Real Estate Investing in Union, Maine (04862)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04862 (Union, 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: 16.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.1 — 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 Union, ME (04862)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 04862 Union
The 04862 ZIP in Union, ME is a local-operator market. Outside capital chasing a $398K entry has to pair deep knowledge with the discount.
The investment case in 04862 is substantial only for operators who understand what they are buying. A $398K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 04862'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.
The 04862 ZIP's population of 4,195 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
Experienced landlords with local relationships tend to find 04862 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Union:
Property Strategy for 04862
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $370,166 | $1,360 | 2.6% | +10.4% | $185,083 |
| 3BR | $396,430 | $1,720 | 3.1% | +10.0% | $132,143 |
| 4BR | $474,763 | $1,860 | 2.8% | +9.7% | $118,691 |
Market Trends
Home Value History (with trend line)
📊 How Does 04862 Compare?
| Metric | 04862 | Union | Maine |
|---|---|---|---|
| Home Value | $398,287 | $398,287 | $401,109 |
| 5-Year CAGR | 7.1% | 7.1% | 8.6% |
| Avg Rent | $1,224 | $1,224 | - |
| 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 04862 (Union, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $398,287 |
| Monthly Rent | $1,224 |
| Price-to-Rent | 27.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 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 04862
Population: 4,195
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 04862
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
What is the best play in Union, ME?
The best-fit strategy in Union, ME is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Should investors worry about vacancy in Union, ME?
Union, ME carries elevated vacancy risk. Expect predictable absorption at market rents of $1,224/mo.
Is rental property easy to operate in Union, ME?
ME ranks as a landlord-friendly state for landlord-tenant law. Union generally follows the statewide framework, so landlords face reasonable operating rules.
What is the renter demographic in Union, ME?
The renter base in Union, ME is reasonable for the $1,224/mo price point. Screening well and pricing to market typically yields measured tenants.
How much rent can I charge in Union, ME?
Average rent in Union, ME is approximately $1,224/mo per month. Against $398K home values that yields a reasonable rent-to-price ratio.
You know 04862 now. You don’t know where it ranks.
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