38 Jefferson Street, Biddeford, ME, 04005 | 6.74% Rental Yield

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Price: $300K - 500K

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38 Jefferson Street, Biddeford, ME, 04005 | 6.74% Rental Yield | Ziffy

For Sale

Rental Income

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

Total monthly income runs $2,669/mo, and a $2,325/mo payment. Purchase price stands at $475,000, and rental yield measures 6.74% with $2,669/mo rent. Return on cash invested shows 17.4% in year one, and 5% annual appreciation builds toward $131,234 over five years. Five-year ROI reaches 89.58% and total cumulative return in cash records $141,055. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,669/mo property income covering a $2,325/mo payment rather than investor’s personal income.

Multi Family

Built in 1848

3,920 sqft lot

$N/A/sqft

No HOA

More details about the property

Great opportunity to own a 3 unit building in the heart of Biddeford! Walking distance to downtown and the Mills, this location does not get any better. The building is currently set up with a 1 bedroom apartment and a commercial unit that was previously used as a medical office on the first floor with a large 2 bedroom apartment upstairs. With many original details left preserved, it wont take much to bring this building back to life with tons of historic charm. Much of the exterior work has already been done with a new roof and extensive siding work completed in the last 3 years. This property would be perfect for a professional office space with the bonus additional rental income or convert the front unit into a residential unit for the ideal owner occupant building.

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