463 Clover Mill Rd · Farmington, ME 04938

$99,500

3 bd · 1.0 ba · 346 sqft · SingleFamily public records · 22 Days on market

Built 2024 Poor condition 23 ac lot $288/sqft · 8% above area ↓ 14% since listing

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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 +24.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

23 wooded acres with a peaceful creek running along the boarder - the perfect setting for your homestead, hunting camp, or off-grid escape. The 850 sq ft home is partially finished with roughed-in electrical, town water, and a durable metal roof already in place. The structure gives you a strong head start to finish the build your way. The land offers a mix of woods and small cleared areas, with fenced sections, sheds, and coops ready for animals or storage. Whether you're looking to live simply, raise a few animals, or create a private getaway, this property gives you space and freedom to make it your own.

Key facts

• 23 acre lot
• 5 parking spots
• Built 2024

Tags

• 23 ACRE PIECE OF LAND
• QUIET AND PEACEFUL STREAM
• CAMP ALREADY IN PLACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.3% in Farmington — 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 80/100 on livability (#18 in ME, #1,653 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D-.
• RSU 09 (rural): math 78% / reading 82% proficiency, ranked #88 of 112 in ME (top 79%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mt Blue Middle School (math 78% / reading 79%, grade A+, #69 of 85 statewide, top 82%, 488 students, 50% FRL); Mt Blue High School (math 87% / reading 95%, grade A+, #42 of 108 statewide, top 38%, 733 students, 45% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 137 active listings in the ZIP; 164 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($688 loan paydown + $10k appreciation (10.0% local appreciation)).
• Franklin 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $98,007 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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 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: 1.12% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (median comp): $226,233
• List price: $99,500
• Delta: -56.02%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Temple Rd	1.27mi	2/1.0 (-1)	416 (+20%)	6mo	$182,500	$439	30

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: 30.9%
• Equity multiple: 3.42×
• Total profit: $67,529
• Equity at exit: $89,637

10-year hold

• IRR: 26.7%
• Equity multiple: 7.76×
• Total profit: $188,387
• Equity at exit: $193,307

Cash invested: $27,860 (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 04938

• Home prices YoY: 6.4%
• Active inventory: 137
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,112 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$106 /mo · $1,266/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $209

Break-even live

Break-even rent $847

Max offer price $99,500

Occupancy floor 76%

Sensitivity live

Price	-10% $266	-5% $238	+0% $209	+5% $181	+10% $153
Rent	-10% $122	-5% $165	+0% $209	+5% $253	+10% $297
Rate	-1.0pp $259	-0.5pp $235	base $209	+0.5pp $184	+1.0pp $157

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: $24,875
• Closing costs: $2,985
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: Gravel parkingSpace for 5–10 vehicles
• Utilities: Public waterSeptic requiredElectric service with circuit breakersElectric water heater
• Home design: Single family residenceMulti-level homeBuilt in 2024
• Construction: Wood frame construction with wood sidingMetal roofPillar/post/pier foundation
• Exterior features: Wooded settingLevel lotNear shopping and townStream frontage / on a streamExterior basement entryCrawl space

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom on the first floorTwo additional bedrooms on the second floor
• Flooring: Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Zoned heating
• Interior features: First-floor bedroomBathtubFive total rooms
• Laundry & utility: Washer hookup

Listing history 50 events

1. 2026-09-23
   pricedays on market $99,500 Active 22 DOM
2. 2026-09-20
   days on market $115,000 Active 19 DOM
3. 2026-09-19
   days on market $115,000 Active 17 DOM
4. 2026-09-17
   days on market $115,000 Active 16 DOM
5. 2026-09-17
   days on market $115,000 Active 15 DOM
6. 2026-09-16
   days on market $115,000 Active 14 DOM
7. 2026-09-15
   price $115,000 Active 13 DOM
8. 2026-09-14
   days on market $129,900 Active 13 DOM
9. 2026-09-13
   days on market $129,900 Active 12 DOM
10. 2026-09-12
    days on market $129,900 Active 11 DOM
11. 2026-09-11
    days on market $129,900 Active 10 DOM
12. 2026-09-05
    days on market $129,900 Active 4 DOM
13. 2026-09-04
    days on market $129,900 Active 3 DOM
14. 2026-09-03
    days on market $129,900 Active 2 DOM
15. 2026-09-02
    pricedays on marketlisting id $129,900 Active 1 DOM
16. 2026-07-18
    days on market $134,000 Active 250 DOM
17. 2026-07-17
    pricedays on marketlisting id $134,000 Active 248 DOM
18. 2026-07-15
    days on market $99,000 Active 277 DOM
19. 2026-07-14
    days on market $99,000 Active 276 DOM
20. 2026-07-13
    days on market $99,000 Active 275 DOM
21. 2026-07-12
    days on market $99,000 Active 274 DOM
22. 2026-07-12
    days on market $99,000 Active 273 DOM
23. 2026-07-10
    days on market $99,000 Active 272 DOM
24. 2026-07-09
    days on market $99,000 Active 271 DOM
25. 2026-07-08
    days on market $99,000 Active 269 DOM
26. 2026-07-06
    days on market $99,000 Active 268 DOM
27. 2026-07-05
    days on market $99,000 Active 267 DOM
28. 2026-07-04
    days on market $99,000 Active 266 DOM
29. 2026-07-03
    days on market $99,000 Active 265 DOM
30. 2026-07-03
    days on market $99,000 Active 264 DOM
31. 2026-07-01
    days on market $99,000 Active 263 DOM
32. 2026-06-30
    days on market $99,000 Active 262 DOM
33. 2026-06-29
    days on market $99,000 Active 261 DOM
34. 2026-06-28
    days on market $99,000 Active 260 DOM
35. 2026-06-27
    days on market $99,000 Active 259 DOM
36. 2026-06-26
    days on market $99,000 Active 257 DOM
37. 2026-06-22
    days on market $99,000 Active 254 DOM
38. 2026-06-21
    days on market $99,000 Active 253 DOM
39. 2026-06-21
    days on market $99,000 Active 252 DOM
40. 2026-06-18
    days on market $99,000 Active 250 DOM
41. 2026-06-17
    days on market $99,000 Active 249 DOM
42. 2026-06-16
    days on market $99,000 Active 248 DOM
43. 2026-06-15
    days on market $99,000 Active 247 DOM
44. 2026-06-13
    days on market $99,000 Active 245 DOM
45. 2026-06-12
    days on market $99,000 Active 244 DOM
46. 2026-06-09
    days on market $99,000 Active 241 DOM
47. 2026-06-08
    days on market $99,000 Active 240 DOM
48. 2026-06-07
    days on market $99,000 Active 239 DOM
49. 2026-06-07
    days on market $99,000 Active 238 DOM
50. 2026-06-04
    days on market $99,000 Active 235 DOM

