61 Washington St · Rumford, ME 04276

$165,000

4 bd · 2.0 ba · 2,316 sqft · MultiFamily public records · 151 Days on market

Built 1900 4,791 sqft lot $71/sqft · 10% above area Est $146k · 13% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +6.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity in this well maintained two unit building featuring spacious units and updated electrical panels. Each unit offers laundry hookups along with full attic and basement access for ample storage. Enclosed front and back porches add extra living space, with limited off street parking, all within walking distance to many amenities the community has to offer.

Key facts

• Two unit building
• Full attic access
• Full basement access

Tags

• TWO UNIT BUILDING
• UPDATED ELECTRICAL PANELS
• LAUNDRY HOOKUPS
• FULL ATTIC ACCESS
• FULL BASEMENT ACCESS
• ENCLOSED FRONT PORCHES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $535/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 6.0% in Rumford — 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 75/100 on livability (#39 in ME, #4,030 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D, schools F, amenities F.
• RSU 10 (rural): math 72% / reading 79% proficiency, ranked #107 of 112 in ME (top 96%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 83 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Oxford County population projected at -21% 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 $46k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $60k; list at $165k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.68% ✓
• Cap rate: 14.08%
• Cash-on-cash: 27.80%
• DSCR: 2.24
• GRM: 5.0

CMA / ARV

• ARV (median comp): $146,354
• List price: $165,000
• Delta: 12.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
86 Lincoln Ave	0.51mi	4/2.0	2,288 (-1%)	22mo	$182,500	$80	56
305 Penobscot St	0.29mi	4/2.0	1,972 (-15%)	9mo	$120,000	$61	54
205 Spruce St	0.30mi	5/3.0 (+1)	2,152 (-7%)	19mo	$190,000	$88	49
319 Knox St	0.35mi	5/3.0 (+1)	2,470 (+7%)	21mo	$200,000	$81	46

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

Projected returns pro-forma

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

5-year hold

• IRR: 45.3%
• Equity multiple: 4.42×
• Total profit: $158,070
• Equity at exit: $148,645

10-year hold

• IRR: 39.3%
• Equity multiple: 9.92×
• Total profit: $411,936
• Equity at exit: $320,559

Cash invested: $46,200 (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 04276

• Home prices YoY: 4.4%
• Active inventory: 83
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,774 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$187 /mo · $2,244/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $1,070

Break-even live

Break-even rent $1,419

Max offer price $165,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,164	-5% $1,117	+0% $1,070	+5% $1,024	+10% $977
Rent	-10% $851	-5% $961	+0% $1,070	+5% $1,180	+10% $1,290
Rate	-1.0pp $1,154	-0.5pp $1,112	base $1,070	+0.5pp $1,028	+1.0pp $984

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,774
Total (2 units)			$2,774

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $165,000 Active 151 DOM
2. 2026-06-18
   days on market $165,000 Active 149 DOM
3. 2026-06-17
   days on market $165,000 Active 148 DOM
4. 2026-06-16
   days on market $165,000 Active 147 DOM
5. 2026-06-15
   days on market $165,000 Active 146 DOM
6. 2026-06-13
   days on market $165,000 Active 144 DOM
7. 2026-06-12
   days on market $165,000 Active 143 DOM
8. 2026-06-09
   days on market $165,000 Active 140 DOM
9. 2026-06-08
   days on market $165,000 Active 139 DOM
10. 2026-06-07
    days on market $165,000 Active 138 DOM
11. 2026-06-07
    days on market $165,000 Active 137 DOM
12. 2026-06-04
    days on market $165,000 Active 134 DOM
13. 2026-06-02
    days on market $165,000 Active 133 DOM
14. 2026-06-01
    days on market $165,000 Active 132 DOM
15. 2026-05-31
    days on market $165,000 Active 131 DOM
16. 2026-05-31
    days on market $165,000 Active 130 DOM
17. 2026-01-20
    listed $165,000 Active 383-char remark

    Show marketing remark (383 chars)

    Great investment opportunity in this well maintained two unit building featuring spacious units and updated electrical panels. Each unit offers laundry hookups along with full attic and basement access for ample storage. Enclosed front and back porches add extra living space, with limited off street parking, all within walking distance to many amenities the community has to offer.

