3 Janabye Ln · Hallowell, ME 04347

$625,000

4 bd · 4.0 ba · 3,840 sqft · MultiFamily public records · 14 Days on market

Built 1991 2.08 ac lot

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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).

• Cash flow +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +7.2/10.0
• 1% rule +5.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +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

Two houses on one property. Great rental opportunity. Well maintained 3840 square foot three unit multi family home plus an additional 1522 square foot single family home. All units are spacious and have abundance of natural light plus storage space, their own private deck/patio area and 1 car garage. Extra large family room or could be used as an additional two car garage. Large common patio area on lower level. Large back yard. New 2019 Kohler 20 kw automatic propane generator. The single family home offers three bedrooms, full bath, full basement plus one car attached garage and private yard. Two acres of meticulously kept land, and paved driveways, additional 16x36 shed. A great family complex or investment opportunity. Convenient location to interstate, shopping and downtown Hallowell. A must see!

Key facts

• Updated units
• Ample storage space
• Rural setting

Tags

• UPDATED UNITS
• ATTACHED THREE-BAY GARAGE
• AMPLE STORAGE SPACE
• RURAL SETTING
• EASY ACCESS TO MAJOR AMENITIES

Property features AI

Finance

• Other: Zoning: RF
• Financial info: Gross income: $53,520; Operating expenses: $9,901.94; Units currently producing rental income (unit rents listed): Unit 1 $1,760; Unit 2 $1,450; Unit 3 $1,250

Exterior

• Parking: Attached/accessible garage space for 4 vehicles; Additional paved parking with 5–10 spaces; 4+ car vehicle storage
• Utilities: Public water; Private sewer; Utilities are on; Water heater off heating system
• Home design: Multifamily property with 3 units; Pitched shingle roof
• Construction: Built in 1991; Wood frame with vinyl siding; Pitched shingle roof
• Exterior features: Deck; Patio; Outbuilding and sheds; Property near turnpike/interstate; Rural setting

Interior

• Kitchen: Each unit includes a refrigerator
• Bedrooms: Three-unit property: two 2-bedroom units and one 1-bedroom unit; Unit 1 (first level): 2 bedrooms; Unit 2 (second level): 2 bedrooms; Unit 3 (second level): 1 bedroom
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: Four full bathrooms (total for the property)
• Heating & cooling: Baseboard hot water heating; Circuit breaker electric system
• Interior features: First-floor bedroom; Pantry; Generator
• Laundry & utility: Laundry on main level and upper level

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $625k).
• Cap rate 8.5% vs local median 2.7% in Hallowell — 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 71/100 on livability (#60 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute 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: 25 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $420k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $625,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.06% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-29,661
• Equity at exit: $93,190

10-year hold

• IRR: 5.1%
• Equity multiple: 1.38×
• Total profit: $66,273
• Equity at exit: $54,039

Cash invested: $175,000 (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 04347

• Home prices YoY: -4.7%
• Active inventory: 25
• Price-to-rent: 23.7×

Monthly cashflow live

• Estimated rent: $6,600 medium
• Mortgage (P&I): −$3,278
• Tax from tax record: −$551 /mo · $6,611/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,386
• Net cashflow: $1,125

Break-even live

Break-even rent $5,176

Max offer price $625,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,479	-5% $1,302	+0% $1,125	+5% $948	+10% $771
Rent	-10% $604	-5% $864	+0% $1,125	+5% $1,386	+10% $1,646
Rate	-1.0pp $1,440	-0.5pp $1,284	base $1,125	+0.5pp $963	+1.0pp $798

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$6,600
Total (3 units)			$6,600

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $625,000 Active 14 DOM
2. 2026-06-18
   days on market $625,000 Active 13 DOM
3. 2026-06-17
   days on market $625,000 Active 12 DOM
4. 2026-06-16
   days on market $625,000 Active 11 DOM
5. 2026-06-15
   days on market $625,000 Active 10 DOM
6. 2026-06-14
   days on market $625,000 Active 8 DOM
7. 2026-06-12
   days on market $625,000 Active 7 DOM
8. 2026-06-09
   days on market $625,000 Active 4 DOM
9. 2026-06-08
   days on market $625,000 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $625,000 Active 2 DOM

ⓘ 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: $6,611 · $551/mo
• Projected year-2 tax: $7,556 · $630/mo
• Expected delta: +$944/yr (+$79/mo · 14.3%)

ⓘ 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: $79,200
• − Mortgage interest: −$35,010
• − Property taxes: −$6,611
• − Insurance: −$3,125
• − Repairs & maintenance: −$6,336
• − Management: −$6,336
• − Depreciation: −$18,182
• Taxable income: $3,600
• Est. tax owed @ 24.0%: −$864
• After-tax cash flow: $12,637/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 — Hallowell

• Score: 71/100
• State rank: #60
• US rank: #6567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hallowell, ME
• City population: 2,570
• Population (ZIP): 2,570

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 14% Slovak 6% Scotch-Irish 5%
• Foreign-born: 3%
• Languages at home: 94% English-only · French/Haitian/Cajun 3% German/W. Germanic 1% Russian/Polish/Slavic 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: ▼ -16.84%
• Current HPI: 343.1609
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+8.7% since first listed

5 events — show timeline

• 2026-06-05 Listed $625,000 MREIS
• 2019-09-26 Sold (MLS) $420,000 MREIS
• 2019-08-12 Pending — MREIS
• 2019-07-19 Price Changed $450,000 MREIS
• 2019-05-01 Listed $575,000 MREIS

Property tax history

-0.6%/yr

Latest (2025): $6,611 · -4.0% YoY. Source: county tax records.