81 Old Route One · Hancock, ME 04640

$420,000

3 bd · 2.0 ba · 1,900 sqft · MultiFamily · 2 Days on market

Built 1900 5.00 ac lot

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Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• DSCR +4.3/10.0
• Schools +3.1/10.0
• 1% rule +2.8/10.0
• 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

This charming, classic farmhouse located in desirable Hancock, sits on 5 acres. The first floor consists of a large, eat-in kitchen, living room with pellet stove, spacious master bedroom, full bath and laundry area. The second floor has 3 bedrooms, full bath and an unfinished attic space that is great for storage or finish off for another room. Wood floors throughout, newer appliances and an attached 3 car garage. In addition, there is an unfinished structure in the back yard that has it's own well, septic and power pole. Enjoy the wildlife and beautiful rhododendrons while relaxing in the gazebo. Close proximity to Downtown Ellsworth, Acadia National Park and Schoodic Peninsula.

Key facts

• Pellet stove
• Furnished
• Classic farmhouse

Tags

• FURNISHED
• CLASSIC FARMHOUSE
• APPROXIMATELY 5 ACRES
• SPACIOUS EAT-IN KITCHEN
• COMFORTABLE LIVING AREA
• PELLET STOVE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $55 ($662/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $326k (22.3% below list).
• Recommended offer: $326k (22.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hancock Public Schools (rural): math 20% / reading 45% proficiency, ranked #158 of 185 in ME (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hancock Grammar School (math 72% / reading 82%, grade A, #209 of 294 statewide, top 75%, 174 students, 47% FRL) — zoned schools at 47% FRL track the district average.
• Zoned-school proficiency averages 77% at this address vs 32% district-wide (+44 pts) — the actual schools serving this property are materially stronger than the Hancock Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 36 active listings in the ZIP; 270 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($3k loan paydown + $-2k appreciation (-0.5% local appreciation)).
• Hancock County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $291k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $326,400 (22.3% below list)

Questions for the listing agent

1. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.85×
• Total profit: $-17,767
• Equity at exit: $112,579

10-year hold

• IRR: 2.8%
• Equity multiple: 1.29×
• Total profit: $33,654
• Equity at exit: $128,054

Cash invested: $117,600 (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 04640

• Home prices YoY: -0.2%
• Active inventory: 36
• Price-to-rent: 32.2×

Monthly cashflow live

• Estimated rent: $3,264 medium
• Mortgage (P&I): −$2,203
• Tax from tax record: −$146 /mo · $1,750/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $55

Break-even live

Break-even rent $3,194

Max offer price $420,000

Occupancy floor 93%

Sensitivity live

Price	-10% $293	-5% $174	+0% $55	+5% $-64	+10% $-183
Rent	-10% $-203	-5% $-74	+0% $55	+5% $184	+10% $313
Rate	-1.0pp $267	-0.5pp $162	base $55	+0.5pp $-54	+1.0pp $-164

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,264
Total (3 units)			$3,264

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-15
   status Pending
2. 2026-04-14
   listed $420,000 Active
3. 2022-09-15
   historical 689-char remark

   Show marketing remark (689 chars)

   This charming, classic farmhouse located in desirable Hancock, sits on 5 acres. The first floor consists of a large, eat-in kitchen, living room with pellet stove, spacious master bedroom, full bath and laundry area. The second floor has 3 bedrooms, full bath and an unfinished attic space that is great for storage or finish off for another room. Wood floors throughout, newer appliances and an attached 3 car garage. In addition, there is an unfinished structure in the back yard that has it's own well, septic and power pole. Enjoy the wildlife and beautiful rhododendrons while relaxing in the gazebo. Close proximity to Downtown Ellsworth, Acadia National Park and Schoodic Peninsula.

4. 2022-09-13
   soldstatus $291,450 Closed 689-char remark

   Show marketing remark (689 chars)

   This charming, classic farmhouse located in desirable Hancock, sits on 5 acres. The first floor consists of a large, eat-in kitchen, living room with pellet stove, spacious master bedroom, full bath and laundry area. The second floor has 3 bedrooms, full bath and an unfinished attic space that is great for storage or finish off for another room. Wood floors throughout, newer appliances and an attached 3 car garage. In addition, there is an unfinished structure in the back yard that has it's own well, septic and power pole. Enjoy the wildlife and beautiful rhododendrons while relaxing in the gazebo. Close proximity to Downtown Ellsworth, Acadia National Park and Schoodic Peninsula.

