31 High RoadCornishME04020
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Rental property for sale in Cornish at 31 High Road, Cornish, ME, 04020 priced at $240,000 converts $2,400/mo rent into $885/mo cash flow after a $1,175/mo obligation. Total monthly income equals $2,400/mo, and annual cash flow totals $10,620/yr on $79,560 invested. Return on cash invested prints 33.26% in year one, and rental yield reads 12% against a $240,000 entry. Equity gained on principal adds $1,549/yr, while 5% annual appreciation compiles into $66,308 by year five. Five-year ROI reaches 174.57% and total cumulative return in cash sums $138,890. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,400/mo property income covering a $1,175/mo payment, not borrower’s personal income.
Single Family
Built in 1868
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04020, Cornish, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 793 (100%) |
| Owner Occupied HU | 563 (71.0%) |
| Renter Occupied HU | 133 (16.8%) |
| Vacant Housing Units | 97 (12.2%) |
| Median Home Value | $441,195 |
| Average Home Value | $475,133 |
Housing Distribution
Address Breakdown
Residential
615
Single Family
574
Multi-Family
41
Businesses
98
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Nearby investment properties with comparable prices
Listed by: N/A • Keller Williams Realty
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1589550
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