11 Ryder Rd · Hallowell, ME 04344

$299,900

2 bd · 2.0 ba · 1,118 sqft · MultiFamily · 8 Days on market

Built 1988 1.00 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 +21.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.2/10.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• Livability +3.6/5.0
• Rent growth +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 MLS

This 100% remodeled ranch is gorgeous! Brand new birch hardwood floors throughout. New white kitchen with center island, new appliances and Corian counters. Open concept to dining and living room. Master suite has new custom bathroom with tiled walk-in shower. Spacious second bedroom, second full bath with tub. 1st floor laundry, attached garage, fully sheet rocked and insulated. New rear deck, windows, heating system, plumbing, roof and so much more! Great curb appeal, tax friendly Farmingdale.

Key facts

• Large back deck
• Blueberry bushes
• Fruit trees

Tags

• STUNNING PRIVATE BACKYARD
• 8' CEDAR PRIVACY FENCE
• FENCED SPACE FOR DOGS
• FRUIT TREES
• BLUEBERRY BUSHES
• LARGE BACK DECK

Property features AI

Exterior

• Parking: Attached 2-car garage with automatic door opener, direct entry to living area, heated; Paved parking with 5–10 spaces
• Utilities: Private well water; Private sewer (septic tank); Electric service with circuit breakers and third-party owned photovoltaics; Heat-pump water heater
• Home design: Single family residence; Built in 1984
• Construction: Wood frame construction with vinyl siding; Shingle roof
• Exterior features: Deck; Level, rural lot near shopping, town and turnpike/interstate; Paved road

Interior

• Kitchen: Eat-in kitchen with island; Dishwasher; Microwave; Gas range; Refrigerator
• Bedrooms: Primary bedroom on first floor with closet and full bath (suite); Second bedroom on first floor with closet
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating and cooling); Direct vent heater
• Interior features: One-floor living; First-floor bedroom and primary bedroom with full bath (suite); Shower; Double-pane windows; Internet access available
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 8.0% vs local median 2.7% in Hallowell — 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 71/100 on livability (#60 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• RSU 02 (rural): math 83% / reading 87% proficiency, ranked #52 of 112 in ME (top 46%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 11 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 $32k of equity ($2k loan paydown + $30k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k 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.
• 2 sale attempts since 8y 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.
• Current owner paid $189k; list at $300k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $299,900

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. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.7%
• Equity multiple: 3.27×
• Total profit: $190,663
• Equity at exit: $270,174

10-year hold

• IRR: 25.0%
• Equity multiple: 7.43×
• Total profit: $539,900
• Equity at exit: $582,640

Cash invested: $83,972 (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 04344

• Home prices YoY: 7.0%
• Active inventory: 11
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $3,014 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$254 /mo · $3,046/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $430

Break-even live

Break-even rent $2,470

Max offer price $299,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,014
Total (2 units)			$3,014

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-17
   status $299,900 Pending 8 DOM
2. 2026-06-16
   days on market $299,900 Active 8 DOM
3. 2026-06-15
   days on market $299,900 Active 7 DOM
4. 2026-06-14
   days on market $299,900 Active 5 DOM
5. 2026-06-12
   days on market $299,900 Active 4 DOM
6. 2026-06-09
   remarks 699-char remark
7. 2026-06-09
   listed $299,900 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: $3,046 · $254/mo
• Projected year-2 tax: $3,562 · $297/mo
• Expected delta: +$516/yr (+$43/mo · 17.0%)

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

Taxation est. · year 1

• Rental income: $36,168
• − Mortgage interest: −$16,799
• − Property taxes: −$3,046
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,893
• − Management: −$2,893
• − Depreciation: −$8,724
• Taxable income: $312
• Est. tax owed @ 24.0%: −$75
• After-tax cash flow: $5,080/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 02
• NCES district ID: 2314776
• Math proficiency: 83% ▲ 56.00%
• Reading proficiency: 87% ▲ 34.00%
• Median HH income: $52,565
• Composite: 72.04/100
• National rank: #208
• State rank: #52 of 112 in ME

Livability — Hallowell

• Score: 71/100
• State rank: #60
• US rank: #6567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,570
• Population (ZIP): 3,001

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 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 16% Slovak 6% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Other Indo-European 5% Spanish 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: ▲ 18.33%
• Current HPI: 281.8416
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+51.7% since first listed

4 events — show timeline

• 2026-06-08 Listed $299,900 MREIS
• 2019-02-14 Sold (MLS) $189,000 MREIS
• 2018-12-26 Pending — MREIS
• 2018-10-17 Listed $197,750 MREIS

Property tax history

+5.4%/yr

Latest (2025): $3,046 · -3.1% YoY. Source: county tax records.