1016 State Street #7BangorME04401
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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
Investment Highlights
Investment property for sale in Bangor at 1016 State Street #7, Bangor, ME, 04401 uses $80,389 cash to close to unlock $4,974/yr annual cash flow and $414/mo monthly cash flow. Total monthly income runs $1,945/mo, and a $1,187/mo payment keeps the spread at $414/mo. Purchase price stands at $242,500, and rental yield measures 9.62% with $1,945/mo rent. Return on cash invested shows 26.1% in year one, and 5% annual appreciation builds toward $66,998 over five years. Five-year ROI reaches 136.21% and total cumulative return in cash records $109,495. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,945/mo property income covering a $1,187/mo payment rather than investor’s personal income.
Condo
Built in 2007
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04401, Bangor, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,989 (100%) |
| Owner Occupied HU | 11,478 (52.2%) |
| Renter Occupied HU | 8,838 (40.2%) |
| Vacant Housing Units | 1,673 ( 7.6%) |
| Median Home Value | $297,425 |
| Average Home Value | $331,226 |
Housing Distribution
Address Breakdown
Residential
20,842
Single Family
18,666
Multi-Family
2,176
Businesses
2,184
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