Real Estate Investing in Eliot, Maine (03903)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 03903 (Eliot, ME)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.1% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Eliot, ME (03903)?
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Market Analysis: 03903 Eliot
ZIP 03903 inside York County looks affordable on the surface — median value of $620K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 03903 is durable only for operators who understand what they are buying. A $620K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Looking more closely, 03903 offers a low basis, the region around Eliot has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 03903 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 03903 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 Eliot:
Property Strategy for 03903
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $490,978 | $2,470 | 3.6% | +7.5% | $245,489 |
| 3BR | $614,118 | $2,960 | 3.5% | +7.7% | $204,706 |
| 4BR | $728,064 | $4,140 | 4.1% | +8.0% | $182,016 |
Market Trends
Home Value History (with trend line)
📊 How Does 03903 Compare?
| Metric | 03903 | Eliot | Portland-South Portland, ME | Maine |
|---|---|---|---|---|
| Home Value | $619,861 | $619,861 | N/A | $401,109 |
| 5-Year CAGR | 4.6% | 4.6% | N/A | 8.6% |
| Avg Rent | $2,223 | $2,223 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 03903 (Eliot, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $619,861 |
| Monthly Rent | $2,223 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.4% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +4.6% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 03903
Population: 6,978
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 03903
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 1,433 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are homes affordable in Eliot, ME?
Eliot, ME home values average about $620K. That price point suits investors targeting rentals with $2,223/mo in monthly income.
Does Eliot, ME make sense for an investment property?
With a 3.0/5 investability score, Eliot, ME ranks as a solid market for rental property investors. Median prices of $620K and rents of $2,223/mo drive the underlying numbers.
Are eviction rules reasonable in Eliot, ME?
Eliot, ME falls under ME landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What is the average monthly rent in Eliot, ME?
Expect rents around $2,223/mo per month in Eliot, ME. With home values at $620K, the yield math works out to reasonable levels for rental investors.
How qualified is the tenant pool in Eliot, ME?
Expect a solid tenant pool in Eliot, ME. The rental market absorbs $2,223/mo rents without meaningful friction.
You know 03903 now. You don’t know where it ranks.
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How 03903 ranks in Portland-South Portland, ME
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