1717 Canaan Rd · Hartland, ME 04943

$145,000

2 bd · 1.0 ba · 1,336 sqft · MultiFamily · 1 Days on market

Built 1946 0.91 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

No money down to qualified buyers, low monthly payments, low taxes & inexpensive to heat. Cozy inviting home w/ loft & guest house & plenty of storage. Buy now & make lower payments than rent. Well kept & move in ready. Lakes nearby. Must see.

Key facts

• 0.91 acre lot
• 5 parking spots
• Built 1946

Property features AI

Exterior

• Parking: Off-street parking for 5–10 vehicles; No garage
• Utilities: Circuit breaker electrical service; Private water; Private sewer
• Home design: Cape Cod / Dutch Colonial style; Single-family residence; One to two stories (Cape/Dutch Colonial configuration)
• Construction: Shingle roof
• Exterior features: Front porch; Outbuilding on the property; Trees/woods view

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Primary bedroom on the first floor; Second-floor bedroom with skylight
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $887 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 13.6% vs local median 4.3% 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 $11k of equity ($1k loan paydown + $10k 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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y ago 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.
• Current owner paid $86k; list at $145k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.20%
• DSCR: 2.17
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 38.7%
• Equity multiple: 3.58×
• Total profit: $104,554
• Equity at exit: $97,765

10-year hold

• IRR: 35.4%
• Equity multiple: 7.45×
• Total profit: $261,981
• Equity at exit: $183,301

Cash invested: $40,600 (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: 10.3×

Monthly cashflow live

• Estimated rent: $2,338 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $887

Break-even live

Break-even rent $1,216

Max offer price $145,000

Occupancy floor 57%

Sensitivity live

Price	-10% $969	-5% $928	+0% $887	+5% $846	+10% $804
Rent	-10% $702	-5% $794	+0% $887	+5% $979	+10% $1,071
Rate	-1.0pp $960	-0.5pp $923	base $887	+0.5pp $849	+1.0pp $811

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,338
Total (2 units)			$2,338

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-07
   status Pending
2. 2026-05-06
   listed $145,000 Active
3. 2014-10-31
   soldstatus $86,500 273-char remark

   Show marketing remark (273 chars)

   No money down to qualified buyers, low monthly payments, low taxes & inexpensive to heat. Cozy inviting home w/ loft & guest house & plenty of storage. Buy now & make lower payments than rent. Well kept & move in ready. Lakes nearby. Must see.

4. 2014-03-24
   listed $94,900

ⓘ 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: $1,676 · $140/mo
• Projected year-2 tax: $1,824 · $152/mo
• Expected delta: +$148/yr (+$12/mo · 8.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,056
• − Mortgage interest: −$8,122
• − Property taxes: −$1,676
• − Insurance: −$725
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$4,218
• Taxable income: $8,826
• Est. tax owed @ 24.0%: −$2,118
• After-tax cash flow: $8,520/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 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

• 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

+52.8% since first listed

4 events — show timeline

• 2026-05-07 Pending — MREIS
• 2026-05-06 Listed $145,000 MREIS
• 2014-10-31 Sold (MLS) $86,500 MREIS
• 2014-03-24 Listed $94,900 MREIS

Property tax history

+1.5%/yr

Latest (2025): $1,676 · +7.2% YoY. Source: county tax records.