551 Waldo St · Rumford, ME 04276

$199,000

6 bd · 3.0 ba · 2,340 sqft · MultiFamily public records · 214 Days on market

Built 1900 6,098 sqft lot $85/sqft · 25% above area Est $159k · 25% over

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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
• Appreciation +10.0/10.0
• Schools +6.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Nice 3 family close to shopping in Rumford! This property has had all 3 units updated during time of current ownership. The property has 2, 2 bed units and 1, 3 bed unit on the first floor! Off street parking! Tenants pay their own electric. Add this to your portfolio today!

Key facts

• Updated units
• Off street parking
• Close to shopping

Tags

• CLOSE TO SHOPPING
• UPDATED UNITS
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $726/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.4% vs local median 6.0% in Rumford — 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 75/100 on livability (#39 in ME, #4,030 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D, amenities F, employment F.
• RSU 10 (rural): math 72% / reading 79% proficiency, ranked #107 of 112 in ME (top 96%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Rumford Elementary (math 62% / reading 67%, grade B, #279 of 294 statewide, top 95%, 261 students, 72% FRL); Mountain Valley Middle School (math 69% / reading 78%, grade A, #79 of 85 statewide, top 95%, 354 students, 76% FRL); Mountain Valley High School (math 74% / reading 84%, grade A-, #99 of 108 statewide, top 95%, 388 students, 71% FRL).
• Market conditions: 82 active listings in the ZIP; 329 units permitted in Oxford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Oxford County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $112k; list at $199k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 2.20% ✓
• Cap rate: 19.42%
• Cash-on-cash: 46.89%
• DSCR: 3.09
• GRM: 3.8

CMA / ARV

• ARV (median comp): $158,697
• List price: $199,000
• Delta: 25.40%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 Knox St	0.44mi	6/3.0	2,496 (+7%)	16mo	$225,000	$90	55
319 Knox St	0.48mi	5/3.0 (-1)	2,470 (+6%)	21mo	$200,000	$81	46
205 Spruce St	0.74mi	5/3.0 (-1)	2,152 (-8%)	20mo	$190,000	$88	31

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.0%
• Equity multiple: 5.43×
• Total profit: $247,048
• Equity at exit: $179,275

10-year hold

• IRR: 54.5%
• Equity multiple: 12.10×
• Total profit: $618,497
• Equity at exit: $386,613

Cash invested: $55,720 (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 04276

• Home prices YoY: 4.4%
• Active inventory: 82
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $4,382 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$920
• Net cashflow: $2,177

Break-even live

Break-even rent $1,626

Max offer price $199,000

Occupancy floor 45%

Sensitivity live

Price	-10% $2,290	-5% $2,233	+0% $2,177	+5% $2,121	+10% $2,064
Rent	-10% $1,831	-5% $2,004	+0% $2,177	+5% $2,350	+10% $2,523
Rate	-1.0pp $2,277	-0.5pp $2,228	base $2,177	+0.5pp $2,125	+1.0pp $2,073

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,916
1× unit	3	1	$1,465
Total (3 units)			$4,382

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $199,000 Active 214 DOM
2. 2026-06-21
   days on market $199,000 Active 213 DOM
3. 2026-06-18
   days on market $199,000 Active 211 DOM
4. 2026-06-17
   days on market $199,000 Active 210 DOM
5. 2026-06-16
   days on market $199,000 Active 209 DOM
6. 2026-06-15
   days on market $199,000 Active 208 DOM
7. 2026-06-13
   days on market $199,000 Active 206 DOM
8. 2026-06-12
   days on market $199,000 Active 205 DOM
9. 2026-06-09
   days on market $199,000 Active 202 DOM
10. 2026-06-08
    days on market $199,000 Active 201 DOM
11. 2026-06-07
    days on market $199,000 Active 200 DOM
12. 2026-06-07
    days on market $199,000 Active 199 DOM
13. 2026-06-04
    days on market $199,000 Active 196 DOM
14. 2026-06-02
    days on market $199,000 Active 195 DOM
15. 2026-06-01
    days on market $199,000 Active 194 DOM
16. 2026-05-31
    days on market $199,000 Active 193 DOM
17. 2026-05-31
    days on market $199,000 Active 192 DOM
18. 2025-11-20
    listed $199,000 Active 275-char remark

    Show marketing remark (275 chars)

    Nice 3 family close to shopping in Rumford! This property has had all 3 units updated during time of current ownership. The property has 2, 2 bed units and 1, 3 bed unit on the first floor! Off street parking! Tenants pay their own electric. Add this to your portfolio today!

