200 Fourth St · Old Town, ME 04468

$190,000

4 bd · 1.0 ba · 1,343 sqft · SingleFamily public records · 276 Days on market

Built 1900 4,791 sqft lot Est $215k · 12% under ↓ 4% since listing

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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).

• Cash flow +20.7/30.0
• ARV discount +12.7/15.0
• Schools +6.8/10.0
• DSCR +6.6/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Key facts

• 4,791 sq ft lot
• Parking
• Built 1900

Property features AI

Exterior

• Parking: 1–4 spaces on gravel; Other vehicle storage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1900
• Construction: Vinyl siding; Wood frame construction; Stone and brick/mortar foundation; Shingle roof
• Exterior features: Deck; Porch; Shed(s); Open, level lot; Near shopping; Neighborhood/suburban setting; Paved road

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: Bedroom 1 on first floor; Bedroom 2 on second floor; Bedroom 3 on second floor; Bedroom 4 on second floor; Bedroom 5 on second floor
• Flooring: Wood; Vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Direct vent furnace; Baseboard heating; Circuit breaker electric service; Electric water heater
• Interior features: First-floor bedroom; Shower; Unfurnished; Internet access available; 8 total rooms
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 6.0% in Old Town — 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 75/100 on livability (#38 in ME, #3,905 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D, amenities F.
• RSU 34 (suburban): math 81% / reading 83% proficiency, ranked #80 of 112 in ME (top 71%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 46 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).
• This rent runs 43% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 276 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 276 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $214,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Fourth St	0.00mi	5/1.0 (+1)	1,343 (0%)	1mo	$190,000	$141	94
87 Veazie St	0.10mi	4/1.5	1,355 (+1%)	9mo	$215,000	$159	85
108 Middle St	0.26mi	3/2.0 (-1)	1,368 (+2%)	9mo	$264,900	$194	68
26 Elm St	0.30mi	3/2.0 (-1)	1,305 (-3%)	6mo	$209,000	$160	67
24 Gilman Falls Ave	0.29mi	3/1.5 (-1)	1,437 (+7%)	1mo	$271,500	$189	67
30 Elm St	0.31mi	5/1.0 (+1)	1,506 (+12%)	0mo	$130,000	$86	60
58 Elm St	0.37mi	4/1.0	1,182 (-12%)	8mo	$60,000	$51	56
150 Middle St	0.28mi	3/1.5 (-1)	1,200 (-11%)	12mo	$268,000	$223	52
20 Gilmore Ct	0.31mi	5/1.0 (+1)	1,202 (-10%)	14mo	$133,201	$111	51
399 4th St	0.48mi	3/1.5 (-1)	1,250 (-7%)	13mo	$184,000	$147	48
32 Fifth St	0.48mi	3/2.5 (-1)	1,512 (+13%)	2mo	$295,000	$195	45
126 Bosworth St	0.70mi	3/1.0 (-1)	1,262 (-6%)	10mo	$217,000	$172	44

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-14,266
• Equity at exit: $28,330

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $8,973
• Equity at exit: $16,428

Cash invested: $53,200 (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 04468

• Home prices YoY: -1.8%
• Active inventory: 46
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$996
• Tax from tax record: −$259 /mo · $3,105/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $259

Break-even live

Break-even rent $1,689

Max offer price $190,000

Occupancy floor 82%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Jefferson St Unit 5 Old Town, ME	3.0	2.0	1250	$1,795	$1.44	43d	1	0.52mi
53 Perkins Ave Apt 1 Old Town, ME	3.0	1.5	1400	$2,100	$1.50	43d	1	0.59mi
128 Jefferson St Old Town, ME	3.0	1.0	1300	$1,850	$1.42	43d	1	0.70mi
13 Eaton St Old Town, ME	3.0	1.0	1200	$2,100	$1.75	43d	1	0.77mi
41 County Rd Milford, ME	3.0	2.0	1000	$1,500	$1.50	43d	1	0.78mi

Listing history 4 events

1. 2026-05-19
   status Pending
2. 2026-04-26
   historical Active Under Contract
3. 2026-02-25
   price $190,000
4. 2025-08-16
   listed $197,000 Active

ⓘ 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: $3,105 · $259/mo
• Projected year-2 tax: $3,105 · $259/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $24,198
• − Mortgage interest: −$10,643
• − Property taxes: −$3,105
• − Insurance: −$950
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$5,527
• Taxable income: $101
• Est. tax owed @ 24.0%: −$24
• After-tax cash flow: $3,081/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 34
• NCES district ID: 2314782
• Math proficiency: 81% ▲ 48.00%
• Reading proficiency: 83% ▲ 31.00%
• Median HH income: $39,466
• Composite: 68.31/100
• National rank: #351
• State rank: #80 of 112 in ME

Livability — Old Town

• Score: 75/100
• State rank: #38
• US rank: #3905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Old Town, ME
• County: Penobscot County · 81,539 people
• City population: 9,291
• Metro: Bangor, ME
• Population (ZIP): 9,291
• Household income: $56,358
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 334.0

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 (88%)
• Race & ethnicity: White 88% Native American 6% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 18% Slovak 4% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Other Indo-European 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: ▼ -5.29%
• Current HPI: 285.3183
• Rent YoY: —
• Metro: Bangor, ME
• State GDP YoY: —
• F500 in state: 0

Price history

-3.6% since first listed

4 events — show timeline

• 2026-05-19 Pending — MREIS
• 2026-04-26 Contingent — MREIS
• 2026-02-25 Price Changed $190,000 MREIS
• 2025-08-16 Listed $197,000 MREIS

Property tax history

+4.4%/yr

Latest (2025): $3,105 · +12.9% YoY. Source: county tax records.