Real Estate Investing in Cornish, Maine (04020)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04020 (Cornish, 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: 12.8% 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 Cornish, ME (04020)?
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Market Analysis: 04020 Cornish
The 04020 ZIP covers a section of Cornish that demands careful diligence. Prices near $401K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $401K asset, 04020 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 04020 and stronger Cornish ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 04020 includes headwinds that any investor should price in. Income distribution skews lower than Cornish averages, and tenant stability requires active management.
New investors are better served looking at Cornish's stable or hybrid ZIPs before stepping into 04020. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Cornish:
Property Strategy for 04020
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $325,837 | $1,710 | 3.8% | +8.8% | $162,918 |
| 3BR | $390,281 | $2,290 | 4.2% | +8.1% | $130,094 |
| 4BR | $433,044 | $2,550 | 4.2% | +8.1% | $108,261 |
Market Trends
Home Value History (with trend line)
📊 How Does 04020 Compare?
| Metric | 04020 | Cornish | Portland-South Portland, ME | Maine |
|---|---|---|---|---|
| Home Value | $400,960 | $400,960 | N/A | $401,109 |
| 5-Year CAGR | 6.5% | 6.5% | N/A | 8.6% |
| Avg Rent | $1,539 | $1,539 | N/A | - |
| 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 04020 (Cornish, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $400,960 |
| Monthly Rent | $1,539 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 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 (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 04020
Population: 1,948
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
What are home prices like in Cornish, ME?
In Cornish, ME the median home value sits at $401K. Against the broader ME market, that reads as reasonable for most investors.
What is the typical renter like in Cornish, ME?
The renter base in Cornish, ME is reasonable for the $1,539/mo price point. Screening well and pricing to market typically yields stable tenants.
What do landlords charge for rent in Cornish, ME?
The typical rental in Cornish, ME commands about $1,539/mo monthly. That rent profile stable cash flow against the $401K purchase basis.
How do landlord-tenant laws work in Cornish, ME?
The landlord environment in Cornish, ME is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Which investment style suits Cornish, ME?
In Cornish, ME the resilient play is typically careful cash-flow rentals with hands-on management. The combination of $401K prices and $1,539/mo rents suits that approach.
You know 04020 now. You don’t know where it ranks.
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How 04020 ranks in Portland-South Portland, ME
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