23 Magnolia Drive, Old Orchard Beach, ME, 04064 | 4.29% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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23 Magnolia Drive, Old Orchard Beach, ME, 04064 | 4.29% Rental Yield | Ziffy

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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 Old Orchard Beach at 23 Magnolia Drive, Old Orchard Beach, ME, 04064 with 5% annual appreciation on a $839,900 basis while $3,000/mo rent supports operations. 91% in year one. Equity gained on principal adds $5,420/yr, and five-year appreciation sums $232,049 alongside rental yield of 4.29%. Five-year ROI measures 49.39% and total cumulative return in cash totals $136,471. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,000/mo property income versus a $4,111/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Single Family

Built in 2024

0.35 Acres lot

$N/A/sqft

$450 annually HOA

More details about the property

Design the home of your dreams in the prestigious Dunegrass Community! Spanning an impressive 1,897 square feet, this stunning TO BE BUILT ranch is characterized by its thoughtful layout, attention to detail, and stately presence while offering an unique opportunity to personalize every aspect to suit your tastes and lifestyle. The spacious eat-in kitchen blends seamlessly with the open-concept dining and living area - perfect for hosting gatherings and entertaining loved ones. The primary suite will feature a large walk-in closet and spa-like bathroom. Two additional bedrooms and full bathroom will be located on the opposite wing. Additional features includes an irrigation system, a covered back deck, attached two-car garage, and a large unfinished full basement with ample storage space. With the lot already cleared and prepared, the process will be smooth and seamless, allowing you to bring your vision to life. Conveniently located in one of New England's premier Golf Clubs and only minutes to Southern Maine's beautiful coastline, I95, the clubhouse with newly renovated restaurant - Grill 65, the Downeaster Train Station, trails, and a short commute to Portland. Build the home of your dreams today!

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

Price History

Date	Event	Price
2024-10-24	Listed for sale	$839,900

Tax History

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

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Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Facts & Features

General Information

Type: SingleFamily
Year Built: 2024
Architectural Style: Ranch
Building Area: 1,897
Living Area: 1,897 sqft
Property Condition: To Be Built

Features & Amenities

Heating: Multi-Zones, Hot Water, Heat Pump, Direct Vent Heater, Baseboard
Cooling: Heat Pump
Flooring: N/A
Interior Features: Walk-In Closet(s), 1st Floor Primary Bedroom w/Bath, Bathtub, One-Floor Living, Pantry, Shower, Storage
Exterior Features: N/A
Parking Features: 1 - 4 Spaces, Paved, On Site, Garage Door Opener, Inside Entrance, Off Street

Location

City: Old Orchard Beach
State: ME
Subdivision: Country Club Estates at Dunegrass
Lot Size: 0.35 Acres
Lot Features: Cul-De-Sac, Level, Sidewalks, Interior Lot, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/Interstate, Near Town, Neighborhood, Subdivided, Irrigation System, Near Railroad
View: Scenic

HOA & Fees

HOA Fee: $450 annually
Association Fee: $450 annually
Fees & Dues: N/A
Association Amenities: N/A
Association Fee Includes: N/A

Utilities

Utilities: N/A
Sewer: Quasi-Public
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 • Portside Real Estate Group

Mls Name: Maine Listings

Mls Provider: Mls

Mls ID: #1607742

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

23 Magnolia Drive,Old Orchard Beach,ME,04064

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

23 Magnolia DriveOld Orchard BeachME04064