24 Harvard St · Sebago, ME 04029

$150,000

2 bd · 1.5 ba · 848 sqft · Other · 2 Days on market

Built 1968 7,405 sqft lot ↓ 14% since listing

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Why this score? — see what drove the D+ 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 +18.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on a quiet dead-end road with no through traffic, this well-maintained home offers the perfect blend of privacy, comfort, and access to one of Maine's most sought-after lakes--complete with ROW access to Long Beach on Sebago Lake. Designed for both relaxation and entertaining, the property features a spacious deck ideal for summer gatherings, morning coffee, or unwinding after a day at the beach. Inside, enjoy peace of mind with numerous recent updates, including a new metal roof, furnace, hot water heater, and beautifully remodeled bathrooms. Whether you're searching for a seasonal retreat or a year-round residence, this home provides a true escape from the hustle and bustle wh

Key facts

• Recent updates
• Spacious deck
• Remodeled bathrooms

Tags

• DEEDED RIGHTS TO LONG BEACH
• SPACIOUS DECK
• RECENT UPDATES
• REMODELED BATHROOMS

Property features AI

Exterior

• Parking: 1–4 parking spaces; no garage
• Utilities: Electric service with circuit breakers; Private sewer via septic tank
• Home design: Mobile home with ranch-style design; Single-story (ranch)
• Construction: Building area approximately 848 (above-grade finished area)
• Exterior features: Metal roof; Lot of about 0.17 acres; Private well water

Interior

• Kitchen: First-level kitchen (approx. 11.04 x 9.11)
• Bedrooms: Bedroom 1 on the first level (approx. 16.07 x 10.1); Bedroom 2 on the first level (approx. 8.11 x 11.01)
• Flooring: Carpet; Laminate; Vinyl; Linoleum
• Bathrooms: One full bathroom and one half bathroom (1.5 total)
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Carpet, laminate, vinyl and linoleum flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/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 $148k (1.4% below list).
• Recommended offer: $148k (1.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Sebago Public Schools (rural): math 30% / reading 55% proficiency, ranked #92 of 185 in ME (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 1,405 units permitted in Cumberland County in 2024 (420 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cumberland County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Recommended offer $147,896 (1.4% below list)

Questions for the listing agent

1. Built in 1968 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.99% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.84%
• DSCR: 1.17
• GRM: 8.5

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-15,719
• Equity at exit: $22,365

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-2,572
• Equity at exit: $12,969

Cash invested: $42,000 (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 04029

• Home prices YoY: -7.5%
• Active inventory: 31
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$185 /mo · $2,217/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $135

Break-even live

Break-even rent $1,309

Max offer price $150,000

Occupancy floor 86%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-02
   status Pending 817-char remark
2. 2026-04-30
   listed $150,000 Active 817-char remark
3. 2025-10-23
   price $167,500
4. 2025-10-08
   price $170,000

ⓘ 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: $2,217 · $185/mo
• Projected year-2 tax: $2,217 · $185/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $17,748
• − Mortgage interest: −$8,402
• − Property taxes: −$2,217
• − Insurance: −$750
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$4,364
• Taxable loss: −$825
• Est. tax savings @ 24.0%: +$198
• After-tax cash flow: $1,812/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: Sebago Public Schools
• NCES district ID: 2314837
• Math proficiency: 30% —
• Reading proficiency: 55% —
• Median HH income: $49,654
• Composite: 38.81/100
• National rank: #8348
• State rank: #92 of 185 in ME

Livability — Sebago

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 2,124

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 313,805 people
• By 2030: 324,054 · +3.3%
• By 2040: 340,380 · +8.5%
• By 2050: 351,796 · +12.1%
• By 2075: 383,075 · +22.1%
• By 2100: 394,972 · +25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 15% Slovak 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Cumberland

• 2024 margin: Solid D (+36.3) · D 66.9% · R 30.6% · Other 2.5%
• 2008→2024 swing: +6.4pp toward D · 2008: 29.9pp · 2024: 36.3pp
• All cycles: 2024: D+36.3 2020: D+35.7 2016: D+26.4 2012: D+26.3 2008: D+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.09%
• Current HPI: 283.8753
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-14.3% since first listed

9 events — show timeline

• 2026-05-29 Sold (MLS) $150,000 MREIS
• 2026-05-03 Delisted — MREIS
• 2026-05-02 Pending — MREIS
• 2026-04-30 Listed $150,000 MREIS
• 2026-04-16 Listed $298,900 MREIS
• 2026-01-12 Delisted — MREIS
• 2025-10-23 Price Changed $167,500 MREIS
• 2025-10-08 Price Changed $170,000 MREIS
• 2025-08-20 Listed $175,000 MREIS

Property tax history

+9.7%/yr

Latest (2025): $2,217 · +8.8% YoY. Source: county tax records.