ⓘ 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: $1,266 · $106/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$44/yr (+$4/mo · 3.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,338
• − Mortgage interest: −$5,574
• − Property taxes: −$1,266
• − Insurance: −$498
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$2,895
• Taxable income: $973
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $2,279/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab Est. rehab $17,300–$31,140 screening

This property requires extensive renovation and improvements to bring it up to a livable standard. Significant work is needed on the roof, exterior, interior walls, HVAC, and landscaping to increase its resale and rental value.

Repairs flagged

• Major roof — No roof visible
• Major exterior — No exterior visible
• Major interior walls/paint — No interior walls/paint visible
• Major HVAC/mechanicals — No HVAC/mechanicals visible
• Major landscaping/curb appeal — No landscaping/curb appeal visible

Value-add opportunities

• Both Complete roof and exterior renovation — A new roof and exterior would significantly improve the home's appearance and value ↑
• Both Paint interior walls and trim — Fresh paint would enhance the home's curb appeal and interior aesthetics ↑
• Both Install modern HVAC system — A new HVAC system would improve comfort and energy efficiency ↑
• Both Landscaping and curb appeal improvements — A well-maintained landscape would enhance the home's curb appeal and value ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: RSU 09
• NCES district ID: 2314809
• Math proficiency: 78% ▲ 48.00%
• Reading proficiency: 82% ▲ 31.00%
• Median HH income: $40,202
• Composite: 66.71/100
• National rank: #409
• State rank: #88 of 112 in ME

A Composite livability gradescore 80/100

Livability — Farmington

• Score: 80/100
• State rank: #18
• US rank: #1653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Franklin · 28,948 people
• Population (ZIP): 10,368
• Household income: $54,281
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 13% of renters

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Population outlook (Franklin County) Hauer SSP2

• Today (2025): 28,948 people
• By 2030: 27,889 · -3.7%
• By 2040: 25,275 · -12.7%
• By 2050: 22,770 · -21.3%
• By 2075: 18,980 · -34.4%
• By 2100: 16,816 · -41.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Italian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

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Political lean MEDSL · Franklin

• 2024 margin: Lean R (+8.2) · D 44.8% · R 53.0% · Other 2.2%
• 2008→2024 swing: -28.5pp toward R · 2008: 20.3pp · 2024: -8.2pp
• All cycles: 2024: R+8.2 2020: R+3.9 2016: R+5.5 2012: D+18.5 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.53%
• Current HPI: 325.7666
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Property features AI

Exterior

• Parking: Gravel parkingSpace for 5–10 vehicles
• Utilities: Public waterSeptic requiredElectric service with circuit breakersElectric water heater
• Home design: Single family residenceMulti-level homeBuilt in 2024
• Construction: Wood frame construction with wood sidingMetal roofPillar/post/pier foundation
• Exterior features: Wooded settingLevel lotNear shopping and townStream frontage / on a streamExterior basement entryCrawl space

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom on the first floorTwo additional bedrooms on the second floor
• Flooring: Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Zoned heating
• Interior features: First-floor bedroomBathtubFive total rooms
• Laundry & utility: Washer hookup

Price history

-14.3% since first listed

10 events — show timeline

• 2026-09-01 Listed $129,900 MREIS
• 2026-06-02 Price Changed $99,000 MREIS
• 2026-05-14 Price Changed $119,000 MREIS
• 2026-04-21 Price Changed $134,000 MREIS
• 2026-04-16 Price Changed $134,000 MREIS
• 2025-11-10 Listed $139,000 MREIS
• 2025-11-07 Price Changed $139,000 MREIS
• 2025-10-28 Price Changed $149,000 MREIS
• 2025-10-11 Listed $159,000 MREIS
• 2024-09-16 Listed $151,500 MREIS

Property tax history

+23.2%/yr

Latest (2025): $1,266 · +46.9% YoY. Source: county tax records.