16B Callaway Drive #16B, Gray, ME, 04039 | 5.99% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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16B Callaway Drive #16B, Gray, ME, 04039 | 5.99% Rental Yield | Ziffy

Recently Sold

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 Gray at 16B Callaway Drive #16B, Gray, ME, 04039 listed at $475,000 pairs $2,370/mo rent with a $2,325/mo payment. Total monthly income runs $2,370/mo. Return on cash invested measures 12.69% in year one, and rental yield registers 5.99% at a $475,000 basis. Equity gained on principal adds $3,065/yr, and annual property appreciation at 5% supports $131,234 by year five. Five-year ROI tracks 65.18% and total cumulative return in cash totals $102,631. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,370/mo property income relative to a $2,325/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Condo

Built in 2024

N/A lot

$N/A/sqft

$320 monthly HOA

More details about the property

Welcome to easy living directly across from the fairways of Spring Meadows Golf Course! This brand-new condo offers the perfect blend of modern amenities and a convenient location. Inside, you'll find a spacious kitchen featuring a center island and quartz countertops. The shared living and dining area boasts lovely views of the neighborhood and the Spring Meadows Golf Course.Upstairs, there are two bedrooms that share a full bathroom complete with dual sinks, a tub/shower, and a separate toilet room. In addition, the laundry closet is off the hallway. The second-level deck provides fantastic additional living space for enjoying summer, perfect for your morning coffee or evening relaxation while taking in the spectacular views. You can enjoy year-round comfort with efficient heat pumps/AC, and there's also propane baseboard heat. Outside, you'll appreciate the attached one-car garage and professionally landscaped grounds with those beautiful golf course views - ideal for starting your day or unwinding in the evening. This move-in ready home presents a rare opportunity for low-maintenance living in a highly sought-after location. Please note that the Homeowners Association is separate from the Golf Course, but residents still benefit from the beautiful scenery. Call today for your private showing!

Neighborhood Data

Neighborhood data shown for ZIP Code: 04039, Gray, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	4,133 (100%)
Owner Occupied HU	2,977 (72.0%)
Renter Occupied HU	636 (15.4%)
Vacant Housing Units	520 (12.6%)
Median Home Value	$384,411
Average Home Value	$424,645

Housing Distribution

Address Breakdown

Residential

3,394

Single Family

3,350

Multi-Family

Businesses

305

Price History

Date	Event	Price
2025-08-28	Sold	$475,000
2025-07-07	Pending sale	$475,000
2025-07-03	Contingent	$475,000

Tax History

Date	Tax Paid	Tax Increase Rate	Value	Value Increase Rate
No tax history data available

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35 Webbs Mills Road, Raymond, ME, 04071

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1 Bath
936 sft

246 E Bridge Street #33, Westbrook, ME, 04092

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3 Bath
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2 Bishop Delisio Lane, East Baldwin, ME, 04024

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Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Facts & Features

General Information

Type: Condo
Year Built: 2024
Architectural Style: Colonial
Building Area: 1,350
Living Area: 1,350 sqft
Property Condition: N/A

Features & Amenities

Heating: Radiant, Hot Water, Baseboard
Cooling: Heat Pump
Flooring: Tile, Composition
Interior Features: N/A
Exterior Features: N/A
Parking Features: 1 - 4 Spaces, Paved, Inside Entrance

Location

City: Gray
State: ME
Subdivision: Spring Meadow Condo Association
Lot Size: N/A
Lot Features: Well Landscaped, City Lot, Near Golf Course, Near Turnpike/Interstate, Irrigation System
View: N/A

HOA & Fees

HOA Fee: $320 monthly
Association Fee: $320 monthly
Fees & Dues: N/A
Association Amenities: N/A
Association Fee Includes: N/A

Utilities

Utilities: N/A
Sewer: Quasi-Public
Water Source: Public
Road Surface Type: Gravel

School Information

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

Listed by: N/A • Keller Williams Realty

Mls Name: Maine Listings

Mls Provider: Mls

Mls ID: #1625280

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

16B Callaway Drive #16B,Gray,ME,04039

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

16B Callaway Drive #16BGrayME04039