387 & 377 Main St · Mattawamkeag, ME 04459

$89,900

1 bd · 1.0 ba · 900 sqft · Other · 81 Days on market

1.42 ac lot $100/sqft · 29% below area Est $126k · 29% under ↓ 28% since listing

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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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• Schools +6.8/10.0
• 1% rule +6.0/10.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Turnkey pizza business opportunity in Mattawamkeag, Maine! This well-loved restaurant is a favorite stop for locals and travelers alike, known for serving some of the best pizza around. Located at the gateway to the north, this affordable business is perfect for anyone looking to be their own boss. The property includes two lots and has seen many updates to both the building and equipment. Whether you want to continue running this thriving business or convert the space back into a single-family home, the possibilities are endless. There's also plenty of room to expand and grow the business further. Serious buyers can request profit and loss numbers. Don't miss your chance to own a successful and affordable restaurant with a loyal customer base and prime location!

Key facts

• Updates to building
• Two lots
• Updates to equipment

Tags

• TWO LOTS
• UPDATES TO BUILDING
• UPDATES TO EQUIPMENT
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• RSU 67 (rural): math 79% / reading 85% proficiency, ranked #83 of 112 in ME (top 74%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Penobscot County population projected at -17% 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, 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 81 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.10% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (median comp): $126,167
• List price: $89,900
• Delta: -28.75%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.7%
• Equity multiple: 1.89×
• Total profit: $22,495
• Equity at exit: $40,423

10-year hold

• IRR: 17.3%
• Equity multiple: 3.53×
• Total profit: $63,748
• Equity at exit: $62,297

Cash invested: $25,172 (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 04459

• Active inventory: 8
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $990 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $183

Break-even live

Break-even rent $758

Max offer price $89,900

Occupancy floor 76%

Sensitivity live

Price	-10% $234	-5% $209	+0% $183	+5% $158	+10% $132
Rent	-10% $105	-5% $144	+0% $183	+5% $222	+10% $261
Rate	-1.0pp $228	-0.5pp $206	base $183	+0.5pp $160	+1.0pp $136

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $89,900 Active 81 DOM
2. 2026-06-18
   days on market $89,900 Active 79 DOM
3. 2026-06-17
   days on market $89,900 Active 78 DOM
4. 2026-06-16
   days on market $89,900 Active 77 DOM
5. 2026-06-15
   days on market $89,900 Active 76 DOM
6. 2026-06-13
   days on market $89,900 Active 74 DOM
7. 2026-06-12
   days on market $89,900 Active 73 DOM
8. 2026-06-09
   days on market $89,900 Active 70 DOM
9. 2026-06-08
   days on market $89,900 Active 69 DOM
10. 2026-06-07
    days on market $89,900 Active 68 DOM
11. 2026-06-07
    days on market $89,900 Active 67 DOM
12. 2026-06-04
    days on market $89,900 Active 64 DOM
13. 2026-06-02
    days on market $89,900 Active 63 DOM
14. 2026-06-01
    days on market $89,900 Active 62 DOM
15. 2026-05-31
    days on market $89,900 Active 61 DOM
16. 2026-05-31
    days on market $89,900 Active 60 DOM
17. 2026-03-31
    listed $89,900 Active 773-char remark

    Show marketing remark (773 chars)

    Turnkey pizza business opportunity in Mattawamkeag, Maine! This well-loved restaurant is a favorite stop for locals and travelers alike, known for serving some of the best pizza around. Located at the gateway to the north, this affordable business is perfect for anyone looking to be their own boss. The property includes two lots and has seen many updates to both the building and equipment. Whether you want to continue running this thriving business or convert the space back into a single-family home, the possibilities are endless. There's also plenty of room to expand and grow the business further. Serious buyers can request profit and loss numbers. Don't miss your chance to own a successful and affordable restaurant with a loyal customer base and prime location!

18. 2025-12-16
    price $97,500
19. 2025-11-14
    price $100,000
20. 2025-07-07
    price $125,000

ⓘ 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: $1,076 · $90/mo
• Projected year-2 tax: $1,149 · $96/mo
• Expected delta: +$73/yr (+$6/mo · 6.8%)

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

Taxation est. · year 1

• Rental income: $11,874
• − Mortgage interest: −$5,036
• − Property taxes: −$1,076
• − Insurance: −$450
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$2,615
• Taxable income: $798
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $2,006/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 67
• NCES district ID: 2314777
• Math proficiency: 79% ▲ 50.00%
• Reading proficiency: 85% ▲ 38.00%
• Median HH income: $36,167
• Composite: 67.98/100
• National rank: #357
• State rank: #83 of 112 in ME

Livability — Mattawamkeag

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

Census & demographics

• Census place: Mattawamkeag, ME
• Population (ZIP): 703

Population outlook (Penobscot County) Hauer SSP2

• Today (2025): 149,928 people
• By 2030: 146,386 · -2.4%
• By 2040: 135,952 · -9.3%
• By 2050: 123,864 · -17.4%
• By 2075: 97,825 · -34.8%
• By 2100: 77,196 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 4%
• Common ancestry: Lithuanian 18% Slovak 6% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Penobscot

• 2024 margin: R (+10.9) · D 43.6% · R 54.5% · Other 1.9%
• 2008→2024 swing: -15.9pp toward R · 2008: 5.0pp · 2024: -10.9pp
• All cycles: 2024: R+10.9 2020: R+8.3 2016: R+10.9 2012: D+2.9 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

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

Price history

-28.1% since first listed

4 events — show timeline

• 2026-03-31 Listed $89,900 MREIS
• 2025-12-16 Price Changed $97,500 MREIS
• 2025-11-14 Price Changed $100,000 MREIS
• 2025-07-07 Price Changed $125,000 MREIS

Property tax history

+8.1%/yr

Latest (2025): $1,076 · +18.1% YoY. Source: county tax records.