18. 2021-09-15
    status Pending 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

19. 2021-09-15
    soldstatus $60,000 Closed 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

20. 2021-06-29
    status Pending - Continue to Show 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

21. 2021-06-03
    status Active 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

22. 2021-06-01
    historical 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

23. 2021-05-25
    status Active 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

24. 2021-05-18
    status Pending - Continue to Show 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

25. 2021-03-04
    listed $74,900 Active 364-char remark

    Show marketing remark (364 chars)

    Great Investment Opportunity! This a well maintained 2-unit building, electrical panels have been updated within the last 4 years. The apartments are spacious with 2 bedrooms, 1 bath, kitchen, dining room, living room and laundry hook-up. There is a full attic accessed through the 2nd floor apartment along with enclosed front and back porches. Must See! #2143

26. 2016-11-10
    soldstatus $30,000 Sold
27. 2016-10-25
    status Pending
28. 2016-06-29
    price $39,900
29. 2016-04-13
    listed $52,400 Active
30. 2008-08-28
    soldstatus $40,760

ⓘ 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: $2,244 · $187/mo
• Projected year-2 tax: $2,244 · $187/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 2/10 Low 8 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,288
• − Mortgage interest: −$9,243
• − Property taxes: −$2,244
• − Insurance: −$825
• − Repairs & maintenance: −$2,663
• − Management: −$2,663
• − Depreciation: −$4,800
• Taxable income: $10,850
• Est. tax owed @ 24.0%: −$2,604
• After-tax cash flow: $10,241/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 10
• NCES district ID: 2314795
• Math proficiency: 72% ▲ 50.00%
• Reading proficiency: 79% ▲ 34.00%
• Median HH income: $37,647
• Composite: 62.72/100
• National rank: #671
• State rank: #107 of 112 in ME

Livability — Rumford

• Score: 75/100
• State rank: #39
• US rank: #4030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rumford, ME
• Population (ZIP): 5,918

Population outlook (Oxford County) Hauer SSP2

• Today (2025): 55,853 people
• By 2030: 54,190 · -3.0%
• By 2040: 49,484 · -11.4%
• By 2050: 43,958 · -21.3%
• By 2075: 32,308 · -42.2%
• By 2100: 21,858 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Lithuanian 27% Slovak 5% German 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Tagalog/Filipino 1%

Political lean MEDSL · Oxford

• 2024 margin: R (+12.9) · D 42.7% · R 55.6% · Other 1.7%
• 2008→2024 swing: -28.9pp toward R · 2008: 16.0pp · 2024: -12.9pp
• All cycles: 2024: R+12.9 2020: R+8.8 2016: R+13.0 2012: D+14.9 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.73%
• Current HPI: 301.2786
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+304.8% since first listed

14 events — show timeline

• 2026-01-20 Listed $165,000 MREIS
• 2021-09-15 Pending — MREIS
• 2021-09-15 Sold (MLS) $60,000 MREIS
• 2021-06-29 Pending — MREIS
• 2021-06-03 Relisted — MREIS
• 2021-06-01 Delisted — MREIS
• 2021-05-25 Relisted — MREIS
• 2021-05-18 Pending — MREIS
• 2021-03-04 Listed $74,900 MREIS
• 2016-11-10 Sold (MLS) $30,000 MREIS
• 2016-10-25 Pending — MREIS
• 2016-06-29 Price Changed $39,900 MREIS
• 2016-04-13 Listed $52,400 MREIS
• 2008-08-28 Sold (Public Records) $40,760 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,244 · +12.7% YoY. Source: county tax records.