1507 Richmond RoadLitchfieldME04350
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Investment property for sale in Litchfield at 1507 Richmond Road, Litchfield, ME, 04350 uses $116,025 cash to close to unlock $7,454/yr annual cash flow and $621/mo monthly cash flow. Total monthly income runs $2,830/mo, and a $1,713/mo payment keeps the spread at $621/mo. Purchase price stands at $350,000, and rental yield measures 9.7% with $2,830/mo rent. Return on cash invested shows 26.33% in year one, and 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 137.49% and total cumulative return in cash records $159,518. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,830/mo property income covering a $1,713/mo payment rather than investor’s personal income.
Single Family
Built in 1830
3.20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04350, Litchfield, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,945 (100%) |
| Owner Occupied HU | 1,387 (71.3%) |
| Renter Occupied HU | 205 (10.5%) |
| Vacant Housing Units | 353 (18.1%) |
| Median Home Value | $264,507 |
| Average Home Value | $294,084 |
Housing Distribution
Address Breakdown
Residential
1,580
Single Family
1,580
Multi-Family
0
Businesses
53
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • Sprague & Curtis Real Estate
Mls Name: Maine Listings
Mls ID: #1639309