35 Fort Hill Ave · Old Orchard Beach, ME 04064

$450,000

5 bd · 2.0 ba · 1,368 sqft · MultiFamily public records · 4 Days on market

Built 2004 10,454 sqft lot $329/sqft · 20% above area Est $594k · 24% under ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• Schools +6.7/10.0
• DSCR +4.5/10.0
• Rent growth +3.7/5.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Coastal living meets flexibility at 35 Fort Hill Ave. Ideally located on a tucked-away street just minutes from the heart of Old Orchard Beach, this multi-unit property offers a unique opportunity to enjoy the Maine lifestyle while maximizing its potential. The property features two separate living spaces, including a generously sized 3-bedroom unit and an additional 1-bedroom unit with bonus space--perfect for extended guests, rental income, or creating a setup that suits your needs. Whether you're envisioning summer getaways, year-round living, or a smart income-producing property, the layout offers options. Spend your days at the beach, stroll to nearby shops and restaurants, and return

Key facts

• 1-bedroom unit
• Bonus space
• Multi-unit property

Tags

• MULTI-UNIT PROPERTY
• TWO SEPARATE LIVING SPACES
• 1-BEDROOM UNIT
• BONUS SPACE

Property features AI

Exterior

• Parking: 1–4 off-street parking spaces; No garage
• Utilities: Public sewer; Electric with circuit breakers
• Home design: Ranch-style property; Above-grade finished area 1,368; Below-grade finished area 792
• Construction: Building total area 2,160
• Exterior features: Shingle roof; Shed(s) on the property; Public water

Interior

• Bedrooms: Property contains 2 total units
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heat; Heat pump for heating and cooling
• Interior features: Vinyl and wood flooring; Exterior and interior basement entries

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $384k (14.6% below list).
• Recommended offer: $384k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.1% in Old Orchard Beach — 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 68/100 on livability (#88 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools D, amenities F, commute F.
• RSU 23 (suburban): math 78% / reading 80% proficiency, ranked #87 of 112 in ME (top 78%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+4.9%/yr); 171 active listings in the ZIP; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $3,841/mo this rent would consume 77% of the median local household income ($60k/yr) (locally 441% 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 68% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $384,100 (14.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.85% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 9.8

CMA / ARV

• ARV (median comp): $594,019
• List price: $450,000
• Delta: -24.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Hampton Ave	0.61mi	4/2.0 (-1)	1,440 (+5%)	10mo	$635,000	$441	49

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 · 4.93% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-57,871
• Equity at exit: $67,096

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-8,522
• Equity at exit: $38,908

Cash invested: $126,000 (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 04064

• Home prices YoY: -11.6%
• Rents YoY: 4.9%
• Active inventory: 171
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $3,841 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$369 /mo · $4,430/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$807
• Net cashflow: $118

Break-even live

Break-even rent $3,692

Max offer price $450,000

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,154
1× unit	1	1	$1,687
Total (2 units)			$3,841

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-05
   status Pending 961-char remark
2. 2026-05-01
   listed $450,000 Active 961-char remark

ⓘ 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: $4,430 · $369/mo
• Projected year-2 tax: $5,275 · $440/mo
• Expected delta: +$845/yr (+$70/mo · 19.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $46,092
• − Mortgage interest: −$25,207
• − Property taxes: −$4,430
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,687
• − Management: −$3,687
• − Depreciation: −$13,091
• Taxable loss: −$6,261
• Est. tax savings @ 24.0%: +$1,503
• After-tax cash flow: $2,917/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 23
• NCES district ID: 2314784
• Math proficiency: 78% ▲ 51.00%
• Reading proficiency: 80% ▲ 27.00%
• Median HH income: $49,630
• Composite: 66.79/100
• National rank: #406
• State rank: #87 of 112 in ME

Livability — Old Orchard Beach

• Score: 68/100
• State rank: #88
• US rank: #9943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Old Orchard Beach, ME
• County: York County · 80,026 people
• City population: 8,632
• Metro: Portland-South Portland, ME
• Population (ZIP): 8,632
• Household income: $59,887
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 441.0

Population outlook (York County) Hauer SSP2

• Today (2025): 209,961 people
• By 2030: 212,816 · +1.4%
• By 2040: 214,360 · +2.1%
• By 2050: 210,350 · +0.2%
• By 2075: 201,686 · -3.9%
• By 2100: 183,392 · -12.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 1% Native American 1%
• Common ancestry: Lithuanian 9% Slovak 7% Romanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · French/Haitian/Cajun 6% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · York

• 2024 margin: D (+10.5) · D 54.3% · R 43.8% · Other 1.9%
• 2008→2024 swing: -10.1pp toward R · 2008: 20.5pp · 2024: 10.5pp
• All cycles: 2024: D+10.5 2020: D+12.6 2016: D+4.8 2012: D+16.4 2008: D+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.32%
• Current HPI: 489.543
• Rent YoY: ▲ 4.93%
• Metro: Portland-South Portland, ME
• State GDP YoY: —
• F500 in state: 0

Price history

-7.4% since first listed

5 events — show timeline

• 2026-06-12 Sold (MLS) $440,000 MREIS
• 2026-05-05 Pending — MREIS
• 2026-05-01 Listed $450,000 MREIS
• 2026-04-03 Delisted — MREIS
• 2026-03-05 Listed $475,000 MREIS

Property tax history

+4.4%/yr

Latest (2024): $4,430 · +11.2% YoY. Source: county tax records.