Real Estate Investing in Harpswell, Maine (04003)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04003 (Harpswell, ME)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 81.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 40.0 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Harpswell, ME (04003)?
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Market Analysis: 04003 Harpswell
The 04003 ZIP covers a section of Harpswell that demands careful diligence. Prices near $864K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 04003 can be a a credible choice for hunting ground — but the discount at $864K reflects genuine risk that outside investors often underestimate.
Looking more closely, 04003 offers a low basis, the region around Harpswell has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 04003 includes headwinds that any investor should price in. Income distribution skews lower than Harpswell averages, and tenant stability requires active management.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Harpswell:
Market Trends
Home Value History (with trend line)
📊 How Does 04003 Compare?
| Metric | 04003 | Harpswell | Portland-South Portland, ME | Maine |
|---|---|---|---|---|
| Home Value | $864,174 | $775,100 | N/A | $401,109 |
| 5-Year CAGR | 5.1% | 5.5% | N/A | 8.6% |
| Avg Rent | $1,800 | $1,689 | N/A | - |
| Cap Rate | 1.6% | 1.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04003 (Harpswell, ME). Anonymous, moderated, never written by AI.
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Property managers serving Cumberland County
Manage rentals here? List your business →Port Property offers apartments for rent and commercial property management services in Portland, South Portland, and Biddeford, Maine. summary from their website
Schneider Property Management, part of HomeRiver Group, offers property management, brokerage, rehab and construction, leasing, and maintenance services for single-family and multi-family properties. summary from their website
Aquarius Property Management offers property management services in Greater Portland, including Portland, South Portland, Falmouth, Cape Elizabeth, and Scarborough. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $864,174 |
| Monthly Rent | $1,800 |
| Price-to-Rent | 40.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (1.6%). 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 04003
Population: 90
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
🎓 Nearby Colleges & Universities
Investor Insight: With 1,844 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much rent can I charge in Harpswell, ME?
Rents in Harpswell, ME run near $1,800/mo. Compared with median home prices of $864K that produces solid gross yields for typical rentals.
What is the tenant pool like in Harpswell, ME?
The tenant pool in Harpswell, ME is solid, supported by local employment and population fundamentals. Rents of $1,800/mo are well-absorbed by the market.
How high is vacancy risk in Harpswell, ME?
Vacancy risk in Harpswell, ME is elevated. That supports measured cash flow for typical rental holds.
Are homes affordable in Harpswell, ME?
Harpswell, ME home values average about $864K. That price point suits investors targeting rentals with $1,800/mo in monthly income.
Is Harpswell in ME worth investing in?
Investors tracking Harpswell, ME will find a 3.0/5 rating supported by $864K median home values and $1,800/mo rents. That profile suits long-term holders targeting reliable returns.
You know 04003 now. You don’t know where it ranks.
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How 04003 ranks in Portland-South Portland, ME
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