6 Sherman St · Island Falls, ME 04747

$99,000

5 bd · 2.0 ba · 2,640 sqft · MultiFamily public records · 114 Days on market

Built 1940 4,356 sqft lot $38/sqft · 27% above area ↓ 33% since listing

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Why this score? — see what drove the B+ 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
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +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

Great property , sound bones, lots of new windows, 10 room house with 5 bedrooms, 2 bathrooms!! West Branch of Mattawamkeag River which goes to Mattamwamkeag Lake. Go kayaking, fishing, and Atving, Right now the sleds are right there , the trail is right there !! The property needs some TLC to update , but it is totally livable to remodel it!! 2 families could easily live here . So Island falls has 2 lakes, few rivers , tons of placing to enjoy recreationally !! Tons to do outdoors !! 1 hours to Bangor, 27 miles to Houlton / Canada . Baxter Park for trails to hike Mt Katahdin or Katahdin Woods and Waters . So in Island Falls we can Atving, Snowmobiling from the house, fish, 2 Lakes, rivers , hunting, or just watch wildlife you will love the area. Walk to Post office, bank and a store, and restaurants from the area or go the pond in Island Falls , 2 restaurants, golf, public access to both lakes and Vacationland Estate. Come enjoy Maine !!

Key facts

• 4,356 sq ft lot
• Parking
• Built 1940

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• RSU 50 (rural): math 30% / reading 55% proficiency, ranked #103 of 185 in ME (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($684 loan paydown + $4k appreciation (4.4% local appreciation)).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.55% ✓
• Cap rate: 13.07%
• Cash-on-cash: 24.21%
• DSCR: 2.08
• GRM: 5.4

CMA / ARV

• ARV (median comp): $63,744
• List price: $99,000
• Delta: 55.31%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

4.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 2.98×
• Total profit: $55,015
• Equity at exit: $52,451

10-year hold

• IRR: 31.9%
• Equity multiple: 5.95×
• Total profit: $137,285
• Equity at exit: $87,640

Cash invested: $27,720 (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 04747

• Home prices YoY: 2.6%
• Active inventory: 29
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,538 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$95 /mo · $1,141/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $559

Break-even live

Break-even rent $830

Max offer price $99,000

Occupancy floor 59%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $99,000 Active 114 DOM
2. 2026-06-17
   days on market $99,000 Active 113 DOM
3. 2026-06-16
   days on market $99,000 Active 112 DOM
4. 2026-06-15
   days on market $99,000 Active 111 DOM
5. 2026-06-13
   days on market $99,000 Active 109 DOM
6. 2026-06-12
   days on market $99,000 Active 108 DOM
7. 2026-06-09
   days on market $99,000 Active 105 DOM
8. 2026-06-08
   days on market $99,000 Active 104 DOM
9. 2026-06-07
   pricedays on market $99,000 Active 103 DOM
10. 2026-06-05
    days on market $104,000 Active 101 DOM
11. 2026-06-04
    days on market $104,000 Active 99 DOM
12. 2026-06-02
    days on market $104,000 Active 98 DOM
13. 2026-06-01
    days on market $104,000 Active 97 DOM
14. 2026-05-31
    days on market $104,000 Active 96 DOM
15. 2026-05-31
    days on market $104,000 Active 95 DOM
16. 2026-02-24
    listed $110,000 Active 952-char remark

    Show marketing remark (952 chars)

    Great property , sound bones, lots of new windows, 10 room house with 5 bedrooms, 2 bathrooms!! West Branch of Mattawamkeag River which goes to Mattamwamkeag Lake. Go kayaking, fishing, and Atving, Right now the sleds are right there , the trail is right there !! The property needs some TLC to update , but it is totally livable to remodel it!! 2 families could easily live here . So Island falls has 2 lakes, few rivers , tons of placing to enjoy recreationally !! Tons to do outdoors !! 1 hours to Bangor, 27 miles to Houlton / Canada . Baxter Park for trails to hike Mt Katahdin or Katahdin Woods and Waters . So in Island Falls we can Atving, Snowmobiling from the house, fish, 2 Lakes, rivers , hunting, or just watch wildlife you will love the area. Walk to Post office, bank and a store, and restaurants from the area or go the pond in Island Falls , 2 restaurants, golf, public access to both lakes and Vacationland Estate. Come enjoy Maine !!

17. 2025-08-21
    price $165,000

ⓘ 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: $1,141 · $95/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$103/yr (+$9/mo · 9.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $18,453
• − Mortgage interest: −$5,546
• − Property taxes: −$1,141
• − Insurance: −$495
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − Depreciation: −$2,880
• Taxable income: $5,439
• Est. tax owed @ 24.0%: −$1,305
• After-tax cash flow: $5,407/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 50
• NCES district ID: 2314806
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $36,091
• Composite: 37.51/100
• National rank: #8882
• State rank: #103 of 185 in ME

Livability — Island Falls

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Island Falls, ME
• Population (ZIP): 1,318

Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Native American 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Slovak 12% Lithuanian 10% Polish 5%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Chinese 2% German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.39%
• Current HPI: 170.9479
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-33.3% since first listed

2 events — show timeline

• 2026-02-24 Listed $110,000 MREIS
• 2025-08-21 Price Changed $165,000 MREIS

Property tax history

+2.1%/yr

Latest (2025): $1,141 · -13.3% YoY. Source: county tax records.