40 South Patten Rd · Patten, ME 04765

$100,000

3 bd · 1.0 ba · 1,300 sqft · MultiFamily · 234 Days on market

0.91 ac lot ↓ 17% 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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Appreciation +5.5/10.0
• Schools +3.4/10.0
• 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

Key facts

• 0.91 acre lot
• Garage
• Listed 234 days

Property features AI

Exterior

• Parking: 1-car garage; Paved parking with space for 1–4 vehicles
• Utilities: Private well water; Private septic tank; Electric service with fuses
• Home design: Single family residence; Entry level rooms on the first floor and bedrooms on the second floor
• Construction: Vinyl siding with wood frame construction; Metal roof; Full basement with interior and walk-out access; dirt floor; exterior-only access; Year built not specified
• Exterior features: Porch; Lot is rolling/sloping with open and level areas; Near town, neighborhood setting in a rural area

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Bedroom 1 (Second level); Bedroom 2 (Second level); Bedroom 3 (Second level)
• Flooring: Tile; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Pellet stove; Baseboard heating; Electric service with fuses
• Interior features: Shower; 6 total rooms
• Laundry & utility: Washer; Dryer; Water heater: oil-fired, tied to heating system

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% 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: 17 active listings in the ZIP; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($691 loan paydown + $1k appreciation (1.0% local appreciation)).
• Penobscot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% 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 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: 1.24% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.69×
• Total profit: $19,415
• Equity at exit: $34,204

10-year hold

• IRR: 17.2%
• Equity multiple: 3.08×
• Total profit: $58,347
• Equity at exit: $45,505

Cash invested: $28,000 (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 04765

• Home prices YoY: 0.9%
• Active inventory: 17
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$138 /mo · $1,652/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $274

Break-even live

Break-even rent $891

Max offer price $100,000

Occupancy floor 73%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-09
   days on market $100,000 Active 234 DOM
2. 2026-06-08
   days on market $100,000 Active 233 DOM
3. 2026-06-07
   days on market $100,000 Active 232 DOM
4. 2026-06-05
   days on market $100,000 Active 230 DOM
5. 2026-06-04
   days on market $100,000 Active 228 DOM
6. 2026-06-02
   days on market $100,000 Active 227 DOM
7. 2026-06-01
   days on market $100,000 Active 226 DOM
8. 2026-05-31
   days on market $100,000 Active 225 DOM
9. 2026-05-31
   days on market $100,000 Active 224 DOM
10. 2026-05-15
    price $100,000
11. 2026-05-13
    price $110,000
12. 2026-05-13
    price $100,000
13. 2026-04-26
    status Active
14. 2026-04-26
    price $110,000
15. 2026-04-11
    historical
16. 2026-03-27
    status Active
17. 2026-03-25
    historical
18. 2025-10-01
    listed $120,000 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: $1,652 · $138/mo
• Projected year-2 tax: $1,652 · $138/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $14,853
• − Mortgage interest: −$5,602
• − Property taxes: −$1,652
• − Insurance: −$500
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$2,909
• Taxable income: $1,814
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $2,854/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 — Patten

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

Census & demographics

• Census place: Patten, ME
• Population (ZIP): 1,452

Population outlook (Penobscot County) Hauer SSP2

• Today (2025): 149,928 people
• By 2030: 146,386 · -2.4%
• By 2040: 135,952 · -9.3%
• By 2050: 123,864 · -17.4%
• By 2075: 97,825 · -34.8%
• By 2100: 77,196 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Native American 1%
• Common ancestry: Lithuanian 11% Slovak 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Penobscot

• 2024 margin: R (+10.9) · D 43.6% · R 54.5% · Other 1.9%
• 2008→2024 swing: -15.9pp toward R · 2008: 5.0pp · 2024: -10.9pp
• All cycles: 2024: R+10.9 2020: R+8.3 2016: R+10.9 2012: D+2.9 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.01%
• Current HPI: 108.8434
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-16.7% since first listed

9 events — show timeline

• 2026-05-15 Price Changed $100,000 MREIS
• 2026-05-13 Price Changed $110,000 MREIS
• 2026-05-13 Price Changed $100,000 MREIS
• 2026-04-26 Relisted — MREIS
• 2026-04-26 Price Changed $110,000 MREIS
• 2026-04-11 Delisted — MREIS
• 2026-03-27 Relisted — MREIS
• 2026-03-25 Delisted — MREIS
• 2025-10-01 Listed $120,000 MREIS

Property tax history

+5.5%/yr

Latest (2025): $1,652 · +9.0% YoY. Source: county tax records.