296 Laing Hill Rd · Palmyra, ME 04965

$159,000

1 bd · 1.0 ba · 980 sqft · MultiFamily · 169 Days on market

Built 1978 1.06 ac lot $162/sqft · 51% below area ↓ 8% since listing

---

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 +27.0/30.0
• DSCR +9.3/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +6.4/10.0
• 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

Listing remarks MLS

Looking for a home with lots of garage space, and room for all your toys? this Gambrel one bedroom home offers easy living, with lots of storage. You could even finish off the garage downstairs if you wanted more living space.

Key facts

• Lots of storage
• 1.06 acre lot
• 4 garage spots

Tags

• LOTS OF STORAGE
• FINISH OFF THE GARAGE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (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 19 (rural): math 73% / reading 81% proficiency, ranked #96 of 112 in ME (top 86%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 16 active listings in the ZIP; 129 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.1% local appreciation)).
• Somerset County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.17% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.97%
• DSCR: 1.53
• GRM: 7.1

CMA / ARV

• ARV (median comp): $322,662
• List price: $159,000
• Delta: -50.72%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

6.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 2.70×
• Total profit: $75,512
• Equity at exit: $101,391

10-year hold

• IRR: 24.0%
• Equity multiple: 5.48×
• Total profit: $199,584
• Equity at exit: $185,120

Cash invested: $44,520 (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 04965

• Home prices YoY: 2.7%
• Active inventory: 16
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $1,854 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$121 /mo · $1,448/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $444

Break-even live

Break-even rent $1,292

Max offer price $159,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,854
Total (2 units)			$1,854

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $159,000 Active 169 DOM
2. 2026-06-17
   days on market $159,000 Active 168 DOM
3. 2026-06-16
   days on market $159,000 Active 167 DOM
4. 2026-06-15
   days on market $159,000 Active 166 DOM
5. 2026-06-14
   days on market $159,000 Active 164 DOM
6. 2026-06-13
   days on market $159,000 Active 163 DOM
7. 2026-06-10
   days on market $159,000 Active 161 DOM
8. 2026-06-09
   days on market $159,000 Active 160 DOM
9. 2026-06-08
   days on market $159,000 Active 159 DOM
10. 2026-06-07
    days on market $159,000 Active 158 DOM
11. 2026-06-05
    pricedays on market $159,000 Active 155 DOM
12. 2026-06-03
    days on market $174,900 Active 154 DOM
13. 2026-06-02
    days on market $174,900 Active 153 DOM
14. 2026-06-01
    days on market $174,900 Active 152 DOM
15. 2026-05-31
    days on market $174,900 Active 151 DOM
16. 2026-05-30
    days on market $174,900 Active 150 DOM
17. 2026-04-17
    price $174,900 226-char remark

    Show marketing remark (226 chars)

    Looking for a home with lots of garage space, and room for all your toys? this Gambrel one bedroom home offers easy living, with lots of storage. You could even finish off the garage downstairs if you wanted more living space.

18. 2025-12-31
    listed $189,900 Active 226-char remark

    Show marketing remark (226 chars)

    Looking for a home with lots of garage space, and room for all your toys? this Gambrel one bedroom home offers easy living, with lots of storage. You could even finish off the garage downstairs if you wanted more living space.

ⓘ 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: $1,448 · $121/mo
• Projected year-2 tax: $1,805 · $150/mo
• Expected delta: +$357/yr (+$30/mo · 24.7%)

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

Taxation est. · year 1

• Rental income: $22,248
• − Mortgage interest: −$8,906
• − Property taxes: −$1,448
• − Insurance: −$795
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$4,625
• Taxable income: $2,913
• Est. tax owed @ 24.0%: −$699
• After-tax cash flow: $4,628/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 19
• NCES district ID: 2314785
• Math proficiency: 73% ▲ 53.00%
• Reading proficiency: 81% ▲ 39.00%
• Median HH income: $41,866
• Composite: 64.37/100
• National rank: #548
• State rank: #96 of 112 in ME

Livability — Palmyra

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

Census & demographics

• Population (ZIP): 2,150

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 48,335 people
• By 2030: 46,268 · -4.3%
• By 2040: 41,276 · -14.6%
• By 2050: 36,137 · -25.2%
• By 2075: 26,408 · -45.4%
• By 2100: 18,836 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 9% Romanian 2% Portuguese 1%
• Foreign-born: 2%

Political lean MEDSL · Somerset

• 2024 margin: Strong R (+27.1) · D 35.6% · R 62.7% · Other 1.7%
• 2008→2024 swing: -32.8pp toward R · 2008: 5.7pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+23.4 2016: R+22.8 2012: D+1.7 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.14%
• Current HPI: 230.6987
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.9% since first listed

2 events — show timeline

• 2026-04-17 Price Changed $174,900 MREIS
• 2025-12-31 Listed $189,900 MREIS

Property tax history

+2.8%/yr

Latest (2025): $1,448 · +8.1% YoY. Source: county tax records.