131 Commercial St · Hartland, ME 04943

$190,000

3 bd · 1.0 ba · 1,258 sqft · MultiFamily · 17 Days on market

Built 1930 0.46 ac lot $151/sqft · 52% above area

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

3 bedroom home will possibility for one more, newer furnace and insulation, metal roof, newer heat pump, nice back yard, hardwood floors, attached shed, lot of home for the money

Key facts

• Covered porch
• Large lawn
• Attached barn

Tags

• LARGE LAWN
• ATTACHED BARN
• COVERED PORCH

Property features AI

Finance

• HOA & community: No pet restrictions

Exterior

• Parking: Gravel off-street parking with 1–4 spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Water heater tied to heating system
• Home design: Single family residence; Multi-level home; Built in 1930; Insulated foundation; Dehumidifier and programmable thermostat present
• Construction: Wood frame construction with vinyl siding; Granite foundation; Metal roof
• Exterior features: Porch; Intown lot; Level lot; Paved road access

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: Three bedrooms (two located on the second level; one on the second level listed as Bedroom 1 and one as Bedroom 2; third bedroom on second level as Bedroom 3)
• Flooring: Tile; Vinyl; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Heat pump for heating and cooling; Has heating and cooling
• Interior features: Shower; Storage; Unfurnished; Seven total rooms
• Laundry & utility: Washer hookup on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 5.9% in Hartland — 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 61/100 on livability (#120 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 27 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.7% local appreciation)).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $48k; list at $190k implies a 296% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,150 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.87% ✓
• Cap rate: 16.45%
• Cash-on-cash: 36.28%
• DSCR: 2.61
• GRM: 4.5

CMA / ARV

• ARV (median comp): $124,711
• List price: $190,000
• Delta: 52.35%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.4%
• Equity multiple: 4.11×
• Total profit: $165,414
• Equity at exit: $128,106

10-year hold

• IRR: 43.8%
• Equity multiple: 8.60×
• Total profit: $404,516
• Equity at exit: $240,188

Cash invested: $53,200 (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 04943

• Home prices YoY: 3.0%
• Active inventory: 27
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,544 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$116 /mo · $1,391/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $1,608

Break-even live

Break-even rent $1,508

Max offer price $190,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,543
Total (3 units)			$3,544

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-08
   listed $199,000 Active 1327-char remark
2. 2020-06-10
   soldstatus $48,000 Closed 178-char remark

   Show marketing remark (178 chars)

   3 bedroom home will possibility for one more, newer furnace and insulation, metal roof, newer heat pump, nice back yard, hardwood floors, attached shed, lot of home for the money

3. 2020-05-20
   status Pending - Continue to Show 178-char remark

   Show marketing remark (178 chars)

   3 bedroom home will possibility for one more, newer furnace and insulation, metal roof, newer heat pump, nice back yard, hardwood floors, attached shed, lot of home for the money

4. 2020-03-08
   price $54,900 178-char remark

   Show marketing remark (178 chars)

   3 bedroom home will possibility for one more, newer furnace and insulation, metal roof, newer heat pump, nice back yard, hardwood floors, attached shed, lot of home for the money

5. 2020-01-31
   listed $59,900 Active 178-char remark

   Show marketing remark (178 chars)

   3 bedroom home will possibility for one more, newer furnace and insulation, metal roof, newer heat pump, nice back yard, hardwood floors, attached shed, lot of home for the money

ⓘ 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: $1,391 · $116/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$596/yr (+$50/mo · 42.9%)

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

Taxation est. · year 1

• Rental income: $42,528
• − Mortgage interest: −$10,643
• − Property taxes: −$1,391
• − Insurance: −$950
• − Repairs & maintenance: −$3,402
• − Management: −$3,402
• − Depreciation: −$5,527
• Taxable income: $17,212
• Est. tax owed @ 24.0%: −$4,131
• After-tax cash flow: $15,169/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Hartland

• Score: 61/100
• State rank: #120
• US rank: #18210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartland, ME
• Population (ZIP): 1,681

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 48,335 people
• By 2030: 46,268 · -4.3%
• By 2040: 41,276 · -14.6%
• By 2050: 36,137 · -25.2%
• By 2075: 26,408 · -45.4%
• By 2100: 18,836 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 8% Portuguese 7% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Somerset

• 2024 margin: Strong R (+27.1) · D 35.6% · R 62.7% · Other 1.7%
• 2008→2024 swing: -32.8pp toward R · 2008: 5.7pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+23.4 2016: R+22.8 2012: D+1.7 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.71%
• Current HPI: 230.2114
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+217.2% since first listed

7 events — show timeline

• 2026-05-25 Pending — MREIS
• 2026-05-21 Price Changed $190,000 MREIS
• 2026-05-08 Listed $199,000 MREIS
• 2020-06-10 Sold (MLS) $48,000 MREIS
• 2020-05-20 Pending — MREIS
• 2020-03-08 Price Changed $54,900 MREIS
• 2020-01-31 Listed $59,900 MREIS

Property tax history

+1.8%/yr

Latest (2025): $1,391 · +7.2% YoY. Source: county tax records.