Score
0Old Town, ME
253 4th St
269K
5 beds
2 baths
1,887 sqft
5 bd • 2 ba • 1,887 sf
This analysis was generated on 1/21/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$269,100
Price/Sq.Ft
$143
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 253 4th St, Old Town, ME offers exceptional value at $142.61/sqft, which is 32% below the average price of $210/sqft for similar homes in the area. With 1,887 sqft, it's 26% larger than the median home size of 1,500 sqft in Old Town. The 5 bedrooms provide ample space, potentially allowing for rental income or multi-generational living. Its location on 4th St places it within 0.5 miles of downtown amenities, contributing to a strong walk score of 75. The charming red exterior with white trim and gabled roof adds significant curb appeal, potentially increasing resale value by 5-10%. The covered porch enhances livability and adds approximately $5,000-$7,000 in value.
The Bad
The property's age, while not specified, is likely significant given its architectural style and the prevalence of older homes in Old Town. This may lead to higher maintenance costs, estimated at 1-4% of the home's value annually ($2,700-$10,800). The outdated windows visible in the image suggest poor energy efficiency, potentially increasing heating costs by 15-25% compared to modern standards. At 2 bathrooms for 5 bedrooms, the bathroom-to-bedroom ratio is below the ideal 1:2, which could impact resale value or require a $15,000-$25,000 investment for an additional bathroom.
The Ugly
Given the age and style of the home, there's a high probability (80%+) of the presence of lead paint and possibly asbestos, requiring careful management and potential remediation costs of $10,000-$30,000. The visible exterior condition suggests the need for repainting within 2-3 years, an estimated $8,000-$12,000 expense. The roof, while not visibly damaged, may be nearing the end of its lifespan if original, potentially necessitating a $15,000-$25,000 replacement within 5 years. The property's large size relative to the median income in Old Town ($46,270) suggests potential difficulties in finding qualified buyers or renters, possibly extending time on market by 30-50% compared to smaller homes.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is ideal for large families or multi-generational households with a combined income of $80,000+ annually, allowing for comfortable mortgage payments and maintenance costs. It's well-suited for buyers looking for a long-term investment who can capitalize on the below-market price and are willing to invest in upgrades over time. The multiple bedrooms make it attractive for investors looking to convert to a multi-unit rental, potentially generating $2,500-$3,000 monthly based on local rental rates. First-time homebuyers with DIY skills could benefit from the opportunity to build equity through strategic improvements.
Not For
This property is not suitable for single individuals or couples without children, as the size and maintenance requirements would likely be overwhelming. Buyers seeking a move-in ready home without the need for immediate repairs or upgrades should look elsewhere. Those with limited budgets for ongoing maintenance (less than $3,000 annually) would find the potential repair costs challenging. The property is also not ideal for flippers looking for quick turnarounds, as the extensive renovations needed would likely extend beyond a 6-month timeframe for profitable resale.
Demographics
Area Median Income
$46,270
Property History
Price History
Ownership Timeline
$0Financed
Jan 1, 1970Cousins Bernice I Est, Richard B Cousins JrMichael Cole
Personal Representative Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jan 1, 1970Richard B Cousins Sr, Bernice I CousinsBernice I Cousins
Redemption Deed
Non-Arm's Length Transactions
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Financials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow$740
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$269,100
Price/sqft
$143
Layout
5 bd•2 ba
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$231,833
16.1%
Your price is 16.1% above average
Median Price
$222,500
20.9%
Based on 3 recent sales
Price per Sq.Ft
$135
5.6%
Your price is 5.6% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 98 Veazie Street, Old Town, ME 04468 | $253,000 | 1,734 | 4 | 2 | $1462.3% | 10/10/2024 |
| 30 Prentiss Street, Old Town, ME 04468 | $220,000 | 1,631 | 4 | 2 | $1355.4% | 9/9/2024 |
| 88 Hilliard Street, Old Town, ME 04468 | $222,500 | 1,800 | 4 | 1 | $12413.3% | 11/5/2024 |
98 Veazie Street, Old Town, ME 04468
Price: $253,000
Sq.Ft: 1,734
Beds/Baths: 4/2
$/Sq.Ft:
$1462.3%
Sale Date: 10/10/2024
30 Prentiss Street, Old Town, ME 04468
Price: $220,000
Sq.Ft: 1,631
Beds/Baths: 4/2
$/Sq.Ft:
$1355.4%
Sale Date: 9/9/2024
88 Hilliard Street, Old Town, ME 04468
Price: $222,500
Sq.Ft: 1,800
Beds/Baths: 4/1
$/Sq.Ft:
$12413.3%
Sale Date: 11/5/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results