283 Weeks Mills Rd · Augusta, ME 04358

$269,000

3 bd · 1.0 ba · 1,056 sqft · Other public records · 191 Days on market

Built 2022 2.00 ac lot ↓ 7% since listing

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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 +7.5/15.0
• Schools +7.5/10.0
• Cash flow +4.4/30.0
• Livability +4.0/5.0
• 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

Newer 3 bedroom home sits perfectly on this sunny 2 acre parcel. This home needs nothing. With plenty of space for gardens and flower beds the sky's the limit! Move in ready, with an oversized dining area and living room makes this home ideal for entertaining and family gatherings. Just a quick drive to local grocery stores, library and post office. A new home with an excellent location, book a showing before it's gone!

Key facts

• Excellent location
• Sunny 2 acre parcel
• 2 acre lot

Tags

• SUNNY 2 ACRE PARCEL
• OVERSIZED DINING AREA
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $269k.

Deal economics

• At list price, monthly cash flow is $-707 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (46.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (56.1% below list).
• Recommended offer: $118k (56.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#15 in ME, #1,476 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D-, employment F.
• RSU 18 (rural): math 88% / reading 89% proficiency, ranked #36 of 112 in ME (top 32%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 38 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $117,969 (56.1% 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 191 days. Have you received any prior offers? Is the seller open to a 56% concession, seller financing, or rate buy-down credit?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.44% ✗
• Cap rate: 3.14%
• Cash-on-cash: -11.26%
• DSCR: 0.50
• GRM: 19.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.4%
• Equity multiple: 2.35×
• Total profit: $101,355
• Equity at exit: $242,337

10-year hold

• IRR: 15.7%
• Equity multiple: 5.43×
• Total profit: $333,654
• Equity at exit: $522,608

Cash invested: $75,320 (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 04358

• Home prices YoY: 11.6%
• Active inventory: 38
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$116 /mo · $1,395/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $-707

Break-even live

Break-even rent $2,075

Max offer price $144,098

Occupancy floor —

Sensitivity live

Price	-10% $-555	-5% $-631	+0% $-707	+5% $-783	+10% $-859
Rent	-10% $-800	-5% $-754	+0% $-707	+5% $-660	+10% $-614
Rate	-1.0pp $-572	-0.5pp $-639	base $-707	+0.5pp $-777	+1.0pp $-848

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-23
   status Pending
2. 2026-03-15
   status Active
3. 2026-02-28
   status Pending
4. 2025-12-19
   status Active
5. 2025-12-16
   historical Active Under Contract
6. 2025-11-20
   price $269,000
7. 2025-10-15
   price $279,000
8. 2025-09-30
   listed $289,000 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: $1,395 · $116/mo
• Projected year-2 tax: $2,527 · $211/mo
• Expected delta: +$1,132/yr (+$94/mo · 81.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $14,156
• − Mortgage interest: −$15,068
• − Property taxes: −$1,395
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$7,825
• Taxable loss: −$13,742
• Est. tax savings @ 24.0%: +$3,298
• After-tax cash flow: $-5,186/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 18
• NCES district ID: 2314779
• Math proficiency: 88% ▲ 53.00%
• Reading proficiency: 89% ▲ 32.00%
• Median HH income: $55,125
• Composite: 75.2/100
• National rank: #139
• State rank: #36 of 112 in ME

Livability — Augusta

• Score: 81/100
• State rank: #15
• US rank: #1476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 26,690
• Population (ZIP): 4,475

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 23% Romanian 3% Slovak 2%
• Foreign-born: 1% · South Korea, Canada
• Languages at home: 98% English-only · Korean 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.91%
• Current HPI: 383.0046
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-6.9% since first listed

8 events — show timeline

• 2026-04-23 Pending — MREIS
• 2026-03-15 Relisted — MREIS
• 2026-02-28 Pending — MREIS
• 2025-12-19 Relisted — MREIS
• 2025-12-16 Contingent — MREIS
• 2025-11-20 Price Changed $269,000 MREIS
• 2025-10-15 Price Changed $279,000 MREIS
• 2025-09-30 Listed $289,000 MREIS

Property tax history

+49.1%/yr

Latest (2025): $1,395 · +0.0% YoY. Source: county tax records.