486 North St · Sherman, ME 04776

$59,000

2 bd · 1.5 ba · 1,100 sqft · Other · 92 Days on market

0.28 ac lot

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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 +7.4/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Nice little home used for a camp with 2 Bedrooms. Bath and a half, nice porch, Camp since 2007, Shed used for ATV . 32 miles to Houlton and Canada. Fish, Snowsled, Atving, Goto Baxter Park or Katahdin Woods and Waters, Mt. Views down the road , Lakes with 10 miles . Great place to relax

Key facts

• Shed used for atv
• Goto baxter park
• 32 miles to houlton

Tags

• SHED USED FOR ATV
• 32 MILES TO HOULTON
• GOTO BAXTER PARK
• KATAHDIN WOODS AND WATERS
• MT VIEWS
• LAKES WITHIN 10 MILES

Property features AI

Exterior

• Parking: 1–4 parking spaces on gravel
• Utilities: Private water; Private sewer; Electric with circuit breakers; Electric water heater
• Home design: Single family residence; Entry on first level
• Construction: Vinyl siding with wood frame construction; Metal roof; Built year listed as 999
• Exterior features: Porch with screened area; Pasture/field and open, level yard; Near town in a rural setting

Interior

• Kitchen: Refrigerator; Microwave
• Bedrooms: Bedroom 1 on second level; Bedroom 2 on second level
• Flooring: Wood flooring; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Direct vent heater
• Interior features: Shower; Partially furnished; Full interior-access basement with dirt floor and sump pump; 5 total rooms
• Laundry & utility: Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $54k (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 89 (rural): math 30% / reading 45% proficiency, ranked #136 of 185 in ME (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 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 $3k of equity ($408 loan paydown + $3k appreciation (4.7% 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 (4.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, 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 92 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Recommended offer $53,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.87% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.61%
• DSCR: 2.50
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.1%
• Equity multiple: 3.55×
• Total profit: $42,158
• Equity at exit: $32,450

10-year hold

• IRR: 40.3%
• Equity multiple: 7.20×
• Total profit: $102,463
• Equity at exit: $55,206

Cash invested: $16,520 (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 04776

• Home prices YoY: 2.9%
• Active inventory: 16
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$74 /mo · $891/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $463

Break-even live

Break-even rent $517

Max offer price $59,000

Occupancy floor 53%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $59,000 Active 92 DOM
2. 2026-06-17
   days on market $59,000 Active 91 DOM
3. 2026-06-16
   days on market $59,000 Active 90 DOM
4. 2026-06-15
   days on market $59,000 Active 89 DOM
5. 2026-06-13
   days on market $59,000 Active 87 DOM
6. 2026-06-12
   days on market $59,000 Active 86 DOM
7. 2026-06-09
   days on market $59,000 Active 83 DOM
8. 2026-06-08
   days on market $59,000 Active 82 DOM
9. 2026-06-07
   days on market $59,000 Active 81 DOM
10. 2026-06-05
    days on market $59,000 Active 79 DOM
11. 2026-06-04
    days on market $59,000 Active 77 DOM
12. 2026-06-02
    days on market $59,000 Active 76 DOM
13. 2026-06-01
    days on market $59,000 Active 75 DOM
14. 2026-05-31
    days on market $59,000 Active 74 DOM
15. 2026-05-31
    days on market $59,000 Active 73 DOM
16. 2026-03-18
    listed $59,000 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: $891 · $74/mo
• Projected year-2 tax: $891 · $74/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $13,229
• − Mortgage interest: −$3,305
• − Property taxes: −$891
• − Insurance: −$295
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$1,716
• Taxable income: $4,905
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $4,375/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 89
• NCES district ID: 2314838
• Math proficiency: 30% —
• Reading proficiency: 45% —
• Median HH income: $36,317
• Composite: 33.62/100
• National rank: #10477
• State rank: #136 of 185 in ME

Livability — Sherman

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

Census & demographics

• Population (ZIP): 886

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 (97%)
• Race & ethnicity: White 97% Two or more races 1%
• Common ancestry: Polish 11% Lithuanian 10% German 1%
• Foreign-born: 2% · Canada
• Languages at home: 76% English-only · German/W. Germanic 22% French/Haitian/Cajun 2% Russian/Polish/Slavic 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: ▲ 4.72%
• Current HPI: 168.9152
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-18 Listed $59,000 MREIS

Property tax history

+1.8%/yr

Latest (2025): $891 · +2.2% YoY. Source: county tax records.