195 Greenbush Rd · Corinna, ME 04928

$340,000

3 bd · 2.0 ba · 1,260 sqft · MultiFamily public records · 8 Days on market

Built 1993 15 ac lot

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Why this score? — see what drove the C- 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 +12.8/30.0
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• DSCR +3.8/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Situated on 15.3± acres, this meticulously well maintained one-level ranch offers the perfect blend of comfort, privacy, and functionality. The property includes two lots being conveyed together, featuring 2.4 open acres with a lush green lawn, and the remaining land is wooded for added recreation. A long driveway lined with beautiful mature trees creates a truly welcoming approach to the home. Inside, you'll find a bright and inviting open-concept kitchen and living area with warm wood floors throughout the main living space. The home offers 2 bedrooms and 2 bathrooms, a laundry room, along with a sunroom and a convenient porch/mudroom area that adds extra living and storage space.

Key facts

• Two lots
• Lush green lawn
• 2.4 open acres

Tags

• 15.3 ACRES
• TWO LOTS
• 2.4 OPEN ACRES
• LUSH GREEN LAWN
• WOODED LAND
• LONG DRIVEWAY

Property features AI

Finance

• Financial info: Annual tax information available (not included per instructions)

Exterior

• Parking: Detached 2-car garage with auto door opener; Additional on-site gravel parking for 5–10 vehicles
• Security: No specific security features listed
• Utilities: Private well water; Private sewer; Circuit breaker electrical service; Utilities currently on; Water heater tied to heating system
• Home design: Single-family residence; Built in 1993; Facing direction not specified
• Construction: Wood frame with vinyl siding; Metal roof; Full basement with interior entry
• Exterior features: Deck; Porch; Outbuilding; Level, wooded lot; Paved road access

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on the first floor; Bedroom 2 on the first floor
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (also provides cooling); Baseboard heating; Hot water heating; Wood stove
• Interior features: First-floor primary bedroom with bath; Bathtub; Shower; One-floor living; Double-pane windows; 7 total rooms
• Laundry & utility: Washer and dryer included; Main-level laundry; Interior entry to full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $-34 ($-405/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (21.4% below list).
• Recommended offer: $267k (21.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Nokomis Regional Middle School (math 68% / reading 79%, grade A, #79 of 85 statewide, top 95%, 544 students, 45% FRL); Nokomis Regional High School (math 87% / reading 92%, grade A+, #56 of 108 statewide, top 60%, 634 students, 41% FRL).
• Market conditions: 10 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (8.3% local appreciation)).
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $267,300 (21.4% 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. 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: 0.79% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.51×
• Total profit: $143,751
• Equity at exit: $264,610

10-year hold

• IRR: 18.7%
• Equity multiple: 5.40×
• Total profit: $418,827
• Equity at exit: $531,377

Cash invested: $95,200 (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 04928

• Home prices YoY: 2.8%
• Active inventory: 10
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $2,673 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$221 /mo · $2,649/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-34

Break-even live

Break-even rent $2,716

Max offer price $334,039

Occupancy floor 96%

Sensitivity live

Price	-10% $159	-5% $62	+0% $-34	+5% $-130	+10% $-226
Rent	-10% $-245	-5% $-139	+0% $-34	+5% $72	+10% $177
Rate	-1.0pp $137	-0.5pp $53	base $-34	+0.5pp $-122	+1.0pp $-211

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,672
Total (2 units)			$2,673

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-18
   listed $340,000 Active

ⓘ 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: $2,649 · $221/mo
• Projected year-2 tax: $3,636 · $303/mo
• Expected delta: +$988/yr (+$82/mo · 37.3%)

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

Taxation est. · year 1

• Rental income: $32,076
• − Mortgage interest: −$19,045
• − Property taxes: −$2,649
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$9,891
• Taxable loss: −$6,341
• Est. tax savings @ 24.0%: +$1,522
• After-tax cash flow: $1,117/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Corinna

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

Census & demographics

• Population (ZIP): 2,079

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 11% Serbian 5% Slovak 3%
• Foreign-born: 2% · Canada

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: ▲ 8.27%
• Current HPI: 306.6748
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-18 Listed $340,000 MREIS

Property tax history

+2.1%/yr

Latest (2025): $2,649 · +10.3% YoY. Source: county tax records.