90 East Main St · Searsport, ME 04974

$64,900

4 bd · 2.0 ba · 1,650 sqft · Other · 1 Days on market

Built 1900 1.70 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large lot & home near town. Privately set back from Main Street. Much potential as a 2 unit or possibly a single family. Foundation work needed along with roof and other major work needed.

Key facts

• 1.7 acre lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 22.0% vs local median 2.4% in Searsport — 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 66/100 on livability (#107 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A; Watch: health & safety C-, schools D-, amenities F.
• RSU 20 (rural): math 75% / reading 82% proficiency, ranked #90 of 112 in ME (top 80%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 37 active listings in the ZIP; 143 units permitted in Waldo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Waldo County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $26k; list at $65k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.78% ✓
• Cap rate: 21.97%
• Cash-on-cash: 56.00%
• DSCR: 3.49
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 49.6%
• Equity multiple: 3.17×
• Total profit: $39,404
• Equity at exit: $9,677

10-year hold

• IRR: 55.1%
• Equity multiple: 6.45×
• Total profit: $98,998
• Equity at exit: $5,611

Cash invested: $18,172 (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 04974

• Home prices YoY: -8.6%
• Active inventory: 37
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,802 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$208 /mo · $2,495/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $782

Break-even live

Break-even rent $812

Max offer price $64,900

Occupancy floor 52%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2025-05-11
   status Pending
2. 2025-05-11
   listed $64,900 Active
3. 2017-05-08
   soldstatus $26,000 Sold 194-char remark

   Show marketing remark (194 chars)

   Large lot & home near town. Privately set back from Main Street. Much potential as a 2 unit or possibly a single family. Foundation work needed along with roof and other major work needed.

4. 2017-02-16
   status Pending 194-char remark

   Show marketing remark (194 chars)

   Large lot & home near town. Privately set back from Main Street. Much potential as a 2 unit or possibly a single family. Foundation work needed along with roof and other major work needed.

5. 2017-02-09
   historical

   Show marketing remark (194 chars)

   Large lot & home near town. Privately set back from Main Street. Much potential as a 2 unit or possibly a single family. Foundation work needed along with roof and other major work needed.

6. 2017-02-09
   listed $24,900 Active 194-char remark

   Show marketing remark (194 chars)

   Large lot & home near town. Privately set back from Main Street. Much potential as a 2 unit or possibly a single family. Foundation work needed along with roof and other major work needed.

7. 2017-02-07
   listed $24,900 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: $2,495 · $208/mo
• Projected year-2 tax: $2,495 · $208/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 16 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: $21,619
• − Mortgage interest: −$3,635
• − Property taxes: −$2,495
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,730
• − Management: −$1,730
• − Depreciation: −$1,888
• Taxable income: $9,020
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $7,213/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 20
• NCES district ID: 2314791
• Math proficiency: 75% ▲ 49.00%
• Reading proficiency: 82% ▲ 41.00%
• Median HH income: $41,249
• Composite: 65.56/100
• National rank: #467
• State rank: #90 of 112 in ME

Livability — Searsport

• Score: 66/100
• State rank: #107
• US rank: #12181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Searsport, ME
• City population: 2,649
• Population (ZIP): 2,649

Population outlook (Waldo County) Hauer SSP2

• Today (2025): 39,611 people
• By 2030: 39,475 · -0.3%
• By 2040: 38,245 · -3.4%
• By 2050: 36,078 · -8.9%
• By 2075: 29,774 · -24.8%
• By 2100: 22,172 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 8% Two or more races 3%
• Hispanic origin (detail): Puerto Rican 5% Cuban 1%
• Common ancestry: Slovak 11% Lithuanian 9% Serbian 5%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Waldo

• 2024 margin: Toss-up / Even · D 50.4% · R 47.0% · Other 2.6%
• 2008→2024 swing: -8.3pp toward R · 2008: 11.6pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+4.7 2016: D+0.3 2012: D+10.7 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.07%
• Current HPI: 214.4219
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+160.6% since first listed

7 events — show timeline

• 2025-05-11 Pending — MREIS
• 2025-05-11 Listed $64,900 MREIS
• 2017-05-08 Sold (MLS) $26,000 MREIS
• 2017-02-16 Pending — MREIS
• 2017-02-09 Delisted — MREIS
• 2017-02-09 Listed $24,900 MREIS
• 2017-02-07 Listed $24,900 MREIS

Property tax history

+0.2%/yr

Latest (2025): $2,495 · -16.6% YoY. Source: county tax records.