24 Gerrys Way, Gorham, ME, 04038 | $285/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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24 Gerrys Way, Gorham, ME, 04038 | $285/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

Rental property for sale in Gorham at 24 Gerrys Way, Gorham, ME, 04038 generates $3,434/mo in rent and, after a $2,442/mo payment, leaves $285/mo in cash flow. Total monthly income is $3,434/mo, and annual cash flow is $3,421/yr on $165,419 invested. Return on cash invested sits at 21.98% in year one, and rental yield is 8.26% on a $499,000 entry. Equity gained on principal adds $3,220/yr, while 5% annual appreciation builds toward $137,865 over five years. Five-year ROI reaches 114.11% and total cumulative return in cash sums $188,766. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,434/mo property income rather than buyer’s personal income.

Single Family

Built in 2009

1.25 Acres lot

$N/A/sqft

No HOA

More details about the property

This charming 3-bedroom home is perfectly situated at the end of a quiet street in one of Gorham's most desirable neighborhoods. The location offers easy access to downtown Gorham, Scarborough, and South Portland, making commuting and everyday errands a breeze. Inside, you'll find new flooring and fresh paint throughout, creating a bright and welcoming atmosphere. A newly paved driveway adds both curb appeal and convenience. Completely move-in ready, this home has been thoughtfully maintained and is ready to welcome its next owner.

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