113 Fenwick Rd · Belmont, ME 04952

$129,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 414 Days on market

0.30 ac lot $168/sqft · 41% below area Est $254k · 49% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• Schools +6.7/10.0
• DSCR +4.1/10.0
• Appreciation +3.9/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the possibilities with this ranch-style home featuring a convenient addition, creating a 2-bedroom, 1-bath layout. Situated in a peaceful setting, this property offers a great opportunity for buyers looking for a seasonal retreat or year-round living. The home does need some updating, but with a little vision and creativity, it could become the perfect summer getaway or hunting season escape. Whether you're looking to invest, renovate, or simply enjoy the tranquility of Maine living, this property offers plenty of potential. Don't miss your chance to make this hidden gem your own—bring your imagination and explore all it has to offer!

Key facts

• 0.3 acre lot
• Parking
• Listed 414 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $4 ($42/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (16.4% below list).
• Recommended offer: $108k (16.4% 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 71 (town): math 79% / reading 82% proficiency, ranked #85 of 112 in ME (top 76%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 14 active listings in the ZIP; 143 units permitted in Waldo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $892 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Waldo County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 414 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $129k implies a 416% gain — meaningful room to come down on a strong offer.

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 $107,838 (16.4% below list)

Questions for the listing agent

1. It's been on market 414 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.84% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

• ARV (median comp): $254,325
• List price: $129,000
• Delta: -49.28%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-2.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.55×
• Total profit: $-16,158
• Equity at exit: $24,056

10-year hold

• IRR: -3.6%
• Equity multiple: 0.73×
• Total profit: $-9,817
• Equity at exit: $19,614

Cash invested: $36,120 (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 04952

• Home prices YoY: -0.8%
• Active inventory: 14
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $4

Break-even live

Break-even rent $1,074

Max offer price $129,000

Occupancy floor 95%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $129,000 Active 414 DOM
2. 2026-06-17
   days on market $129,000 Active 413 DOM
3. 2026-06-16
   days on market $129,000 Active 412 DOM
4. 2026-06-15
   days on market $129,000 Active 411 DOM
5. 2026-06-13
   days on market $129,000 Active 409 DOM
6. 2026-06-12
   days on market $129,000 Active 408 DOM
7. 2026-06-09
   days on market $129,000 Active 405 DOM
8. 2026-06-08
   days on market $129,000 Active 404 DOM
9. 2026-06-07
   days on market $129,000 Active 403 DOM
10. 2026-06-07
    days on market $129,000 Active 402 DOM
11. 2026-06-04
    days on market $129,000 Active 399 DOM
12. 2026-06-02
    days on market $129,000 Active 398 DOM
13. 2026-06-01
    days on market $129,000 Active 397 DOM
14. 2026-05-31
    days on market $129,000 Active 396 DOM
15. 2026-05-31
    days on market $129,000 Active 395 DOM
16. 2025-10-29
    price $129,000 657-char remark

    Show marketing remark (657 chars)

    Discover the possibilities with this ranch-style home featuring a convenient addition, creating a 2-bedroom, 1-bath layout. Situated in a peaceful setting, this property offers a great opportunity for buyers looking for a seasonal retreat or year-round living. The home does need some updating, but with a little vision and creativity, it could become the perfect summer getaway or hunting season escape. Whether you're looking to invest, renovate, or simply enjoy the tranquility of Maine living, this property offers plenty of potential. Don't miss your chance to make this hidden gem your own—bring your imagination and explore all it has to offer!

17. 2025-07-15
    price $139,000 657-char remark

    Show marketing remark (657 chars)

    Discover the possibilities with this ranch-style home featuring a convenient addition, creating a 2-bedroom, 1-bath layout. Situated in a peaceful setting, this property offers a great opportunity for buyers looking for a seasonal retreat or year-round living. The home does need some updating, but with a little vision and creativity, it could become the perfect summer getaway or hunting season escape. Whether you're looking to invest, renovate, or simply enjoy the tranquility of Maine living, this property offers plenty of potential. Don't miss your chance to make this hidden gem your own—bring your imagination and explore all it has to offer!

