2 Wellstone Drive #2, Portland, ME, 04103 | $1,087/mo Cash Flow

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2 Wellstone Drive #2, Portland, ME, 04103 | $1,087/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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 Portland at 2 Wellstone Drive #2, Portland, ME, 04103 with 5% annual appreciation on a $349,900 basis while $3,296/mo rent supports operations. Total monthly income totals $3,296/mo and a $1,713/mo payment preserves $1,087/mo for cash returns. Annual cash flow comes to $13,048/yr on $115,992 deployed, and return on cash invested reaches 31.16% in year one. Equity gained on principal adds $2,258/yr, and five-year appreciation sums $96,671 alongside rental yield of 11.3%. Five-year ROI measures 163.34% and total cumulative return in cash totals $189,462.

Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,296/mo property income versus a $1,713/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Condo

Built in 1984

N/A lot

$N/A/sqft

No HOA

More details about the property

Beautiful, sunny, easy and surprisingly spacious! Lovely, comfortable and recently updated unit minutes to Downtown Portland and Falmouth. 2 bedrooms, 1.5 baths and semi-finished flex space in the basement level. Conveniently located in East Deering, close to any amenities you need; bike or walk to Payson Park and Baxter Blvd. Central to public transport, shopping, restaurants, trails, the dog park, entertainment, schools and health care. New, red oak stairs installed, Seller will have it stained, at Seller's expense for the new owner(s) or leave it raw at new owner(s) request. New deck 2023, roof 2024, new microwave 2024, reverse osmosis system 2024, dehumidifier 2023, new hot water tank 2023, living room ceiling fan, deck curtain rod and sconces in the 1st bedroom new 2024, yard regraded 2025, raised bed put in 2025. Basement bonus space offers great flexibility and additional storage. In-Unit laundry in 2nd Floor bathroom with storage above. Great unit in an established, well-managed HOA. Pets and rentals allowed. Open Houses Sat. 11/22 & Sun. 11/23 11 a.m. - 1 p.m.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04103, Portland, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	14,823 (100%)
Owner Occupied HU	8,387 (56.6%)
Renter Occupied HU	5,673 (38.3%)
Vacant Housing Units	763 ( 5.1%)
Median Home Value	$521,898
Average Home Value	$606,743