19. 2021-12-14
    soldstatus $112,500 Closed 324-char remark

    Show marketing remark (324 chars)

    Wow! A 3 unit building at this price?! What an amazing opportunity for someone just starting out or looking to add to their portfolio. This building has two 2 bedroom units and one 3 bedroom unit. This property has a good rental history and located close to the Grocery store. This one is a money maker! Lock this up today!

20. 2021-11-01
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Wow! A 3 unit building at this price?! What an amazing opportunity for someone just starting out or looking to add to their portfolio. This building has two 2 bedroom units and one 3 bedroom unit. This property has a good rental history and located close to the Grocery store. This one is a money maker! Lock this up today!

21. 2021-10-22
    listed $129,900 Active 324-char remark

    Show marketing remark (324 chars)

    Wow! A 3 unit building at this price?! What an amazing opportunity for someone just starting out or looking to add to their portfolio. This building has two 2 bedroom units and one 3 bedroom unit. This property has a good rental history and located close to the Grocery store. This one is a money maker! Lock this up today!

22. 2021-04-24
    historical
23. 2020-08-22
    listed $89,900 Active
24. 2019-08-16
    soldstatus $78,250 Closed
25. 2019-06-21
    status Pending
26. 2019-04-15
    listed $75,000 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: $1,899 · $158/mo
• Projected year-2 tax: $2,303 · $192/mo
• Expected delta: +$404/yr (+$34/mo · 21.3%)

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

Taxation est. · year 1

• Rental income: $52,584
• − Mortgage interest: −$11,147
• − Property taxes: −$1,899
• − Insurance: −$995
• − Repairs & maintenance: −$4,207
• − Management: −$4,207
• − Depreciation: −$5,789
• Taxable income: $24,340
• Est. tax owed @ 24.0%: −$5,842
• After-tax cash flow: $20,283/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 10
• NCES district ID: 2314795
• Math proficiency: 72% ▲ 50.00%
• Reading proficiency: 79% ▲ 34.00%
• Median HH income: $37,647
• Composite: 62.72/100
• National rank: #671
• State rank: #107 of 112 in ME

Livability — Rumford

• Score: 75/100
• State rank: #39
• US rank: #4030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rumford, ME
• Population (ZIP): 5,918

Population outlook (Oxford County) Hauer SSP2

• Today (2025): 55,853 people
• By 2030: 54,190 · -3.0%
• By 2040: 49,484 · -11.4%
• By 2050: 43,958 · -21.3%
• By 2075: 32,308 · -42.2%
• By 2100: 21,858 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Lithuanian 27% Slovak 5% German 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Tagalog/Filipino 1%

Political lean MEDSL · Oxford

• 2024 margin: R (+12.9) · D 42.7% · R 55.6% · Other 1.7%
• 2008→2024 swing: -28.9pp toward R · 2008: 16.0pp · 2024: -12.9pp
• All cycles: 2024: R+12.9 2020: R+8.8 2016: R+13.0 2012: D+14.9 2008: D+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.73%
• Current HPI: 301.2786
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+165.3% since first listed

9 events — show timeline

• 2025-11-20 Listed $199,000 MREIS
• 2021-12-14 Sold (MLS) $112,500 MREIS
• 2021-11-01 Pending — MREIS
• 2021-10-22 Listed $129,900 MREIS
• 2021-04-24 Delisted — MREIS
• 2020-08-22 Listed $89,900 MREIS
• 2019-08-16 Sold (MLS) $78,250 MREIS
• 2019-06-21 Pending — MREIS
• 2019-04-15 Listed $75,000 MREIS

Property tax history

+12.7%/yr

Latest (2025): $1,899 · +12.7% YoY. Source: county tax records.