36 Hix Rd · Augusta, ME 04363

$182,700

2 bd · 1.0 ba · 1,264 sqft · MultiFamily · 61 Days on market

Built 1976 8.03 ac lot ↓ 3% since listing

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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 +28.4/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• 1% rule +6.9/10.0
• Livability +4.0/5.0
• Rent growth +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

Escape to the peace and space of Maine living with this charming 2-bedroom, 1-bath home set on 8.03± acres in desirable Windsor. Enjoy the perfect blend of privacy and convenience, with open space to garden, explore, relax, or simply take in the beauty of your own land. Windsor is loved for its scenic countryside, welcoming community, and local Amish farm stands and handmade goods. Just a short drive to Augusta for shopping, dining, hospitals, and entertainment, while nearby lakes and outdoor recreation make every season enjoyable. A wonderful opportunity to enjoy the Maine lifestyle buyers are searching for.

Key facts

• 8.03 acre lot
• Garage
• Built 1976

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $183k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $183k).
• Recommended offer: $172k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 2.6% in Augusta — 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 81/100 on livability (#15 in ME, #1,476 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D-, employment F.
• RSU 12 (rural): math 86% / reading 86% proficiency, ranked #50 of 112 in ME (top 45%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 28 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% 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 $51k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Recommended offer $171,738 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.86%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 34.5%
• Equity multiple: 3.68×
• Total profit: $137,079
• Equity at exit: $164,591

10-year hold

• IRR: 29.7%
• Equity multiple: 8.31×
• Total profit: $373,994
• Equity at exit: $354,946

Cash invested: $51,156 (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 04363

• Home prices YoY: 4.3%
• Active inventory: 28
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,180 medium
• Mortgage (P&I): −$958
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $591

Break-even live

Break-even rent $1,432

Max offer price $182,700

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,180
Total (2 units)			$2,180

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: $45,675
• Closing costs: $5,481
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $182,700 Active 61 DOM
2. 2026-06-18
   days on market $182,700 Active 60 DOM
3. 2026-06-17
   days on market $182,700 Active 59 DOM
4. 2026-06-17
   price $182,700 Active 58 DOM
5. 2026-06-16
   days on market $192,700 Active 58 DOM
6. 2026-06-15
   days on market $192,700 Active 57 DOM
7. 2026-06-14
   days on market $192,700 Active 55 DOM
8. 2026-06-12
   days on market $192,700 Active 54 DOM
9. 2026-06-09
   days on market $192,700 Active 51 DOM
10. 2026-06-08
    days on market $192,700 Active 50 DOM
11. 2026-06-07
    days on market $192,700 Active 49 DOM
12. 2026-06-05
    days on market $192,700 Active 46 DOM
13. 2026-06-02
    days on market $192,700 Active 44 DOM
14. 2026-06-01
    days on market $192,700 Active 43 DOM
15. 2026-05-31
    days on market $192,700 Active 42 DOM
16. 2026-05-30
    days on market $192,700 Active 41 DOM
17. 2026-05-18
    price $192,700 623-char remark

    Show marketing remark (623 chars)

    Escape to the peace and space of Maine living with this charming 2-bedroom, 1-bath home set on 8.03± acres in desirable Windsor. Enjoy the perfect blend of privacy and convenience, with open space to garden, explore, relax, or simply take in the beauty of your own land. Windsor is loved for its scenic countryside, welcoming community, and local Amish farm stands and handmade goods. Just a short drive to Augusta for shopping, dining, hospitals, and entertainment, while nearby lakes and outdoor recreation make every season enjoyable. A wonderful opportunity to enjoy the Maine lifestyle buyers are searching for.

18. 2026-04-19
    listed $198,200 Active 623-char remark

    Show marketing remark (623 chars)

    Escape to the peace and space of Maine living with this charming 2-bedroom, 1-bath home set on 8.03± acres in desirable Windsor. Enjoy the perfect blend of privacy and convenience, with open space to garden, explore, relax, or simply take in the beauty of your own land. Windsor is loved for its scenic countryside, welcoming community, and local Amish farm stands and handmade goods. Just a short drive to Augusta for shopping, dining, hospitals, and entertainment, while nearby lakes and outdoor recreation make every season enjoyable. A wonderful opportunity to enjoy the Maine lifestyle buyers are searching for.

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: +$659/yr (+$55/mo · 56.5%)

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

Taxation est. · year 1

• Rental income: $26,160
• − Mortgage interest: −$10,234
• − Property taxes: −$1,167
• − Insurance: −$914
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$5,315
• Taxable income: $4,345
• Est. tax owed @ 24.0%: −$1,043
• After-tax cash flow: $6,046/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 12
• NCES district ID: 2314780
• Math proficiency: 86% ▲ 58.00%
• Reading proficiency: 86% ▲ 35.00%
• Median HH income: $49,792
• Composite: 72.62/100
• National rank: #197
• State rank: #50 of 112 in ME

Livability — Augusta

• Score: 81/100
• State rank: #15
• US rank: #1476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 26,690
• Population (ZIP): 2,666

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 12% Italian 4% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.50%
• Current HPI: 254.0093
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-2.8% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $192,700 MREIS
• 2026-04-19 Listed $198,200 MREIS

Property tax history

+0.2%/yr

Latest (2025): $1,167 · +2.1% YoY. Source: county tax records.