11 Pleasant St · Rockland, ME 04841

$225,000

4 bd · 1.0 ba · 1,228 sqft · SingleFamily public records · 48 Days on market

Built 1898 9,583 sqft lot $183/sqft · 33% below area Est $337k · 33% under

---

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 +18.0/30.0
• ARV discount +15.0/15.0
• Schools +6.8/10.0
• DSCR +5.6/10.0
• 1% rule +5.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Value-add opportunity with water views in Rockland. 11 Pleasant Street offers a rare chance for investors, developers, or business-minded buyers to unlock the full potential of a large intown property in a highly desirable coastal market. This 4+ bedroom home features an office, living room, large open kitchen, and oversized bathroom, with the space and layout to support a range of future possibilities. Being sold as is, the property needs work, but the upside is compelling. Location opens the door for buyers to investigate residential, business, rental, live/work, or mixed-use potential depending on their vision and local requirements. With a large lot, water views, and a prime in-town location, this is the kind of property where improvements and creativity could pay off.

Key facts

• Water views
• Large lot
• 9,583 sq ft lot

Tags

• WATER VIEWS
• LARGE LOT
• PRIME IN-TOWN LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.3% in Rockland — 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 62/100 on livability (#116 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, amenities F, commute F.
• 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: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 160 units permitted in Knox County in 2024 (58 in 5+ unit buildings).
• At $2,358/mo this rent would consume 50% of the median local household income ($57k/yr) (locally 279% 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.
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 8→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1898 — 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. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 8.0

CMA / ARV

• ARV (median comp): $336,731
• List price: $225,000
• Delta: -33.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 State St	0.09mi	3/1.0 (-1)	1,220 (-1%)	8mo	$415,000	$340	83
56 Thomaston St	0.51mi	3/2.0 (-1)	1,224 (-0%)	2mo	$345,000	$282	65
105 Broadway	0.38mi	3/1.5 (-1)	1,264 (+3%)	16mo	$315,000	$249	57
20 Lisle St	0.33mi	3/1.0 (-1)	1,323 (+8%)	14mo	$285,000	$215	55
117 Summer St	0.65mi	3/2.0 (-1)	1,204 (-2%)	4mo	$365,000	$303	54
131 Limerock St	0.47mi	3/2.0 (-1)	1,200 (-2%)	15mo	$375,000	$313	53
297 Broadway	0.69mi	3/1.5 (-1)	1,228 (0%)	10mo	$360,000	$293	52
34 Thomaston St	0.46mi	3/1.0 (-1)	1,133 (-8%)	16mo	$100,000	$88	48
150 Limerock St	0.49mi	3/2.0 (-1)	1,275 (+4%)	22mo	$480,000	$376	43
288 Broadway	0.67mi	3/2.0 (-1)	1,305 (+6%)	10mo	$325,000	$249	41
41 Granite St	0.53mi	3/2.0 (-1)	1,324 (+8%)	23mo	$468,000	$353	34
20 Harborside Ter	0.74mi	3/2.0 (-1)	1,350 (+10%)	10mo	$537,600	$398	32

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

Projected returns pro-forma

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

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-24,012
• Equity at exit: $33,548

10-year hold

• IRR: -1.1%
• Equity multiple: 0.93×
• Total profit: $-4,587
• Equity at exit: $19,454

Cash invested: $63,000 (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 04841

• Home prices YoY: -17.8%
• Active inventory: 71
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,358 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$396 /mo · $4,747/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $194

Break-even live

Break-even rent $2,113

Max offer price $225,000

Occupancy floor 87%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 N Main St Unit 2 Rockland, ME	3.0	1.0	850	$2,000	$2.35	19d	1	1.15mi

Listing history 1 events

1. 2026-04-10
   listed $250,000 Active 783-char remark

   Show marketing remark (783 chars)

   Value-add opportunity with water views in Rockland. 11 Pleasant Street offers a rare chance for investors, developers, or business-minded buyers to unlock the full potential of a large intown property in a highly desirable coastal market. This 4+ bedroom home features an office, living room, large open kitchen, and oversized bathroom, with the space and layout to support a range of future possibilities. Being sold as is, the property needs work, but the upside is compelling. Location opens the door for buyers to investigate residential, business, rental, live/work, or mixed-use potential depending on their vision and local requirements. With a large lot, water views, and a prime in-town location, this is the kind of property where improvements and creativity could pay off.

ⓘ 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: $4,747 · $396/mo
• Projected year-2 tax: $4,747 · $396/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 5/10 Major 8 d/yr ≥85°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $28,299
• − Mortgage interest: −$12,603
• − Property taxes: −$4,747
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − Depreciation: −$6,545
• Taxable loss: −$1,250
• Est. tax savings @ 24.0%: +$300
• After-tax cash flow: $2,625/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 — Rockland

• Score: 62/100
• State rank: #116
• US rank: #16831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockland, ME
• County: Knox County · 7,035 people
• City population: 7,035
• Metro: nan
• Population (ZIP): 7,035
• Household income: $56,533
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 279.0

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 12% Serbian 8% Lithuanian 5%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2%

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: ▼ -73.90%
• Current HPI: 341.7862
• Rent YoY: —
• Metro: nan
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-10 Listed $250,000 MREIS

Property tax history

+6.0%/yr

Latest (2025): $4,747 · +40.8% YoY. Source: county tax records.