76 Spring St · Old Town, ME 04468

$209,900

3 bd · 1.0 ba · 760 sqft · SingleFamily public records · 2 Days on market

Built 1900 5,662 sqft lot Est $184k · 14% over

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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 +16.4/30.0
• Schools +6.8/10.0
• DSCR +5.1/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• ARV discount +1.1/15.0

Listing remarks MLS

AFFORDABLE!! Adorable and cute as a button colonial w year round water views over the Stillwater River and just 1.5 miles to UMO. 2 bedrooms, 1 bath. Nice living room, modest kitchen w ample cabinets. Hardwood floors. Super front covered porch and great yard. First floor laundry. Easy to heat, low taxes. Fresh paint, newer windows and on demand hot water . Metal roof. House has some nice built ins. Situated on a low traffic side street . Great lot and hill view mini barn storage shed

Key facts

• Quartz countertops
• Fresh paint
• Refreshed interior

Tags

• CONVENIENT LOCATION
• REFRESHED INTERIOR
• NEW FLOORING
• FRESH PAINT
• UPDATED KITCHEN
• QUARTZ COUNTERTOPS

Property features AI

Exterior

• Parking: 1–4 off-street parking spaces (no garage)
• Utilities: Utilities on; Generator hookup available; Public sewer
• Home design: Single-family home with bungalow/colonial/cottage/farmhouse influences; One story entry with additional level(s)
• Construction: Metal roof
• Exterior features: Deck; Shed(s); Scenic view; Located on public water (Penobscot River); Residential zoning

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms on the second floor
• Flooring: Laminate plank flooring
• Bathrooms: One full bathroom
• Heating & cooling: Direct vent heater; Space heater; Window air conditioning unit(s)
• Interior features: Double-pane windows; Interior entry basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $187k (11.0% below list).
• Recommended offer: $187k (11.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#38 in ME, #3,905 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• RSU 34 (suburban): math 81% / reading 83% proficiency, ranked #80 of 112 in ME (top 71%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Old Town Elementary School (math 83% / reading 83%, grade A+, #151 of 294 statewide, top 52%, 427 students, 57% FRL); Leonard Middle School (math 80% / reading 80%, grade A+, #59 of 85 statewide, top 71%, 306 students, 49% FRL); Old Town High School (math 87% / reading 98%, grade A+, #26 of 108 statewide, top 23%, 536 students, 46% FRL).
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 440 units permitted in Penobscot County in 2024 (40 in 5+ unit buildings).
• This rent runs 40% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Penobscot County population projected at -17% 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.
• 4 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 $182k; 15% 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 $186,759 (11.0% 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.45%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $183,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
76 Spring St	0.00mi	2/1.0 (-1)	868 (+14%)	1mo	$209,900	$242	71

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-26,403
• Equity at exit: $31,297

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-13,277
• Equity at exit: $18,148

Cash invested: $58,772 (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 04468

• Home prices YoY: -1.8%
• Active inventory: 46
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,868 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$167 /mo · $2,007/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $120

Break-even live

Break-even rent $1,716

Max offer price $209,900

Occupancy floor 89%

Sensitivity live

Price	-10% $239	-5% $179	+0% $120	+5% $61	+10% $1
Rent	-10% $-28	-5% $46	+0% $120	+5% $194	+10% $267
Rate	-1.0pp $226	-0.5pp $173	base $120	+0.5pp $66	+1.0pp $10

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Centre Dr Orono, ME	1.0–2.0	1.0	796	$1,575	$1.98	45d	1	0.57mi

Listing history 10 events

1. 2026-05-07
   status Pending
2. 2026-05-05
   listed $209,900 Active
3. 2024-09-12
   historical 489-char remark

   Show marketing remark (489 chars)

   AFFORDABLE!! Adorable and cute as a button colonial w year round water views over the Stillwater River and just 1.5 miles to UMO. 2 bedrooms, 1 bath. Nice living room, modest kitchen w ample cabinets. Hardwood floors. Super front covered porch and great yard. First floor laundry. Easy to heat, low taxes. Fresh paint, newer windows and on demand hot water . Metal roof. House has some nice built ins. Situated on a low traffic side street . Great lot and hill view mini barn storage shed

