36 Kelley Rd · Orono, ME 04473

$279,000

3 bd · 3.0 ba · 1,599 sqft · SingleFamily public records · 157 Days on market

Built 1960 1.42 ac lot $174/sqft · at area comps Est $284k · 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).

• Cash flow +13.0/30.0
• ARV discount +8.3/15.0
• Schools +7.5/10.0
• 1% rule +4.0/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

Key facts

• Flexible layout
• Prime location
• Rare 1.42 acre lot

Tags

• RARE 1.42 ACRE LOT
• FLEXIBLE LAYOUT
• ESTABLISHED RENTAL USE
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $-15 ($-182/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (9.8% below list).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#49 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• RSU 26 (suburban): math 88% / reading 90% proficiency, ranked #39 of 112 in ME (top 35%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).
• At $2,516/mo this rent would consume 49% of the median local household income ($62k/yr) (locally 423% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $76k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $245,520 (12.0% 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. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 9.2

CMA / ARV

• ARV (median comp): $284,029
• List price: $279,000
• Delta: -1.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 Main St	0.52mi	3/2.0	1,543 (-4%)	5mo	$245,000	$159	62
22 Old Kelley Ave	0.12mi	4/2.0 (+1)	1,428 (-11%)	14mo	$359,000	$251	56
5 Pinewood St	0.62mi	3/1.5	1,550 (-3%)	7mo	$270,000	$174	54
10 Pinewood St	0.65mi	3/2.5	1,638 (+2%)	13mo	$393,400	$240	53
22 Mainewood Ave	0.63mi	3/1.5	1,488 (-7%)	7mo	$310,000	$208	47
6 Glenwood St	0.63mi	3/1.0	1,632 (+2%)	16mo	$279,000	$171	45
269 Main St	0.58mi	2/1.5 (-1)	1,499 (-6%)	9mo	$303,000	$202	44
42 Gilbert St	0.54mi	3/2.0	1,460 (-9%)	15mo	$290,000	$199	44
25 Mainewood Ave	0.68mi	3/1.5	1,830 (+14%)	20mo	$275,000	$150	22

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

Projected returns pro-forma

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

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-46,094
• Equity at exit: $41,600

10-year hold

• IRR: -8.4%
• Equity multiple: 0.47×
• Total profit: $-41,043
• Equity at exit: $24,123

Cash invested: $78,120 (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 04473

• Home prices YoY: -34.5%
• Active inventory: 25
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,516 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$423 /mo · $5,080/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-15

Break-even live

Break-even rent $2,535

Max offer price $276,316

Occupancy floor 96%

Sensitivity live

Price	-10% $143	-5% $64	+0% $-15	+5% $-94	+10% $-173
Rent	-10% $-214	-5% $-115	+0% $-15	+5% $84	+10% $184
Rate	-1.0pp $125	-0.5pp $56	base $-15	+0.5pp $-87	+1.0pp $-161

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
295 Main St Orono, ME	4.0	2.0	1200	$3,100	$2.58	44d	1	0.47mi

Listing history 31 events

1. 2026-06-19
   days on market $279,000 Active 157 DOM
2. 2026-06-18
   days on market $279,000 Active 156 DOM
3. 2026-06-17
   days on market $279,000 Active 155 DOM
4. 2026-06-16
   days on market $279,000 Active 154 DOM
5. 2026-06-15
   days on market $279,000 Active 153 DOM
6. 2026-06-14
   days on market $279,000 Active 151 DOM
7. 2026-06-13
   days on market $279,000 Active 150 DOM
8. 2026-06-10
   days on market $279,000 Active 148 DOM
9. 2026-06-09
   days on market $279,000 Active 147 DOM
10. 2026-06-08
    days on market $279,000 Active 146 DOM
11. 2026-06-07
    days on market $279,000 Active 145 DOM
12. 2026-06-05
    days on market $279,000 Active 142 DOM
13. 2026-06-03
    days on market $279,000 Active 141 DOM
14. 2026-06-02
    days on market $279,000 Active 140 DOM
15. 2026-06-01
    days on market $279,000 Active 139 DOM
16. 2026-05-31
    days on market $279,000 Active 138 DOM
17. 2026-05-30
    days on market $279,000 Active 137 DOM
18. 2026-05-15
    price $289,000 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

19. 2026-04-28
    status Active 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

20. 2026-04-20
    historical Active Under Contract 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

21. 2026-04-09
    status Active 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

22. 2026-04-09
    price $299,000 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

23. 2025-10-15
    historical 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

24. 2025-08-22
    price $330,000 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

25. 2025-08-22
    price $333,000 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

26. 2025-08-05
    price $345,000 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

27. 2025-07-20
    listed $355,000 Active 1715-char remark

    Show marketing remark (1715 chars)

