice little Air BNB !! Cash only, AS Is , make an apppt to look, it is is habitable just needs a little work.

ⓘ 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: $663 · $55/mo
• Projected year-2 tax: $663 · $55/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $13,536
• − Mortgage interest: −$2,515
• − Property taxes: −$663
• − Insurance: −$224
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$1,306
• Taxable income: $6,662
• Est. tax owed @ 24.0%: −$1,599
• After-tax cash flow: $5,382/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 50
• NCES district ID: 2314806
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $36,091
• Composite: 37.51/100
• National rank: #8882
• State rank: #103 of 185 in ME

Livability — Island Falls

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

Census & demographics

• Census place: Island Falls, ME
• Population (ZIP): 1,318

Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Native American 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Slovak 12% Lithuanian 10% Polish 5%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Chinese 2% German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.39%
• Current HPI: 170.9479
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-12.5% since first listed

17 events — show timeline

• 2026-05-20 Pending — MREIS
• 2026-05-15 Price Changed $52,500 MREIS
• 2026-05-15 Relisted — MREIS
• 2026-05-14 Price Changed $66,900 MREIS
• 2026-05-14 Price Changed $52,500 MREIS
• 2026-04-22 Contingent — MREIS
• 2026-04-20 Price Changed $66,900 MREIS
• 2026-03-30 Price Changed $71,900 MREIS
• 2026-03-11 Price Changed $79,900 MREIS
• 2026-02-19 Price Changed $84,900 MREIS
• 2026-01-27 Listed $89,900 MREIS
• 2024-08-02 Sold (MLS) $52,000 MREIS
• 2024-07-17 Pending — MREIS
• 2024-07-08 Price Changed $55,000 MREIS
• 2024-03-23 Relisted — MREIS
• 2024-03-18 Contingent — MREIS
• 2024-03-14 Listed $60,000 MREIS

Property tax history

+5.0%/yr

Latest (2025): $663 · -13.3% YoY. Source: county tax records.