616 Old County Rd · Rockland, ME 04841

$189,900

3 bd · 1.5 ba · 1,656 sqft · SingleFamily public records · 35 Days on market

Built 1769 0.47 ac lot Est $359k · 47% under

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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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +7.1/10.0
• Schools +6.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This enchanting 3-bed, 1.5 bath cape is known as the 'oldest' home in Rockland. The whisper of history now sirens the next steward to enjoy this home's bright and level . 55 acres located only 1.5 miles from Rockland's trendy downtown and waterfront. The mature gardens will embrace and inspire you to add your unique additions to the garden wonderland. Live on the first floor comfortably with the convenience of an attached single-car garage with direct entry into the inviting eat-in kitchen. Two more bedrooms and a half bath located on second floor. Wide pine floors throughout the 1,656 sq. ft. home. Now, imagine yourself in the kitchen enjoying homecooked meals, or unwinding by the fireplace or awakening each day to the eastern light beaming through the front windows knowing 250 years American history unfolded and this home stands the test of time. Be part of mid-coast Maine's stalwart history!

Key facts

• Cape cod style home
• Wide pine floors
• 0.47 acre lot

Tags

• CAPE COD STYLE HOME
• WIDE PINE FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.2% in Rockland — 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 62/100 on livability (#116 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, amenities F, commute F.
• RSU 13 (town): math 77% / reading 85% proficiency, ranked #84 of 112 in ME (top 75%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 72 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 160 units permitted in Knox County in 2024 (58 in 5+ unit buildings).
• At $2,303/mo this rent would consume 49% of the median local household income ($57k/yr) (locally 279% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $142k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1769 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1769 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.21% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.33
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $359,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 Mountain View Dr	0.23mi	3/2.0	1,596 (-4%)	4mo	$325,000	$204	78
26 Lake View Ter	0.19mi	3/2.0	1,684 (+2%)	19mo	$445,000	$264	71
16 Lake Ave	0.35mi	3/2.0	1,769 (+7%)	9mo	$330,000	$187	63
659 Old County Rd	0.15mi	2/1.5 (-1)	1,488 (-10%)	10mo	$411,000	$276	62
660 Old County Rd	0.25mi	3/1.5	1,550 (-6%)	20mo	$329,600	$213	61
38 Lake View Dr	0.28mi	4/1.5 (+1)	1,503 (-9%)	12mo	$250,000	$166	57
22 Pheasant Dr	0.34mi	4/2.0 (+1)	1,752 (+6%)	17mo	$380,500	$217	54
35 Mountain View Ext	0.23mi	2/2.0 (-1)	1,852 (+12%)	13mo	$375,000	$202	51
93 Cedar St	0.71mi	3/2.0	1,710 (+3%)	15mo	$430,080	$252	47
196 North Main St	0.43mi	3/2.0	1,798 (+9%)	22mo	$365,000	$203	45
67 Acadia Dr	0.63mi	3/2.0	1,591 (-4%)	22mo	$440,000	$277	44
15 Katahdin Ave	0.51mi	4/2.5 (+1)	1,738 (+5%)	21mo	$440,000	$253	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-9,386
• Equity at exit: $28,315

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $19,756
• Equity at exit: $16,419

Cash invested: $53,172 (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 04841

• Home prices YoY: -17.8%
• Active inventory: 72
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,303 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$411 /mo · $4,933/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $334

Break-even live

Break-even rent $1,881

Max offer price $189,900

Occupancy floor 81%

Sensitivity live

Price	-10% $441	-5% $387	+0% $334	+5% $280	+10% $226
Rent	-10% $152	-5% $243	+0% $334	+5% $425	+10% $516
Rate	-1.0pp $429	-0.5pp $382	base $334	+0.5pp $284	+1.0pp $234

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Maverick St Rockland, ME	4.0	2.0	1528	$2,600	$1.70	15d	1	0.71mi

Listing history 8 events

1. 2026-04-24
   status Pending
2. 2026-03-20
   listed $189,900 Active
3. 2020-08-10
   soldstatus $142,000 Closed 907-char remark

   Show marketing remark (907 chars)

   This enchanting 3-bed, 1.5 bath cape is known as the 'oldest' home in Rockland. The whisper of history now sirens the next steward to enjoy this home's bright and level . 55 acres located only 1.5 miles from Rockland's trendy downtown and waterfront. The mature gardens will embrace and inspire you to add your unique additions to the garden wonderland. Live on the first floor comfortably with the convenience of an attached single-car garage with direct entry into the inviting eat-in kitchen. Two more bedrooms and a half bath located on second floor. Wide pine floors throughout the 1,656 sq. ft. home. Now, imagine yourself in the kitchen enjoying homecooked meals, or unwinding by the fireplace or awakening each day to the eastern light beaming through the front windows knowing 250 years American history unfolded and this home stands the test of time. Be part of mid-coast Maine's stalwart history!

