15 Middle Street UNIT 204, Portland, ME, 04101 | 7.41% Rental Yield

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15 Middle Street UNIT 204, Portland, ME, 04101 | 7.41% Rental Yield | Ziffy

For Sale

Currently Rented

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

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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 Portland at 15 Middle Street UNIT 204, Portland, ME, 04101 offers a 7.41% rental yield on a $779,000 purchase with $4,810/mo rent. 48% in year one. Equity gained on principal adds $5,027/yr while 5% annual appreciation supports $215,223 over five years. Portfolio math shows five-year ROI at 90.72% and total cumulative return in cash at $232,502. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,810/mo property income against a $3,813/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 2013

4,791 sqft lot

$N/A/sqft

$444 monthly HOA

More details about the property

Experience intown living at its finest! This beautiful 2 bedroom, 2 bath condo is on the 2nd floor of The Bay House, located in the heart of Portland's very desirable India Street neighborhood. Upon entering you will see the wonderful kitchen with custom cabinetry, SS appliances and marble countertops. The large dining and living area with a gas fireplace makes a great open space for entertaining. The primary bedroom features a walk-in closet, stack-on washer & dryer, and a large bathroom with marble countertops, double sinks and a walk-in tile shower. The guest bedroom is located beside the 2nd full bath with a tub. Additional features of The Bay House include high ceilings, hardwood and tile floors, central heat/AC, covered decks, a wonderful, landscaped common courtyard for gathering outdoors, elevator access, large individual storage units, as well as bike & kayak racks and, for this unit, two deeded parking spaces in the garage (1 space is a car lift). Walk to numerous dining and shopping options such as Duckfat, Eventide, Micucci Grocery, the many wonders of the Old Port, the waterfront and the Casco Bay Ferry terminal. Pet friendly and a welcoming community, secure and professionally managed, you won't want to miss this opportunity to live in The Bay House!

Neighborhood Data

Neighborhood data shown for ZIP Code: 04101, Portland, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	12,171 (100%)
Owner Occupied HU	2,282 (18.7%)
Renter Occupied HU	8,386 (68.9%)
Vacant Housing Units	1,503 (12.3%)
Median Home Value	$674,868
Average Home Value	$777,521

Housing Distribution

Address Breakdown

Residential

11,405

Single Family

5,062

Multi-Family

6,343

Businesses

2,534

Price History

Date	Event	Price
2025-02-10	Price change	$779,000
2025-01-14	Listed for sale	$799,000
2015-11-02	Sold	$469,000

Tax History

Date	Tax Paid	Tax Increase Rate	Value	Value Increase Rate
2024-02-18	$7802.00	4.17%	$519,800	N/A
2023-02-18	$7490.00	5.88%	$519,800	N/A
2022-02-18	$7074.00	-3.29%	$519,800	65.65%

Nearby investment properties with comparable rents

2 Bed
2 Bath
1199 sft

383 Commercial Street UNIT 404, Portland, ME, 04101

4 Bed
3 Bath
3474 sft

6 Hackmatack Drive, Scarborough, ME, 04074

4 Bed
3 Bath
2144 sft

77 Chamberlain Road, Scarborough, ME, 04074

5 Bed
4 Bath
3506 sft

21 North Street, Saco, ME, 04072

Nearby investment properties with comparable prices

3 Bed
3 Bath
1909 sft

4 Lina Avenue, Saco, ME, 04072

2 Bed
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2020 sft

30 York Street #1, Kennebunk, ME, 04043

3 Bed
2 Bath
2090 sft

9 Higgins Creek Road UNIT 9, Scarborough, ME, 04074

2 Bed
2 Bath
1538 sft

69 Oscar Littlefield Road, Lyman, ME, 04002

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Facts & Features

General Information

Type: Condo
Year Built: 2013
Architectural Style: High Rise
Building Area: 1,237
Living Area: 1,237 sqft
Property Condition: N/A

Features & Amenities

Heating: Forced Air
Cooling: Central Air
Flooring: N/A
Interior Features: Walk-In Closet(s), Elevator, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, One-Floor Living, Shower, Storage
Exterior Features: N/A
Parking Features: No Driveway, On Site, Garage Door Opener

Location

City: Portland
State: ME
Subdivision: N/A
Lot Size: 4,791 sqft
Lot Features: Corner Lot, Level, Sidewalks, City Lot, Near Shopping, Near Public Transit
View: N/A

HOA & Fees

HOA Fee: $444 monthly
Association Fee: $444 monthly
Fees & Dues: N/A
Association Amenities: N/A
Association Fee Includes: N/A

Utilities

Utilities: N/A
Sewer: Public Sewer
Water Source: Public
Road Surface Type: Paved

School Information

Elementary School: N/A
Middle School: N/A
High School: N/A

Listed by: N/A • Cottage & Co Real Estate

Mls Name: Maine Listings

Mls Provider: Mls

Mls ID: #1612501

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. 2025 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity. Zillow Inc. 415 Congress St #202 Portland, ME 04101 (207) 220-3782

15 Middle Street UNIT 204,Portland,ME,04101

Nearby investment properties with comparable rents

Nearby investment properties with comparable prices

Ziffy AI Summary

Investment Highlights

More details about the property

Neighborhood Data

Housing Distribution

Housing Statistics

Housing Distribution

Address Breakdown

Price History

Tax History

Nearby investment properties with comparable rents

Nearby investment properties with comparable prices

Facts & Features

General Information

Features & Amenities

Location

HOA & Fees

Utilities

School Information

15 Middle Street UNIT 204PortlandME04101