Real Estate Investing in Smithfield, Maine (04978)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04978 (Smithfield, ME)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 38.7% of homes vacant — above national norms.
• 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 Smithfield, ME (04978)?
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Market Analysis: 04978 Smithfield
Investors eyeing 04978 need to respect the fundamentals at play. Home values of $289K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 04978 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader ME picture, 04978 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 04978 ZIP's population of 867 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
The right play in 04978 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Smithfield:
Property Strategy for 04978
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $245,015 | $1,230 | 3.6% | +12.8% | $122,508 |
| 3BR | $296,198 | $1,640 | 4.0% | +11.3% | $98,733 |
Market Trends
Home Value History (with trend line)
📊 How Does 04978 Compare?
| Metric | 04978 | Smithfield | Maine |
|---|---|---|---|
| Home Value | $288,910 | $288,910 | $401,109 |
| 5-Year CAGR | 8.9% | 8.9% | 8.6% |
| Avg Rent | $1,107 | $1,107 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04978 (Smithfield, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $288,910 |
| Monthly Rent | $1,107 |
| Price-to-Rent | 21.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +11.9% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +8.9% ▲ |
| 10-Year CAGR | +9.7% ▲ |
🏠 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 (3.0%). 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 04978
Population: 867
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
🎓 Nearby Colleges & Universities
Investor Insight: With 747 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Smithfield, ME?
Median home price in Smithfield, ME is near $289K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
What are rental rates like in Smithfield, ME?
Rental rates in Smithfield, ME average $1,107/mo. Tenant demand and $289K home values make the yield look reasonable by investor standards.
Are tenants stable in Smithfield, ME?
Working renters make up the core of the Smithfield, ME tenant base. The pool is reasonable for investors targeting long-term holds.
Should investors worry about vacancy in Smithfield, ME?
Vacancy in Smithfield, ME is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,107/mo.
Are eviction rules reasonable in Smithfield, ME?
For rental operators, Smithfield, ME rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 04978 now. You don’t know where it ranks.
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