16 Smithwheel Road #2Old Orchard BeachME04064
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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
Investment property for sale in Old Orchard Beach at 16 Smithwheel Road #2, Old Orchard Beach, ME, 04064 earns $744/mo cash flow from $2,123/mo rent with a $1,069/mo payment. Total monthly income totals $2,123/mo, and annual cash flow totals $8,934/yr on $72,433 capital. ROI tracks 32.24% on current figures, and rental yield reads 11.66% at a $218,500 purchase. Equity gained on principal adds $1,410/yr, and 5% annual appreciation supports $60,368 over five years. Five-year ROI reaches 169.16% and total cumulative return in cash sums $122,528. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,123/mo property income instead of your personal income.
Condo
Built in 1987
0.58 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04064, Old Orchard Beach, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,998 (100%) |
| Owner Occupied HU | 3,397 (48.5%) |
| Renter Occupied HU | 1,513 (21.6%) |
| Vacant Housing Units | 2,088 (29.8%) |
| Median Home Value | $437,987 |
| Average Home Value | $477,398 |
Housing Distribution
Address Breakdown
Residential
6,370
Single Family
5,809
Multi-Family
561
Businesses
355
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Listed by: N/A • Better Homes & Gardens Real Estate/The Masiello Group
Mls Name: Maine Listings
Mls ID: #1637602