5. 2022-07-28
   status Pending 689-char remark

   Show marketing remark (689 chars)

   This charming, classic farmhouse located in desirable Hancock, sits on 5 acres. The first floor consists of a large, eat-in kitchen, living room with pellet stove, spacious master bedroom, full bath and laundry area. The second floor has 3 bedrooms, full bath and an unfinished attic space that is great for storage or finish off for another room. Wood floors throughout, newer appliances and an attached 3 car garage. In addition, there is an unfinished structure in the back yard that has it's own well, septic and power pole. Enjoy the wildlife and beautiful rhododendrons while relaxing in the gazebo. Close proximity to Downtown Ellsworth, Acadia National Park and Schoodic Peninsula.

6. 2022-07-26
   listed $279,900 Active 689-char remark

   Show marketing remark (689 chars)

   This charming, classic farmhouse located in desirable Hancock, sits on 5 acres. The first floor consists of a large, eat-in kitchen, living room with pellet stove, spacious master bedroom, full bath and laundry area. The second floor has 3 bedrooms, full bath and an unfinished attic space that is great for storage or finish off for another room. Wood floors throughout, newer appliances and an attached 3 car garage. In addition, there is an unfinished structure in the back yard that has it's own well, septic and power pole. Enjoy the wildlife and beautiful rhododendrons while relaxing in the gazebo. Close proximity to Downtown Ellsworth, Acadia National Park and Schoodic Peninsula.

7. 2013-09-30
   soldstatus $160,000 287-char remark

   Show marketing remark (287 chars)

   Quintessential New England Farm House exploding w/ character. Lrg master BR & BA on 1st flr, updated kitchen w/ working island & french doors to back yard. 3BR & BA on 2nd flr. Roomy LR w/ original hrdwd flrs & great lighting. Additional build lot w/ estab well/sept.

8. 2007-08-16
   listed $210,000

ⓘ 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: $1,750 · $146/mo
• Projected year-2 tax: $3,731 · $311/mo
• Expected delta: +$1,981/yr (+$165/mo · 113.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $39,168
• − Mortgage interest: −$23,527
• − Property taxes: −$1,750
• − Insurance: −$2,100
• − Repairs & maintenance: −$3,133
• − Management: −$3,133
• − Depreciation: −$12,218
• Taxable loss: −$6,694
• Est. tax savings @ 24.0%: +$1,606
• After-tax cash flow: $2,269/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: Hancock Public Schools
• NCES district ID: 2306260
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $45,128
• Composite: 30.5/100
• National rank: #11483
• State rank: #158 of 185 in ME

Livability — Hancock

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

Census & demographics

• Population (ZIP): 2,451

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 53,608 people
• By 2030: 52,594 · -1.9%
• By 2040: 49,556 · -7.6%
• By 2050: 46,152 · -13.9%
• By 2075: 39,678 · -26.0%
• By 2100: 33,690 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 12% Slovak 7% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: D (+11.8) · D 54.7% · R 42.9% · Other 2.4%
• 2008→2024 swing: -7.5pp toward R · 2008: 19.3pp · 2024: 11.8pp
• All cycles: 2024: D+11.8 2020: D+12.4 2016: D+7.6 2012: D+16.7 2008: D+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.45%
• Current HPI: 206.9324
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+100.0% since first listed

8 events — show timeline

• 2026-04-15 Pending — MREIS
• 2026-04-14 Listed $420,000 MREIS
• 2022-09-15 Delisted — MREIS
• 2022-09-13 Sold (MLS) $291,450 MREIS
• 2022-07-28 Pending — MREIS
• 2022-07-26 Listed $279,900 MREIS
• 2013-09-30 Sold (MLS) $160,000 MREIS
• 2007-08-16 Listed $210,000 MREIS

Property tax history

+1.7%/yr

Latest (2024): $1,750 · +12.0% YoY. Source: county tax records.