498 Cushing Rd · Cushing, ME 04563

$350,000

3 bd · 1.0 ba · 1,056 sqft · MultiFamily · 45 Days on market

Built 1992 1.01 ac lot $331/sqft · 23% above area Est $284k · 23% over ↓ 9% 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 +24.7/30.0
• Appreciation +8.2/10.0
• DSCR +8.0/10.0
• Schools +6.8/10.0
• 1% rule +5.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Move-in Ready Midcoast Ranch with Modern Updates! Enjoy efficient, one-floor living in this beautifully updated 3 bedroom, 1 bathroom ranch. Recent updates include new windows throughout, a new kitchen, bath, and garage door. Set on a generous 1.01+/- acre lot with mature landscaping, you'll have plenty of space and opportunity to make the property your own. The home features an efficient layout and includes a detached 2-car garage. Located in a quiet, established subdivision in a desirable rural area, you are still conveniently close to Thomaston, Rockland, the ocean, and all the attractions Midcoast has to offer. Don't miss this opportunity for great one-floor living!

Key facts

• New bath
• New kitchen
• One-floor living

Tags

• ONE-FLOOR LIVING
• NEW WINDOWS
• NEW KITCHEN
• NEW BATH
• NEW GARAGE DOOR
• MATURE LANDSCAPING

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved parking; Additional parking for 5–10 vehicles; Detached vehicle storage
• Utilities: Private well water; Private sewer with septic tank (septic design available); Electric service with circuit breakers; Water heater tied into heating system
• Home design: Single family residence; Modular construction; Metal roof; Vinyl siding with wood frame; Built in 1992
• Construction: Wood frame construction; Vinyl siding; Metal roof; Modular structure; Built in 1992
• Exterior features: Deck; Shed(s); Well landscaped, open and level lot; Rural setting; Subdivided; Paved road access

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Primary bedroom on the first floor; Bedroom 2 on the first floor; Bedroom 3 on the first floor
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Pellet stove
• Interior features: One-floor living; First-floor primary bedroom with bath; Storm doors; Low-emissivity windows; Cable available
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $340k (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 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: 25 active listings in the ZIP; 160 units permitted in Knox County in 2024 (58 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $22k appreciation (6.3% local appreciation)).
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $339,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.92%
• DSCR: 1.40
• GRM: 7.9

CMA / ARV

• ARV (median comp): $283,865
• List price: $350,000
• Delta: 23.30%
• Verdict: OVERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

6.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.57×
• Total profit: $154,322
• Equity at exit: $227,416

10-year hold

• IRR: 22.0%
• Equity multiple: 5.24×
• Total profit: $415,685
• Equity at exit: $418,944

Cash invested: $98,000 (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 04563

• Home prices YoY: 2.8%
• Active inventory: 25
• Price-to-rent: 23.8×

Monthly cashflow live

• Estimated rent: $3,669 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$188 /mo · $2,261/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$770
• Net cashflow: $729

Break-even live

Break-even rent $2,746

Max offer price $350,000

Occupancy floor 75%

Sensitivity live

Price	-10% $927	-5% $828	+0% $729	+5% $630	+10% $531
Rent	-10% $439	-5% $584	+0% $729	+5% $874	+10% $1,019
Rate	-1.0pp $905	-0.5pp $818	base $729	+0.5pp $638	+1.0pp $546

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,669
Total (3 units)			$3,669

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $350,000 Active 45 DOM
2. 2026-06-17
   days on market $350,000 Active 44 DOM
3. 2026-06-16
   days on market $350,000 Active 43 DOM
4. 2026-06-15
   days on market $350,000 Active 42 DOM
5. 2026-06-14
   days on market $350,000 Active 40 DOM
6. 2026-06-10
   days on market $350,000 Active 37 DOM
7. 2026-06-09
   days on market $350,000 Active 36 DOM
8. 2026-06-08
   days on market $350,000 Active 35 DOM
9. 2026-06-07
   pricedays on market $350,000 Active 34 DOM
10. 2026-06-03
    days on market $375,000 Active 30 DOM
11. 2026-06-02
    days on market $375,000 Active 29 DOM
12. 2026-06-01
    days on market $375,000 Active 28 DOM
13. 2026-05-31
    days on market $375,000 Active 27 DOM
14. 2026-05-31
    days on market $375,000 Active 26 DOM
15. 2026-05-04
    listed $385,000 Active 679-char remark

ⓘ 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: $2,261 · $188/mo
• Projected year-2 tax: $3,510 · $293/mo
• Expected delta: +$1,250/yr (+$104/mo · 55.3%)

ⓘ 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 4/10 Moderate 7 d/yr ≥84°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $44,028
• − Mortgage interest: −$19,605
• − Property taxes: −$2,261
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,522
• − Management: −$3,522
• − Depreciation: −$10,182
• Taxable income: $3,185
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $7,981/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 — Cushing

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

Census & demographics

• Population (ZIP): 1,407

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 (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Lithuanian 8% Slovak 4% Russian 4%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

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: ▲ 6.33%
• Current HPI: 231.4232
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-9.1% since first listed

3 events — show timeline

• 2026-06-05 Price Changed $350,000 MREIS
• 2026-05-20 Price Changed $375,000 MREIS
• 2026-05-04 Listed $385,000 MREIS

Property tax history

+4.9%/yr

Latest (2025): $2,261 · +9.8% YoY. Source: county tax records.