21 Spring Hill Road, Harpswell, ME, 04079 | 1.41% Rental Yield

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21 Spring Hill Road, Harpswell, ME, 04079 | 1.41% Rental Yield | 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

Total monthly income runs $1,620/mo, and a $6,730/mo payment. Purchase price stands at $1,375,000, and rental yield measures 1.41% with $1,620/mo rent. Return on cash invested shows 1.36% in year one, and 5% annual appreciation builds toward $379,887 over five years. Five-year ROI reaches 3.44% and total cumulative return in cash records $15,318. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,620/mo property income covering a $6,730/mo payment rather than investor’s personal income.

Single Family

Built in 1954

0.75 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to 21 Spring Hill Road - overlooking Merriman Cove and Harpswell Sound. This 1954 seaside cottage has undergone a total interior makeover during the past two years. Work undertaken and completed includes a total renovation. More specifically, drywall was removed and new plumbing, electrical, and insulation was added. Heat pumps were installed. New drywall was then put in place followed by new hardwood flooring and professionally designed kitchen and bath areas completed. In addition, some examples of other work completed includes new exterior decking, whole house generator, and upgraded appliances. The completed project includes three bedrooms and bathrooms . Open concept living, dining, and sunroom areas with open water views. In addition, there is another area that could serve as an office or family room. Beautiful fieldstone fireplace highlights the living area. The kitchen and bath areas were professionally designed and show beautifully. The site is elevated and well above any flooding concerns. No flood insurance required at this location. Stairs to your owned frontage below. Enjoy swimming and boating from your oceanfront retreat. You will appreciate the low Harpswell property taxes, along with a very convenient location with close proximity to Brunswick and other mid coast Maine areas.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04079, Harpswell, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	3,341 (100%)
Owner Occupied HU	1,744 (52.2%)
Renter Occupied HU	284 ( 8.5%)
Vacant Housing Units	1,313 (39.3%)
Median Home Value	$755,906
Average Home Value	$839,537