Real Estate Investing in Detroit, Maine (04929)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04929 (Detroit, 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 vacancy: 14.3% of homes vacant — above national norms.
- Elevated poverty: 25.2% poverty rate — can affect rent collection.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Detroit, ME (04929)?
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Market Analysis: 04929 Detroit
ZIP 04929 in Detroit, ME carries a sturdy set of headwinds. Home values near $248K and rents of $1,152/mo sit inside a market where underwriting has to be tight.
Rent of $1,152/mo on a $248K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 04929 sits below the stated 0.0% once reality is priced in.
In the broader ME picture, 04929 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 04929 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. healthy returns are possible in 04929, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Detroit:
Market Trends
Home Value History (with trend line)
📊 How Does 04929 Compare?
| Metric | 04929 | Detroit | Maine |
|---|---|---|---|
| Home Value | $248,390 | $248,390 | $401,109 |
| 5-Year CAGR | 9.1% | 9.1% | 8.6% |
| Avg Rent | $1,152 | $1,152 | - |
| Cap Rate | 3.6% | 3.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04929 (Detroit, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,390 |
| Monthly Rent | $1,152 |
| Price-to-Rent | 18.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 12.7% |
📈 Home Appreciation
| 1-Year | +1.1% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +9.1% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (3.6%). 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 04929
Population: 706
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
Frequently Asked Questions
How deep is the rental pool in Detroit, ME?
Expect a solid tenant pool in Detroit, ME. The rental market absorbs $1,152/mo rents without meaningful friction.
What is the investability score for Detroit, ME?
Detroit, ME sits at an investability rating of 3.0/5, with median home values near $248K and average rents around $1,152/mo. That combination puts it in the impressive tier for investor interest.
How quickly do rentals get leased in Detroit, ME?
Detroit, ME carries elevated vacancy risk. Expect predictable absorption at market rents of $1,152/mo.
What is it like being a landlord in Detroit, ME?
ME ranks as a landlord-friendly state for landlord-tenant law. Detroit generally follows the statewide framework, so landlords face reasonable operating rules.
What is the average home sale price in Detroit, ME?
Expect median prices around $248K in Detroit, ME. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
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