191 E Grand Avenue #405Old Orchard BeachME04064
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 Old Orchard Beach at 191 E Grand Avenue #405, Old Orchard Beach, ME, 04064 offers a 4.49% rental yield on a $515,000 purchase with $1,928/mo rent. 69% in year one. Equity gained on principal adds $3,323/yr while 5% annual appreciation supports $142,285 over five years. Portfolio math shows five-year ROI at 53.56% and total cumulative return in cash at $90,745. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,928/mo property income against a $2,521/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1983
1.20 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • The Real Estate Store
Mls Name: Maine Listings
Mls ID: #1649958