16 Norway RoadGorhamME04038
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who value predictability will appreciate 16 Norway Road, Gorham, ME, 04038 in Gorham. At $724,900 it earns $4,828/mo in rent and distributes $203/mo to the owner after the $3,260/mo payment, a consistent 7.99% yield. DSCR 1.48 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $200,277 in value; $6,676/yr in principal paydown compounds ownership stake. Total projected return: $291,558.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 5.8% |
| Monthly Cash Flow | $203 | $1,250 |
City averages based on Gorham market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,828 |
| Total Monthly Debt Service | $4,287 |
| DSCR Ratio | 1.13x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2013
1.78 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
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
Single Family
Built in 2013
1.78 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices