118 Providence Street, Portland, ME, 04103 | 6.7% Rental Yield

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Price: $300K - 500K

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118 Providence Street, Portland, ME, 04103 | 6.7% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

Rental property for sale in Portland at 118 Providence Street, Portland, ME, 04103 priced at $699,000 converts $3,900/mo rent into after a $3,421/mo obligation. Total monthly income equals $3,900/mo. Return on cash invested prints 17.39% in year one, and rental yield reads 6.7% against a $699,000 entry. Equity gained on principal adds $4,511/yr, while 5% annual appreciation compiles into $193,121 by year five. Five-year ROI reaches 89.47% and total cumulative return in cash sums $205,754. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,900/mo property income covering a $3,421/mo payment, not borrower’s personal income.

Multi Family

Built in 1986

9,147 sqft lot

$N/A/sqft

No HOA

More details about the property

This East Deering three-unit offers the kind of straight forward simplicity buyers appreciate. Built in the 1980s, it avoids the maintenance concerns often found in century-old buildings. Each of the three apartments features an efficient two-bedroom layout with separate systems, semi-private outdoor space, exterior storage, and two driveways providing ample off-street parking. The location offers quick access to I-295 downtown Portland is just minutes away while also being within walking or biking distance of Payson Park, Back Cove Trail, and the Roux Campus.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04103, Portland, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	14,823 (100%)
Owner Occupied HU	8,387 (56.6%)
Renter Occupied HU	5,673 (38.3%)
Vacant Housing Units	763 ( 5.1%)
Median Home Value	$521,898
Average Home Value	$606,743