Real Estate Investing in Harrison, Maine (04040)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04040 (Harrison, 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: 34.7% 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 Harrison, ME (04040)?
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Market Analysis: 04040 Harrison
Put differently, ZIP 04040 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $417K median. It rewards specialists, not generalists.
For an experienced owner, 04040 can be a a strong candidate for hunting ground — but the discount at $417K reflects genuine risk that outside investors often underestimate.
Within ME, ZIP 04040 trails on several market indicators that neighboring Cumberland County submarkets outperform. The gap is real and durable enough to shape underwriting.
Employment concentration in 04040 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 04040 is an operator game, not a passive one. Put differently, entry prices of $417K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Harrison:
Property Strategy for 04040
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $333,710 | $1,580 | 3.4% | +8.1% | $166,855 |
| 3BR | $399,644 | $1,980 | 3.6% | +8.0% | $133,215 |
| 4BR | $561,592 | $2,410 | 3.1% | +8.7% | $140,398 |
Market Trends
Home Value History (with trend line)
📊 How Does 04040 Compare?
| Metric | 04040 | Harrison | Portland-South Portland, ME | Maine |
|---|---|---|---|---|
| Home Value | $416,898 | $416,898 | N/A | $401,109 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 8.6% |
| Avg Rent | $1,422 | $1,422 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 04040 (Harrison, 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 | $416,898 |
| Monthly Rent | $1,422 |
| Price-to-Rent | 24.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +16.6% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (2.7%). 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 04040
Population: 2,963
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 04040
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.
Frequently Asked Questions
What is the typical home price in Harrison, ME?
The median home value in Harrison, ME is roughly $417K. That puts it reasonable relative to the ME statewide average.
What real estate strategy is ideal for Harrison, ME?
The best-fit strategy in Harrison, ME is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the renter demographic in Harrison, ME?
The renter base in Harrison, ME is reasonable for the $1,422/mo price point. Screening well and pricing to market typically yields reliable tenants.
Is real estate in Harrison, ME a good investment right now?
Investors tracking Harrison, ME will find a 3.0/5 rating supported by $417K median home values and $1,422/mo rents. That profile suits long-term holders targeting even-keeled returns.
How do landlord-tenant laws work in Harrison, ME?
The landlord environment in Harrison, ME is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 04040 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 04040 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 04040 ranks in Portland-South Portland, ME
Every ZIP in this metro, ranked. Free.
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