42 Old Mill Road, New Harbor, ME, 04554 | 6.33% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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42 Old Mill Road, New Harbor, ME, 04554 | 6.33% Rental Yield | Ziffy

For Sale

Fix & Flip

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 $2,638/mo, and a $2,447/mo payment. Purchase price stands at $499,999, and rental yield measures 6.33% with $2,638/mo rent. Return on cash invested shows 16.16% in year one, and 5% annual appreciation builds toward $138,141 over five years. Five-year ROI reaches 82.92% and total cumulative return in cash records $137,431. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,638/mo property income covering a $2,447/mo payment rather than investor’s personal income.

Single Family

Built in 1950

0.69 Acres lot

$N/A/sqft

No HOA

More details about the property

Rare Opportunity in McFarland Shore - New Harbor, Maine Welcome to this charming four-season home in the highly sought-after McFarland Shore community of New Harbor, Maine. A true hidden gem, this property offers rare, deeded ocean access, allowing you to enjoy Maine's breathtaking coastline just moments from your doorstep. Situated on .69 acres of naturally landscaped grounds, this home is a perfect blend of privacy and natural beauty. The seasonal ocean views add to the serene atmosphere, while the private road ensures peace and seclusion. Thoughtful updates, including LV flooring and on-demand water heater, enhance appeal, making it comfortable and inviting year-round. Home features 1,384 square feet of single floor living, 3BR/2BA, bonus BR/Office, new windows, wood burning stove in LR, tall insulated attic, large covered patio, walking path to road, and one car detached garage. Located close to New Harbor, Reilly's Grocery Store, and iconic and picturesque Back Cove, the area is popular for walking on a network of dirt roads and trails. This home is Move-in Ready & is being sold as-is, allowing you to make it your own. Whether you seek a full-time residence, a vacation retreat, or an investment in Maine's coveted coastal lifestyle, this property delivers unmatched location, charm and potential. Don't miss your chance to own a piece of McFarland Shore paradise!

Neighborhood Data

Neighborhood data shown for ZIP Code: 04554, New Harbor, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	884 (100%)
Owner Occupied HU	282 (31.9%)
Renter Occupied HU	43 ( 4.9%)
Vacant Housing Units	559 (63.2%)
Median Home Value	$595,109
Average Home Value	$716,090