200 Back St · Winthrop, ME 04265

$65,000

2 bd · 1.0 ba · 836 sqft · SingleFamily public records · 9 Days on market

Built 1962 2.00 ac lot ↓ 28% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.2/10.0
• Appreciation +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

Key facts

• 2 acre lot
• Garage
• Built 1962

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 14.2% vs local median 2.1% in Winthrop — 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 69/100 on livability (#76 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A, housing A; Watch: health & safety C-, employment D, amenities F.
• RSU 02 (rural): math 83% / reading 87% proficiency, ranked #52 of 112 in ME (top 46%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 9 active listings in the ZIP; 460 units permitted in Kennebec County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($449 loan paydown + $910 appreciation (1.4% local appreciation)).
• Kennebec County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1962 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.91% ✓
• Cap rate: 14.21%
• Cash-on-cash: 28.26%
• DSCR: 2.26
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 2.64×
• Total profit: $29,879
• Equity at exit: $23,551

10-year hold

• IRR: 33.4%
• Equity multiple: 5.14×
• Total profit: $75,312
• Equity at exit: $32,378

Cash invested: $18,200 (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 04265

• Home prices YoY: 0.7%
• Active inventory: 9
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$182 /mo · $2,186/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $429

Break-even live

Break-even rent $696

Max offer price $65,000

Occupancy floor 60%

Sensitivity live

Price	-10% $465	-5% $447	+0% $429	+5% $410	+10% $392
Rent	-10% $331	-5% $380	+0% $429	+5% $478	+10% $527
Rate	-1.0pp $461	-0.5pp $445	base $429	+0.5pp $412	+1.0pp $395

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-01-17
   status Pending
2. 2026-01-08
   listed $65,000 Active
3. 2024-07-22
   price $65,000
4. 2024-07-08
   price $79,900
5. 2021-10-15
   soldstatus $135,000 Closed 427-char remark

   Show marketing remark (427 chars)

   Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

6. 2021-08-31
   status Pending 427-char remark

   Show marketing remark (427 chars)

   Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

7. 2021-08-26
   price $135,000 427-char remark

   Show marketing remark (427 chars)

   Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

8. 2021-08-26
   status Active 427-char remark

   Show marketing remark (427 chars)

   Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

9. 2021-08-05
   status Pending - Continue to Show 427-char remark

   Show marketing remark (427 chars)

   Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

10. 2021-08-02
    listed $140,000 Active 427-char remark

    Show marketing remark (427 chars)

    Great Location! This comfortable two bedroom ranch style home is situated on over 2 private acres. Beautiful level backyard with deck and fire pit. Open concept floor plan with Applianced kitchen, dining area and large Livingroom. Plus an enclosed front porch. Perfect for an office or den. Paved driveway and oversized one car garage for vehicles and storage. Updated systems and easy maintenance vinyl siding and metal roof.

11. 2008-04-28
    listed $89,900

ⓘ 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: $2,186 · $182/mo
• Projected year-2 tax: $2,186 · $182/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,868
• − Mortgage interest: −$3,641
• − Property taxes: −$2,186
• − Insurance: −$325
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$1,891
• Taxable income: $4,446
• Est. tax owed @ 24.0%: −$1,067
• After-tax cash flow: $4,077/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 02
• NCES district ID: 2314776
• Math proficiency: 83% ▲ 56.00%
• Reading proficiency: 87% ▲ 34.00%
• Median HH income: $52,565
• Composite: 72.04/100
• National rank: #208
• State rank: #52 of 112 in ME

Livability — Winthrop

• Score: 69/100
• State rank: #76
• US rank: #8395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,153
• Population (ZIP): 645

Population outlook (Kennebec County) Hauer SSP2

• Today (2025): 115,421 people
• By 2030: 111,852 · -3.1%
• By 2040: 103,757 · -10.1%
• By 2050: 95,710 · -17.1%
• By 2075: 78,172 · -32.3%
• By 2100: 59,500 · -48.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 7%
• Common ancestry: Lithuanian 18% Romanian 12% Scotch-Irish 2%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Kennebec

• 2024 margin: Toss-up / Even · D 47.5% · R 50.2% · Other 2.4%
• 2008→2024 swing: -17.5pp toward R · 2008: 14.8pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+0.2 2016: R+3.7 2012: D+13.5 2008: D+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.40%
• Current HPI: 207.7241
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-27.7% since first listed

11 events — show timeline

• 2026-01-17 Pending — MREIS
• 2026-01-08 Listed $65,000 MREIS
• 2024-07-22 Price Changed $65,000 MREIS
• 2024-07-08 Price Changed $79,900 MREIS
• 2021-10-15 Sold (MLS) $135,000 MREIS
• 2021-08-31 Pending — MREIS
• 2021-08-26 Price Changed $135,000 MREIS
• 2021-08-26 Relisted — MREIS
• 2021-08-05 Pending — MREIS
• 2021-08-02 Listed $140,000 MREIS
• 2008-04-28 Listed $89,900 MREIS

Property tax history

+3.7%/yr

Latest (2024): $2,186 · +13.0% YoY. Source: county tax records.