198 High St · Caribou, ME 04736

$94,500

2 bd · 1.5 ba · 750 sqft · SingleFamily public records · 305 Days on market

Built 1920 9,147 sqft lot $126/sqft · at area comps Est $136k · 31% under ↓ 24% since listing

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +6.9/10.0
• 1% rule +4.3/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This property is conveniently located and the lot is easy to get in or out of the driveway as the deep yard offers plenty of room to turn around by the newer, 2015 garage. The great room off of the kitchen is long (19 feet!), so it can easily manage dining and living areas or an office & laundry center with a little work to relocate the laundry. Another idea for this space is a first floor primary bedroom & bath. With the spacious floor plan, you decide the layout! The kitchen and flooring were updated in 2012, allowing you to focus on other projects. The front porch is deep, you could easily sit and sip while enjoying the scenic view of Fort Hill! Handy to stores, the Caribou Wellness/Recreation Center, Cary Medical Center, or schools. The tin ceilings, historic stair handrail, and original trim create character and charm through the home. An unheated mudroom/entry off the back of the kitchen makes for great coat/boot storage and easy access from the garage into the home. This affordable home will currently qualify for cash, some conventional loans, or construction loan due to a foundation wall that needs to be addressed (estimate posted in the Documents Section) as well as some window replacements, a bit of drywall touch-up, and shoring of front porch. This property would make a great fix & flip or fix & rent home, since the price is starting out so reasonably. Don't miss this easy one! * NOTE - some photos have been virtually staged/renovated to showcase this home's potential. Photos are labeled accordingly.

Key facts

• Tin ceilings
• Newer built garage
• In-town location

Tags

• WRAP-AROUND PORCH
• COUNTRY VIEWS
• NEWER BUILT GARAGE
• IN-TOWN LOCATION
• TIN CEILINGS
• HISTORIC STAIR HANDRAIL

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $-6 ($-68/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (7.3% below list).
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.5% in Caribou — 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 74/100 on livability (#46 in ME, #4,849 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D, amenities F.
• RSU 39 (town): math 82% / reading 83% proficiency, ranked #79 of 112 in ME (top 70%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 83 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 305 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,160 (12.0% 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 305 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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 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: 0.93% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 9.0

CMA / ARV

• ARV (median comp): $136,356
• List price: $94,500
• Delta: -30.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 S Park St	0.07mi	2/2.0	800 (+7%)	8mo	$70,000	$88	76
5 Veronica St	0.13mi	2/1.0	684 (-9%)	9mo	$60,000	$88	70
11 Hillcrest Ave	0.28mi	2/1.0	736 (-2%)	22mo	$71,000	$96	64
181 Limestone St	0.45mi	2/1.0	816 (+9%)	6mo	$58,000	$71	57
29 Glendale Rd	0.38mi	2/1.0	788 (+5%)	18mo	$150,000	$190	57
26 Hammond St	0.26mi	3/1.0 (+1)	840 (+12%)	12mo	$98,000	$117	51
40 Westwind Dr	0.50mi	2/1.0	828 (+10%)	21mo	$152,500	$184	40
10 Patten St	0.65mi	2/1.0	844 (+12%)	12mo	$65,000	$77	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-15,631
• Equity at exit: $14,090

10-year hold

• IRR: -8.4%
• Equity multiple: 0.47×
• Total profit: $-13,908
• Equity at exit: $8,171

Cash invested: $26,460 (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 04736

• Home prices YoY: -18.6%
• Active inventory: 83
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $876 medium
• Mortgage (P&I): −$496
• Tax from tax record: −$163 /mo · $1,956/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-6

Break-even live

Break-even rent $883

Max offer price $93,505

Occupancy floor 96%

Sensitivity live

Price	-10% $48	-5% $21	+0% $-6	+5% $-32	+10% $-59
Rent	-10% $-75	-5% $-40	+0% $-6	+5% $29	+10% $64
Rate	-1.0pp $42	-0.5pp $18	base $-6	+0.5pp $-30	+1.0pp $-55

