Real Estate Investing in Carroll Plantation, Maine (04487)
Should you buy in 04487 (Carroll Plantation, ME)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 61.8% of homes vacant — above national norms.
- Higher unemployment: 8.8% unemployment — tenant risk signal.
- Lower household income: $39,417 median — tenant affordability is tighter.
What’s happening in Carroll Plantation, ME (04487)?
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Market Analysis: 04487 Carroll Plantation
From an investor standpoint, ZIP 04487 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $191K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 04487 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Carroll Plantation have seen price recovery that 04487 has not matched. Penobscot County data supports the view that the spread is structural rather than temporary.
In practical terms, 742 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.
Experienced landlords with local relationships tend to find 04487 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Carroll Plantation:
Market Trends
Home Value History (with trend line)
📊 How Does 04487 Compare?
| Metric | 04487 | Carroll Plantation | Bangor, ME | Maine |
|---|---|---|---|---|
| Home Value | $190,870 | $190,870 | N/A | $401,109 |
| 5-Year CAGR | N/A | N/A | N/A | 8.6% |
| Avg Rent | $1,467 | $1,467 | N/A | - |
| Cap Rate | 6.0% | 6.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04487 (Carroll Plantation, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $190,870 |
| Monthly Rent | $1,467 |
| Price-to-Rent | 10.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.2% |
| Cap Rate | 6.0% |
| 5-Year IRR | 13.2% |
📈 Home Appreciation
| 1-Year | +7.2% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) is close to the estimated cap rate (6.0%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 04487
Population: 742
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
Frequently Asked Questions
Do rentals sit vacant long in Carroll Plantation, ME?
Expect elevated vacancy in Carroll Plantation, ME. Rents at $1,467/mo are absorbed by the tenant base without meaningful lag.
Where do rents currently stand in Carroll Plantation, ME?
Investors in Carroll Plantation, ME typically see rents near $1,467/mo per month against $191K home values - a solid setup for rental cash flow.
How deep is the rental pool in Carroll Plantation, ME?
Expect a solid tenant pool in Carroll Plantation, ME. The rental market absorbs $1,467/mo rents without meaningful friction.
Is Carroll Plantation, ME good for landlords?
Carroll Plantation, ME falls under ME landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What type of investing works in Carroll Plantation, ME?
A careful cash-flow rentals with hands-on management strategy Carroll Plantation, ME best. The market produces reliable results for that approach at the $191K price point.
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