Real Estate Investing in Bar Harbor, Maine (04609)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04609 (Bar Harbor, ME)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 30.5% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 36.4 — 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 Bar Harbor, ME (04609)?
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Market Analysis: 04609 Bar Harbor
ZIP 04609 in Bar Harbor, ME carries a notable set of headwinds. Home values near $679K and rents of $1,557/mo sit inside a market where underwriting has to be tight.
The investment case in 04609 is solid only for operators who understand what they are buying. A $679K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within ME, ZIP 04609 trails on several market indicators that neighboring Hancock County submarkets outperform. The gap is real and substantial enough to shape underwriting.
A resilient renter share of 30% in 04609 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 04609 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 Bar Harbor:
Property Strategy for 04609
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $382,053 | $1,420 | 2.7% | +9.0% | $382,053 |
| 2BR | $532,390 | $1,730 | 2.3% | +9.1% | $266,195 |
| 3BR | $652,197 | $2,360 | 2.6% | +9.3% | $217,399 |
| 4BR | $767,000 | $2,370 | 2.2% | +9.9% | $191,750 |
| 5BR | $1,157,658 | — | — | +8.5% | $231,532 |
Market Trends
Home Value History (with trend line)
📊 How Does 04609 Compare?
| Metric | 04609 | Bar Harbor | Maine |
|---|---|---|---|
| Home Value | $679,452 | $679,452 | $401,109 |
| 5-Year CAGR | 6.2% | 6.2% | 8.6% |
| Avg Rent | $1,557 | $1,557 | - |
| Cap Rate | 1.8% | 1.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04609 (Bar Harbor, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $679,452 |
| Monthly Rent | $1,557 |
| Price-to-Rent | 36.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.8% |
| Cap Rate | 1.8% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (1.8%). 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 04609
Population: 5,198
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 04609
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Does Bar Harbor, ME make sense for an investment property?
With a 3.0/5 investability score, Bar Harbor, ME ranks as a solid market for rental property investors. Median prices of $679K and rents of $1,557/mo drive the underlying numbers.
What is the typical vacancy rate in Bar Harbor, ME?
Bar Harbor, ME vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Are eviction rules reasonable in Bar Harbor, ME?
For rental operators, Bar Harbor, ME rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How viable is house hacking in Bar Harbor, ME?
House hacking in Bar Harbor, ME is a challenging. With home values around $679K and rents at $1,557/mo, owner-occupants can offset a meaningful share of PITI.
What do landlords charge for rent in Bar Harbor, ME?
Expect rents around $1,557/mo per month in Bar Harbor, ME. With home values at $679K, the yield math works out to reasonable levels for rental investors.
You know 04609 now. You don’t know where it ranks.
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