52 Main St · Thomaston, ME 04861

$245,000

3 bd · 1.0 ba · 1,818 sqft · SingleFamily public records · 494 Days on market

Built 1800 0.25 ac lot $135/sqft · 44% below area Est $356k · 31% under ↓ 21% since listing

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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
• Cash flow +7.5/30.0
• Schools +6.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

Key facts

• Solid basement
• Town water and sewer
• Newer roof shingles

Tags

• NEWER HOT AIR FURNACE
• NEWER ROOF SHINGLES
• TOWN WATER AND SEWER
• SOLID BASEMENT
• CORNER LOT
• ACCESS FROM TWO STREETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (21.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (32.0% below list).
• Recommended offer: $167k (32.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#53 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: employment 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.
• Zoned schools: Oceanside Middle School (math 74% / reading 86%, grade A+, #59 of 85 statewide, top 71%, 349 students, 52% FRL); Oceanside High School (math 82% / reading 87%, grade A, #75 of 108 statewide, top 83%, 525 students, 50% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 21 active listings in the ZIP; 160 units permitted in Knox County in 2024 (58 in 5+ unit buildings).

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 494 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $166,609 (32.0% 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 494 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1800 — 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.24%
• DSCR: 0.77
• GRM: 12.3

CMA / ARV

• ARV (median comp): $355,816
• List price: $245,000
• Delta: -31.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Knox Ridge Ave	0.16mi	3/2.0	1,700 (-6%)	10mo	$520,000	$306	70
24 Lawrence Ave	0.20mi	3/2.0	1,923 (+6%)	18mo	$425,000	$221	63
97 Gleason St	0.10mi	3/2.0	2,087 (+15%)	8mo	$390,000	$187	60
57 Beechwood St	0.35mi	2/2.0 (-1)	1,610 (-11%)	1mo	$491,000	$305	55
25 Water St	0.62mi	3/1.0	1,928 (+6%)	8mo	$325,000	$169	55
14 Main Street Mall	0.60mi	3/3.0	1,684 (-7%)	2mo	$337,000	$200	50
295 Main St	0.69mi	3/2.0	1,743 (-4%)	10mo	$360,000	$207	49
11 Elliot St	0.55mi	3/2.0	2,070 (+14%)	21mo	$535,000	$258	30

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: -25.2%
• Equity multiple: 0.14×
• Total profit: $-58,799
• Equity at exit: $36,530

10-year hold

• IRR: -21.4%
• Equity multiple: -0.11×
• Total profit: $-75,856
• Equity at exit: $21,183

Cash invested: $68,600 (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 04861

• Home prices YoY: -16.6%
• Active inventory: 21
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,666 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$229 /mo · $2,746/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-300

Break-even live

Break-even rent $2,045

Max offer price $192,090

Occupancy floor —

Sensitivity live

Price	-10% $-161	-5% $-230	+0% $-300	+5% $-369	+10% $-438
Rent	-10% $-431	-5% $-365	+0% $-300	+5% $-234	+10% $-168
Rate	-1.0pp $-176	-0.5pp $-237	base $-300	+0.5pp $-363	+1.0pp $-428

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $245,000 Active 494 DOM
2. 2026-06-18
   days on market $245,000 Active 491 DOM
3. 2026-06-17
   days on market $245,000 Active 490 DOM
4. 2026-06-16
   days on market $245,000 Active 489 DOM
5. 2026-06-15
   days on market $245,000 Active 488 DOM
6. 2026-06-14
   days on market $245,000 Active 486 DOM
7. 2026-06-10
   days on market $245,000 Active 483 DOM
8. 2026-06-09
   days on market $245,000 Active 482 DOM
9. 2026-06-08
   days on market $245,000 Active 481 DOM
10. 2026-06-07
    days on market $245,000 Active 480 DOM
11. 2026-06-03
    days on market $245,000 Active 476 DOM
12. 2026-06-02
    days on market $245,000 Active 475 DOM
13. 2026-06-01
    days on market $245,000 Active 474 DOM
14. 2026-05-31
    days on market $245,000 Active 473 DOM
15. 2026-05-31
    days on market $245,000 Active 472 DOM
16. 2025-09-09
    price $245,000 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

17. 2025-08-13
    status Active 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

18. 2025-08-11
    historical 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

19. 2025-08-01
    price $260,000 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

20. 2025-06-04
    price $269,500 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

21. 2025-03-25
    price $295,000 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

22. 2025-02-10
    listed $310,000 Active 465-char remark

    Show marketing remark (465 chars)

    Looking for a wonderful old cape to renovate with your own ideas and taste? This 1800's cape home is waiting for someone to make this home the beauty it once was. Does it need to be completely renovated? yes, but the bones are good! Newer Hot Air furnace, Newer roof shingles, Town Water and Sewer. Solid basement. Close to the public library only a short distance to downtown shopping. A nice corner lot with access from two streets. This is a project worth doing!

ⓘ 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: $2,746 · $229/mo
• Projected year-2 tax: $3,039 · $253/mo
• Expected delta: +$293/yr (+$24/mo · 10.7%)

ⓘ 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 7 d/yr ≥85°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $19,993
• − Mortgage interest: −$13,724
• − Property taxes: −$2,746
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$7,127
• Taxable loss: −$8,028
• Est. tax savings @ 24.0%: +$1,927
• After-tax cash flow: $-1,667/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 — Thomaston

• Score: 72/100
• State rank: #53
• US rank: #5748

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomaston, ME
• Population (ZIP): 2,761

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 2% Black 1% Native American 1%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 7% Romanian 5% Slovak 4%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▼ -43.39%
• Current HPI: 217.73
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.0% since first listed

7 events — show timeline

• 2025-09-09 Price Changed $245,000 MREIS
• 2025-08-13 Relisted — MREIS
• 2025-08-11 Delisted — MREIS
• 2025-08-01 Price Changed $260,000 MREIS
• 2025-06-04 Price Changed $269,500 MREIS
• 2025-03-25 Price Changed $295,000 MREIS
• 2025-02-10 Listed $310,000 MREIS

Property tax history

+4.4%/yr

Latest (2024): $2,746 · +5.9% YoY. Source: county tax records.