17 Walker Rd · Mechanic Falls, ME 04256

$299,900

4 bd · 4.0 ba · 768 sqft · Other public records · 137 Days on market

Built 1820 8.02 ac lot $390/sqft · 241% above area Est $315k · at est.

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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 +9.7/15.0
• Schools +6.9/10.0
• Cash flow +4.2/30.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Fixer-Upper Opportunity in Mechanic Falls -- Minutes from Auburn! Discover the potential of this solid home with excellent bones and 8 acres in a sought-after Mechanic Falls neighborhood, just a quick drive to Auburn and its many amenities. This property offers a blank canvas for your imagination and vision. With a strong structural foundation already in place, you can create your dream home, a cozy weekend getaway, or a smart rental investment -- the options are limitless! Detached Four-Car Garage -- Generous space for vehicles, tools, and projects. Approved three-bedroom septic design, also listed for sale with 1.5 acres.

Key facts

• 8 acres
• 8.02 acre lot
• 2 garage spots

Tags

• 8 ACRES
• STRONG STRUCTURAL FOUNDATION
• DETACHED FOUR-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath other listed at $300k.

Deal economics

• At list price, monthly cash flow is $-808 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (47.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (52.0% below list).
• Recommended offer: $144k (52.0% below list) — sets the bar for 1% rule.
• Cap rate 3.1% vs local median 2.4% in Mechanic Falls — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#78 in ME) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• RSU 16 (rural): math 79% / reading 83% proficiency, ranked #73 of 112 in ME (top 65%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Elm Street School-Mechanic Falls (math 72% / reading 77%, grade A, #228 of 294 statewide, top 84%, 245 students, 41% FRL); Bruce M Whittier Middle School (math 81% / reading 84%, grade A+, #51 of 85 statewide, top 61%, 281 students, 36% FRL); Poland Regional H S (math 87% / reading 87%, grade A, #66 of 108 statewide, top 68%, 535 students, 30% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: 21 active listings in the ZIP; 358 units permitted in Androscoggin County in 2024 (57 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Androscoggin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1820 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,878 (52.0% 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 137 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
3. Built in 1820 — 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. 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?
8. 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.
9. 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.
10. 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: 0.48% ✗
• Cap rate: 3.06%
• Cash-on-cash: -11.55%
• DSCR: 0.49
• GRM: 17.4

CMA / ARV

• ARV (median comp): $315,443
• List price: $299,900
• Delta: -4.93%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $111,813
• Equity at exit: $270,174

10-year hold

• IRR: 15.5%
• Equity multiple: 5.40×
• Total profit: $369,628
• Equity at exit: $582,640

Cash invested: $83,972 (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 04256

• Home prices YoY: 4.0%
• Active inventory: 21
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $1,439 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$247 /mo · $2,964/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-808

Break-even live

Break-even rent $2,462

Max offer price $157,158

Occupancy floor —

Sensitivity live

Price	-10% $-638	-5% $-723	+0% $-808	+5% $-893	+10% $-978
Rent	-10% $-922	-5% $-865	+0% $-808	+5% $-751	+10% $-694
Rate	-1.0pp $-657	-0.5pp $-732	base $-808	+0.5pp $-886	+1.0pp $-965

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $299,900 Active 137 DOM
2. 2026-06-19
   days on market $299,900 Active 134 DOM
3. 2026-06-18
   days on market $299,900 Active 133 DOM
4. 2026-06-17
   days on market $299,900 Active 132 DOM
5. 2026-06-16
   days on market $299,900 Active 131 DOM
6. 2026-06-15
   days on market $299,900 Active 130 DOM
7. 2026-06-14
   days on market $299,900 Active 128 DOM
8. 2026-06-13
   days on market $299,900 Active 127 DOM
9. 2026-06-10
   days on market $299,900 Active 125 DOM
10. 2026-06-09
    days on market $299,900 Active 124 DOM
11. 2026-06-08
    days on market $299,900 Active 123 DOM
12. 2026-06-07
    days on market $299,900 Active 122 DOM
13. 2026-06-05
    days on market $299,900 Active 119 DOM
14. 2026-06-02
    days on market $299,900 Active 117 DOM
15. 2026-06-01
    days on market $299,900 Active 116 DOM
16. 2026-05-31
    days on market $299,900 Active 115 DOM
17. 2026-05-30
    days on market $299,900 Active 114 DOM
18. 2026-02-05
    listed $299,900 Active 631-char remark

    Show marketing remark (631 chars)

    Fixer-Upper Opportunity in Mechanic Falls -- Minutes from Auburn! Discover the potential of this solid home with excellent bones and 8 acres in a sought-after Mechanic Falls neighborhood, just a quick drive to Auburn and its many amenities. This property offers a blank canvas for your imagination and vision. With a strong structural foundation already in place, you can create your dream home, a cozy weekend getaway, or a smart rental investment -- the options are limitless! Detached Four-Car Garage -- Generous space for vehicles, tools, and projects. Approved three-bedroom septic design, also listed for sale with 1.5 acres.

19. 2025-12-23
    listed $199,900 Active 645-char remark

    Show marketing remark (645 chars)

    Fixer-Upper Opportunity in Mechanic Falls — Just Minutes from Auburn! Unlock the potential of this solid shell with great bones in a desirable Mechanic Falls location, just a short drive to Auburn and all the amenities you love. This property is a blank canvas ready for your creativity and vision. With a sturdy structural framework already in place, you can transform this space into your dream home, a weekend retreat, or a rental investment — the possibilities are endless! Detached Four-Car Garage — Spacious garage with ample room for vehicles, tools, and projects. Three-bedroom septic design. Additional land available!

ⓘ 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: $2,964 · $247/mo
• Projected year-2 tax: $3,521 · $293/mo
• Expected delta: +$557/yr (+$46/mo · 18.8%)

ⓘ 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 ≥92°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,265
• − Mortgage interest: −$16,799
• − Property taxes: −$2,964
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$8,724
• Taxable loss: −$15,484
• Est. tax savings @ 24.0%: +$3,716
• After-tax cash flow: $-5,980/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 16
• NCES district ID: 2314775
• Math proficiency: 79% ▲ 40.00%
• Reading proficiency: 83% ▲ 29.00%
• Median HH income: $58,651
• Composite: 69.31/100
• National rank: #315
• State rank: #73 of 112 in ME

Livability — Mechanic Falls

• Score: 69/100
• State rank: #78
• US rank: #8822

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: Mechanic Falls, ME
• Population (ZIP): 3,108

Population outlook (Androscoggin County) Hauer SSP2

• Today (2025): 103,965 people
• By 2030: 101,004 · -2.8%
• By 2040: 93,218 · -10.3%
• By 2050: 84,222 · -19.0%
• By 2075: 63,391 · -39.0%
• By 2100: 43,273 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 16% Black 4% Asian 2%
• Common ancestry: Lithuanian 5% Slovak 3% Romanian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 98% English-only · Chinese 2%

Political lean MEDSL · Androscoggin

• 2024 margin: Lean R (+6.1) · D 45.9% · R 52.0% · Other 2.1%
• 2008→2024 swing: -21.3pp toward R · 2008: 15.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+2.8 2016: R+9.4 2012: D+12.8 2008: D+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.44%
• Current HPI: 327.6966
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+50.0% since first listed

2 events — show timeline

• 2026-02-05 Listed $299,900 MREIS
• 2025-12-23 Listed $199,900 MREIS

Property tax history

-3.2%/yr

Latest (2025): $2,964 · -3.3% YoY. Source: county tax records.