245 Broadway UNIT 402South PortlandME04106
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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
Investment property for sale in South Portland at 245 Broadway UNIT 402, South Portland, ME, 04106 listed at $295,000 pairs $3,156/mo rent with a $1,444/mo payment to leave $562/mo cash flow. Total monthly income runs $3,156/mo, and annual cash flow reaches $6,745/yr on $97,793 cash to close. Return on cash invested measures 26.81% in year one, and rental yield registers 12.84% at a $295,000 basis. Equity gained on principal adds $1,904/yr, and annual property appreciation at 5% supports $81,503 by year five. Five-year ROI tracks 143.29% and total cumulative return in cash totals $140,126. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,156/mo property income relative to a $1,444/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1986
N/A lot
$N/A/sqft
$732 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04106, South Portland, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,146 (100%) |
| Owner Occupied HU | 7,500 (57.1%) |
| Renter Occupied HU | 5,002 (38.0%) |
| Vacant Housing Units | 644 ( 4.9%) |
| Median Home Value | $478,306 |
| Average Home Value | $555,106 |
Housing Distribution
Address Breakdown
Residential
12,561
Single Family
10,028
Multi-Family
2,533
Businesses
1,272
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Listed by: N/A • RE/MAX Oceanside
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1604697
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