463 Clover Mill Rd · Farmington, ME 04938

$99,000

1 bd · 0.5 ba · 346 sqft · Other public records · 250 Days on market

Built 2021 23 ac lot $286/sqft · 6% above area ↓ 25% 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 +24.5/30.0
• Appreciation +10.0/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

Key facts

• Durable metal roof
• Fenced sections
• Peaceful creek

Tags

• WOODED ACRES
• PEACEFUL CREEK
• PARTIALLY FINISHED
• ROUGHED-IN ELECTRICAL
• DURABLE METAL ROOF
• FENCED SECTIONS

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath other listed at $99k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.8% 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: schools D, 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.
• Market conditions: 90 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 ($684 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 250 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.11% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.75%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (median comp): $229,151
• List price: $99,000
• Delta: -56.80%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.7%
• Equity multiple: 3.41×
• Total profit: $66,791
• Equity at exit: $89,187

10-year hold

• IRR: 26.5%
• Equity multiple: 7.73×
• Total profit: $186,581
• Equity at exit: $192,335

Cash invested: $27,720 (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 04938

• Home prices YoY: 6.4%
• Active inventory: 90
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$106 /mo · $1,266/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $202

Break-even live

Break-even rent $843

Max offer price $99,000

Occupancy floor 77%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $99,000 Active 250 DOM
2. 2026-06-17
   days on market $99,000 Active 249 DOM
3. 2026-06-16
   days on market $99,000 Active 248 DOM
4. 2026-06-15
   days on market $99,000 Active 247 DOM
5. 2026-06-13
   days on market $99,000 Active 245 DOM
6. 2026-06-12
   days on market $99,000 Active 244 DOM
7. 2026-06-09
   days on market $99,000 Active 241 DOM
8. 2026-06-08
   days on market $99,000 Active 240 DOM
9. 2026-06-07
   days on market $99,000 Active 239 DOM
10. 2026-06-07
    days on market $99,000 Active 238 DOM
11. 2026-06-04
    days on market $99,000 Active 235 DOM
12. 2026-06-03
    price $99,000 Active 234 DOM
13. 2026-06-02
    days on market $119,000 Active 234 DOM
14. 2026-06-01
    days on market $119,000 Active 233 DOM
15. 2026-05-31
    days on market $119,000 Active 232 DOM
16. 2026-05-31
    days on market $119,000 Active 231 DOM
17. 2026-05-14
    price $119,000 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

18. 2026-04-21
    price $134,000 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

19. 2026-04-16
    price $134,000 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

20. 2025-11-10
    listed $139,000 Active 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

21. 2025-11-07
    price $139,000 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

22. 2025-10-28
    price $149,000 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

23. 2025-10-11
    listed $159,000 Active 726-char remark

    Show marketing remark (726 chars)

    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. All within 10 minutes of downtown Farmington, and just a stones throw from Snowmobile & 4-wheeler trails.

ⓘ 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: $1,306 · $109/mo
• Expected delta: +$40/yr (+$3/mo · 3.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $13,184
• − Mortgage interest: −$5,546
• − Property taxes: −$1,266
• − Insurance: −$495
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,880
• Taxable income: $888
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,211/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 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

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

• Population (ZIP): 10,368

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%

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%

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

Price history

-25.2% since first listed

7 events — show timeline

• 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

Property tax history

+23.2%/yr

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