3 Bay Avenue UNIT 23Old Orchard BeachME04064
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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 Old Orchard Beach at 3 Bay Avenue UNIT 23, Old Orchard Beach, ME, 04064 listed at $385,000 pairs $1,831/mo rent with a $1,884/mo payment. Total monthly income runs $1,831/mo. Return on cash invested measures 11.46% in year one, and rental yield registers 5.71% at a $385,000 basis. Equity gained on principal adds $2,484/yr, and annual property appreciation at 5% supports $106,368 by year five. Five-year ROI tracks 58.73% and total cumulative return in cash totals $74,950. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,831/mo property income relative to a $1,884/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1900
3,484 sqft lot
$N/A/sqft
$300 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04064, Old Orchard Beach, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,998 (100%) |
| Owner Occupied HU | 3,397 (48.5%) |
| Renter Occupied HU | 1,513 (21.6%) |
| Vacant Housing Units | 2,088 (29.8%) |
| Median Home Value | $437,987 |
| Average Home Value | $477,398 |
Housing Distribution
Address Breakdown
Residential
6,370
Single Family
5,809
Multi-Family
561
Businesses
355
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Listed by: N/A • Kre Brokerage Group
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1615181
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. 2025 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity. Zillow Inc. 415 Congress St #202 Portland, ME 04101 (207) 220-3782