242 Ludlow Street, Portland, ME, 04102 | $1,000/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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242 Ludlow Street, Portland, ME, 04102 | $1,000/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

Investment property for sale in Portland at 242 Ludlow Street, Portland, ME, 04102 uses $149,175 cash to close to unlock $11,994/yr annual cash flow and $1,000/mo monthly cash flow. Total monthly income runs $3,840/mo, and a $2,203/mo payment keeps the spread at $1,000/mo. Purchase price stands at $450,000, and rental yield measures 10.24% with $3,840/mo rent. Return on cash invested shows 27.95% in year one, and 5% annual appreciation builds toward $124,327 over five years. Five-year ROI reaches 146.12% and total cumulative return in cash records $217,974. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,840/mo property income covering a $2,203/mo payment rather than investor’s personal income.

Single Family

Built in 1960

8,712 sqft lot

$N/A/sqft

No HOA

More details about the property

Opportunity awaits! This spacious four-plus bedroom colonial is located in Deering Center, one of Portland's most sought-after neighborhoods. Offered for the first time in 55 years, this home is waiting for a new owner to make it shine. It features hardwood floors throughout, a woodburning fireplace and flexible layout. The first floor offers formal living and dining rooms, a spacious kitchen, a large den that could be a 1st floor bedroom, if desired, and a half bath. On the second floor are four large bedrooms and full bath. Additional features include ample closet space, and a newer Boderus boiler and water heater. Set on an oversized lot there are many perennials, including a strawberry patch, asparagus, and peonies just waiting for someone with a green thumb to tend to. Located moments from Portland trails, coffee shops, restaurants, the Burbank library, and neighborhood schools. This property has great bones and could become a wonderful home for the next owners at a price rarely seen in Portland.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04102, Portland, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,286 (100%)
Owner Occupied HU	4,132 (44.5%)
Renter Occupied HU	4,524 (48.7%)
Vacant Housing Units	630 ( 6.8%)
Median Home Value	$513,690
Average Home Value	$613,319