102 Thomas Mcclellan Rd · Farmington, ME 04938

$199,000

4 bd · 2.0 ba · 1,520 sqft · MultiFamily public records · 109 Days on market

Built 1900 Fair condition 3,920 sqft lot $131/sqft · 65% below area

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• Livability +4.0/5.0
• 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

Nice Property near town easy to walk to most locations. Washer and Dryer in entry for both units. New oil Furnace 7 years ago. Both units are kept rented. Nice porch on front of building. Metal roof recently painted in August 2022. Nice income property live in one and rent the other.

Key facts

• Ample parking
• New bathroom vanity
• New kitchen cabinets

Tags

• WELL MAINTAINED
• COMPLETELY RENOVATED
• NEW BATHROOM VANITY
• NEW KITCHEN CABINETS
• AMPLE PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 5.1% in Farmington — 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 80/100 on livability (#18 in ME, #1,653 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D-.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mt Blue Middle School (math 78% / reading 79%, grade A+, #69 of 85 statewide, top 82%, 488 students, 50% FRL); Mt Blue High School (math 87% / reading 95%, grade A+, #42 of 108 statewide, top 38%, 733 students, 45% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 114 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• At $2,956/mo this rent would consume 65% of the median local household income ($54k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Franklin County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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: 1.49% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.63%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $528,043
• List price: $199,000
• Delta: -62.31%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154 Greenwood Ave	0.52mi	3/2.0 (-1)	1,476 (-3%)	5mo	$272,000	$184	62
111 Town Farm Rd	0.14mi	4/1.0	1,700 (+12%)	11mo	$289,000	$170	61
111 Rosewood Dr	0.84mi	3/2.0 (-1)	1,568 (+3%)	3mo	$155,000	$99	52
112 Court St	0.74mi	4/2.0	1,450 (-5%)	12mo	$250,000	$172	48
252 Maple Ave	1.02mi	3/2.0 (-1)	1,636 (+8%)	3mo	$350,000	$214	45
TBD Granite Hts	1.16mi	3/2.0 (-1)	1,650 (+9%)	9mo	$400,000	$242	38
118 Corson Ln	1.37mi	3/1.0 (-1)	1,660 (+9%)	6mo	$110,000	$66	36
238 Middle St	1.19mi	3/1.0 (-1)	1,310 (-14%)	3mo	$304,000	$232	30
143 Voter Hill Rd	0.96mi	3/2.0 (-1)	1,228 (-19%)	6mo	$312,000	$254	30
233 Middle St	1.15mi	3/2.5 (-1)	1,848 (+22%)	7mo	$415,000	$225	28
121 Spruce Ln	0.68mi	3/1.0 (-1)	1,260 (-17%)	8mo	$230,000	$183	28
109 Beechwood Ln	0.87mi	3/1.5 (-1)	1,749 (+15%)	12mo	$310,000	$177	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 4.15×
• Total profit: $175,303
• Equity at exit: $179,275

10-year hold

• IRR: 35.6%
• Equity multiple: 9.32×
• Total profit: $463,579
• Equity at exit: $386,613

Cash invested: $55,720 (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 04938

• Home prices YoY: 6.4%
• Active inventory: 114
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,956 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$158 /mo · $1,894/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $1,051

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,956
Total (2 units)			$2,956

Break-even live

Break-even rent $1,626

Max offer price $199,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,164	-5% $1,107	+0% $1,051	+5% $995	+10% $938
Rent	-10% $817	-5% $934	+0% $1,051	+5% $1,168	+10% $1,284
Rate	-1.0pp $1,151	-0.5pp $1,102	base $1,051	+0.5pp $999	+1.0pp $947

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: $49,750
• Closing costs: $5,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 High St Unit Rose Room Farmington, ME	1.0	1.0	350	$1,000	$2.86	93d	1	0.66mi
114 Perham St Unit 114 Perham St, 2nd Fl Farmington, ME	2.0	1.0	1500	$2,500	$1.67	93d	1	0.73mi
126 Willow Springs Dr Farmington, ME	1.0	1.0	500	$972	$1.94	93d	1	1.41mi

Property features AI

Finance

• Financial info: Gross income reported: $31,200Operating expenses reported: $8,430Unit 1 actual rent: $1,450Unit 2 actual rent: $1,150

Exterior

• Parking: On-site gravel parking with 1–4 spaces
• Utilities: Public waterPublic sewerUtilities currently onWater heaters: oil-fired tied to heating system (off heating system)
• Home design: Multi-level buildingWood-frame construction with clapboard sidingMetal roofEntry includes porch
• Construction: Built in 1900Slab and brick/mortar foundation
• Exterior features: PorchIntown locationCorner lotLevel lot with sidewalksPaved road access

