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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Old Orchard Beach at 18 Smithwheel Road UNIT 22, Old Orchard Beach, ME, 04064 priced at $220,000 converts $2,023/mo rent into $434/mo cash flow after a $1,077/mo obligation. Total monthly income equals $2,023/mo, and annual cash flow totals $5,212/yr on $72,930 invested. Return on cash invested prints 27.06% in year one, and rental yield reads 11.03% against a $220,000 entry. Equity gained on principal adds $1,420/yr, while 5% annual appreciation compiles into $60,782 by year five. Five-year ROI reaches 142.56% and total cumulative return in cash sums $103,967. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,023/mo property income covering a $1,077/mo payment, not borrower’s personal income.
Condo
Built in 1988
3.35 Acres lot
$N/A/sqft
$200 monthly HOA
Neighborhood data shown for ZIP Code: 04064, Old Orchard Beach, ME area.
| 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 |
Residential
6,370
Single Family
5,809
Multi-Family
561
Businesses
355
Date | Event | Price |
|---|---|---|
| 2024-10-22 | Price change | $220,000 |
| 2024-10-11 | Listed for sale | $224,900 |
| 2023-06-16 | Sold | $180,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2022-11-11 | $1514.00 | 14.26% | $123,700 | 32.16% |
| 2021-11-11 | $1325.00 | 4.50% | $93,600 | 13.87% |
| 2020-11-11 | $1268.00 | 2.26% | $82,200 | 2.75% |
Listed by: N/A • Signature Homes Real Estate Group, LLC
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1606584
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. 2023 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity. Zillow Inc. 415 Congress St #202 Portland, ME 04101 (207) 220-3782
