22 Joseph Drive #6, Gorham, ME, 04038 | 6.54% Rental Yield

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22 Joseph Drive #6, Gorham, ME, 04038 | 6.54% 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 Gorham at 22 Joseph Drive #6, Gorham, ME, 04038 offers a 6.54% rental yield on a $352,500 purchase with $1,920/mo rent. 96% in year one. Equity gained on principal adds $2,275/yr while 5% annual appreciation supports $97,389 over five years. Portfolio math shows five-year ROI at 72.13% and total cumulative return in cash at $84,283. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,920/mo property income against a $1,725/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 2000

N/A lot

$N/A/sqft

$275 monthly HOA

More details about the property

Affordable and convenient Gorham living! This 2 bedroom, 1.5 bath townhouse style condominium features a 1 car garage, is located in a well established association and is ready for your updates to unleash its full potential. Second floor laundry and walk-in closet in the primary bedroom are features that you'll love and the second floor bonus room provides additional space to meet your needs. The back deck is an added bonus where you can enjoy the wooded serenity of the back yard. Natural gas heating and low condo fees contribute to the affordability of this home.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04038, Gorham, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,992 (100%)
Owner Occupied HU	5,706 (81.6%)
Renter Occupied HU	1,026 (14.7%)
Vacant Housing Units	260 ( 3.7%)
Median Home Value	$517,175
Average Home Value	$570,432

Housing Distribution

Address Breakdown

Residential

6,861

Single Family

6,498

Multi-Family

363

Businesses

515

Price History

Date	Event	Price
2025-08-19	Sold	$352,500
2025-07-19	Pending sale	$365,000
2025-07-08	Price change	$365,000

Tax History

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

Nearby investment properties with comparable rents

1 Bed
1 Bath
864 sft

296 Wadleigh Pond Road, Lyman, ME, 04002

2 Bed
2 Bath
1360 sft

47 Pebble Brook Road, Alfred, ME, 04002

4 Bed
2 Bath
2536 sft

69 Barkers Pond Road, Lyman, ME, 04002

4 Bed
1 Bath
1250 sft

4 Whitehouse Street, Springvale, ME, 04083

Nearby investment properties with comparable prices

3 Bed
1 Bath
936 sft

5 Prospect Street, Saco, ME, 04072

3 Bed
1 Bath
1248 sft

88 Webber Road, East Waterboro, ME, 04030

3 Bed
1 Bath
960 sft

4 Fairwood Circle, Hollis Center, ME, 04042

2 Bed
1 Bath
1286 sft

11 Beaver Hill Road, Springvale, ME, 04083

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Facts & Features

General Information

Type: Condo
Year Built: 2000
Architectural Style: Other
Building Area: 1,250
Living Area: 1,250 sqft
Property Condition: N/A

Features & Amenities

Heating: Baseboard, Direct Vent Furnace, Hot Water, Zoned
Cooling: None
Flooring: Carpet, Tile
Interior Features: Attic, Bathtub, Walk-In Closet(s)
Exterior Features: N/A
Parking Features: Paved, 1 - 4 Spaces, On Site, Garage Door Opener

Location

City: Gorham
State: ME
Subdivision: N/A
Lot Size: N/A
Lot Features: City Lot, Near Shopping, Near Town, Neighborhood, Cul-De-Sac, Level, Landscaped
View: N/A

HOA & Fees

HOA Fee: $275 monthly
Association Fee: $275 monthly
Fees & Dues: N/A
Association Amenities: N/A
Association Fee Includes: N/A

Utilities

Utilities: N/A
Sewer: Public Sewer
Water Source: Public
Road Surface Type: Paved

School Information

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

Listed by: N/A • Demetria Real Estate

Mls Name: Maine Listings

Mls Provider: Mls

Mls ID: #1627224

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

22 Joseph Drive #6,Gorham,ME,04038

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

22 Joseph Drive #6GorhamME04038