62 Heath Rd · Augusta, ME 04353

$419,500

4 bd · 2.5 ba · 2,028 sqft · MultiFamily · 4 Days on market

Built 2007 11 ac lot

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• Cash flow +5.1/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

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

Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

Key facts

• Propane fireplace
• Walk-in closet
• Spacious kitchen

Tags

• OVER 10 ACRES
• SPACIOUS KITCHEN
• OVERSIZED ISLAND
• PROPANE FIREPLACE
• PRIVATE RETREAT
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $-978 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (41.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (47.7% below list).
• Recommended offer: $219k (47.7% below list) — sets the bar for 1% rule.
• Cap rate 3.5% 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: 15 active listings in the ZIP; 158 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Lincoln County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $190k; list at $420k implies a 121% gain — meaningful room to come down on a strong offer.

Recommended offer $219,300 (47.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.52% ✗
• Cap rate: 3.49%
• Cash-on-cash: -10.00%
• DSCR: 0.56
• GRM: 15.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.3%
• Equity multiple: 2.41×
• Total profit: $166,074
• Equity at exit: $377,919

10-year hold

• IRR: 16.3%
• Equity multiple: 5.58×
• Total profit: $537,900
• Equity at exit: $814,996

Cash invested: $117,460 (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 04353

• Home prices YoY: 8.5%
• Active inventory: 15
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $2,193 medium
• Mortgage (P&I): −$2,200
• Tax from tax record: −$336 /mo · $4,034/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-978

Break-even live

Break-even rent $3,431

Max offer price $246,663

Occupancy floor —

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,194
Total (2 units)			$2,193

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: $104,875
• Closing costs: $12,585
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-04-08
   status Pending
2. 2026-04-08
   historical Active Under Contract
3. 2026-04-04
   listed $419,500 Active
4. 2017-11-03
   soldstatus $190,000 Sold 436-char remark

   Show marketing remark (436 chars)

   Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

5. 2017-09-14
   status Pending 436-char remark

   Show marketing remark (436 chars)

   Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

6. 2017-08-26
   price $203,000 436-char remark

   Show marketing remark (436 chars)

   Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

7. 2017-08-02
   price $219,000 436-char remark

   Show marketing remark (436 chars)

   Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

8. 2017-07-14
   price $229,000 436-char remark

   Show marketing remark (436 chars)

   Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

9. 2017-06-07
   price $245,000 436-char remark

   Show marketing remark (436 chars)

   Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

10. 2017-05-16
    listed $259,000 Active 436-char remark

    Show marketing remark (436 chars)

    Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

11. 2017-05-16
    historical

    Show marketing remark (436 chars)

    Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

12. 2017-05-16
    status Active

    Show marketing remark (436 chars)

    Over 10 acres of woods and the shores of Carlton Brook, expansive yet efficient custom Colonial. 4 bedrooms, 2.5 baths, lots of storage. Only 20 minutes to Augusta, 2 car garage, daylight basement and light-flooded attic space too. Wildlife, cross country skiing, hiking - and right on the interconnected snowmobile trails for adventure enthusiasts. MOTIVATED SELLERS! * * PLEASE SEE VIRTUAL TOUR * * Tenants will vacate at close.

13. 2016-10-08
    historical
14. 2016-06-03
    listed $220,000 Active
15. 2015-08-07
    historical
16. 2015-05-14
    price $239,000
17. 2015-03-12
    listed $249,000 Active
18. 2009-06-02
    listed $249,900

ⓘ 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: $4,034 · $336/mo
• Projected year-2 tax: $4,870 · $406/mo
• Expected delta: +$836/yr (+$70/mo · 20.7%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $26,316
• − Mortgage interest: −$23,499
• − Property taxes: −$4,034
• − Insurance: −$2,098
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$12,204
• Taxable loss: −$19,728
• Est. tax savings @ 24.0%: +$4,735
• After-tax cash flow: $-7,006/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 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): 2,343

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 33,059 people
• By 2030: 32,050 · -3.1%
• By 2040: 29,490 · -10.8%
• By 2050: 27,201 · -17.7%
• By 2075: 24,598 · -25.6%
• By 2100: 21,989 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5%
• Common ancestry: Lithuanian 14% Slovak 6% Serbian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Lincoln

• 2024 margin: D (+11.2) · D 54.6% · R 43.4% · Other 2.0%
• 2008→2024 swing: -0.8pp no change · 2008: 12.0pp · 2024: 11.2pp
• All cycles: 2024: D+11.2 2020: D+10.3 2016: D+2.4 2012: D+11.7 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.79%
• Current HPI: 305.156
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+67.9% since first listed

18 events — show timeline

• 2026-04-08 Pending — MREIS
• 2026-04-08 Contingent — MREIS
• 2026-04-04 Listed $419,500 MREIS
• 2017-11-03 Sold (MLS) $190,000 MREIS
• 2017-09-14 Pending — MREIS
• 2017-08-26 Price Changed $203,000 MREIS
• 2017-08-02 Price Changed $219,000 MREIS
• 2017-07-14 Price Changed $229,000 MREIS
• 2017-06-07 Price Changed $245,000 MREIS
• 2017-05-16 Listed $259,000 MREIS
• 2017-05-16 Delisted — MREIS
• 2017-05-16 Relisted — MREIS
• 2016-10-08 Delisted — MREIS
• 2016-06-03 Listed $220,000 MREIS
• 2015-08-07 Delisted — MREIS
• 2015-05-14 Price Changed $239,000 MREIS
• 2015-03-12 Listed $249,000 MREIS
• 2009-06-02 Listed $249,900 MREIS

Property tax history

+1.6%/yr

Latest (2025): $4,034 · +1.6% YoY. Source: county tax records.