15 Hillcrest Ave · Caribou, ME 04736

$79,900

4 bd · 2.0 ba · 1,170 sqft · MultiFamily public records · 147 Days on market

Built 1947 Fair condition 0.29 ac lot $68/sqft · 39% below area Est $132k · 39% 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 +25.3/30.0
• ARV discount +15.0/15.0
• Schools +8.7/10.0
• DSCR +8.3/10.0
• 1% rule +7.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Two (2) bedroom units, live in one and rent the other to pay the mortgage or simply has as two rents.

Key facts

• 0.29 acre lot
• Parking
• Built 1947

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.4% in Caribou — 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 74/100 on livability (#46 in ME, #4,849 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• RSU 39 (town): math 82% / reading 83% proficiency, ranked #79 of 112 in ME (top 70%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Caribou Community School (math 81% / reading 83%, grade A+, #155 of 294 statewide, top 59%, 750 students, 49% FRL); Caribou High School (math 92% / reading 92%, grade A+, #27 of 108 statewide, top 36%, 470 students, 51% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 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

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.22% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.76%
• DSCR: 1.43
• GRM: 6.8

CMA / ARV

• ARV (median comp): $131,866
• List price: $79,900
• Delta: -39.41%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Midland St	0.05mi	3/1.5 (-1)	1,240 (+6%)	1mo	$130,000	$105	80
9 Hancock St	0.14mi	3/1.0 (-1)	1,120 (-4%)	1mo	$107,500	$96	76
18 Park St	0.44mi	3/1.5 (-1)	1,176 (+0%)	6mo	$168,000	$143	67
10 Laurette Cir	0.26mi	4/1.0	1,248 (+7%)	10mo	$178,400	$143	65
24 Westwind Dr	0.45mi	4/1.5	1,309 (+12%)	1mo	$195,000	$149	57
33 Elmwood Ave	0.34mi	3/1.0 (-1)	1,272 (+9%)	6mo	$174,900	$138	55
11 Violette St	0.58mi	3/1.0 (-1)	1,196 (+2%)	10mo	$206,000	$172	52
44 Garden Cir	0.40mi	3/1.0 (-1)	1,296 (+11%)	6mo	$185,000	$143	50
24 Violette St	0.58mi	3/1.0 (-1)	1,311 (+12%)	2mo	$230,000	$175	42
33 Vaughn St	0.75mi	3/1.5 (-1)	1,065 (-9%)	1mo	$185,000	$174	42
10 Coolidge Ave	0.97mi	3/2.0 (-1)	1,318 (+13%)	10mo	$205,000	$156	31
37 Spring St	1.20mi	3/1.0 (-1)	1,381 (+18%)	5mo	$130,000	$94	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,316
• Equity at exit: $11,913

10-year hold

• IRR: 8.2%
• Equity multiple: 1.62×
• Total profit: $13,933
• Equity at exit: $6,908

Cash invested: $22,372 (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 04736

• Home prices YoY: -18.6%
• Active inventory: 134
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $182

Break-even live

Break-even rent $745

Max offer price $79,900

Occupancy floor 76%

Sensitivity live

Price	-10% $227	-5% $205	+0% $182	+5% $159	+10% $137
Rent	-10% $105	-5% $144	+0% $182	+5% $221	+10% $259
Rate	-1.0pp $222	-0.5pp $202	base $182	+0.5pp $161	+1.0pp $140

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: $19,975
• Closing costs: $2,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
66 Washburn St Unit 2 Caribou, ME	1.0	1.0	370	$800	$2.16	0d	1	1.04mi
515 Main St Apt 6 Caribou, ME	3.0	1.0	910	$975	$1.07	0d	1	1.30mi