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $94,500 Active 305 DOM
2. 2026-06-18
   days on market $94,500 Active 303 DOM
3. 2026-06-17
   days on market $94,500 Active 302 DOM
4. 2026-06-16
   days on market $94,500 Active 301 DOM
5. 2026-06-15
   days on market $94,500 Active 300 DOM
6. 2026-06-13
   days on market $94,500 Active 298 DOM
7. 2026-06-12
   days on market $94,500 Active 297 DOM
8. 2026-06-09
   days on market $94,500 Active 294 DOM
9. 2026-06-09
   price $94,500 Active 293 DOM
10. 2026-06-08
    days on market $74,900 Active 293 DOM
11. 2026-06-07
    days on market $74,900 Active 292 DOM
12. 2026-06-07
    days on market $74,900 Active 291 DOM
13. 2026-06-04
    days on market $74,900 Active 288 DOM
14. 2026-06-02
    days on market $74,900 Active 287 DOM
15. 2026-06-01
    days on market $74,900 Active 286 DOM
16. 2026-05-31
    days on market $74,900 Active 285 DOM
17. 2026-05-31
    days on market $74,900 Active 284 DOM
18. 2026-03-16
    price $74,900 1593-char remark

    Show marketing remark (1593 chars)

    Great investment opportunity! This property is conveniently located and the lot is easy to get in or out of the driveway as the deep yard offers plenty of room to turn around by the newer, 2015 garage. The great room off of the kitchen is long (19 feet!), so it can easily manage dining and living areas or an office & laundry center with a little work to relocate the laundry. Another idea for this space is a first floor primary bedroom & bath. With the spacious floor plan, you decide the layout! The kitchen and flooring were updated in 2012, allowing you to focus on other projects. The front porch is deep, you could easily sit and sip while enjoying the scenic view of Fort Hill! Handy to stores, the Caribou Wellness/Recreation Center, Cary Medical Center, or schools. The tin ceilings, historic stair handrail, and original trim create character and charm through the home. An unheated mudroom/entry off the back of the kitchen makes for great coat/boot storage and easy access from the garage into the home. This affordable home will currently qualify for cash, some conventional loans, or construction loan due to a foundation wall that needs to be addressed (estimate posted in the Documents Section) as well as some window replacements, a bit of drywall touch-up, and shoring of front porch. This property would make a great fix & flip or fix & rent home, since the price is starting out so reasonably. Don't miss this easy one! * NOTE - some photos have been virtually staged/renovated to showcase this home's potential. Photos are labeled accordingly.

19. 2026-01-14
    price $79,900 1593-char remark

    Show marketing remark (1593 chars)

    Great investment opportunity! This property is conveniently located and the lot is easy to get in or out of the driveway as the deep yard offers plenty of room to turn around by the newer, 2015 garage. The great room off of the kitchen is long (19 feet!), so it can easily manage dining and living areas or an office & laundry center with a little work to relocate the laundry. Another idea for this space is a first floor primary bedroom & bath. With the spacious floor plan, you decide the layout! The kitchen and flooring were updated in 2012, allowing you to focus on other projects. The front porch is deep, you could easily sit and sip while enjoying the scenic view of Fort Hill! Handy to stores, the Caribou Wellness/Recreation Center, Cary Medical Center, or schools. The tin ceilings, historic stair handrail, and original trim create character and charm through the home. An unheated mudroom/entry off the back of the kitchen makes for great coat/boot storage and easy access from the garage into the home. This affordable home will currently qualify for cash, some conventional loans, or construction loan due to a foundation wall that needs to be addressed (estimate posted in the Documents Section) as well as some window replacements, a bit of drywall touch-up, and shoring of front porch. This property would make a great fix & flip or fix & rent home, since the price is starting out so reasonably. Don't miss this easy one! * NOTE - some photos have been virtually staged/renovated to showcase this home's potential. Photos are labeled accordingly.