18. 2025-06-03
    price $149,000 657-char remark

    Show marketing remark (657 chars)

    Discover the possibilities with this ranch-style home featuring a convenient addition, creating a 2-bedroom, 1-bath layout. Situated in a peaceful setting, this property offers a great opportunity for buyers looking for a seasonal retreat or year-round living. The home does need some updating, but with a little vision and creativity, it could become the perfect summer getaway or hunting season escape. Whether you're looking to invest, renovate, or simply enjoy the tranquility of Maine living, this property offers plenty of potential. Don't miss your chance to make this hidden gem your own—bring your imagination and explore all it has to offer!

19. 2025-04-30
    listed $159,000 Active 657-char remark

    Show marketing remark (657 chars)

    Discover the possibilities with this ranch-style home featuring a convenient addition, creating a 2-bedroom, 1-bath layout. Situated in a peaceful setting, this property offers a great opportunity for buyers looking for a seasonal retreat or year-round living. The home does need some updating, but with a little vision and creativity, it could become the perfect summer getaway or hunting season escape. Whether you're looking to invest, renovate, or simply enjoy the tranquility of Maine living, this property offers plenty of potential. Don't miss your chance to make this hidden gem your own—bring your imagination and explore all it has to offer!

20. 2017-02-09
    soldstatus $25,000 Sold 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

21. 2017-01-09
    price $29,000 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

22. 2017-01-09
    status Pending 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

23. 2017-01-09
    status Active 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

24. 2016-12-23
    historical 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

25. 2016-10-31
    price $39,900 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

26. 2016-09-15
    price $44,900 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

27. 2016-06-28
    listed $49,900 Active 180-char remark

    Show marketing remark (180 chars)

    Cute little 1 bedroom 1 bath home with half an acre. The home is in need of some repair. Would make a great little starter home or your own little piece of Maine for long weekends.

ⓘ 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: $1,418 · $118/mo
• Projected year-2 tax: $1,586 · $132/mo
• Expected delta: +$168/yr (+$14/mo · 11.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 14 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: $12,941
• − Mortgage interest: −$7,226
• − Property taxes: −$1,418
• − Insurance: −$645
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$3,753
• Taxable loss: −$2,172
• Est. tax savings @ 24.0%: +$521
• After-tax cash flow: $563/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 71
• NCES district ID: 2314822
• Math proficiency: 79% ▲ 55.00%
• Reading proficiency: 82% ▲ 34.00%
• Median HH income: $43,774
• Composite: 67.47/100
• National rank: #374
• State rank: #85 of 112 in ME

Livability — Belmont

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

Census & demographics

• Population (ZIP): 1,853

Population outlook (Waldo County) Hauer SSP2

• Today (2025): 39,611 people
• By 2030: 39,475 · -0.3%
• By 2040: 38,245 · -3.4%
• By 2050: 36,078 · -8.9%
• By 2075: 29,774 · -24.8%
• By 2100: 22,172 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2%
• Common ancestry: Lithuanian 8% Slovak 3% Romanian 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · German/W. Germanic 1%

Political lean MEDSL · Waldo

• 2024 margin: Toss-up / Even · D 50.4% · R 47.0% · Other 2.6%
• 2008→2024 swing: -8.3pp toward R · 2008: 11.6pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+4.7 2016: D+0.3 2012: D+10.7 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.17%
• Current HPI: 259.4783
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+158.5% since first listed

12 events — show timeline

• 2025-10-29 Price Changed $129,000 MREIS
• 2025-07-15 Price Changed $139,000 MREIS
• 2025-06-03 Price Changed $149,000 MREIS
• 2025-04-30 Listed $159,000 MREIS
• 2017-02-09 Sold (MLS) $25,000 MREIS
• 2017-01-09 Price Changed $29,000 MREIS
• 2017-01-09 Pending — MREIS
• 2017-01-09 Relisted — MREIS
• 2016-12-23 Delisted — MREIS
• 2016-10-31 Price Changed $39,900 MREIS
• 2016-09-15 Price Changed $44,900 MREIS
• 2016-06-28 Listed $49,900 MREIS

Property tax history

+7.4%/yr

Latest (2024): $1,418 · +3.1% YoY. Source: county tax records.