4. 2020-08-04
   status Pending 907-char remark

   Show marketing remark (907 chars)

   This enchanting 3-bed, 1.5 bath cape is known as the 'oldest' home in Rockland. The whisper of history now sirens the next steward to enjoy this home's bright and level . 55 acres located only 1.5 miles from Rockland's trendy downtown and waterfront. The mature gardens will embrace and inspire you to add your unique additions to the garden wonderland. Live on the first floor comfortably with the convenience of an attached single-car garage with direct entry into the inviting eat-in kitchen. Two more bedrooms and a half bath located on second floor. Wide pine floors throughout the 1,656 sq. ft. home. Now, imagine yourself in the kitchen enjoying homecooked meals, or unwinding by the fireplace or awakening each day to the eastern light beaming through the front windows knowing 250 years American history unfolded and this home stands the test of time. Be part of mid-coast Maine's stalwart history!

5. 2020-06-24
   status Pending - Continue to Show 907-char remark

   Show marketing remark (907 chars)

   This enchanting 3-bed, 1.5 bath cape is known as the 'oldest' home in Rockland. The whisper of history now sirens the next steward to enjoy this home's bright and level . 55 acres located only 1.5 miles from Rockland's trendy downtown and waterfront. The mature gardens will embrace and inspire you to add your unique additions to the garden wonderland. Live on the first floor comfortably with the convenience of an attached single-car garage with direct entry into the inviting eat-in kitchen. Two more bedrooms and a half bath located on second floor. Wide pine floors throughout the 1,656 sq. ft. home. Now, imagine yourself in the kitchen enjoying homecooked meals, or unwinding by the fireplace or awakening each day to the eastern light beaming through the front windows knowing 250 years American history unfolded and this home stands the test of time. Be part of mid-coast Maine's stalwart history!

6. 2020-06-21
   listed $149,000 Active 907-char remark

   Show marketing remark (907 chars)

   This enchanting 3-bed, 1.5 bath cape is known as the 'oldest' home in Rockland. The whisper of history now sirens the next steward to enjoy this home's bright and level . 55 acres located only 1.5 miles from Rockland's trendy downtown and waterfront. The mature gardens will embrace and inspire you to add your unique additions to the garden wonderland. Live on the first floor comfortably with the convenience of an attached single-car garage with direct entry into the inviting eat-in kitchen. Two more bedrooms and a half bath located on second floor. Wide pine floors throughout the 1,656 sq. ft. home. Now, imagine yourself in the kitchen enjoying homecooked meals, or unwinding by the fireplace or awakening each day to the eastern light beaming through the front windows knowing 250 years American history unfolded and this home stands the test of time. Be part of mid-coast Maine's stalwart history!

7. 2012-09-18
   soldstatus $133,000 196-char remark

   Show marketing remark (196 chars)

   Sweet 3 bedroom Cape, close to town, short walking distance to 18 hole golf course, new kitchen, many updates to this 1700's home. Enjoy the charming perennial garden's that surround the property.

8. 2011-05-14
   listed $159,900

ⓘ 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: $4,933 · $411/mo
• Projected year-2 tax: $4,933 · $411/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥85°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $27,640
• − Mortgage interest: −$10,637
• − Property taxes: −$4,933
• − Insurance: −$950
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − Depreciation: −$5,524
• Taxable income: $1,173
• Est. tax owed @ 24.0%: −$282
• After-tax cash flow: $3,721/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 13
• NCES district ID: 2314787
• Math proficiency: 77% ▲ 51.00%
• Reading proficiency: 85% ▲ 36.00%
• Median HH income: $43,177
• Composite: 67.81/100
• National rank: #363
• State rank: #84 of 112 in ME

Livability — Rockland

• Score: 62/100
• State rank: #116
• US rank: #16831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockland, ME
• County: Knox County · 7,035 people
• City population: 7,035
• Metro: nan
• Population (ZIP): 7,035
• Household income: $56,533
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 279.0

Population outlook (Knox County) Hauer SSP2

• Today (2025): 39,304 people
• By 2030: 38,497 · -2.1%
• By 2040: 36,090 · -8.2%
• By 2050: 33,681 · -14.3%
• By 2075: 29,934 · -23.8%
• By 2100: 24,633 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 12% Serbian 8% Lithuanian 5%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2%

Political lean MEDSL · Knox

• 2024 margin: D (+18.6) · D 58.2% · R 39.6% · Other 2.1%
• 2008→2024 swing: -2.8pp toward R · 2008: 21.4pp · 2024: 18.6pp
• All cycles: 2024: D+18.6 2020: D+19.9 2016: D+14.3 2012: D+22.6 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.90%
• Current HPI: 341.7862
• Rent YoY: —
• Metro: nan
• State GDP YoY: —
• F500 in state: 0

Price history

+18.8% since first listed

8 events — show timeline

• 2026-04-24 Pending — MREIS
• 2026-03-20 Listed $189,900 MREIS
• 2020-08-10 Sold (MLS) $142,000 MREIS
• 2020-08-04 Pending — MREIS
• 2020-06-24 Pending — MREIS
• 2020-06-21 Listed $149,000 MREIS
• 2012-09-18 Sold (MLS) $133,000 MREIS
• 2011-05-14 Listed $159,900 MREIS

Property tax history

+3.9%/yr

Latest (2025): $4,933 · +19.7% YoY. Source: county tax records.