Real Estate Investing in Orono, Maine (04473)
Should you buy in 04473 (Orono, ME)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.0% of homes vacant — above national norms.
What’s happening in Orono, ME (04473)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 04473 Orono
Not every below-median market is a bargain. Orono's 04473 ZIP comes in at signals that favor experienced operators who can absorb the risk $313K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $313K asset, 04473 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 04473 sits on the difficult end of the ME spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Meanwhile, 8,383 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 04473 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Orono:
Property Strategy for 04473
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $300,524 | $2,290 | 5.5% | +9.8% | $100,175 |
| 4BR | $362,658 | $2,410 | 4.8% | — | $90,665 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 04473 Compare?
| Metric | 04473 | Orono | Bangor, ME | Maine |
|---|---|---|---|---|
| Home Value | $313,316 | $156,658 | N/A | $401,109 |
| 5-Year CAGR | 7.5% | 7.5% | N/A | 8.6% |
| Avg Rent | $1,867 | $1,867 | N/A | - |
| Cap Rate | 4.7% | 4.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04473 (Orono, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $313,316 |
| Monthly Rent | $1,867 |
| Price-to-Rent | 14.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.7% |
| 5-Year IRR | 12.1% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (4.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 04473
Population: 8,383
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 04473
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,240 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Orono, ME a good market for buy-and-hold investors?
Orono, ME scores 3.0/5 for investability. Home values sit at $313K and rents near $1,867/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How much rent can I charge in Orono, ME?
Rental rates in Orono, ME average $1,867/mo. Tenant demand and $313K home values make the yield look reasonable by investor standards.
What real estate strategy is ideal for Orono, ME?
The best-fit strategy in Orono, ME is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the median home value in Orono, ME?
Orono, ME home values average about $313K. That price point suits investors targeting rentals with $1,867/mo in monthly income.
Does a duplex house hack pencil in Orono, ME?
House hacking works a challenging in Orono, ME. Rents of $1,867/mo against $313K acquisition make the strategy solid for owner-occupants.
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