7 Forest Ave · Orono, ME 04473

$249,900

4 bd · 2.5 ba · 4,104 sqft · SingleFamily public records · 264 Days on market

Built 1830 0.33 ac lot $61/sqft · 65% below area ↓ 29% since listing

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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 +16.2/30.0
• ARV discount +7.5/15.0
• Schools +7.5/10.0
• 1% rule +5.4/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

Key facts

• Multi-story barn
• Workshop area
• Spacious attic

Tags

• MULTI-STORY BARN
• WORKSHOP AREA
• SPACIOUS ATTIC

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#49 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• RSU 26 (suburban): math 88% / reading 90% proficiency, ranked #39 of 112 in ME (top 35%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 25 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).
• At $2,596/mo this rent would consume 51% of the median local household income ($62k/yr) (locally 423% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $100k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.04% ✓
• Cap rate: 6.92%
• Cash-on-cash: 2.25%
• DSCR: 1.10
• GRM: 8.0

CMA / ARV

• ARV (median comp): $704,491
• List price: $249,900
• Delta: -64.53%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.7%
• Equity multiple: 0.54×
• Total profit: $-31,971
• Equity at exit: $37,261

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-16,428
• Equity at exit: $21,607

Cash invested: $69,972 (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 04473

• Home prices YoY: -34.5%
• Active inventory: 25
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,596 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$504 /mo · $6,054/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $131

Break-even live

Break-even rent $2,429

Max offer price $249,900

Occupancy floor 90%

Sensitivity live

Price	-10% $273	-5% $202	+0% $131	+5% $61	+10% $-10
Rent	-10% $-74	-5% $29	+0% $131	+5% $234	+10% $336
Rate	-1.0pp $257	-0.5pp $195	base $131	+0.5pp $67	+1.0pp $1

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   status $249,900 Pending 264 DOM
2. 2026-06-18
   days on market $249,900 Active Under Contract 264 DOM
3. 2026-06-17
   days on market $249,900 Active Under Contract 263 DOM
4. 2026-06-16
   days on market $249,900 Active Under Contract 262 DOM
5. 2026-06-15
   days on market $249,900 Active Under Contract 261 DOM
6. 2026-06-14
   days on market $249,900 Active Under Contract 259 DOM
7. 2026-06-13
   days on market $249,900 Active Under Contract 258 DOM
8. 2026-06-10
   days on market $249,900 Active Under Contract 256 DOM
9. 2026-06-09
   days on market $249,900 Active Under Contract 255 DOM
10. 2026-06-09
    status $249,900 Active Under Contract 254 DOM
11. 2026-06-08
    days on market $249,900 Active 254 DOM
12. 2026-06-07
    days on market $249,900 Active 253 DOM
13. 2026-06-05
    days on market $249,900 Active 250 DOM
14. 2026-06-03
    days on market $249,900 Active 249 DOM
15. 2026-06-02
    days on market $249,900 Active 248 DOM
16. 2026-06-01
    days on market $249,900 Active 247 DOM
17. 2026-05-31
    days on market $249,900 Active 246 DOM
18. 2026-05-30
    days on market $249,900 Active 245 DOM
19. 2025-10-22
    price $249,900 1397-char remark

    Show marketing remark (1397 chars)

    OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

20. 2025-10-22
    price $249,900 1397-char remark

    Show marketing remark (1397 chars)

    OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

21. 2025-10-09
    price $319,000 1397-char remark

    Show marketing remark (1397 chars)

    OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

22. 2025-10-09
    price $319,000 1397-char remark

    Show marketing remark (1397 chars)

    OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

23. 2025-09-27
    listed $350,000 Active 1397-char remark

    Show marketing remark (1397 chars)

    OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

24. 2025-09-26
    listed $350,000 Active 1397-char remark

    Show marketing remark (1397 chars)

    OPPORTUNITY in the heart of ORONO village and Commercial Zoning for maximum flexibility. Amazing single family home that was originally a multi-family, up/down duplex. Dedicated driveway for each unit. It still is used as a duplex without the center wall, which separated the sides. Bring your vision to this expansive 4,104 sq. ft. property, ideally situated in the heart of it all. Minutes from the University of Maine flagship campus. With versatile layouts, this property is well-suited for a range of uses—maximize income as a student rental, a business venture, or keep it as a massive single-family residence, you have options. Storage and functionality are standout features. A large multi-story barn, with a workshop area, and a spacious attic provide endless options for expansion, hobbies, or additional finished living area. The home sits on a . 33-acre lot in one of Orono's most prime locations. Residents and tenants will enjoy the ability to walk straight through to municipal offices, restaurants, pubs, Pat's Pizza, shops, running trails along the river, and all that downtown Orono has to offer. The property does need renovation and TLC, but that means it's truly a blank slate with enormous potential. Opportunities in this location are rare—don't miss your chance to re-imagine the property, and create something special in one of Orono's most desirable settings.

ⓘ 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: $6,054 · $504/mo
• Projected year-2 tax: $6,054 · $504/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 3/10 Moderate 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $31,147
• − Mortgage interest: −$13,998
• − Property taxes: −$6,054
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,492
• − Management: −$2,492
• − Depreciation: −$7,270
• Taxable loss: −$2,408
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $2,154/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 26
• NCES district ID: 2314778
• Math proficiency: 88% ▲ 33.00%
• Reading proficiency: 90% ▲ 21.00%
• Median HH income: $44,087
• Composite: 74.55/100
• National rank: #156
• State rank: #39 of 112 in ME

Livability — Orono

• Score: 73/100
• State rank: #49
• US rank: #5067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orono, ME
• County: Penobscot County · 81,539 people
• City population: 8,371
• Metro: Bangor, ME
• Population (ZIP): 8,371
• Household income: $61,528
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 423.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Asian 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 7% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 92% English-only · Other Indo-European 2% French/Haitian/Cajun 1% Spanish 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: ▼ -116.22%
• Current HPI: 220.35
• Rent YoY: —
• Metro: Bangor, ME
• State GDP YoY: —
• F500 in state: 0

Price history

-28.6% since first listed

6 events — show timeline

• 2025-10-22 Price Changed $249,900 MREIS
• 2025-10-22 Price Changed $249,900 MREIS
• 2025-10-09 Price Changed $319,000 MREIS
• 2025-10-09 Price Changed $319,000 MREIS
• 2025-09-27 Listed $350,000 MREIS
• 2025-09-26 Listed $350,000 MREIS

Property tax history

+4.4%/yr

Latest (2025): $6,054 · +1.7% YoY. Source: county tax records.