20 Wheeler Street St Unit 1-4 · Livermore Falls, ME 04254

$220,000

6 bd · 4.0 ba · 2,480 sqft · MultiFamily · 16 Days on market

Built 1900 Fair condition 6,098 sqft lot

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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 +20.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• DSCR +6.5/10.0
• Schools +6.5/10.0
• 1% rule +5.4/10.0
• Livability +3.4/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great property for investors. This 4 Unit is fully rented and has a very good rental history. Close to all in-town amenities with easy access to Route 133. Unit #1 rent is under market.

Key facts

• 6,098 sq ft lot
• 5 parking spots
• Built 1900

Property features AI

Finance

• Other: Thermostat listed as a green energy/efficiency feature
• Financial info: Total of 4 rental units; Gross income reported: $42,000; Operating expenses reported: $27,315; Sample actual rents by unit: $500, $800, $1,100, $1,100
• HOA & community: No pet restrictions

Exterior

• Parking: On-site gravel parking with 5–10 spaces
• Utilities: Public water; Public sewer; Utilities are on
• Home design: Multi-level building; Built in 1900
• Construction: Wood frame with vinyl siding; Stone foundation; Metal roof
• Exterior features: Porch; Fenced yard; Near golf course, shopping, and town; Level neighborhood lot; Paved road access

Interior

• Kitchen: Refrigerator included in each unit
• Bedrooms: Four total units: two 1-bedroom units and two 2-bedroom units; Unit breakdown: Unit 1 — 1 bedroom (first level); Unit 2 — 1 bedroom (second level); Unit 3 — 2 bedrooms (second level); Unit 4 — 2 bedrooms (first level)
• Flooring: Carpet; Laminate; Vinyl; Wood; Linoleum; Luxury vinyl plank
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Has heating; Baseboard heating; Hot water heating; Zoned heating; Circuit breaker electric
• Interior features: First-floor bedroom; Bathtub; Shower; Unfurnished
• Laundry & utility: Washer hookup; Water heater tied to heating system (off heating system)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $220k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive. Per door: $146/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.7% in Livermore Falls — 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 67/100 on livability (#95 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• RSU 73 (rural): math 75% / reading 81% proficiency, ranked #91 of 112 in ME (top 81%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 35 active listings in the ZIP; 358 units permitted in Androscoggin County in 2024 (57 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.9% local appreciation)).
• Androscoggin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,700 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-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. 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: 1.04% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.70%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $101,680
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Church St	0.46mi	6/3.0	2,640 (+6%)	2mo	$98,000	$37	63
14 Monroe St	0.34mi	5/2.0 (-1)	2,400 (-3%)	8mo	$60,000	$25	58
24 Union St	0.17mi	6/4.0	2,850 (+15%)	21mo	$248,000	$87	50
9 Maple St	0.67mi	6/2.0	2,184 (-12%)	8mo	$90,000	$41	34
8 Jewell St	0.56mi	7/3.0 (+1)	2,766 (+12%)	15mo	$204,175	$74	34

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

Projected returns pro-forma

3.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.90×
• Total profit: $55,183
• Equity at exit: $109,565

10-year hold

• IRR: 16.1%
• Equity multiple: 3.57×
• Total profit: $158,467
• Equity at exit: $177,643

Cash invested: $61,600 (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 04254

• Home prices YoY: 1.2%
• Active inventory: 35
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $293

Break-even live

Break-even rent $1,925

Max offer price $220,000

Occupancy floor 82%

Sensitivity live

Price	-10% $445	-5% $369	+0% $293	+5% $217	+10% $141
Rent	-10% $111	-5% $202	+0% $293	+5% $383	+10% $474
Rate	-1.0pp $403	-0.5pp $349	base $293	+0.5pp $236	+1.0pp $178

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$2,296
Total (2 units)			$2,295

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $220,000 Active 16 DOM
2. 2026-06-18
   days on market $220,000 Active 14 DOM
3. 2026-06-17
   days on market $220,000 Active 13 DOM
4. 2026-06-16
   days on market $220,000 Active 12 DOM
5. 2026-06-15
   days on market $220,000 Active 11 DOM
6. 2026-06-13
   days on market $220,000 Active 9 DOM
7. 2026-06-12
   days on market $220,000 Active 8 DOM
8. 2026-06-09
   days on market $220,000 Active 5 DOM
9. 2026-06-08
   days on market $220,000 Active 4 DOM
10. 2026-06-07
    days on market $220,000 Active 3 DOM
11. 2026-06-07
    remarks 186-char remark
12. 2026-06-07
    listed $220,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,540
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$6,400
• Taxable income: $10
• Est. tax owed @ 24.0%: −$2
• After-tax cash flow: $3,510/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.

Condition & rehab AI · 9 photos

Fair 55/100 Moderate rehab

This 4-unit property requires moderate renovations to improve its condition and value. Focus on updating the kitchen and landscaping to attract buyers and renters.

Repairs flagged

• Major Kitchen cabinets — Outdated and in poor condition.
• Major Kitchen flooring — Linoleum in poor condition.
• Major Bathroom flooring — Carpet in poor condition.
• Minor Exterior siding — Some discoloration, but no major damage.
• Major Landscaping — Overgrown and in need of trimming.

Value-add opportunities

• Both New kitchen cabinets and flooring — Improves both resale and rental value by modernizing the kitchen.
• Both Landscaping improvements — Enhances curb appeal and can increase property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Outdated and in poor condition.	Major	$15,000–50,000
Kitchen flooring · Linoleum in poor condition.	Major	$15,000–50,000
Bathroom flooring · Carpet in poor condition.	Major	$15,000–50,000
Exterior siding · Some discoloration, but no major damage.	Minor	$500–3,000
Landscaping · Overgrown and in need of trimming.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$60,500–203,000

Value-add ROI direction

• Both New kitchen cabinets and flooring — Improves both resale and rental value by modernizing the kitchen. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: RSU 73
• NCES district ID: 2314805
• Math proficiency: 75% ▲ 50.00%
• Reading proficiency: 81% ▲ 38.00%
• Median HH income: $44,547
• Composite: 65.46/100
• National rank: #477
• State rank: #91 of 112 in ME

Livability — Livermore Falls

• Score: 67/100
• State rank: #95
• US rank: #10818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livermore Falls, ME
• Population (ZIP): 3,076

Population outlook (Androscoggin County) Hauer SSP2

• Today (2025): 103,965 people
• By 2030: 101,004 · -2.8%
• By 2040: 93,218 · -10.3%
• By 2050: 84,222 · -19.0%
• By 2075: 63,391 · -39.0%
• By 2100: 43,273 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 18% German 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 3% Other Indo-European 1%

Political lean MEDSL · Androscoggin

• 2024 margin: Lean R (+6.1) · D 45.9% · R 52.0% · Other 2.1%
• 2008→2024 swing: -21.3pp toward R · 2008: 15.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+2.8 2016: R+9.4 2012: D+12.8 2008: D+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.85%
• Current HPI: 330.6379
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-03 Listed $220,000 MREIS