20. 2025-10-10
    price $89,900 1593-char remark

    Show marketing remark (1593 chars)

    Great investment opportunity! This property is conveniently located and the lot is easy to get in or out of the driveway as the deep yard offers plenty of room to turn around by the newer, 2015 garage. The great room off of the kitchen is long (19 feet!), so it can easily manage dining and living areas or an office & laundry center with a little work to relocate the laundry. Another idea for this space is a first floor primary bedroom & bath. With the spacious floor plan, you decide the layout! The kitchen and flooring were updated in 2012, allowing you to focus on other projects. The front porch is deep, you could easily sit and sip while enjoying the scenic view of Fort Hill! Handy to stores, the Caribou Wellness/Recreation Center, Cary Medical Center, or schools. The tin ceilings, historic stair handrail, and original trim create character and charm through the home. An unheated mudroom/entry off the back of the kitchen makes for great coat/boot storage and easy access from the garage into the home. This affordable home will currently qualify for cash, some conventional loans, or construction loan due to a foundation wall that needs to be addressed (estimate posted in the Documents Section) as well as some window replacements, a bit of drywall touch-up, and shoring of front porch. This property would make a great fix & flip or fix & rent home, since the price is starting out so reasonably. Don't miss this easy one! * NOTE - some photos have been virtually staged/renovated to showcase this home's potential. Photos are labeled accordingly.

21. 2025-08-19
    listed $99,000 Active 1593-char remark

    Show marketing remark (1593 chars)

    Great investment opportunity! This property is conveniently located and the lot is easy to get in or out of the driveway as the deep yard offers plenty of room to turn around by the newer, 2015 garage. The great room off of the kitchen is long (19 feet!), so it can easily manage dining and living areas or an office & laundry center with a little work to relocate the laundry. Another idea for this space is a first floor primary bedroom & bath. With the spacious floor plan, you decide the layout! The kitchen and flooring were updated in 2012, allowing you to focus on other projects. The front porch is deep, you could easily sit and sip while enjoying the scenic view of Fort Hill! Handy to stores, the Caribou Wellness/Recreation Center, Cary Medical Center, or schools. The tin ceilings, historic stair handrail, and original trim create character and charm through the home. An unheated mudroom/entry off the back of the kitchen makes for great coat/boot storage and easy access from the garage into the home. This affordable home will currently qualify for cash, some conventional loans, or construction loan due to a foundation wall that needs to be addressed (estimate posted in the Documents Section) as well as some window replacements, a bit of drywall touch-up, and shoring of front porch. This property would make a great fix & flip or fix & rent home, since the price is starting out so reasonably. Don't miss this easy one! * NOTE - some photos have been virtually staged/renovated to showcase this home's potential. Photos are labeled accordingly.

ⓘ 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: $1,956 · $163/mo
• Projected year-2 tax: $1,956 · $163/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $10,516
• − Mortgage interest: −$5,293
• − Property taxes: −$1,956
• − Insurance: −$472
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$2,749
• Taxable loss: −$1,638
• Est. tax savings @ 24.0%: +$393
• After-tax cash flow: $325/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 39
• NCES district ID: 2314794
• Math proficiency: 82% ▲ 55.00%
• Reading proficiency: 83% ▲ 39.00%
• Median HH income: $38,159
• Composite: 68.6/100
• National rank: #341
• State rank: #79 of 112 in ME

Livability — Caribou

• Score: 74/100
• State rank: #46
• US rank: #4849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caribou, ME
• City population: 9,107
• Population (ZIP): 9,107

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 (93%)
• Race & ethnicity: White 93% Two or more races 5%
• Common ancestry: Lithuanian 28% Slovak 3% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 7%

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: ▼ -50.06%
• Current HPI: 219.5142
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-24.3% since first listed

4 events — show timeline

• 2026-03-16 Price Changed $74,900 MREIS
• 2026-01-14 Price Changed $79,900 MREIS
• 2025-10-10 Price Changed $89,900 MREIS
• 2025-08-19 Listed $99,000 MREIS

Property tax history

+5.1%/yr

Latest (2024): $1,956 · +9.8% YoY. Source: county tax records.