535 Enfield Rd · Lincoln, ME 04457

$115,000

3 bd · 2.0 ba · 1,284 sqft · Other · 92 Days on market

Built 1940 0.76 ac lot $90/sqft · 31% below area Est $168k · 31% 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• Schools +6.8/10.0
• 1% rule +6.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD home - 3 bedroom, 2 bath farmhouse sits on . 76 acres with a 2 car attached garage.

Key facts

• 0.76 acre lot
• 2 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.5% in Lincoln — 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 72/100 on livability (#56 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools F, amenities F, commute F.
• RSU 67 (rural): math 79% / reading 85% proficiency, ranked #83 of 112 in ME (top 74%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 69 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $105k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $115k implies a 281% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

• ARV (median comp): $167,685
• List price: $115,000
• Delta: -31.42%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-5,719
• Equity at exit: $17,147

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $11,761
• Equity at exit: $9,943

Cash invested: $32,200 (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 04457

• Home prices YoY: -7.1%
• Active inventory: 69
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,303 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$176 /mo · $2,112/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $202

Break-even live

Break-even rent $1,047

Max offer price $115,000

Occupancy floor 79%

Sensitivity live

Price	-10% $267	-5% $235	+0% $202	+5% $170	+10% $137
Rent	-10% $99	-5% $151	+0% $202	+5% $254	+10% $305
Rate	-1.0pp $260	-0.5pp $231	base $202	+0.5pp $172	+1.0pp $142

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $115,000 Active 92 DOM
2. 2026-06-17
   days on market $115,000 Active 91 DOM
3. 2026-06-16
   days on market $115,000 Active 90 DOM
4. 2026-06-15
   days on market $115,000 Active 89 DOM
5. 2026-06-13
   days on market $115,000 Active 87 DOM
6. 2026-06-12
   days on market $115,000 Active 86 DOM
7. 2026-06-09
   days on market $115,000 Active 83 DOM
8. 2026-06-08
   days on market $115,000 Active 82 DOM
9. 2026-06-07
   days on market $115,000 Active 81 DOM
10. 2026-06-07
    days on market $115,000 Active 80 DOM
11. 2026-06-04
    days on market $115,000 Active 77 DOM
12. 2026-06-02
    days on market $115,000 Active 76 DOM
13. 2026-06-01
    days on market $115,000 Active 75 DOM
14. 2026-05-31
    days on market $115,000 Active 74 DOM
15. 2026-05-31
    days on market $115,000 Active 73 DOM
16. 2026-05-08
    price $150,000 87-char remark

    Show marketing remark (87 chars)

    HUD home - 3 bedroom, 2 bath farmhouse sits on . 76 acres with a 2 car attached garage.

17. 2026-04-17
    price $175,000 87-char remark

    Show marketing remark (87 chars)

    HUD home - 3 bedroom, 2 bath farmhouse sits on . 76 acres with a 2 car attached garage.

18. 2026-03-18
    listed $220,000 Active 87-char remark

    Show marketing remark (87 chars)

    HUD home - 3 bedroom, 2 bath farmhouse sits on . 76 acres with a 2 car attached garage.

19. 2022-09-09
    soldstatus $30,185
20. 2022-08-26
    soldstatus $100,000 Closed 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

21. 2022-07-10
    historical Active Under Contract 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

22. 2022-07-02
    status Active 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

23. 2022-06-14
    historical Active Under Contract 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

24. 2022-06-12
    status Active 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

25. 2022-06-02
    status Pending 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

26. 2022-05-27
    listed $115,000 Active 2001-char remark

    Show marketing remark (2001 chars)

    Historic farmhouse for sale in Lincoln, Maine. Enjoy the charm of a classic Maine farmhouse, while benefiting from the updates of present day. This three bedroom, two bath 1940's farmhouse has had many updates in the past 5 years while still maintaining the charm of a historic New England home. The home sits on a 0.76± acres with a 2-car attached garage, many perennial plants, fenced in yard and large garden. The first floor of the home features a large breezeway with new windows and doors that attaches the home to the two-car garage. The mud room/breezeway grants access to the fenced-in backyard with new deck. Stepping into the large eat-in kitchen you will notice the beautiful, exposed beam ceiling, custom cabinets, wide plank pine floors and an abundance of natural light. The formal dining room was used by the current owners as a music room, and the floor has been reinforced to accommodate the piano which will stay with the home. Off the dining/music room is the first-floor bathroom which was also renovated in the last 5 years and includes new shower, toilet, sink and laminate floors. The 13x10 living room rounds out the first floor with new laminate floors and is a cozy space to spend time relaxing with family. The second floor of the home is accessed by two separate sets of stairs, one in the kitchen which leads to a landing for access into a small 8.25x9 bedroom, most recently used as a nursery but would make a great office space or walk-in closet, as well as the primary bedroom which is 11.75x9.5. These two bedrooms have had new windows installed in the last two years. The second set of stairs are located in the living room and they lead to the third 10.5x8 bedroom and the upstairs laundry/bathroom. The upstairs bath was completely renovated in 2021 and has a stand-up shower with glass door, new washer & dryer and added storage. Some of the other updates that have been done include a new drilled well in August 2021 and a new electric water heater.

27. 2011-02-18
    soldstatus $30,500
28. 2010-11-17
    listed $32,500

ⓘ 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: $2,112 · $176/mo
• Projected year-2 tax: $2,112 · $176/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 24% 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: $15,633
• − Mortgage interest: −$6,442
• − Property taxes: −$2,112
• − Insurance: −$575
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$3,345
• Taxable income: $657
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $2,268/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 67
• NCES district ID: 2314777
• Math proficiency: 79% ▲ 50.00%
• Reading proficiency: 85% ▲ 38.00%
• Median HH income: $36,167
• Composite: 67.98/100
• National rank: #357
• State rank: #83 of 112 in ME

Livability — Lincoln

• Score: 72/100
• State rank: #56
• US rank: #5896

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,755

Population outlook (Penobscot County) Hauer SSP2

• Today (2025): 149,928 people
• By 2030: 146,386 · -2.4%
• By 2040: 135,952 · -9.3%
• By 2050: 123,864 · -17.4%
• By 2075: 97,825 · -34.8%
• By 2100: 77,196 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 12% Russian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Penobscot

• 2024 margin: R (+10.9) · D 43.6% · R 54.5% · Other 1.9%
• 2008→2024 swing: -15.9pp toward R · 2008: 5.0pp · 2024: -10.9pp
• All cycles: 2024: R+10.9 2020: R+8.3 2016: R+10.9 2012: D+2.9 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.76%
• Current HPI: 257.4607
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+361.5% since first listed

13 events — show timeline

• 2026-05-08 Price Changed $150,000 MREIS
• 2026-04-17 Price Changed $175,000 MREIS
• 2026-03-18 Listed $220,000 MREIS
• 2022-09-09 Sold (Public Records) $30,185 Public Records
• 2022-08-26 Sold (MLS) $100,000 MREIS
• 2022-07-10 Contingent — MREIS
• 2022-07-02 Relisted — MREIS
• 2022-06-14 Contingent — MREIS
• 2022-06-12 Relisted — MREIS
• 2022-06-02 Pending — MREIS
• 2022-05-27 Listed $115,000 MREIS
• 2011-02-18 Sold (MLS) $30,500 MREIS
• 2010-11-17 Listed $32,500 MREIS

Property tax history

+5.0%/yr

Latest (2025): $2,112 · +10.0% YoY. Source: county tax records.