Real Estate Investing in Hope, Maine (04847)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04847 (Hope, 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: 19.6% 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 Hope, ME (04847)?
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Market Analysis: 04847 Hope
ZIP 04847 inside Knox County looks affordable on the surface — median value of $405K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 04847 is notable only for operators who understand what they are buying. A $405K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 04847's metrics run below Knox County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 04847 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Hope:
Property Strategy for 04847
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $349,646 | $1,530 | 3.2% | — | $174,823 |
| 3BR | $451,993 | $1,930 | 3.1% | — | $150,664 |
Market Trends
Home Value History (with trend line)
📊 How Does 04847 Compare?
| Metric | 04847 | Hope | Maine |
|---|---|---|---|
| Home Value | $405,492 | $405,492 | $401,109 |
| 5-Year CAGR | 4.9% | 4.9% | 8.6% |
| Avg Rent | $1,377 | $1,377 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04847 (Hope, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $405,492 |
| Monthly Rent | $1,377 |
| Price-to-Rent | 24.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 04847
Population: 1,711
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 04847
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
Are tenants stable in Hope, ME?
Hope, ME draws a measured base of working renters. Demand at the $1,377/mo rent level is reasonable for standard single-family and small multi rentals.
Is Hope, ME a good market for buy-and-hold investors?
Investors tracking Hope, ME will find a 3.0/5 rating supported by $405K median home values and $1,377/mo rents. That profile suits long-term holders targeting measured returns.
How quickly do rentals get leased in Hope, ME?
Hope, ME carries elevated vacancy risk. Expect reliable absorption at market rents of $1,377/mo.
Is Hope, ME landlord-friendly?
ME ranks as a landlord-friendly state for landlord-tenant law. Hope generally follows the statewide framework, so landlords face reasonable operating rules.
How much does a house cost in Hope, ME?
Homes in Hope, ME typically sell near $405K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
You know 04847 now. You don’t know where it ranks.
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