14 Joseph Drive #14, Gorham, ME, 04038 | $484/mo Cash Flow

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14 Joseph Drive #14, Gorham, ME, 04038 | $484/mo Cash Flow | 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

Investment property for sale in Gorham at 14 Joseph Drive #14, Gorham, ME, 04038 offers a 8.89% rental yield on a $439,900 purchase with $3,260/mo rent. Total monthly income registers $3,260/mo, and a $2,153/mo payment leaves $484/mo available for distribution. Annual cash flow reaches $5,806/yr on $145,827 to close, and return on cash invested stands at 23.89% in year one. Equity gained on principal adds $2,839/yr while 5% annual appreciation supports $121,536 over five years. Portfolio math shows five-year ROI at 124.34% and total cumulative return in cash at $181,323. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,260/mo property income against a $2,153/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 2000

5,662 sqft lot

$N/A/sqft

No HOA

More details about the property

If you've been searching for single-level living in a condo, your search ends here. This two-bedroom, one-and-a-half-bath home is ideally situated just outside the heart of Gorham Village on a quiet dead-end street. The unit has been extensively updated, featuring fresh paint throughout, new flooring, updated bathroom vanities, and new kitchen countertops, all completed since the current owner purchased the property. The floor plan includes a spacious kitchen with direct access to a brand-new back deck that offers exceptional privacy perfect for relaxing or grilling. The kitchen opens to a large dining area that could also serve as a versatile home office. A generous living room, primary bedroom with walk-in closet, and a convenient Jack-and-Jill bath connecting the two bedrooms complete the interior layout. Additional highlights include an attached one-car garage with a walk-up attic providing extra storage, public water and sewer, a natural gas boiler, and two heat pumps for efficient heating and cooling throughout the year. Don't miss your chance to let someone else handle the snow for you this winter!

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