Real Estate Investing in Casco, Maine (04015)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04015 (Casco, 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.
- High vacancy: 40.0% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Casco, ME (04015)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 04015 Casco
ZIP 04015 inside Cumberland County looks affordable on the surface — median value of $454K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 04015 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader ME picture, 04015 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
From a cash-flow lens, 3,656 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 04015 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Casco:
Property Strategy for 04015
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $292,318 | $1,410 | 3.5% | +7.8% | $292,318 |
| 2BR | $374,943 | $1,810 | 3.5% | +7.9% | $187,472 |
| 3BR | $413,409 | $2,220 | 3.9% | +7.8% | $137,803 |
| 4BR | $508,741 | $2,490 | 3.5% | +8.2% | $127,185 |
Market Trends
Home Value History (with trend line)
📊 How Does 04015 Compare?
| Metric | 04015 | Casco | Portland-South Portland, ME | Maine |
|---|---|---|---|---|
| Home Value | $454,012 | $454,012 | N/A | $401,109 |
| 5-Year CAGR | 6.4% | 6.4% | N/A | 8.6% |
| Avg Rent | $1,629 | $1,629 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04015 (Casco, 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 | $454,012 |
| Monthly Rent | $1,629 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +12.1% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 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 04015
Population: 3,656
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 04015
Schools in This ZIP Code
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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
Frequently Asked Questions
What are vacancy rates like in Casco, ME?
Casco, ME carries elevated vacancy risk. Expect stable absorption at market rents of $1,629/mo.
Is it easy to find good tenants in Casco, ME?
Tenant quality in Casco, ME ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,629/mo.
What is the typical rental rate in Casco, ME?
Rent in Casco, ME is around $1,629/mo. The resulting rent-to-value relationship with $454K pricing is reasonable for most investor models.
Can owner-occupants cash flow in Casco, ME?
House hacking in Casco, ME is a challenging. With home values around $454K and rents at $1,629/mo, owner-occupants can offset a meaningful share of PITI.
Is Casco, ME a smart market for rental property?
Yes - Casco, ME a 3.0/5 investability score. With $454K home prices against $1,629/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 04015 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 04015 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 04015 ranks in Portland-South Portland, ME
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