64 Main St · Richmond, ME 04357

$795,000

12 bd · 6.0 ba · 6,214 sqft · MultiFamily · 128 Days on market

Built 1900 5,227 sqft lot

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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 +7.5/15.0
• Cash flow +7.4/30.0
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Kimberly's Restaurant and Lounge business located at 64 Main Street. Building has three units including the fully equipped restaurant and 2 bedrooms on 2nd floor •Well-known restaurant with a strong local presence •Indoor seating, lounge and outdoor seating •Highly visible location with traffic counts on Main Street of 5,160± cars/day (AADT, 2023) •Offers a diverse menu of quality food and drinks •Additional revenue with two apartment units •FF & E included in sale. Financials available with signed NDA. See Broker for details.

Key facts

• Indoor seating
• Outdoor seating
• Ff&e included

Tags

• FULLY EQUIPPED RESTAURANT
• INDOOR SEATING
• OUTDOOR SEATING
• HIGHLY VISIBLE LOCATION
• TWO APARTMENT UNITS
• FF&E INCLUDED

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/2.0-bath units multifamily listed at $795k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative. Per door: $-337/mo.
• To cash-flow at today's rent, offer at most $649k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $568k (28.6% below list).
• Recommended offer: $568k (28.6% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 2.2% in Richmond — 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 68/100 on livability (#83 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• Market conditions: 193 units permitted in Sagadahoc County in 2024 (56 in 5+ unit buildings).

Forward outlook

• In year one you build about $85k of equity ($5k loan paydown + $80k appreciation (10.0% local appreciation)).
• Sagadahoc County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($700k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $567,500 (28.6% 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 128 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 0.71% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.45%
• DSCR: 0.76
• GRM: 11.7

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: 20.4%
• Equity multiple: 2.66×
• Total profit: $368,684
• Equity at exit: $716,199

10-year hold

• IRR: 18.6%
• Equity multiple: 6.11×
• Total profit: $1,136,512
• Equity at exit: $1,544,510

Cash invested: $222,600 (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 04357

• Home prices YoY: 7.3%
• Price-to-rent: 35.0×

Monthly cashflow live

• Estimated rent: $5,675 medium
• Mortgage (P&I): −$4,169
• Tax est. 1.5%: −$994 /mo · $11,925/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,192
• Net cashflow: $-1,011

Break-even live

Break-even rent $6,955

Max offer price $648,733

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	2	$5,676
Total (3 units)			$5,675

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $795,000 Active 128 DOM
2. 2026-06-18
   days on market $795,000 Active 127 DOM
3. 2026-06-17
   days on market $795,000 Active 126 DOM
4. 2026-06-16
   days on market $795,000 Active 125 DOM
5. 2026-06-15
   days on market $795,000 Active 124 DOM
6. 2026-06-14
   days on market $795,000 Active 122 DOM
7. 2026-06-12
   days on market $795,000 Active 121 DOM
8. 2026-06-09
   days on market $795,000 Active 118 DOM
9. 2026-06-08
   days on market $795,000 Active 117 DOM
10. 2026-06-07
    days on market $795,000 Active 116 DOM
11. 2026-06-05
    days on market $795,000 Active 113 DOM
12. 2026-06-03
    days on market $795,000 Active 112 DOM
13. 2026-06-02
    days on market $795,000 Active 111 DOM
14. 2026-06-01
    days on market $795,000 Active 110 DOM
15. 2026-05-31
    days on market $795,000 Active 109 DOM
16. 2026-05-30
    days on market $795,000 Active 108 DOM
17. 2026-02-11
    listed $795,000 Active 579-char remark

    Show marketing remark (579 chars)

    Kimberly's Restaurant and Lounge business located at 64 Main Street. Building has three units including the fully equipped restaurant and 2 bedrooms on 2nd floor •Well-known restaurant with a strong local presence •Indoor seating, lounge and outdoor seating •Highly visible location with traffic counts on Main Street of 5,160± cars/day (AADT, 2023) •Offers a diverse menu of quality food and drinks •Additional revenue with two apartment units •FF & E included in sale. Financials available with signed NDA. See Broker for details.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $68,100
• − Mortgage interest: −$44,532
• − Property taxes: −$11,925
• − Insurance: −$3,975
• − Repairs & maintenance: −$5,448
• − Management: −$5,448
• − Depreciation: −$23,127
• Taxable loss: −$26,356
• Est. tax savings @ 24.0%: +$6,325
• After-tax cash flow: $-5,804/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 — Richmond

• Score: 68/100
• State rank: #83
• US rank: #9679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, ME
• City population: 3,555
• Population (ZIP): 3,555

Population outlook (Sagadahoc County) Hauer SSP2

• Today (2025): 34,670 people
• By 2030: 34,001 · -1.9%
• By 2040: 31,757 · -8.4%
• By 2050: 28,504 · -17.8%
• By 2075: 21,252 · -38.7%
• By 2100: 12,895 · -62.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 13% Romanian 9% Slovak 5%
• Foreign-born: 3%
• Languages at home: 96% English-only · Russian/Polish/Slavic 3% French/Haitian/Cajun 1%

Political lean MEDSL · Sagadahoc

• 2024 margin: D (+16.6) · D 57.2% · R 40.5% · Other 2.3%
• 2008→2024 swing: +0.5pp no change · 2008: 16.1pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+15.7 2016: D+6.4 2012: D+16.4 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.64%
• Current HPI: 304.6766
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-02-11 Listed $795,000 MREIS