118 Halifax St · Winslow, ME 04901

$235,000

4 bd · 2.0 ba · 1,632 sqft · MultiFamily public records · 93 Days on market

Built 1945 5,227 sqft lot Est $279k · 16% under

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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 +28.6/30.0
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Schools +7.1/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This charming in-town 2 unit apartment building that has had many updates including the roof in 2016. Each unit has two bedrooms and a cozy porch to enjoy. Great investment opportunity. Building is currently vacant rent was previously $700 and included water and heat.

Key facts

• Furnace replaced
• Newer roof
• Enclosed porch

Tags

• ENCLOSED PORCH
• BASEMENT WITH STORAGE
• LAUNDRY HOOKUPS
• NEWER ROOF
• FURNACE REPLACED

Property features AI

Finance

• Financial info: Gross annual income reported: $15,600; Operating expenses reported: $9,865; Unit 1 actual rent: $1,300

Exterior

• Parking: On-site paved parking with 1–4 spaces
• Utilities: Public water; Public sewer; Circuit breaker electric; Water heater tied to heating system
• Home design: Two-story multi-unit building; Mixed-use zoning (MU); Entry levels: first and second floor units
• Construction: Built in 1945; Vinyl siding, asbestos, and wood frame construction; Shingle roof; Concrete perimeter foundation
• Exterior features: Porch; Open, level lot near town; Paved road access

Interior

• Kitchen: Refrigerator in each unit
• Bedrooms: Two 2-bedroom units (one on the first level, one on the second level)
• Flooring: Vinyl flooring; Laminate flooring
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Hot water baseboard heating; Zoned heating
• Interior features: Unfurnished; Double-pane windows
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive. Per door: $389/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $214k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.5% in Winslow — 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 83/100 on livability (#10 in ME, #937 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment D+.
• Winslow Schools (town): math 81% / reading 87% proficiency, ranked #61 of 112 in ME (top 54%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+6.3%/yr); 42 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).
• At $2,914/mo this rent would consume 61% of the median local household income ($57k/yr) (locally 1102% 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.
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $66k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $235k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.24% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.18%
• DSCR: 1.63
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $279,072
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Poulin St	0.19mi	4/2.0	1,576 (-3%)	6mo	$270,000	$171	81
3 Baker St	0.38mi	3/2.0 (-1)	1,536 (-6%)	8mo	$331,500	$216	61
1 Kidder St	0.36mi	4/2.0	1,728 (+6%)	19mo	$128,000	$74	57

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 · 6.3% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.33×
• Total profit: $21,403
• Equity at exit: $35,039

10-year hold

• IRR: 19.8%
• Equity multiple: 2.92×
• Total profit: $126,211
• Equity at exit: $20,319

Cash invested: $65,800 (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 04901

• Home prices YoY: -9.3%
• Rents YoY: 6.3%
• Active inventory: 42
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,914 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$194 /mo · $2,334/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $777

Break-even live

Break-even rent $1,930

Max offer price $235,000

Occupancy floor 68%

Sensitivity live

Price	-10% $910	-5% $844	+0% $777	+5% $711	+10% $644
Rent	-10% $547	-5% $662	+0% $777	+5% $892	+10% $1,007
Rate	-1.0pp $896	-0.5pp $837	base $777	+0.5pp $716	+1.0pp $654

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,914
Total (2 units)			$2,914

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-09
   days on market $235,000 Active 93 DOM
2. 2026-06-08
   days on market $235,000 Active 92 DOM
3. 2026-06-07
   days on market $235,000 Active 91 DOM
4. 2026-06-05
   days on market $235,000 Active 88 DOM
5. 2026-06-02
   days on market $235,000 Active 86 DOM
6. 2026-06-01
   days on market $235,000 Active 85 DOM
7. 2026-05-31
   days on market $235,000 Active 84 DOM
8. 2026-05-30
   days on market $235,000 Active 83 DOM
9. 2026-04-15
   price $235,000
10. 2026-03-09
    listed $259,900 Active
11. 2018-07-09
    soldstatus $85,000 Sold 268-char remark

    Show marketing remark (268 chars)

    This charming in-town 2 unit apartment building that has had many updates including the roof in 2016. Each unit has two bedrooms and a cozy porch to enjoy. Great investment opportunity. Building is currently vacant rent was previously $700 and included water and heat.

12. 2018-07-02
    status Pending 268-char remark

    Show marketing remark (268 chars)

    This charming in-town 2 unit apartment building that has had many updates including the roof in 2016. Each unit has two bedrooms and a cozy porch to enjoy. Great investment opportunity. Building is currently vacant rent was previously $700 and included water and heat.

13. 2018-06-18
    status Active 268-char remark

    Show marketing remark (268 chars)

    This charming in-town 2 unit apartment building that has had many updates including the roof in 2016. Each unit has two bedrooms and a cozy porch to enjoy. Great investment opportunity. Building is currently vacant rent was previously $700 and included water and heat.

14. 2018-04-23
    status Pending 268-char remark

    Show marketing remark (268 chars)

    This charming in-town 2 unit apartment building that has had many updates including the roof in 2016. Each unit has two bedrooms and a cozy porch to enjoy. Great investment opportunity. Building is currently vacant rent was previously $700 and included water and heat.

15. 2018-02-16
    listed $89,888 Active 268-char remark

    Show marketing remark (268 chars)

    This charming in-town 2 unit apartment building that has had many updates including the roof in 2016. Each unit has two bedrooms and a cozy porch to enjoy. Great investment opportunity. Building is currently vacant rent was previously $700 and included water and heat.

ⓘ 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: $2,334 · $194/mo
• Projected year-2 tax: $2,765 · $230/mo
• Expected delta: +$431/yr (+$36/mo · 18.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $34,968
• − Mortgage interest: −$13,164
• − Property taxes: −$2,334
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,797
• − Management: −$2,797
• − Depreciation: −$6,836
• Taxable income: $5,864
• Est. tax owed @ 24.0%: −$1,407
• After-tax cash flow: $7,920/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: Winslow Schools
• NCES district ID: 2313860
• Math proficiency: 81% ▲ 52.00%
• Reading proficiency: 87% ▲ 28.00%
• Median HH income: $46,883
• Composite: 70.66/100
• National rank: #254
• State rank: #61 of 112 in ME

Livability — Winslow

• Score: 83/100
• State rank: #10
• US rank: #937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winslow, ME
• County: Kennebec County · 54,560 people
• City population: 27,870
• Metro: Augusta-Waterville, ME
• Population (ZIP): 27,870
• Household income: $57,403
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1102.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 19% Slovak 4% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · French/Haitian/Cajun 2% Spanish 1% Chinese 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: ▼ -36.04%
• Current HPI: 351.0657
• Rent YoY: ▲ 6.30%
• Metro: Augusta-Waterville, ME
• State GDP YoY: —
• F500 in state: 0

Price history

+161.4% since first listed

7 events — show timeline

• 2026-04-15 Price Changed $235,000 MREIS
• 2026-03-09 Listed $259,900 MREIS
• 2018-07-09 Sold (MLS) $85,000 MREIS
• 2018-07-02 Pending — MREIS
• 2018-06-18 Relisted — MREIS
• 2018-04-23 Pending — MREIS
• 2018-02-16 Listed $89,888 MREIS

Property tax history

+6.0%/yr

Latest (2024): $2,334 · +0.0% YoY. Source: county tax records.