Real Estate Investing in Hallowell, Maine (04347)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04347 (Hallowell, ME)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 26.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hallowell, ME (04347)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 04347 Hallowell
Looking more closely, ZIP 04347 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $387K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 04347 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Hallowell have seen price recovery that 04347 has not matched. Kennebec County data supports the view that the spread is structural rather than temporary.
A durable renter share of 43% in 04347 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 04347 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Hallowell:
Property Strategy for 04347
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $335,697 | $1,330 | 2.9% | +9.5% | $167,848 |
| 3BR | $359,952 | $1,710 | 3.4% | +9.1% | $119,984 |
| 4BR | $415,520 | $2,030 | 3.5% | +8.6% | $103,880 |
Market Trends
Home Value History (with trend line)
📊 How Does 04347 Compare?
| Metric | 04347 | Hallowell | Augusta-Waterville, ME | Maine |
|---|---|---|---|---|
| Home Value | $386,856 | $386,856 | N/A | $401,109 |
| 5-Year CAGR | 6.0% | 6.0% | N/A | 8.6% |
| Avg Rent | $1,197 | $1,197 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
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 04347 (Hallowell, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $386,856 |
| Monthly Rent | $1,197 |
| Price-to-Rent | 26.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (2.4%). 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 04347
Population: 2,570
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 04347
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Hall-Dale Middle and High 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 2,027 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Hallowell, ME favor landlords or tenants?
For rental operators, Hallowell, ME rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How viable is house hacking in Hallowell, ME?
Hallowell, ME is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $387K price point reasonable to enter.
How much does a house cost in Hallowell, ME?
The median home value in Hallowell, ME is roughly $387K. That puts it reasonable relative to the ME statewide average.
What approach is best for Hallowell, ME real estate?
For Hallowell, ME, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Are renters plentiful in Hallowell, ME?
The tenant pool in Hallowell, ME is solid, supported by local employment and population fundamentals. Rents of $1,197/mo are well-absorbed by the market.
You know 04347 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 04347 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 04347 ranks in Augusta-Waterville, ME
Every ZIP in this metro, ranked. Free.
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