Listing history 50 events

1. 2026-09-24
   days on market $79,900 Active 147 DOM
2. 2026-09-23
   days on market $79,900 Active 146 DOM
3. 2026-09-20
   days on market $79,900 Active 143 DOM
4. 2026-09-19
   days on market $79,900 Active 142 DOM
5. 2026-09-19
   days on market $79,900 Active 141 DOM
6. 2026-09-17
   days on market $79,900 Active 140 DOM
7. 2026-09-17
   days on market $79,900 Active 139 DOM
8. 2026-09-16
   days on market $79,900 Active 138 DOM
9. 2026-09-14
   days on market $79,900 Active 137 DOM
10. 2026-09-13
    days on market $79,900 Active 136 DOM
11. 2026-09-12
    days on market $79,900 Active 135 DOM
12. 2026-09-11
    days on market $79,900 Active 134 DOM
13. 2026-09-05
    days on market $79,900 Active 128 DOM
14. 2026-09-04
    days on market $79,900 Active 127 DOM
15. 2026-09-03
    days on market $79,900 Active 126 DOM
16. 2026-09-02
    days on market $79,900 Active 125 DOM
17. 2026-08-29
    days on market $79,900 Active 121 DOM
18. 2026-08-28
    days on market $79,900 Active 120 DOM
19. 2026-08-27
    days on market $79,900 Active 119 DOM
20. 2026-08-25
    days on market $79,900 Active 117 DOM
21. 2026-08-24
    days on market $79,900 Active 116 DOM
22. 2026-08-23
    days on market $79,900 Active 115 DOM
23. 2026-08-22
    days on market $79,900 Active 114 DOM
24. 2026-08-21
    days on market $79,900 Active 113 DOM
25. 2026-08-20
    days on market $79,900 Active 112 DOM
26. 2026-08-19
    days on market $79,900 Active 111 DOM
27. 2026-08-18
    days on market $79,900 Active 110 DOM
28. 2026-08-17
    days on market $79,900 Active 109 DOM
29. 2026-08-16
    days on market $79,900 Active 108 DOM
30. 2026-08-15
    days on market $79,900 Active 107 DOM
31. 2026-08-15
    days on market $79,900 Active 106 DOM
32. 2026-08-13
    days on market $79,900 Active 105 DOM
33. 2026-08-12
    days on market $79,900 Active 104 DOM
34. 2026-08-11
    days on market $79,900 Active 103 DOM
35. 2026-08-10
    days on market $79,900 Active 102 DOM
36. 2026-08-09
    days on market $79,900 Active 101 DOM
37. 2026-08-08
    days on market $79,900 Active 100 DOM
38. 2026-08-07
    days on market $79,900 Active 99 DOM
39. 2026-08-06
    days on market $79,900 Active 98 DOM
40. 2026-08-05
    days on market $79,900 Active 97 DOM
41. 2026-08-04
    days on market $79,900 Active 96 DOM
42. 2026-08-03
    days on market $79,900 Active 95 DOM
43. 2026-07-31
    days on market $79,900 Active 92 DOM
44. 2026-07-30
    days on market $79,900 Active 91 DOM
45. 2026-07-29
    days on market $79,900 Active 90 DOM
46. 2026-07-27
    days on market $79,900 Active 88 DOM
47. 2026-07-25
    days on market $79,900 Active 86 DOM
48. 2026-07-24
    days on market $79,900 Active 85 DOM
49. 2026-07-23
    days on market $79,900 Active 84 DOM
50. 2026-07-22
    days on market $79,900 Active 83 DOM

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $1,631 · $136/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 1/10 Low 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $11,700
• − Mortgage interest: −$4,476
• − Property taxes: −$1,631
• − Insurance: −$400
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,324
• Taxable income: $997
• Est. tax owed @ 24.0%: −$239
• After-tax cash flow: $1,945/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 · 3 photos

Fair 45/100 Moderate rehab Est. rehab $29,250–$52,650 screening

This property requires significant repairs to the roof and exterior siding, with potential for substantial value increase through these improvements.

Deferred maintenance Est. $40,000–$120,000 screening

• Major Roof (roof) — The roof appears to be in poor condition with visible damage and missing shingles.
• Major Windows (windows) — The windows have a worn appearance and may need replacement.
• Major Electrical (electrical) — The electrical panel appears to be old and may need an upgrade or replacement.
• Major Plumbing (plumbing) — The exterior of the house shows signs of water damage, indicating potential plumbing issues.

Repairs flagged

• Major roof — Significant wear and tear visible
• Major exterior siding — Weathered and peeling
• Major interior walls/paint — No photos available

Value-add opportunities

• Both repair roof — Critical to safety and appearance ↑
• Both repair exterior siding — Improves curb appeal and structural integrity ↑
• Both paint interior walls — Enhances interior aesthetics and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

A Composite school gradezoned avg 87/100

Zoned Schools

Elementary Caribou Community School A+ ME #155/294 Nat'l #849/41,679 High Caribou High School A+ ME #27/108 Nat'l #281/17,239

Schools (NCES district)

• District: RSU 39
• NCES district ID: 2314794
• Math proficiency: 82% ▲ 55.00%
• Reading proficiency: 83% ▲ 39.00%
• Median HH income: $38,159
• Composite: 68.6/100
• National rank: #341
• State rank: #79 of 112 in ME

B Composite livability gradescore 74/100

Livability — Caribou

• Score: 74/100
• State rank: #46
• US rank: #4849

Category grades

Amenities F Commute F 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: Caribou, ME
• County: Aroostook · 61,905 people
• City population: 9,107
• Population (ZIP): 9,107
• Household income: $56,189
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 8% of renters

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Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5%
• Common ancestry: Lithuanian 28% Slovak 3% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 7%

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Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.06%
• Current HPI: 219.5142
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-97.8% since first listed

5 events — show timeline

• 2026-03-23 Pending — MREIS
• 2026-03-04 Relisted — MREIS
• 2026-02-19 Pending — MREIS
• 2026-01-27 Listed $79,900 MREIS
• 2024-03-14 Price Changed $3,650,000 MREIS

Property tax history

+2.7%/yr

Latest (2024): $1,631 · +9.8% YoY. Source: county tax records.