4. 2024-09-10
   soldstatus $182,000 Closed 489-char remark

   Show marketing remark (489 chars)

   AFFORDABLE!! Adorable and cute as a button colonial w year round water views over the Stillwater River and just 1.5 miles to UMO. 2 bedrooms, 1 bath. Nice living room, modest kitchen w ample cabinets. Hardwood floors. Super front covered porch and great yard. First floor laundry. Easy to heat, low taxes. Fresh paint, newer windows and on demand hot water . Metal roof. House has some nice built ins. Situated on a low traffic side street . Great lot and hill view mini barn storage shed

5. 2024-08-18
   status Pending 489-char remark

   Show marketing remark (489 chars)

   AFFORDABLE!! Adorable and cute as a button colonial w year round water views over the Stillwater River and just 1.5 miles to UMO. 2 bedrooms, 1 bath. Nice living room, modest kitchen w ample cabinets. Hardwood floors. Super front covered porch and great yard. First floor laundry. Easy to heat, low taxes. Fresh paint, newer windows and on demand hot water . Metal roof. House has some nice built ins. Situated on a low traffic side street . Great lot and hill view mini barn storage shed

6. 2024-08-07
   listed $189,000 Active 489-char remark

   Show marketing remark (489 chars)

   AFFORDABLE!! Adorable and cute as a button colonial w year round water views over the Stillwater River and just 1.5 miles to UMO. 2 bedrooms, 1 bath. Nice living room, modest kitchen w ample cabinets. Hardwood floors. Super front covered porch and great yard. First floor laundry. Easy to heat, low taxes. Fresh paint, newer windows and on demand hot water . Metal roof. House has some nice built ins. Situated on a low traffic side street . Great lot and hill view mini barn storage shed

7. 2021-06-28
   soldstatus $155,000 Closed 117-char remark

   Show marketing remark (117 chars)

   Newer Roof! Nice views of the water across the street. House needs some TLC and can easily be upgraded on the inside.

8. 2021-05-18
   status Pending 117-char remark

   Show marketing remark (117 chars)

   Newer Roof! Nice views of the water across the street. House needs some TLC and can easily be upgraded on the inside.

9. 2021-05-14
   listed $149,000 Active 117-char remark

   Show marketing remark (117 chars)

   Newer Roof! Nice views of the water across the street. House needs some TLC and can easily be upgraded on the inside.

10. 2007-08-22
    listed $120,000

ⓘ 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: $2,007 · $167/mo
• Projected year-2 tax: $2,431 · $203/mo
• Expected delta: +$424/yr (+$35/mo · 21.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°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: $22,411
• − Mortgage interest: −$11,758
• − Property taxes: −$2,007
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$6,106
• Taxable loss: −$2,095
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $1,942/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 34
• NCES district ID: 2314782
• Math proficiency: 81% ▲ 48.00%
• Reading proficiency: 83% ▲ 31.00%
• Median HH income: $39,466
• Composite: 68.31/100
• National rank: #351
• State rank: #80 of 112 in ME

Livability — Old Town

• Score: 75/100
• State rank: #38
• US rank: #3905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Old Town, ME
• County: Penobscot County · 81,539 people
• City population: 9,291
• Metro: Bangor, ME
• Population (ZIP): 9,291
• Household income: $56,358
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 334.0

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 (88%)
• Race & ethnicity: White 88% Native American 6% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 18% Slovak 4% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Other Indo-European 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: ▼ -5.29%
• Current HPI: 285.3183
• Rent YoY: —
• Metro: Bangor, ME
• State GDP YoY: —
• F500 in state: 0

Price history

+74.9% since first listed

10 events — show timeline

• 2026-05-07 Pending — MREIS
• 2026-05-05 Listed $209,900 MREIS
• 2024-09-12 Delisted — MREIS
• 2024-09-10 Sold (MLS) $182,000 MREIS
• 2024-08-18 Pending — MREIS
• 2024-08-07 Listed $189,000 MREIS
• 2021-06-28 Sold (MLS) $155,000 MREIS
• 2021-05-18 Pending — MREIS
• 2021-05-14 Listed $149,000 MREIS
• 2007-08-22 Listed $120,000 MREIS

Property tax history

+2.5%/yr

Latest (2024): $2,007 · +0.0% YoY. Source: county tax records.