18 Walker Ln · Farmingdale, ME 04344

$574,900

4 bd · 2.0 ba · 1,896 sqft · MultiFamily · 58 Days on market

Built 1984 9.50 ac lot $303/sqft · 90% above area

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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 +26.3/30.0
• Appreciation +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +7.2/10.0
• 1% rule +6.1/10.0
• Livability +3.4/5.0
• Rent growth +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

18 Walker Lane presents a rare opportunity to own a private lane on 9.5 wooded, park-like acres. Set back from the road, this contemporary ranch offers an exceptional balance of privacy, acreage, and convenience with easy access throughout Southern Maine. A brand-new roof installed on 5/1 adds immediate value and long-term peace of mind, complementing the property's many recent improvements. Inside, the home features 4 bedrooms and 2 full baths, centered around a fully renovated, elevated kitchen with high-end Energy Star stainless steel appliances. The open-concept layout flows into a bright and inviting living space with cathedral ceilings, abundant natural light, and a woodstove that enhances the home's contemporary character. The finished lower level expands the living space with 3 additional bedrooms, a full bath, and a spacious family room, ideal for guests, extended living arrangements, or remote work flexibility. New heat pumps provide efficient year-round comfort. Step outside to enjoy the deck overlooking the peaceful wooded surroundings, local wildlife, and the privacy this unique property offers. A distinctive retreat combining acreage, thoughtful updates, and a highly accessible location.

Key facts

• 9.5 acre lot
• 2 garage spots
• Built 1984

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $575k).
• Recommended offer: $558k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#90 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• RSU 02 (rural): math 83% / reading 87% proficiency, ranked #52 of 112 in ME (top 46%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $61k of equity ($4k loan paydown + $57k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $161k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$99k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($558k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $401k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $557,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.11% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (median comp): $303,002
• List price: $574,900
• Delta: 89.73%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.4%
• Equity multiple: 3.53×
• Total profit: $407,906
• Equity at exit: $517,915

10-year hold

• IRR: 28.0%
• Equity multiple: 8.00×
• Total profit: $1,126,228
• Equity at exit: $1,116,904

Cash invested: $160,972 (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 04344

• Home prices YoY: 7.0%
• Active inventory: 11
• Price-to-rent: 30.0×

Monthly cashflow live

• Estimated rent: $6,393 medium
• Mortgage (P&I): −$3,015
• Tax from tax record: −$305 /mo · $3,662/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,343
• Net cashflow: $1,491

Break-even live

Break-even rent $4,506

Max offer price $574,900

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$6,392
Total (4 units)			$6,393

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: $143,725
• Closing costs: $17,247
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $574,900 Active 58 DOM
2. 2026-06-18
   days on market $574,900 Active 57 DOM
3. 2026-06-17
   days on market $574,900 Active 56 DOM
4. 2026-06-16
   days on market $574,900 Active 55 DOM
5. 2026-06-15
   days on market $574,900 Active 54 DOM
6. 2026-06-14
   days on market $574,900 Active 52 DOM
7. 2026-06-12
   days on market $574,900 Active 51 DOM
8. 2026-06-09
   days on market $574,900 Active 48 DOM
9. 2026-06-08
   days on market $574,900 Active 47 DOM
10. 2026-06-07
    days on market $574,900 Active 46 DOM
11. 2026-06-05
    days on market $574,900 Active 43 DOM
12. 2026-06-03
    days on market $574,900 Active 42 DOM
13. 2026-06-02
    days on market $574,900 Active 41 DOM
14. 2026-06-01
    days on market $574,900 Active 40 DOM
15. 2026-05-31
    days on market $574,900 Active 39 DOM
16. 2026-05-30
    days on market $574,900 Active 38 DOM
17. 2026-04-22
    listed $574,900 Active 1220-char remark

    Show marketing remark (1220 chars)

