1 Joy Place UNIT 3C, Portland, ME, 04102 | 6.51% Rental Yield

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1 Joy Place UNIT 3C, Portland, ME, 04102 | 6.51% Rental Yield | Ziffy

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Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Total monthly income runs $2,142/mo, and a $1,933/mo payment. Purchase price stands at $395,000, and rental yield measures 6.51% with $2,142/mo rent. Return on cash invested shows 13.72% in year one, and 5% annual appreciation builds toward $109,131 over five years. Five-year ROI reaches 70.9% and total cumulative return in cash records $92,838. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,142/mo property income covering a $1,933/mo payment rather than investor’s personal income.

Condo

Built in 2019

N/A lot

$N/A/sqft

$325 monthly HOA

More details about the property

Located in the heart of Portland's vibrant West End, this modern condo is your serene retreat amidst the city's energy. With its white oak floors, tall ceilings, and expansive windows, the space feels airy and open, drawing in natural light to every corner. The sleek kitchen, with its open shelving, accent wall, and butcher block island, blends high-end appliances and quartz countertops with warm, thoughtful touches. The primary bedroom suite offers a generous closet and a beautifully tiled shower. Laundry is conveniently tucked away, and efficient heat pumps ensure you're comfortable no matter the season. Outside, a shared yard invites a breath of fresh air, while the dedicated storage space keeps things effortlessly organized. Whether you're savoring the charm of your neighborhood's favorite spots or head down to lively Commercial Street, this condo is your private haven in the middle of it all, offering the best of city living with the comfort of home.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04102, Portland, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,286 (100%)
Owner Occupied HU	4,132 (44.5%)
Renter Occupied HU	4,524 (48.7%)
Vacant Housing Units	630 ( 6.8%)
Median Home Value	$513,690
Average Home Value	$613,319

Housing Distribution

Address Breakdown

Residential

8,306

Single Family

6,553

Multi-Family

1,753

Businesses

692

Price History

Date	Event	Price
2024-10-03	Listed for sale	$395,000
2019-05-09	Sold	$269,000

Tax History

Date	Tax Paid	Tax Increase Rate	Value	Value Increase Rate
2022-10-14	$3907.00	-14.88%	$287,100	45.81%
2020-10-14	$4590.00	N/A	$196,900	N/A
2019-10-14	$4590.00	N/A	$196,900	N/A

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1 Bed
1 Bath
823 sft

9 Lewis Street #3B, Portland, ME, 04102

Investment Property+ 1 more

1 Bed
1 Bath
360 sft

4 Porpoise Lane #4, Kennebunk, ME, 04043

2 Bed
1 Bath
704 sft

8 Pine Lane, Old Orchard Beach, ME, 04064

Currently Rented+ 3 more

7 Bed
3 Bath
3783 sft

749 Portland Road, Saco, ME, 04072

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5 Bed
1 Bath
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2 Bed
1 Bath
672 sft

20 Carll Avenue, Old Orchard Beach, ME, 04064

3 Bed
2 Bath
1075 sft

42 Buchanan Street, South Portland, ME, 04106

3 Bed
2 Bath
1224 sft

111 Bradley Street UNIT 15, Saco, ME, 04072

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Facts & Features

General Information

Type: Condo
Year Built: 2019
Architectural Style: Contemporary
Building Area: 575
Living Area: 575 sqft
Property Condition: N/A

Features & Amenities

Heating: Heat Pump
Cooling: Heat Pump
Flooring: N/A
Interior Features: Storage
Exterior Features: N/A
Parking Features: Paved, Common, Leased, Off Site

Location

City: Portland
State: ME
Subdivision: Onejoy
Lot Size: N/A
Lot Features: Level, Open Lot, Landscaped, City Lot
View: N/A

HOA & Fees

HOA Fee: $325 monthly
Association Fee: $325 monthly
Fees & Dues: N/A
Association Amenities: N/A
Association Fee Includes: N/A

Utilities

Utilities: N/A
Sewer: Public Sewer
Water Source: Public
Road Surface Type: Paved

School Information

Elementary School: N/A
Middle School: N/A
High School: N/A

Listed by: N/A • Portside Real Estate Group

Mls Name: Maine Listings

Mls Provider: Mls

Mls ID: #1605754

Disclaimer: Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. 2023 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity. Zillow Inc. 415 Congress St #202 Portland, ME 04101 (207) 220-3782

1 Joy Place UNIT 3C,Portland,ME,04102

Nearby investment properties with comparable rents

Nearby investment properties with comparable prices

Ziffy AI Summary

Investment Highlights

More details about the property

Neighborhood Data

Housing Distribution

Housing Statistics

Housing Distribution

Address Breakdown

Price History

Tax History

Nearby investment properties with comparable rents

Nearby investment properties with comparable prices

Facts & Features

General Information

Features & Amenities

Location

HOA & Fees

Utilities

School Information

1 Joy Place UNIT 3CPortlandME04102