24 Mills RoadNewcastleME04553
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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
Investment Highlights
Rental property for sale in Newcastle at 24 Mills Road, Newcastle, ME, 04553 priced at $625,000 converts $2,520/mo rent into after a $3,059/mo obligation. Total monthly income equals $2,520/mo. Return on cash invested prints 11.75% in year one, and rental yield reads 4.84% against a $625,000 entry. Equity gained on principal adds $4,033/yr, while 5% annual appreciation compiles into $172,676 by year five. Five-year ROI reaches 59.21% and total cumulative return in cash sums $121,741. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,520/mo property income covering a $3,059/mo payment, not borrower’s personal income.
Single Family
Built in 1936
0.67 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04553, Newcastle, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 992 (100%) |
| Owner Occupied HU | 668 (67.3%) |
| Renter Occupied HU | 144 (14.5%) |
| Vacant Housing Units | 180 (18.1%) |
| Median Home Value | $440,486 |
| Average Home Value | $450,591 |
Housing Distribution
Address Breakdown
Residential
811
Single Family
771
Multi-Family
40
Businesses
92
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