53 Elm St · South Thomaston, ME 04858

$379,000

4 bd · 2.0 ba · 1,708 sqft · SingleFamily public records · 108 Days on market

Built 1860 0.64 ac lot $222/sqft · at area comps Est $548k · 31% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +8.0/10.0
• Schools +6.8/10.0
• Cash flow +4.5/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Charming Victorian nestled in the heart of South Thomaston, this inviting 4-bedroom, 2-bath home offers timeless character and small-town charm with peeks of the Weskeag River. Just a short stroll away from the harbor and the beloved Keag Store, famous for fresh lobster rolls, right in your neighborhood. Inside, the home showcases classic Victorian details paired with comfortable living spaces perfect for year-round residence or a coastal getaway. With four spacious bedrooms and two full baths, there's plenty of room for everyone. Located just a short drive from Rockland, you'll have convenient access to shopping, dining, galleries, and the vibrant waterfront, while still enjoying the tranquility of village life. Whether you're looking for a charming primary home, vacation retreat, or investment opportunity, this South Thomaston gem offers the best of Maine coastal living.

Key facts

• Weskeag river
• Victorian home
• Coastal getaway

Tags

• VICTORIAN HOME
• WESKEAG RIVER
• SHORT STROLL TO HARBOR
• CLASSIC VICTORIAN DETAILS
• COASTAL GETAWAY
• CONVENIENT ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $379k.

Deal economics

• At list price, monthly cash flow is $-979 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (45.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (52.1% below list).
• Recommended offer: $182k (52.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — 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: 17 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 ($3k loan paydown + $23k appreciation (6.0% local appreciation)).
• Knox County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $240k; list at $379k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,674 (52.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
3. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.48% ✗
• Cap rate: 3.19%
• Cash-on-cash: -11.07%
• DSCR: 0.51
• GRM: 17.4

CMA / ARV

• ARV (median comp): $548,077
• List price: $379,000
• Delta: -30.85%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Elm St	0.13mi	3/2.0 (-1)	1,654 (-3%)	10mo	$638,000	$386	75
19 Spruce Head Rd	0.30mi	3/1.5 (-1)	1,573 (-8%)	11mo	$525,000	$334	56
82 Spruce Head Rd	0.59mi	3/1.0 (-1)	1,621 (-5%)	9mo	$310,000	$191	48

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

Projected returns pro-forma

6.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.45×
• Total profit: $47,566
• Equity at exit: $238,860

10-year hold

• IRR: 8.6%
• Equity multiple: 2.77×
• Total profit: $188,360
• Equity at exit: $433,683

Cash invested: $106,120 (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 04858

• Home prices YoY: 1.6%
• Active inventory: 17
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $1,817 medium
• Mortgage (P&I): −$1,988
• Tax from tax record: −$268 /mo · $3,221/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-979

Break-even live

Break-even rent $3,056

Max offer price $206,122

Occupancy floor —

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $379,000 Active 108 DOM
2. 2026-06-17
   days on market $379,000 Active 107 DOM
3. 2026-06-16
   days on market $379,000 Active 106 DOM
4. 2026-06-15
   days on market $379,000 Active 105 DOM
5. 2026-06-14
   days on market $379,000 Active 103 DOM
6. 2026-06-10
   days on market $379,000 Active 100 DOM
7. 2026-06-09
   days on market $379,000 Active 99 DOM
8. 2026-06-08
   days on market $379,000 Active 98 DOM
9. 2026-06-07
   days on market $379,000 Active 97 DOM
10. 2026-06-03
    days on market $379,000 Active 93 DOM
11. 2026-06-03
    price $379,000 Active 92 DOM
12. 2026-06-02
    days on market $395,000 Active 92 DOM
13. 2026-06-01
    days on market $395,000 Active 91 DOM
14. 2026-05-31
    days on market $395,000 Active 90 DOM
15. 2026-05-31
    days on market $395,000 Active 89 DOM
16. 2026-04-18
    status Active 885-char remark

    Show marketing remark (885 chars)

    Charming Victorian nestled in the heart of South Thomaston, this inviting 4-bedroom, 2-bath home offers timeless character and small-town charm with peeks of the Weskeag River. Just a short stroll away from the harbor and the beloved Keag Store, famous for fresh lobster rolls, right in your neighborhood. Inside, the home showcases classic Victorian details paired with comfortable living spaces perfect for year-round residence or a coastal getaway. With four spacious bedrooms and two full baths, there's plenty of room for everyone. Located just a short drive from Rockland, you'll have convenient access to shopping, dining, galleries, and the vibrant waterfront, while still enjoying the tranquility of village life. Whether you're looking for a charming primary home, vacation retreat, or investment opportunity, this South Thomaston gem offers the best of Maine coastal living.

