298 Jordan Springs Rd, Alfred, ME, 04002 | $1,810/mo Cash Flow

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Home Type: Single Family

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298 Jordan Springs Rd, Alfred, ME, 04002 | $1,810/mo Cash Flow | Ziffy

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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

Rental property for sale in Alfred at 298 Jordan Springs Rd, Alfred, ME, 04002 priced at $170,000 pairs $2,935/mo rent with $1,810/mo cash flow after a $832/mo payment. Total monthly income equals $2,935/mo, and annual cash flow comes to $21,715/yr on $56,355 invested. Return on cash invested is 58.44% in year one, and rental yield stands at 20.72% on a $170,000 basis. Equity gained on principal adds $1,097/yr, and 5% annual appreciation accumulates to $46,968 by year five. Five-year ROI measures 310.07% and total cumulative return in cash reaches $174,741. For financing, Ziffy Mortgage’s DSCR program evaluates $2,935/mo property income against a $832/mo payment instead of your W2s, 1099s, or Tax returns.

Single Family

Built in N/A

N/A lot

$N/A/sqft

No HOA

More details about the property

The above stated price is the tax assessed value and a place holder only. ABSOLUTE - Real Estate Auction 24-130 - 3BR Mobile Home with Addition ~ 1.3+/- Acres - 298 Jordan Springs Rd., Alfred, Maine - Monday, November 25, 2024 at 11AM - Real Estate: Consists of a 1.3+/- acre parcel with 190+/- ft. of frontage on Jordan Springs Rd. The lot is Improved with a circa 1989 Burlington manufactured home (926+/-SF) with a 1,314+/-SF addition. The home is designed with 3-bedrooms, 1.5-baths, kitchen, dining room, living room, laundry, mud room and a small shed. Reference Tax Map 4, Lot 3A. - Preview: Monday, November 18, 2024 from 10-11AM - Buyer's Broker Participation Program Available. Contact Auctioneer's Office For Qualifications. - Directions: From the intersection of Rt. 4 (Jordan Springs Rd.) follow Rt. 4 east 1.4 miles to the property on the left. - Terms: A $5,000 deposit (nonrefundable as to highest bidder) in CASH or CERTIFIED U.S. FUNDS, made payable to the Keenan Auction Co., Inc. (deposited with the Auctioneer as a qualification to bid with balance due and payable within 25 days from date of auction. 10% Buyers Premium. The property will be sold by public auction subject to all outstanding municipal assessments. Conveyance of the property will be by release deed. All other terms will be announced at the public sale. For a Property Information Package contact the auctioneers office and request by auction #24-130. Our 52nd Year and 8,705th Auction.

Neighborhood Data

Neighborhood data shown for ZIP Code: 04002, Alfred, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	3,863 (100%)
Owner Occupied HU	2,887 (74.7%)
Renter Occupied HU	403 (10.4%)
Vacant Housing Units	573 (14.8%)
Median Home Value	$461,084
Average Home Value	$510,512