Interior

• Kitchen: Unit 1: no refrigerator providedUnit 2: refrigerator provided
• Bedrooms: Two 2-bedroom units (one on the first level, one on the second level)
• Flooring: CarpetLaminateTileVinyl
• Bathrooms: 2 full bathrooms (total for the property)
• Heating & cooling: Has heatingBaseboard heatingHot water heatZoned heatingCircuit breaker electrical panel
• Interior features: First-floor bedroomBathtub32–36 inch interior doorsDouble-pane windows with low-emissivity glassCable service available
• Laundry & utility: Coin laundry on siteDedicated water heaters for each unit

Listing history 50 events

1. 2026-08-08
   days on market $199,000 Active 109 DOM
2. 2026-08-07
   days on market $199,000 Active 108 DOM
3. 2026-08-06
   days on market $199,000 Active 107 DOM
4. 2026-08-05
   days on market $199,000 Active 106 DOM
5. 2026-08-04
   days on market $199,000 Active 105 DOM
6. 2026-08-03
   days on market $199,000 Active 104 DOM
7. 2026-07-31
   days on market $199,000 Active 101 DOM
8. 2026-07-30
   days on market $199,000 Active 100 DOM
9. 2026-07-29
   days on market $199,000 Active 99 DOM
10. 2026-07-27
    days on market $199,000 Active 97 DOM
11. 2026-07-25
    days on market $199,000 Active 95 DOM
12. 2026-07-24
    days on market $199,000 Active 94 DOM
13. 2026-07-23
    days on market $199,000 Active 93 DOM
14. 2026-07-22
    days on market $199,000 Active 92 DOM
15. 2026-07-21
    days on market $199,000 Active 91 DOM
16. 2026-07-18
    days on market $199,000 Active 88 DOM
17. 2026-07-17
    days on market $199,000 Active 86 DOM
18. 2026-07-15
    days on market $199,000 Active 85 DOM
19. 2026-07-14
    days on market $199,000 Active 84 DOM
20. 2026-07-14
    price $199,000 Active 83 DOM
21. 2026-07-13
    days on market $219,000 Active 83 DOM
22. 2026-07-12
    days on market $219,000 Active 82 DOM
23. 2026-07-12
    days on market $219,000 Active 81 DOM
24. 2026-07-10
    days on market $219,000 Active 80 DOM
25. 2026-07-09
    days on market $219,000 Active 79 DOM
26. 2026-07-08
    days on market $219,000 Active 77 DOM
27. 2026-07-06
    days on market $219,000 Active 76 DOM
28. 2026-07-05
    days on market $219,000 Active 75 DOM
29. 2026-07-04
    days on market $219,000 Active 74 DOM
30. 2026-07-03
    days on market $219,000 Active 73 DOM
31. 2026-07-03
    days on market $219,000 Active 72 DOM
32. 2026-07-01
    days on market $219,000 Active 71 DOM
33. 2026-06-30
    days on market $219,000 Active 70 DOM
34. 2026-06-29
    days on market $219,000 Active 69 DOM
35. 2026-06-28
    days on market $219,000 Active 68 DOM
36. 2026-06-27
    days on market $219,000 Active 67 DOM
37. 2026-06-26
    days on market $219,000 Active 65 DOM
38. 2026-06-22
    days on market $219,000 Active 62 DOM
39. 2026-06-21
    days on market $219,000 Active 61 DOM
40. 2026-06-21
    days on market $219,000 Active 60 DOM
41. 2026-06-18
    days on market $219,000 Active 58 DOM
42. 2026-06-17
    days on market $219,000 Active 57 DOM
43. 2026-06-16
    days on market $219,000 Active 56 DOM
44. 2026-06-15
    days on market $219,000 Active 55 DOM
45. 2026-06-13
    days on market $219,000 Active 53 DOM
46. 2026-06-12
    days on market $219,000 Active 52 DOM
47. 2026-06-09
    days on market $219,000 Active 49 DOM
48. 2026-06-08
    days on market $219,000 Active 48 DOM
49. 2026-06-07
    days on market $219,000 Active 47 DOM
50. 2026-06-07
    days on market $219,000 Active 46 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: $1,894 · $158/mo
• Projected year-2 tax: $2,300 · $192/mo
• Expected delta: +$406/yr (+$34/mo · 21.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,472
• − Mortgage interest: −$11,147
• − Property taxes: −$1,894
• − Insurance: −$995
• − Repairs & maintenance: −$2,838
• − Management: −$2,838
• − Depreciation: −$5,789
• Taxable income: $9,971
• Est. tax owed @ 24.0%: −$2,393
• After-tax cash flow: $10,218/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $38,000–$68,400 screening

This multi-family property requires moderate renovations to its exterior and interior, with fresh paint and landscaping being the highest-ROI updates for both resale and rental value.

