29 Parris Street #3PortlandME04101
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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 Portland at 29 Parris Street #3, Portland, ME, 04101 uses $102,434 cash to close to unlock $1,755/yr annual cash flow and $146/mo monthly cash flow. Total monthly income runs $2,096/mo, and a $1,512/mo payment keeps the spread at $146/mo. Purchase price stands at $309,000, and rental yield measures 8.14% with $2,096/mo rent. Return on cash invested shows 21.62% in year one, and 5% annual appreciation builds toward $85,371 over five years. Five-year ROI reaches 112.21% and total cumulative return in cash records $114,941. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,096/mo property income covering a $1,512/mo payment rather than investor’s personal income.
Condo
Built in 1910
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04101, Portland, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,171 (100%) |
| Owner Occupied HU | 2,282 (18.7%) |
| Renter Occupied HU | 8,386 (68.9%) |
| Vacant Housing Units | 1,503 (12.3%) |
| Median Home Value | $674,868 |
| Average Home Value | $777,521 |
Housing Distribution
Address Breakdown
Residential
11,405
Single Family
5,062
Multi-Family
6,343
Businesses
2,534
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