235 Bates StreetMillinocketME04462
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
Rental property for sale in Millinocket at 235 Bates Street, Millinocket, ME, 04462 offers $1,496/mo rent that, after a $1,125/mo payment, leaves $45/mo cash flow. Total monthly income is $1,496/mo, and annual cash flow is $544/yr on $76,212 cash. Return on cash invested measures 20.62% in year one, and rental yield stands at 7.81% at a $229,900 entry. Equity gained on principal adds $1,484/yr while 5% annual appreciation compounds into $63,517 by year five. Five-year ROI records 106.88% and total cumulative return in cash reaches $81,455. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,496/mo property income versus a $1,125/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1970
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04462, Millinocket, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,619 (100%) |
| Owner Occupied HU | 1,542 (58.9%) |
| Renter Occupied HU | 539 (20.6%) |
| Vacant Housing Units | 538 (20.5%) |
| Median Home Value | $91,538 |
| Average Home Value | $170,131 |
Housing Distribution
Address Breakdown
Residential
2,484
Single Family
2,361
Multi-Family
123
Businesses
198
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Nearby investment properties with comparable prices
Listed by: N/A • Acres Away, Inc.
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1589873
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