34 Main St · Limestone, ME 04750

$119,000

3 bd · 2.0 ba · 4,356 sqft · Other · 8 Days on market

0.60 ac lot

---

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 +23.4/30.0
• 1% rule +8.2/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits at 34 Main Street in Limestone! This versatile commercial property offers 2-3 large commercial spaces with excellent visibility and frontage on Main Street, making it ideal for a variety of business ventures. The property also features two residential apartments, providing additional income potential. Ample storage space throughout the building adds flexibility for inventory, equipment, or expansion needs. With plenty of on-site parking and a convenient in-town location, this mixed-use property presents an excellent opportunity for investors, entrepreneurs, or owner-occupants looking to grow their portfolio. You'll have to see it to understand it's potential. Don't miss y

Key facts

• Ample storage space
• Excellent visibility
• On-site parking

Tags

• LARGE COMMERCIAL SPACES
• EXCELLENT VISIBILITY
• FRONTAGE ON MAIN STREET
• TWO RESIDENTIAL APARTMENTS
• AMPLE STORAGE SPACE
• ON-SITE PARKING

Property features AI

Finance

• Other: Zoned General Business
• Financial info: Two-unit property; Gross income reported at $18,600; Operating expenses reported at $8,500; Annual tax amount reported (noted in source but excluded per instructions)
• HOA & community: No HOA information provided

Exterior

• Parking: Three-car garage; Additional common parking with 1–4 spaces
• Security: No security features provided
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Water heater off the heating system
• Home design: Multi-level building
• Construction: Wood frame construction with brick, clapboard, and fiber cement exterior materials; Block foundation; Metal roof; Total building area approximately 4,356; Property was listed with year-built data unavailable
• Exterior features: Corner lot with sidewalks; Retail strip zoning/setting; Paved road access

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two residential units: one 1-bedroom unit and one 2-bedroom unit
• Flooring: Carpet; Laminate; Wood
• Bathrooms: Two full bathrooms (total for the property)
• Heating & cooling: Baseboard heating; Heat pump heating and cooling; Hot water heating
• Interior features: Carpet, laminate, and wood flooring
• Laundry & utility: No specific laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).

Location & tenants

• Location reads 75/100 on livability (#36 in ME, #3,831 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Market conditions: 27 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($823 loan paydown + $2k appreciation (1.7% local appreciation)).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.

Recommended offer $119,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.32% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.92%
• DSCR: 1.35
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.62×
• Total profit: $20,691
• Equity at exit: $45,217

10-year hold

• IRR: 14.8%
• Equity multiple: 2.93×
• Total profit: $64,470
• Equity at exit: $63,817

Cash invested: $33,320 (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 04750

• Home prices YoY: 1.0%
• Active inventory: 27
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$349 /mo · $4,183/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $220

Break-even live

Break-even rent $1,294

Max offer price $119,000

Occupancy floor 81%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $119,000 Active 8 DOM
2. 2026-06-17
   days on market $119,000 Active 7 DOM
3. 2026-06-16
   days on market $119,000 Active 6 DOM
4. 2026-06-15
   days on market $119,000 Active 5 DOM
5. 2026-06-13
   days on market $119,000 Active 3 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $119,000 Active 2 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: $4,183 · $349/mo
• Projected year-2 tax: $4,183 · $349/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 1/10 Low 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $18,867
• − Mortgage interest: −$6,666
• − Property taxes: −$4,183
• − Insurance: −$595
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$3,462
• Taxable income: $942
• Est. tax owed @ 24.0%: −$226
• After-tax cash flow: $2,412/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)

No district data.

Livability — Limestone

• Score: 75/100
• State rank: #36
• US rank: #3831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Limestone, ME
• Population (ZIP): 1,828

Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Native American 4% Two or more races 3%
• Common ancestry: Lithuanian 24% Slovak 6% German 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · French/Haitian/Cajun 5% Arabic 2%

Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.73%
• Current HPI: 170.0936
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-0.8% since first listed

2 events — show timeline

• 2026-06-10 Listed $119,000 MREIS
• 2005-09-14 Listed $119,900 MREIS

Property tax history

+6.3%/yr

Latest (2024): $4,183 · +3.6% YoY. Source: county tax records.