247 Elm Street, Biddeford, ME, 04005 | $254/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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247 Elm Street, Biddeford, ME, 04005 | $254/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 Biddeford at 247 Elm Street, Biddeford, ME, 04005 at $195,000 posts ROI 24.62% with $254/mo cash flow from $1,484/mo rent. Total monthly income equals $1,484/mo, and annual cash flow records $3,045/yr on $64,643 to close. Return on cash invested measures 24.62% and rental yield reads 9.13% at the current $195,000. Equity gained on principal adds $1,258/yr, and 5% annual appreciation supports $53,875 by year five. Five-year ROI prints 128.27% and total cumulative return in cash totals $82,918.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $1,484/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).

Single Family

Built in 1933

3,484 sqft lot

$N/A/sqft

No HOA

More details about the property

Bring your vision to life with this versatile Biddeford property offering potential for a second residential unit (buyer to verify with the city). Situated on high-visibility Elm Street with ample road frontage, this property was once home to a neighborhood barber shop on the first floor: ideal for conversion into additional living space, a home business, or a rental unit. The roof was replaced in 2024, giving you a head start on the updates. Only cosmetic renovations remain to make this property shine. With its flexible layout and prime location, this is a fantastic opportunity for owner-occupants, investors, and entrepreneurs alike. Enjoy the benefits of living just 5 minutes to downtown Biddeford and Saco, less than 20 minutes to Portland, and about 90 minutes to Boston, all while being minutes from beautiful Southern Maine beaches. Whether you're looking for a primary home with income potential or your next investment project, 247 Elm Street offers a rare combination of location, visibility, and possibility. OPEN HOUSE 8/14 FROM 5 PM- 6PM

Neighborhood Data

Neighborhood data shown for ZIP Code: 04005, Biddeford, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	11,793 (100%)
Owner Occupied HU	5,606 (47.5%)
Renter Occupied HU	5,202 (44.1%)
Vacant Housing Units	985 ( 8.4%)
Median Home Value	$455,712
Average Home Value	$523,001