36 Sherman St · Island Falls, ME 04747

$169,900

3 bd · 2.0 ba · 1,928 sqft · MultiFamily public records · 300 Days on market

Built 1900 0.36 ac lot $88/sqft · 95% above area

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Why this score? — see what drove the C- 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 +17.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +5.6/10.0
• 1% rule +4.0/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Early 1900's Victorian Home located on 0.36 acre lot in Island Falls. This vintage home has the original curved walls that were typical for the time and we don't see in modern homes. Beautiful tin ceiling in the updated kitchen. Formal dining room and parlor plus full bath/laundry complete the first floor. Second floor has two bedrooms and half bath (plenty of room to add a tub/shower) plus a bonus room that could be turned into a third bedroom. The attached 25'x27' carriage house has three stories. The basement has been used to store vehicles over the winter; the main level is used as vehicle storage and workshop and the unfinished third floor has great storage space or playroom. Water source is public and the septic was installed in 2017 and designed with concrete supports so vehicles could be driven into the basement garage. Metal roof was installed in 2018. Pellet stove and 2 heat pumps keep this home cozy in the winter months. Many updates have been made, while the charm of the older home has been preserved. Four wheeler and snowsled trails go right by this home!

Key facts

• Curved walls
• Tin ceiling
• Victorian home

Tags

• VICTORIAN HOME
• CURVED WALLS
• TIN CEILING
• ATTACHED CARRIAGE HOUSE
• VEHICLE STORAGE
• GREAT STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (10.0% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• RSU 50 (rural): math 30% / reading 55% proficiency, ranked #103 of 185 in ME (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 112 units permitted in Aroostook County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (4.4% local appreciation)).
• Aroostook County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 300 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $170k implies a 305% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.90% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 9.3

CMA / ARV

• ARV (median comp): $66,688
• List price: $169,900
• Delta: 154.77%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

4.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.89×
• Total profit: $42,203
• Equity at exit: $90,015

10-year hold

• IRR: 15.3%
• Equity multiple: 3.58×
• Total profit: $122,759
• Equity at exit: $150,404

Cash invested: $47,572 (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 04747

• Home prices YoY: 2.6%
• Active inventory: 28
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$105 /mo · $1,256/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $141

Break-even live

Break-even rent $1,350

Max offer price $169,900

Occupancy floor 86%

Sensitivity live

Price	-10% $237	-5% $189	+0% $141	+5% $93	+10% $45
Rent	-10% $20	-5% $81	+0% $141	+5% $201	+10% $262
Rate	-1.0pp $226	-0.5pp $184	base $141	+0.5pp $97	+1.0pp $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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $169,900 Active 300 DOM
2. 2026-06-21
   days on market $169,900 Active 299 DOM
3. 2026-06-18
   days on market $169,900 Active 297 DOM
4. 2026-06-17
   days on market $169,900 Active 296 DOM
5. 2026-06-16
   days on market $169,900 Active 295 DOM
6. 2026-06-15
   days on market $169,900 Active 294 DOM
7. 2026-06-13
   days on market $169,900 Active 292 DOM
8. 2026-06-12
   days on market $169,900 Active 291 DOM
9. 2026-06-09
   days on market $169,900 Active 288 DOM
10. 2026-06-08
    days on market $169,900 Active 287 DOM
11. 2026-06-07
    days on market $169,900 Active 286 DOM
12. 2026-06-05
    days on market $169,900 Active 284 DOM
13. 2026-06-04
    days on market $169,900 Active 282 DOM
14. 2026-06-02
    days on market $169,900 Active 281 DOM
15. 2026-06-01
    days on market $169,900 Active 280 DOM
16. 2026-05-31
    days on market $169,900 Active 279 DOM
17. 2026-05-31
    days on market $169,900 Active 278 DOM
18. 2025-08-25
    listed $169,900 Active 1086-char remark

    Show marketing remark (1086 chars)

    Early 1900's Victorian Home located on 0.36 acre lot in Island Falls. This vintage home has the original curved walls that were typical for the time and we don't see in modern homes. Beautiful tin ceiling in the updated kitchen. Formal dining room and parlor plus full bath/laundry complete the first floor. Second floor has two bedrooms and half bath (plenty of room to add a tub/shower) plus a bonus room that could be turned into a third bedroom. The attached 25'x27' carriage house has three stories. The basement has been used to store vehicles over the winter; the main level is used as vehicle storage and workshop and the unfinished third floor has great storage space or playroom. Water source is public and the septic was installed in 2017 and designed with concrete supports so vehicles could be driven into the basement garage. Metal roof was installed in 2018. Pellet stove and 2 heat pumps keep this home cozy in the winter months. Many updates have been made, while the charm of the older home has been preserved. Four wheeler and snowsled trails go right by this home!

19. 2013-03-12
    soldstatus $41,900 230-char remark

    Show marketing remark (230 chars)

    Island Falls Victorian home with original tin ceiling in updated kitchen. 2 full baths, 2 bedrooms. Attached carriage house with storage on second floor. Many updates completed in this charming house. Immediate occupancy possible.

20. 2013-03-12
    soldstatus $41,900

    Show marketing remark (230 chars)

    Island Falls Victorian home with original tin ceiling in updated kitchen. 2 full baths, 2 bedrooms. Attached carriage house with storage on second floor. Many updates completed in this charming house. Immediate occupancy possible.

ⓘ 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: $1,256 · $105/mo
• Projected year-2 tax: $1,783 · $149/mo
• Expected delta: +$527/yr (+$44/mo · 42.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $18,340
• − Mortgage interest: −$9,517
• − Property taxes: −$1,256
• − Insurance: −$850
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$4,943
• Taxable loss: −$1,160
• Est. tax savings @ 24.0%: +$278
• After-tax cash flow: $1,970/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 50
• NCES district ID: 2314806
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $36,091
• Composite: 37.51/100
• National rank: #8882
• State rank: #103 of 185 in ME

Livability — Island Falls

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Island Falls, ME
• Population (ZIP): 1,318

Population outlook (Aroostook County) Hauer SSP2

• Today (2025): 61,905 people
• By 2030: 57,815 · -6.6%
• By 2040: 49,240 · -20.5%
• By 2050: 41,386 · -33.1%
• By 2075: 27,664 · -55.3%
• By 2100: 18,974 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Native American 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Slovak 12% Lithuanian 10% Polish 5%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Chinese 2% German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Aroostook

• 2024 margin: Strong R (+26.2) · D 36.2% · R 62.4% · Other 1.4%
• 2008→2024 swing: -35.8pp toward R · 2008: 9.6pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+19.9 2016: R+17.3 2012: D+7.7 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.39%
• Current HPI: 170.9479
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+305.5% since first listed

3 events — show timeline

• 2025-08-25 Listed $169,900 MREIS
• 2013-03-12 Sold (Public Records) $41,900 Public Records
• 2013-03-12 Sold (MLS) $41,900 MREIS

Property tax history

+2.4%/yr

Latest (2025): $1,256 · -13.3% YoY. Source: county tax records.