119 Mighty StreetGorhamME04038
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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
Rental property for sale in Gorham at 119 Mighty Street, Gorham, ME, 04038 priced at $450,000 converts $3,181/mo rent into $341/mo cash flow after a $2,203/mo obligation. Total monthly income equals $3,181/mo, and annual cash flow totals $4,086/yr on $149,175 invested. Return on cash invested prints 22.65% in year one, and rental yield reads 8.48% against a $450,000 entry. Equity gained on principal adds $2,904/yr, while 5% annual appreciation compiles into $124,327 by year five. Five-year ROI reaches 117.7% and total cumulative return in cash sums $175,578. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,181/mo property income covering a $2,203/mo payment, not borrower’s personal income.
Single Family
Built in 1980
5.10 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04038, Gorham, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,992 (100%) |
| Owner Occupied HU | 5,706 (81.6%) |
| Renter Occupied HU | 1,026 (14.7%) |
| Vacant Housing Units | 260 ( 3.7%) |
| Median Home Value | $517,175 |
| Average Home Value | $570,432 |
Housing Distribution
Address Breakdown
Residential
6,861
Single Family
6,498
Multi-Family
363
Businesses
515
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