1 Hammond Dr · Belfast, ME 04915

$99,900

2 bd · 1.0 ba · 728 sqft · MultiFamily public records · 1 Days on market

Built 1988 1.02 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• 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 MLS

1988 Mobile Home 14' x 52' offering open-concept living room & kitchen w/ vaulted ceilings, 2 bedrooms, 1 bath & laundry area. Replacement vinyl windows, newer metal roof, furnace, septic tank & leach field. Privately situated on a 2.55 acre lot close town or Swan Lake!

Key facts

• New metal roof
• New flooring
• Surveyed lot

Tags

• SURVEYED LOT
• REMODELED HOME
• REPLACEMENT WINDOWS
• NEW METAL ROOF
• FORCED AIR FURNACE
• NEW FLOORING

Property features AI

Finance

• Other: Zoning: R

Exterior

• Parking: 1–4 parking spaces (no garage)
• Utilities: Electric service with circuit breakers; Private sewer
• Home design: Mobile home; Other style
• Construction: Above-grade finished area 798; Ceiling fans noted for energy efficiency
• Exterior features: Metal pitched roof; Outbuilding; Views of trees and woods; Approximately 1.02-acre lot; Public water

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom on the first floor with closet; Second bedroom on the first floor with closet
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Direct vent furnace; Forced air heating; Has heating
• Interior features: Eat-in kitchen; Double-pane and low-emissivity windows; Unfurnished; Total of 4 rooms
• Laundry & utility: Utilities on

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $100k.

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 ($3k rent vs $100k).
• Cap rate 25.0% vs local median 2.3% in Belfast — 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 82/100 on livability (#14 in ME, #1,247 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute C-, schools D+, amenities F.
• RSU 71 (town): math 79% / reading 82% proficiency, ranked #85 of 112 in ME (top 76%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 120 active listings in the ZIP; 143 units permitted in Waldo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Waldo County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

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: 2.82% ✓
• Cap rate: 24.99%
• Cash-on-cash: 66.78%
• DSCR: 3.97
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 66.1%
• Equity multiple: 3.97×
• Total profit: $82,982
• Equity at exit: $14,895

10-year hold

• IRR: 70.4%
• Equity multiple: 8.15×
• Total profit: $200,044
• Equity at exit: $8,638

Cash invested: $27,972 (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 04915

• Home prices YoY: -15.1%
• Active inventory: 120
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,821 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$106 /mo · $1,278/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $1,557

Break-even live

Break-even rent $851

Max offer price $99,900

Occupancy floor 40%

Sensitivity live

Price	-10% $1,613	-5% $1,585	+0% $1,557	+5% $1,528	+10% $1,500
Rent	-10% $1,334	-5% $1,445	+0% $1,557	+5% $1,668	+10% $1,779
Rate	-1.0pp $1,607	-0.5pp $1,582	base $1,557	+0.5pp $1,531	+1.0pp $1,504

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,820
Total (2 units)			$2,821

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-07
   status Pending 972-char remark
2. 2026-05-07
   listed $99,900 Active 972-char remark
3. 2020-10-30
   soldstatus $66,000 Closed 288-char remark

   Show marketing remark (288 chars)

   1988 Mobile Home 14' x 52' offering open-concept living room & kitchen w/ vaulted ceilings, 2 bedrooms, 1 bath & laundry area. Replacement vinyl windows, newer metal roof, furnace, septic tank & leach field. Privately situated on a 2.55 acre lot close town or Swan Lake!

4. 2020-09-21
   status Pending 288-char remark

   Show marketing remark (288 chars)

   1988 Mobile Home 14' x 52' offering open-concept living room & kitchen w/ vaulted ceilings, 2 bedrooms, 1 bath & laundry area. Replacement vinyl windows, newer metal roof, furnace, septic tank & leach field. Privately situated on a 2.55 acre lot close town or Swan Lake!

5. 2020-08-25
   listed $70,000 Active 288-char remark

   Show marketing remark (288 chars)

   1988 Mobile Home 14' x 52' offering open-concept living room & kitchen w/ vaulted ceilings, 2 bedrooms, 1 bath & laundry area. Replacement vinyl windows, newer metal roof, furnace, septic tank & leach field. Privately situated on a 2.55 acre lot close town or Swan Lake!

ⓘ 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: $1,278 · $106/mo
• Projected year-2 tax: $1,318 · $110/mo
• Expected delta: +$40/yr (+$3/mo · 3.2%)

ⓘ 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 ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $33,852
• − Mortgage interest: −$5,596
• − Property taxes: −$1,278
• − Insurance: −$500
• − Repairs & maintenance: −$2,708
• − Management: −$2,708
• − Depreciation: −$2,906
• Taxable income: $18,156
• Est. tax owed @ 24.0%: −$4,357
• After-tax cash flow: $14,321/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 71
• NCES district ID: 2314822
• Math proficiency: 79% ▲ 55.00%
• Reading proficiency: 82% ▲ 34.00%
• Median HH income: $43,774
• Composite: 67.47/100
• National rank: #374
• State rank: #85 of 112 in ME

Livability — Belfast

• Score: 82/100
• State rank: #14
• US rank: #1247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belfast, ME
• City population: 9,030
• Population (ZIP): 9,030

Population outlook (Waldo County) Hauer SSP2

• Today (2025): 39,611 people
• By 2030: 39,475 · -0.3%
• By 2040: 38,245 · -3.4%
• By 2050: 36,078 · -8.9%
• By 2075: 29,774 · -24.8%
• By 2100: 22,172 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Lithuanian 8% Slovak 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Chinese 1%

Political lean MEDSL · Waldo

• 2024 margin: Toss-up / Even · D 50.4% · R 47.0% · Other 2.6%
• 2008→2024 swing: -8.3pp toward R · 2008: 11.6pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+4.7 2016: D+0.3 2012: D+10.7 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.00%
• Current HPI: 258.9162
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+35.7% since first listed

6 events — show timeline

• 2026-05-29 Sold (MLS) $95,000 MREIS
• 2026-05-07 Pending — MREIS
• 2026-05-07 Listed $99,900 MREIS
• 2020-10-30 Sold (MLS) $66,000 MREIS
• 2020-09-21 Pending — MREIS
• 2020-08-25 Listed $70,000 MREIS

Property tax history

+4.6%/yr

Latest (2025): $1,278 · -13.7% YoY. Source: county tax records.