Components & finishes AI

Roof metal · good

Deferred maintenance Est. $11,500–$36,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
• Major Exterior (exterior) — Significant wear and tear on the exterior siding and trim.

Repairs flagged

• Major exterior siding — Significant peeling and wear
• Major interior walls — Paint is chipped and worn
• Minor landscaping — Overgrown vegetation

Value-add opportunities

• Both paint exterior — Fresh paint enhances curb appeal and value ↑
• Both paint interior walls — Fresh paint improves interior aesthetics and value ↑
• Both landscaping — Well-maintained landscaping enhances curb appeal and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: RSU 09
• NCES district ID: 2314809
• Math proficiency: 78% ▲ 48.00%
• Reading proficiency: 82% ▲ 31.00%
• Median HH income: $40,202
• Composite: 66.71/100
• National rank: #409
• State rank: #88 of 112 in ME

A Composite livability gradescore 80/100

Livability — Farmington

• Score: 80/100
• State rank: #18
• US rank: #1653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington, ME
• County: Franklin · 28,948 people
• Population (ZIP): 10,368
• Household income: $54,281
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 13% of renters

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Population outlook (Franklin County) Hauer SSP2

• Today (2025): 28,948 people
• By 2030: 27,889 · -3.7%
• By 2040: 25,275 · -12.7%
• By 2050: 22,770 · -21.3%
• By 2075: 18,980 · -34.4%
• By 2100: 16,816 · -41.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Italian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

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Political lean MEDSL · Franklin

• 2024 margin: Lean R (+8.2) · D 44.8% · R 53.0% · Other 2.2%
• 2008→2024 swing: -28.5pp toward R · 2008: 20.3pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+3.9 2016: R+5.5 2012: D+18.5 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.53%
• Current HPI: 325.7666
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Property features AI

Finance

• Financial info: Gross income reported: $31,200Operating expenses reported: $8,430Unit 1 actual rent: $1,450Unit 2 actual rent: $1,150

Exterior

• Parking: On-site gravel parking with 1–4 spaces
• Utilities: Public waterPublic sewerUtilities currently onWater heaters: oil-fired tied to heating system (off heating system)
• Home design: Multi-level buildingWood-frame construction with clapboard sidingMetal roofEntry includes porch
• Construction: Built in 1900Slab and brick/mortar foundation
• Exterior features: PorchIntown locationCorner lotLevel lot with sidewalksPaved road access

Interior

• Kitchen: Unit 1: no refrigerator providedUnit 2: refrigerator provided
• Bedrooms: Two 2-bedroom units (one on the first level, one on the second level)
• Flooring: CarpetLaminateTileVinyl
• Bathrooms: 2 full bathrooms (total for the property)
• Heating & cooling: Has heatingBaseboard heatingHot water heatZoned heatingCircuit breaker electrical panel
• Interior features: First-floor bedroomBathtub32–36 inch interior doorsDouble-pane windows with low-emissivity glassCable service available
• Laundry & utility: Coin laundry on siteDedicated water heaters for each unit

Price history

+82.5% since first listed

16 events — show timeline

• 2026-05-22 Price Changed $219,000 MREIS
• 2026-04-21 Listed $229,000 MREIS
• 2022-10-25 Delisted — MREIS
• 2022-10-24 Sold (MLS) $174,700 MREIS
• 2022-09-21 Pending — MREIS
• 2022-09-17 Price Changed $174,600 MREIS
• 2022-08-28 Listed $274,600 MREIS
• 2022-06-24 Delisted — MREIS
• 2022-03-30 Price Changed $179,000 MREIS
• 2022-03-30 Relisted — MREIS
• 2022-03-16 Pending — MREIS
• 2021-11-06 Price Changed $159,000 MREIS
• 2021-09-27 Price Changed $169,000 MREIS
• 2021-06-23 Listed $179,000 MREIS
• 2008-04-14 Listed $120,000 MREIS
• 2007-12-27 Listed $120,000 MREIS

Property tax history

+4.0%/yr

Latest (2025): $1,894 · +17.6% YoY. Source: county tax records.