Real Estate Investing in Chebeague Island, Maine (04017)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04017 (Chebeague Island, 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: 50.7% of homes vacant — above national norms.
• 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 Chebeague Island, ME (04017)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 04017 Chebeague Island
The 04017 ZIP in Chebeague Island, ME is a local-operator market. Outside capital chasing a $663K entry has to pair deep knowledge with the discount.
Looking more closely, the numbers look inviting — $663K purchase price, 0.0% nominal cap — the work to hit that pro forma in 04017 is substantial and deserves full respect.
In the broader ME picture, 04017 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 04017 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 04017 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 Chebeague Island:
Property Strategy for 04017
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $498,986 | $2,860 | 4.1% | — | $249,493 |
| 3BR | $667,887 | $3,480 | 3.8% | +10.0% | $222,629 |
| 4BR | $847,909 | $3,790 | 3.2% | — | $211,977 |
Market Trends
Home Value History (with trend line)
📊 How Does 04017 Compare?
| Metric | 04017 | Chebeague Island | Maine |
|---|---|---|---|
| Home Value | $662,724 | $662,724 | $401,109 |
| 5-Year CAGR | 5.2% | 5.2% | 8.6% |
| Avg Rent | $2,574 | $2,574 | - |
| Cap Rate | 3.0% | 3.0% | - |
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 04017 (Chebeague Island, 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 | $662,724 |
| Monthly Rent | $2,574 |
| Price-to-Rent | 21.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +3.6% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 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 (6.8%) exceeds the estimated cap rate (3.0%). 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 04017
Population: 568
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 04017
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Cliff Island School
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 2,551 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Chebeague Island, ME?
The median home value in Chebeague Island, ME is roughly $663K. That puts it reasonable relative to the ME statewide average.
How deep is the rental pool in Chebeague Island, ME?
Expect a solid tenant pool in Chebeague Island, ME. The rental market absorbs $2,574/mo rents without meaningful friction.
Does Chebeague Island, ME favor landlords or tenants?
Rental owners in Chebeague Island, ME deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What real estate strategy is ideal for Chebeague Island, ME?
Chebeague Island, ME investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($663K prices, $2,574/mo rents) make it a reasonable choice.
Is Chebeague Island in ME worth investing in?
Our data puts Chebeague Island, ME at 3.0/5 for investability. Home prices of $663K and rents around $2,574/mo create a solid backdrop for investor activity.
You know 04017 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 04017 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.
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Community Ratings
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