644 Rome Rd · Norridgewock, ME 04963

$339,900

3 bd · 1.0 ba · 1,371 sqft · SingleFamily · 17 Days on market

Built 1988 3.16 ac lot Est $355k · at est.

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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).

• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• Schools +7.5/10.0
• Cash flow +6.1/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0
• 1% rule +0.1/10.0

Listing remarks MLS

Newly renovated 3BR/1BA ranch w/ attached garage. Enjoy summer BBQ's in a spacious yard after a day at nearby Belgrade Lakes. So much to see-don't miss this one!See attachment for PAS requirements and WFHM offer submittal information in MLS document section

Key facts

• 3.16 acre lot
• Garage
• Built 1988

Property features AI

Exterior

• Parking: Attached garage; Gravel parking with 1–4 spaces; Attached vehicle storage
• Utilities: Private well water; Septic tank (private sewer); On-site electric with circuit breakers; Electric water heater
• Home design: Single family residence; Built in 1988; Entry and living spaces on one level
• Construction: Wood frame construction with wood siding; Metal roof; Built in 1988
• Exterior features: Patio; Near town; Rural setting; Level and wooded lot; Paved road access

Interior

• Kitchen: Electric range; Wall oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on the first floor; Two additional bedrooms on the first floor; All bedrooms on the first floor
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump; Direct vent heater; Cooling provided by heat pump
• Interior features: One-floor living; First-floor bedroom; Bathtub; Total of 7 rooms
• Laundry & utility: Washer and dryer included; Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-630 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (32.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (48.8% below list).
• Recommended offer: $174k (48.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#99 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, schools F.
• RSU 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 72 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$58k 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 ($335k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $73k; list at $340k implies a 364% gain — meaningful room to come down on a strong offer.

Recommended offer $174,032 (48.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. 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.
6. 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.
7. 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: 0.51% ✗
• Cap rate: 4.07%
• Cash-on-cash: -7.94%
• DSCR: 0.65
• GRM: 16.3

CMA / ARV

• ARV (on-the-fly): $355,089
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
592 Rome Rd	0.23mi	3/1.0	1,363 (-1%)	21mo	$235,000	$172	71
93 Crystal Spring Ln	0.35mi	4/1.0 (+1)	1,461 (+7%)	24mo	$800,000	$548	48
20 Crystal Spring Ln	0.35mi	3/2.5	1,551 (+13%)	10mo	$120,000	$77	47
55 Monica Rdg	0.58mi	2/2.0 (-1)	1,450 (+6%)	12mo	$375,000	$259	44
492 Rome Rd	0.62mi	3/2.0	1,200 (-12%)	12mo	$320,000	$267	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.52×
• Total profit: $144,803
• Equity at exit: $306,209

10-year hold

• IRR: 17.3%
• Equity multiple: 5.81×
• Total profit: $457,612
• Equity at exit: $660,351

Cash invested: $95,172 (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 04963

• Home prices YoY: 25.1%
• Active inventory: 72
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $1,740 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$81 /mo · $970/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-630

Break-even live

Break-even rent $2,538

Max offer price $228,594

Occupancy floor —

Sensitivity live

Price	-10% $-438	-5% $-534	+0% $-630	+5% $-726	+10% $-822
Rent	-10% $-768	-5% $-699	+0% $-630	+5% $-561	+10% $-493
Rate	-1.0pp $-459	-0.5pp $-544	base $-630	+0.5pp $-718	+1.0pp $-808

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $339,900 Active 17 DOM
2. 2026-06-18
   days on market $339,900 Active 16 DOM
3. 2026-06-17
   days on market $339,900 Active 15 DOM
4. 2026-06-16
   days on market $339,900 Active 14 DOM
5. 2026-06-15
   days on market $339,900 Active 13 DOM
6. 2026-06-14
   days on market $339,900 Active 11 DOM
7. 2026-06-12
   days on market $339,900 Active 10 DOM
8. 2026-06-09
   days on market $339,900 Active 7 DOM
9. 2026-06-08
   days on market $339,900 Active 6 DOM
10. 2026-06-07
    days on market $339,900 Active 5 DOM
11. 2026-06-05
    days on market $339,900 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $339,900 Active 1 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: $970 · $81/mo
• Projected year-2 tax: $2,796 · $233/mo
• Expected delta: +$1,826/yr (+$152/mo · 188.3%)

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

Taxation est. · year 1

• Rental income: $20,884
• − Mortgage interest: −$19,040
• − Property taxes: −$970
• − Insurance: −$1,700
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$9,888
• Taxable loss: −$14,055
• Est. tax savings @ 24.0%: +$3,373
• After-tax cash flow: $-4,188/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 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 of 112 in ME

Livability — Norridgewock

• Score: 66/100
• State rank: #99
• US rank: #11439

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,375

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Asian 1%
• Common ancestry: Lithuanian 14% Slovak 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 3% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 76.94%
• Current HPI: 383.7687
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+363.7% since first listed

2 events — show timeline

• 2026-06-02 Listed $339,900 MREIS
• 2015-04-22 Sold (MLS) $73,300 MREIS