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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Old Orchard Beach at 11 Smithwheel Road UNIT 32, Old Orchard Beach, ME, 04064 generates $2,280/mo in rent and, after a $1,346/mo payment, leaves $244/mo in cash flow. Total monthly income is $2,280/mo, and annual cash flow is $2,933/yr on $91,163 invested. Return on cash invested sits at 23.13% in year one, and rental yield is 9.95% on a $275,000 entry. Equity gained on principal adds $1,775/yr, while 5% annual appreciation builds toward $75,977 over five years. Five-year ROI reaches 121.71% and total cumulative return in cash sums $110,951. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,280/mo property income rather than buyer’s personal income.
Condo
Built in 2006
5.20 Acres lot
$N/A/sqft
$300 monthly HOA
Neighborhood data shown for ZIP Code: 04064, Old Orchard Beach, ME area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,998 (100%) |
| Owner Occupied HU | 3,397 (48.5%) |
| Renter Occupied HU | 1,513 (21.6%) |
| Vacant Housing Units | 2,088 (29.8%) |
| Median Home Value | $437,987 |
| Average Home Value | $477,398 |
Residential
6,370
Single Family
5,809
Multi-Family
561
Businesses
355
Date | Event | Price |
|---|---|---|
| 2024-11-02 | Price change | $275,000 |
| 2024-10-09 | Price change | $305,000 |
| 2024-09-19 | Listed for sale | $315,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2022-11-11 | $2344.00 | 6.11% | $191,500 | 22.76% |
| 2021-11-11 | $2209.00 | 9.19% | $156,000 | 18.90% |
| 2020-11-11 | $2023.00 | 3.27% | $131,200 | 3.80% |
Listed by: N/A • Signature Homes Real Estate Group, LLC
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1604251
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
