262 Main St · Mattawamkeag, ME 04459

$79,900

4 bd · 2.0 ba · 2,000 sqft · MultiFamily · 50 Days on market

Built 1900 0.34 ac lot $40/sqft · 45% below area Est $146k · 45% under ↓ 3% 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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +6.8/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Livability +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

The bones of this property are great, public water and sewer, hot water radiator heating. 4 bedrooms, 2 full baths, laundry is on the main floor. Use your imagination to create some memories in this large home, that is close to amenities, Lincoln is 15 minutes away that has Hannaford, Walmart, Walgreens, Steaks and Stuff many restaurants. Affordable living in a small community.

Key facts

• Public sewer
• Close to amenities
• Public water

Tags

• PUBLIC WATER
• PUBLIC SEWER
• HOT WATER RADIATOR HEATING
• CLOSE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 67 (rural): math 79% / reading 85% proficiency, ranked #83 of 112 in ME (top 74%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 8 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($552 loan paydown + $2k appreciation (3.0% local appreciation)).
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 4.18% ✓
• Cap rate: 37.02%
• Cash-on-cash: 109.75%
• DSCR: 5.88
• GRM: 2.0

CMA / ARV

• ARV (median comp): $146,490
• List price: $79,900
• Delta: -45.46%
• 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: —
• Equity multiple: 7.26×
• Total profit: $140,018
• Equity at exit: $35,926

10-year hold

• IRR: —
• Equity multiple: 15.12×
• Total profit: $315,926
• Equity at exit: $55,367

Cash invested: $22,372 (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 04459

• Active inventory: 8
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,336 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$137 /mo · $1,644/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $2,046

Break-even live

Break-even rent $746

Max offer price $79,900

Occupancy floor 34%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,336
Total (3 units)			$3,336

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-03
   status Pending 380-char remark

   Show marketing remark (380 chars)

   The bones of this property are great, public water and sewer, hot water radiator heating. 4 bedrooms, 2 full baths, laundry is on the main floor. Use your imagination to create some memories in this large home, that is close to amenities, Lincoln is 15 minutes away that has Hannaford, Walmart, Walgreens, Steaks and Stuff many restaurants. Affordable living in a small community.

2. 2026-04-14
   price $79,900 380-char remark

   Show marketing remark (380 chars)

   The bones of this property are great, public water and sewer, hot water radiator heating. 4 bedrooms, 2 full baths, laundry is on the main floor. Use your imagination to create some memories in this large home, that is close to amenities, Lincoln is 15 minutes away that has Hannaford, Walmart, Walgreens, Steaks and Stuff many restaurants. Affordable living in a small community.

3. 2026-03-13
   listed $82,500 Active 380-char remark

   Show marketing remark (380 chars)

   The bones of this property are great, public water and sewer, hot water radiator heating. 4 bedrooms, 2 full baths, laundry is on the main floor. Use your imagination to create some memories in this large home, that is close to amenities, Lincoln is 15 minutes away that has Hannaford, Walmart, Walgreens, Steaks and Stuff many restaurants. Affordable living in a small community.

ⓘ 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: $1,644 · $137/mo
• Projected year-2 tax: $1,644 · $137/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $40,032
• − Mortgage interest: −$4,476
• − Property taxes: −$1,644
• − Insurance: −$400
• − Repairs & maintenance: −$3,203
• − Management: −$3,203
• − Depreciation: −$2,324
• Taxable income: $24,783
• Est. tax owed @ 24.0%: −$5,948
• After-tax cash flow: $18,606/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 67
• NCES district ID: 2314777
• Math proficiency: 79% ▲ 50.00%
• Reading proficiency: 85% ▲ 38.00%
• Median HH income: $36,167
• Composite: 67.98/100
• National rank: #357
• State rank: #83 of 112 in ME

Livability — Mattawamkeag

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Mattawamkeag, ME
• Population (ZIP): 703

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 4%
• Common ancestry: Lithuanian 18% Slovak 6% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-3.2% since first listed

3 events — show timeline

• 2026-05-03 Pending — MREIS
• 2026-04-14 Price Changed $79,900 MREIS
• 2026-03-13 Listed $82,500 MREIS

Property tax history

+4.9%/yr

Latest (2025): $1,644 · +18.2% YoY. Source: county tax records.