994 Portland Rd #16 · Saco, ME 04072

$250,000

1 bd · 1.0 ba · 480 sqft · Condo public records · 64 Days on market

Built 2021 $521/sqft · 8% below area Est $306k · 18% under $200/mo HOA · 12% of rent

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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).

• ARV discount +15.0/15.0
• Schools +7.5/10.0
• Cash flow +5.1/30.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy easy coastal living in this stand-alone condo that combines comfort, efficiency, and a great location. Perfectly sized for simple living, it's an ideal home base to enjoy everything Greater Portland and the Southern Maine coast have to offer--from great restaurants and shopping to beautiful beaches. This home offers low-maintenance living with quality finishes throughout, including quartz countertops, full-size appliances. A full basement provides extra space for storage, hobbies, or future possibilities. Whether you're looking for a year-round home or a seasonal getaway, this move-in ready property offers both charm and convenience in a 55+ community.

Key facts

• $200 HOA
• Parking
• Built 2021

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-572 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (40.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (33.5% below list).
• Recommended offer: $149k (40.5% below list) — sets the bar for cash-flow.
• Cap rate 3.5% vs local median 2.8% in Saco — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 84/100 on livability (#5 in ME, #732 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Saco Public Schools (suburban): math 88% / reading 88% proficiency, ranked #37 of 112 in ME (top 33%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 112 active listings in the ZIP; solid renter incomes; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $148,874 (40.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 3.55%
• Cash-on-cash: -9.81%
• DSCR: 0.56
• GRM: 12.5

CMA / ARV

• ARV (median comp): $306,269
• List price: $250,000
• Delta: -18.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -33.8%
• Equity multiple: -0.10×
• Total profit: $-76,849
• Equity at exit: $37,276

10-year hold

• IRR: -41.7%
• Equity multiple: -0.62×
• Total profit: $-113,371
• Equity at exit: $21,615

Cash invested: $70,000 (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 04072

• Home prices YoY: -27.9%
• Active inventory: 112
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,662 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$270 /mo · $3,242/yr
• Insurance: −$104
• HOA: −$200
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-572

Break-even live

Break-even rent $2,387

Max offer price $148,874

Occupancy floor —

Sensitivity live

Price	-10% $-431	-5% $-502	+0% $-572	+5% $-643	+10% $-714
Rent	-10% $-704	-5% $-638	+0% $-572	+5% $-507	+10% $-441
Rate	-1.0pp $-447	-0.5pp $-509	base $-572	+0.5pp $-637	+1.0pp $-703

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $250,000 Active 64 DOM
2. 2026-06-17
   days on market $250,000 Active 63 DOM
3. 2026-06-16
   days on market $250,000 Active 62 DOM
4. 2026-06-15
   days on market $250,000 Active 61 DOM
5. 2026-06-14
   days on market $250,000 Active 59 DOM
6. 2026-06-09
   days on market $250,000 Active 56 DOM
7. 2026-06-09
   price $250,000 Active 55 DOM
8. 2026-06-08
   days on market $260,000 Active 55 DOM
9. 2026-06-07
   days on market $260,000 Active 54 DOM
10. 2026-06-05
    days on market $260,000 Active 51 DOM
11. 2026-06-03
    days on market $260,000 Active 50 DOM
12. 2026-06-02
    days on market $260,000 Active 49 DOM
13. 2026-06-01
    days on market $260,000 Active 48 DOM
14. 2026-05-31
    days on market $260,000 Active 47 DOM
15. 2026-05-30
    days on market $260,000 Active 46 DOM
16. 2026-05-14
    price $260,000 666-char remark

    Show marketing remark (666 chars)

    Enjoy easy coastal living in this stand-alone condo that combines comfort, efficiency, and a great location. Perfectly sized for simple living, it's an ideal home base to enjoy everything Greater Portland and the Southern Maine coast have to offer--from great restaurants and shopping to beautiful beaches. This home offers low-maintenance living with quality finishes throughout, including quartz countertops, full-size appliances. A full basement provides extra space for storage, hobbies, or future possibilities. Whether you're looking for a year-round home or a seasonal getaway, this move-in ready property offers both charm and convenience in a 55+ community.

17. 2026-04-14
    listed $270,000 Active 666-char remark

    Show marketing remark (666 chars)

    Enjoy easy coastal living in this stand-alone condo that combines comfort, efficiency, and a great location. Perfectly sized for simple living, it's an ideal home base to enjoy everything Greater Portland and the Southern Maine coast have to offer--from great restaurants and shopping to beautiful beaches. This home offers low-maintenance living with quality finishes throughout, including quartz countertops, full-size appliances. A full basement provides extra space for storage, hobbies, or future possibilities. Whether you're looking for a year-round home or a seasonal getaway, this move-in ready property offers both charm and convenience in a 55+ community.

18. 2022-06-08
    soldstatus $259,900 Closed
19. 2021-09-07
    historical
20. 2021-07-12
    listed $239,000 Active
21. 2021-05-06
    historical
22. 2021-02-24
    price $229,000
23. 2020-11-23
    listed $224,000 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: $3,242 · $270/mo
• Projected year-2 tax: $3,321 · $277/mo
• Expected delta: +$79/yr (+$7/mo · 2.4%)

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

Taxation est. · year 1

• Rental income: $19,943
• − Mortgage interest: −$14,004
• − Property taxes: −$3,242
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − HOA: −$2,400
• − Depreciation: −$7,273
• Taxable loss: −$11,417
• Est. tax savings @ 24.0%: +$2,740
• After-tax cash flow: $-4,129/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: Saco Public Schools
• NCES district ID: 2310380
• Math proficiency: 88% ▲ 47.00%
• Reading proficiency: 88% ▲ 29.00%
• Median HH income: $55,870
• Composite: 74.86/100
• National rank: #145
• State rank: #37 of 112 in ME

Livability — Saco

• Score: 84/100
• State rank: #5
• US rank: #732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saco, ME
• County: York County · 80,026 people
• City population: 20,819
• Metro: Portland-South Portland, ME
• Population (ZIP): 20,819
• Household income: $92,241
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 421.0

Population outlook (York County) Hauer SSP2

• Today (2025): 209,961 people
• By 2030: 212,816 · +1.4%
• By 2040: 214,360 · +2.1%
• By 2050: 210,350 · +0.2%
• By 2075: 201,686 · -3.9%
• By 2100: 183,392 · -12.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 12% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 89% English-only · Other Indo-European 3% French/Haitian/Cajun 2% Spanish 2%

Political lean MEDSL · York

• 2024 margin: D (+10.5) · D 54.3% · R 43.8% · Other 1.9%
• 2008→2024 swing: -10.1pp toward R · 2008: 20.5pp · 2024: 10.5pp
• All cycles: 2024: D+10.5 2020: D+12.6 2016: D+4.8 2012: D+16.4 2008: D+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -147.38%
• Current HPI: 381.7349
• Rent YoY: —
• Metro: Portland-South Portland, ME
• State GDP YoY: —
• F500 in state: 0

Price history

+16.1% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $260,000 MREIS
• 2026-04-14 Listed $270,000 MREIS
• 2022-06-08 Sold (MLS) $259,900 MREIS
• 2021-09-07 Delisted — MREIS
• 2021-07-12 Listed $239,000 MREIS
• 2021-05-06 Delisted — MREIS
• 2021-02-24 Price Changed $229,000 MREIS
• 2020-11-23 Listed $224,000 MREIS

Property tax history

+91.2%/yr

Latest (2024): $3,242 · -6.5% YoY. Source: county tax records.