17. 2026-04-09
    historical Active Under Contract 885-char remark

    Show marketing remark (885 chars)

    Charming Victorian nestled in the heart of South Thomaston, this inviting 4-bedroom, 2-bath home offers timeless character and small-town charm with peeks of the Weskeag River. Just a short stroll away from the harbor and the beloved Keag Store, famous for fresh lobster rolls, right in your neighborhood. Inside, the home showcases classic Victorian details paired with comfortable living spaces perfect for year-round residence or a coastal getaway. With four spacious bedrooms and two full baths, there's plenty of room for everyone. Located just a short drive from Rockland, you'll have convenient access to shopping, dining, galleries, and the vibrant waterfront, while still enjoying the tranquility of village life. Whether you're looking for a charming primary home, vacation retreat, or investment opportunity, this South Thomaston gem offers the best of Maine coastal living.

18. 2026-03-02
    listed $395,000 Active 885-char remark

    Show marketing remark (885 chars)

    Charming Victorian nestled in the heart of South Thomaston, this inviting 4-bedroom, 2-bath home offers timeless character and small-town charm with peeks of the Weskeag River. Just a short stroll away from the harbor and the beloved Keag Store, famous for fresh lobster rolls, right in your neighborhood. Inside, the home showcases classic Victorian details paired with comfortable living spaces perfect for year-round residence or a coastal getaway. With four spacious bedrooms and two full baths, there's plenty of room for everyone. Located just a short drive from Rockland, you'll have convenient access to shopping, dining, galleries, and the vibrant waterfront, while still enjoying the tranquility of village life. Whether you're looking for a charming primary home, vacation retreat, or investment opportunity, this South Thomaston gem offers the best of Maine coastal living.

19. 2019-08-08
    soldstatus $240,000 Closed 384-char remark

    Show marketing remark (384 chars)

    Sweet classic farmhouse with lots of charm. 3 upstairs bedrooms with space for a 4th on the first floor, 2 full baths, eat-in kitchen, formal dining room, huge master bedroom with loads of closet space, nice sized living room, mud room w/ laundry, and pretty wood floors. Direct entry from the 2-car attached garage. Nice sized yard with an animal containment area. Nicely landscaped.

20. 2019-07-03
    status Pending - Continue to Show 384-char remark

    Show marketing remark (384 chars)

    Sweet classic farmhouse with lots of charm. 3 upstairs bedrooms with space for a 4th on the first floor, 2 full baths, eat-in kitchen, formal dining room, huge master bedroom with loads of closet space, nice sized living room, mud room w/ laundry, and pretty wood floors. Direct entry from the 2-car attached garage. Nice sized yard with an animal containment area. Nicely landscaped.

21. 2019-06-26
    listed $245,000 Active 384-char remark

    Show marketing remark (384 chars)

    Sweet classic farmhouse with lots of charm. 3 upstairs bedrooms with space for a 4th on the first floor, 2 full baths, eat-in kitchen, formal dining room, huge master bedroom with loads of closet space, nice sized living room, mud room w/ laundry, and pretty wood floors. Direct entry from the 2-car attached garage. Nice sized yard with an animal containment area. Nicely landscaped.

22. 2004-03-16
    soldstatus $207,000

ⓘ 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: $3,221 · $268/mo
• Projected year-2 tax: $4,188 · $349/mo
• Expected delta: +$967/yr (+$81/mo · 30.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥84°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $21,801
• − Mortgage interest: −$21,230
• − Property taxes: −$3,221
• − Insurance: −$1,895
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − Depreciation: −$11,025
• Taxable loss: −$19,059
• Est. tax savings @ 24.0%: +$4,574
• After-tax cash flow: $-7,169/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 — South Thomaston

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

Census & demographics

• Population (ZIP): 1,400

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 2%
• Common ancestry: Lithuanian 6% Slovak 6% Serbian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 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: ▲ 6.03%
• Current HPI: 393.2698
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+90.8% since first listed

7 events — show timeline

• 2026-04-18 Relisted — MREIS
• 2026-04-09 Contingent — MREIS
• 2026-03-02 Listed $395,000 MREIS
• 2019-08-08 Sold (MLS) $240,000 MREIS
• 2019-07-03 Pending — MREIS
• 2019-06-26 Listed $245,000 MREIS
• 2004-03-16 Sold (Public Records) $207,000 Public Records

Property tax history

+3.7%/yr

Latest (2024): $3,221 · +4.7% YoY. Source: county tax records.