    Spacious 4-Bed, 2-Bath Home with Bonus Rooms & Income Potential - Just 5 Minutes from UMaine! Orono, Maine | 4 Bed | 2 Bath | 2 Bonus Rooms | 1.42 Acres | 1,599 Sq Ft Located just 5 minutes from the University of Maine in Orono, this spacious and versatile home offers strong investment potential, a flexible layout, and a rare 1.42-acre lot. Whether you're looking to expand your rental portfolio or settle into a well-positioned residence, this property has the features and location to deliver. Property Highlights: 4 Bedrooms & 2 Full Bathrooms: Generous bedroom space ideal for student housing, roommates, or family living. 2 Additional Bonus Rooms: Use as home offices, workout spaces, media rooms, or private study areas — plenty of options to suit your lifestyle or rental setup. 1,599 Sq Ft of Living Space: Functional layout that balances private and communal areas for comfortable everyday use. Large 1.42-Acre Lot: A rare find in-town with room for outdoor living, privacy, or possible future improvements. Established Rental Use: Currently utilized as a rental property for UMaine students, offering excellent income potential for investors or owner-occupiers. Prime Location: Close to campus, downtown Orono, restaurants, and Route 2 — easy access for students, faculty, and professionals alike. Investment & Lifestyle Options: Maintain as a reliable college rental with strong demand Live-in owner setup with space for roommates or family Whether you're seeking steady rental income or a flexible home base in a thriving university town, this Orono property delivers both opportunity and value. Schedule your showing today and see the potential for yourself!

28. 2024-04-02
    status Pending 442-char remark

    Show marketing remark (442 chars)

    This snug 3-bedroom home comes with an attached in-law efficiency, conveniently situated in Orono just off of I95. Its prime location makes it ideal for professionals or students in the Orono area, with effortless access to neighboring towns. Nestled on nearly 1.5 acres of land, relish in the privacy without sacrificing convenience. Presently, the main home is leased until 6/28/24, while the in-law unit operates on a month-to-month basis.

29. 2024-04-01
    soldstatus $260,000 Closed 442-char remark

    Show marketing remark (442 chars)

    This snug 3-bedroom home comes with an attached in-law efficiency, conveniently situated in Orono just off of I95. Its prime location makes it ideal for professionals or students in the Orono area, with effortless access to neighboring towns. Nestled on nearly 1.5 acres of land, relish in the privacy without sacrificing convenience. Presently, the main home is leased until 6/28/24, while the in-law unit operates on a month-to-month basis.

30. 2024-03-02
    historical Active Under Contract 442-char remark

    Show marketing remark (442 chars)

    This snug 3-bedroom home comes with an attached in-law efficiency, conveniently situated in Orono just off of I95. Its prime location makes it ideal for professionals or students in the Orono area, with effortless access to neighboring towns. Nestled on nearly 1.5 acres of land, relish in the privacy without sacrificing convenience. Presently, the main home is leased until 6/28/24, while the in-law unit operates on a month-to-month basis.

31. 2024-02-22
    listed $275,000 Active 442-char remark

    Show marketing remark (442 chars)

    This snug 3-bedroom home comes with an attached in-law efficiency, conveniently situated in Orono just off of I95. Its prime location makes it ideal for professionals or students in the Orono area, with effortless access to neighboring towns. Nestled on nearly 1.5 acres of land, relish in the privacy without sacrificing convenience. Presently, the main home is leased until 6/28/24, while the in-law unit operates on a month-to-month basis.

ⓘ 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: $5,080 · $423/mo
• Projected year-2 tax: $5,080 · $423/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°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: $30,190
• − Mortgage interest: −$15,628
• − Property taxes: −$5,080
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$8,116
• Taxable loss: −$4,860
• Est. tax savings @ 24.0%: +$1,166
• After-tax cash flow: $984/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 26
• NCES district ID: 2314778
• Math proficiency: 88% ▲ 33.00%
• Reading proficiency: 90% ▲ 21.00%
• Median HH income: $44,087
• Composite: 74.55/100
• National rank: #156
• State rank: #39 of 112 in ME

Livability — Orono

• Score: 73/100
• State rank: #49
• US rank: #5067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orono, ME
• County: Penobscot County · 81,539 people
• City population: 8,371
• Metro: Bangor, ME
• Population (ZIP): 8,371
• Household income: $61,528
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 423.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Asian 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 7% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 92% English-only · Other Indo-European 2% French/Haitian/Cajun 1% Spanish 1%

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: ▼ -116.22%
• Current HPI: 220.35
• Rent YoY: —
• Metro: Bangor, ME
• State GDP YoY: —
• F500 in state: 0

Price history

+5.1% since first listed

14 events — show timeline

• 2026-05-15 Price Changed $289,000 MREIS
• 2026-04-28 Relisted — MREIS
• 2026-04-20 Contingent — MREIS
• 2026-04-09 Relisted — MREIS
• 2026-04-09 Price Changed $299,000 MREIS
• 2025-10-15 Delisted — MREIS
• 2025-08-22 Price Changed $330,000 MREIS
• 2025-08-22 Price Changed $333,000 MREIS
• 2025-08-05 Price Changed $345,000 MREIS
• 2025-07-20 Listed $355,000 MREIS
• 2024-04-02 Pending — MREIS
• 2024-04-01 Sold (MLS) $260,000 MREIS
• 2024-03-02 Contingent — MREIS
• 2024-02-22 Listed $275,000 MREIS

Property tax history

+2.6%/yr

Latest (2025): $5,080 · +1.6% YoY. Source: county tax records.