49 Main St · Hartland, ME 04943

$130,000

5 bd · 2.0 ba · 3,500 sqft · MultiFamily · 211 Days on market

Built 1900 Fair condition 0.25 ac lot $37/sqft · 39% below area Est $212k · 39% under ↓ 13% since listing

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment Property with Mixed-Use Potential in Central Maine. Positioned in the heart of Maine, this property presents an excellent opportunity for investors or business owners seeking a flexible income producing property. The building currently operates as a redemption center and includes two residential rental units, offering multiple revenue streams. The ground level features adaptable commercial space that could continue as its current operation or be leased to another business. The property has supported a variety of commercial uses in the past, including retail and restaurant operations, demonstrating strong versatility and visibility. Located near Great Moose Lake, Route 2, and other key destinations, the property benefits from consistent local and regional traffic. Commercial Unit: Open layout suitable for retail, service, or office use. Half bath and garage. Buyer would need to verify with CEO for any future changes. Apartment 1: 2 bedrooms, 1 bath, laundry hookups. Apartment 2: 3 bedrooms, 1 bath, laundry hookups. Whether you're looking for a turnkey investment or a property with room to expand your business ideas, this Maine gem offers excellent potential. Sq. Footage is estimated. Also listed as 1642209

Key facts

• Mixed-use potential
• 0.25 acre lot
• Garage

Tags

• MIXED-USE POTENTIAL
• ADAPTABLE COMMERCIAL SPACE
• VARIETY OF COMMERCIAL USES

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 5.9% in Hartland — 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 61/100 on livability (#120 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• RSU 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 27 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($899 loan paydown + $9k appreciation (6.7% local appreciation)).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 2.04% ✓
• Cap rate: 17.35%
• Cash-on-cash: 39.50%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

• ARV (median comp): $212,000
• List price: $130,000
• Delta: -38.68%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

6.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.3%
• Equity multiple: 4.28×
• Total profit: $119,464
• Equity at exit: $87,652

10-year hold

• IRR: 46.6%
• Equity multiple: 8.98×
• Total profit: $290,495
• Equity at exit: $164,339

Cash invested: $36,400 (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 04943

• Home prices YoY: 3.0%
• Active inventory: 27
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,654 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $1,198

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,654
Total (2 units)			$2,654

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $130,000 Active 211 DOM
2. 2026-06-17
   days on market $130,000 Active 210 DOM
3. 2026-06-16
   days on market $130,000 Active 209 DOM
4. 2026-06-15
   days on market $130,000 Active 208 DOM
5. 2026-06-14
   days on market $130,000 Active 206 DOM
6. 2026-06-13
   days on market $130,000 Active 205 DOM
7. 2026-06-10
   days on market $130,000 Active 203 DOM
8. 2026-06-09
   days on market $130,000 Active 202 DOM
9. 2026-06-08
   days on market $130,000 Active 201 DOM
10. 2026-06-07
    days on market $130,000 Active 200 DOM
11. 2026-06-05
    days on market $130,000 Active 197 DOM
12. 2026-06-03
    days on market $130,000 Active 196 DOM
13. 2026-06-02
    days on market $130,000 Active 195 DOM
14. 2026-06-01
    days on market $130,000 Active 194 DOM
15. 2026-05-31
    days on market $130,000 Active 193 DOM
16. 2026-05-30
    days on market $130,000 Active 192 DOM
17. 2026-02-23
    price $130,000 1235-char remark

    Show marketing remark (1235 chars)

    Investment Property with Mixed-Use Potential in Central Maine. Positioned in the heart of Maine, this property presents an excellent opportunity for investors or business owners seeking a flexible income producing property. The building currently operates as a redemption center and includes two residential rental units, offering multiple revenue streams. The ground level features adaptable commercial space that could continue as its current operation or be leased to another business. The property has supported a variety of commercial uses in the past, including retail and restaurant operations, demonstrating strong versatility and visibility. Located near Great Moose Lake, Route 2, and other key destinations, the property benefits from consistent local and regional traffic. Commercial Unit: Open layout suitable for retail, service, or office use. Half bath and garage. Buyer would need to verify with CEO for any future changes. Apartment 1: 2 bedrooms, 1 bath, laundry hookups. Apartment 2: 3 bedrooms, 1 bath, laundry hookups. Whether you're looking for a turnkey investment or a property with room to expand your business ideas, this Maine gem offers excellent potential. Sq. Footage is estimated. Also listed as 1642209

18. 2025-11-19
    listed $150,000 Active 1235-char remark

    Show marketing remark (1235 chars)

    Investment Property with Mixed-Use Potential in Central Maine. Positioned in the heart of Maine, this property presents an excellent opportunity for investors or business owners seeking a flexible income producing property. The building currently operates as a redemption center and includes two residential rental units, offering multiple revenue streams. The ground level features adaptable commercial space that could continue as its current operation or be leased to another business. The property has supported a variety of commercial uses in the past, including retail and restaurant operations, demonstrating strong versatility and visibility. Located near Great Moose Lake, Route 2, and other key destinations, the property benefits from consistent local and regional traffic. Commercial Unit: Open layout suitable for retail, service, or office use. Half bath and garage. Buyer would need to verify with CEO for any future changes. Apartment 1: 2 bedrooms, 1 bath, laundry hookups. Apartment 2: 3 bedrooms, 1 bath, laundry hookups. Whether you're looking for a turnkey investment or a property with room to expand your business ideas, this Maine gem offers excellent potential. Sq. Footage is estimated. Also listed as 1642209

ⓘ 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: $31,848
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − Depreciation: −$3,782
• Taxable income: $13,088
• Est. tax owed @ 24.0%: −$3,141
• After-tax cash flow: $11,238/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate rehabilitation, focusing on exterior repairs and painting to enhance its curb appeal and value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major exterior paint — Visible peeling and fading

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair siding — Improves structural integrity and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
exterior paint · Visible peeling and fading	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair siding — Improves structural integrity and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: RSU 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Hartland

• Score: 61/100
• State rank: #120
• US rank: #18210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartland, ME
• Population (ZIP): 1,681

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 48,335 people
• By 2030: 46,268 · -4.3%
• By 2040: 41,276 · -14.6%
• By 2050: 36,137 · -25.2%
• By 2075: 26,408 · -45.4%
• By 2100: 18,836 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 8% Portuguese 7% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Somerset

• 2024 margin: Strong R (+27.1) · D 35.6% · R 62.7% · Other 1.7%
• 2008→2024 swing: -32.8pp toward R · 2008: 5.7pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+23.4 2016: R+22.8 2012: D+1.7 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.71%
• Current HPI: 230.2114
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-13.3% since first listed

2 events — show timeline

• 2026-02-23 Price Changed $130,000 MREIS
• 2025-11-19 Listed $150,000 MREIS