    18 Walker Lane presents a rare opportunity to own a private lane on 9.5 wooded, park-like acres. Set back from the road, this contemporary ranch offers an exceptional balance of privacy, acreage, and convenience with easy access throughout Southern Maine. A brand-new roof installed on 5/1 adds immediate value and long-term peace of mind, complementing the property's many recent improvements. Inside, the home features 4 bedrooms and 2 full baths, centered around a fully renovated, elevated kitchen with high-end Energy Star stainless steel appliances. The open-concept layout flows into a bright and inviting living space with cathedral ceilings, abundant natural light, and a woodstove that enhances the home's contemporary character. The finished lower level expands the living space with 3 additional bedrooms, a full bath, and a spacious family room, ideal for guests, extended living arrangements, or remote work flexibility. New heat pumps provide efficient year-round comfort. Step outside to enjoy the deck overlooking the peaceful wooded surroundings, local wildlife, and the privacy this unique property offers. A distinctive retreat combining acreage, thoughtful updates, and a highly accessible location.

18. 2022-04-29
    soldstatus $401,000 Closed 545-char remark

    Show marketing remark (545 chars)

    Very few properties like this in Farmingdale! This 3-4 bedroom, 2 bathroom ranch sits on 9.5 park-like acres. Open concept kitchen, dining and living room with a wood stove and lots of natural light. First floor bedroom and bathroom. Fully renovated lower level includes 2-3 bedrooms, a bathroom and a family room. Mud room upon entry. Two car detached garage. Quiet country setting with gardens galore- annuals, perennials, a rose garden and an herb garden. Sit on the deck overlooking wildlife, woodlands, and a brook all just minutes to town!

19. 2022-03-22
    status Pending - Continue to Show 545-char remark

    Show marketing remark (545 chars)

    Very few properties like this in Farmingdale! This 3-4 bedroom, 2 bathroom ranch sits on 9.5 park-like acres. Open concept kitchen, dining and living room with a wood stove and lots of natural light. First floor bedroom and bathroom. Fully renovated lower level includes 2-3 bedrooms, a bathroom and a family room. Mud room upon entry. Two car detached garage. Quiet country setting with gardens galore- annuals, perennials, a rose garden and an herb garden. Sit on the deck overlooking wildlife, woodlands, and a brook all just minutes to town!

20. 2022-03-18
    listed $375,000 Active 545-char remark

    Show marketing remark (545 chars)

    Very few properties like this in Farmingdale! This 3-4 bedroom, 2 bathroom ranch sits on 9.5 park-like acres. Open concept kitchen, dining and living room with a wood stove and lots of natural light. First floor bedroom and bathroom. Fully renovated lower level includes 2-3 bedrooms, a bathroom and a family room. Mud room upon entry. Two car detached garage. Quiet country setting with gardens galore- annuals, perennials, a rose garden and an herb garden. Sit on the deck overlooking wildlife, woodlands, and a brook all just minutes to town!

ⓘ 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: $3,662 · $305/mo
• Projected year-2 tax: $5,740 · $478/mo
• Expected delta: +$2,078/yr (+$173/mo · 56.8%)

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

Taxation est. · year 1

• Rental income: $76,716
• − Mortgage interest: −$32,203
• − Property taxes: −$3,662
• − Insurance: −$2,874
• − Repairs & maintenance: −$6,137
• − Management: −$6,137
• − Depreciation: −$16,724
• Taxable income: $8,977
• Est. tax owed @ 24.0%: −$2,155
• After-tax cash flow: $15,737/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 02
• NCES district ID: 2314776
• Math proficiency: 83% ▲ 56.00%
• Reading proficiency: 87% ▲ 34.00%
• Median HH income: $52,565
• Composite: 72.04/100
• National rank: #208
• State rank: #52 of 112 in ME

Livability — Farmingdale

• Score: 67/100
• State rank: #90
• US rank: #10153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmingdale, ME
• Population (ZIP): 3,001

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 16% Slovak 6% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Other Indo-European 5% Spanish 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.33%
• Current HPI: 281.8416
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+53.3% since first listed

4 events — show timeline

• 2026-04-22 Listed $574,900 MREIS
• 2022-04-29 Sold (MLS) $401,000 MREIS
• 2022-03-22 Pending — MREIS
• 2022-03-18 Listed $375,000 MREIS

Property tax history

+4.8%/yr

Latest (2025): $3,662 · -3.1% YoY. Source: county tax records.