44 Driftwood Lane UNIT 8PhippsburgME04562
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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
Rental property for sale in Phippsburg at 44 Driftwood Lane UNIT 8, Phippsburg, ME, 04562 generates $2,036/mo in rent, after a $3,181/mo payment. Total monthly income is $2,036/mo. Return on cash invested sits at 7.07% in year one, and rental yield is 3.76% on a $650,000 entry. Equity gained on principal adds $4,194/yr, while 5% annual appreciation builds toward $179,583 over five years. Five-year ROI reaches 34.61% and total cumulative return in cash sums $74,018. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,036/mo property income rather than buyer’s personal income.
Condo
Built in 1965
2,613 sqft lot
$N/A/sqft
$750 quarterly HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 04562, Phippsburg, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,837 (100%) |
| Owner Occupied HU | 897 (48.8%) |
| Renter Occupied HU | 106 ( 5.8%) |
| Vacant Housing Units | 834 (45.4%) |
| Median Home Value | $443,333 |
| Average Home Value | $508,138 |
Housing Distribution
Address Breakdown
Residential
1,010
Single Family
1,010
Multi-Family
0
Businesses
39
Price History
Date | Event | Price |
|---|---|---|
| 2025-04-29 | Listed for sale | $650,000 |
| 2019-04-23 | Sold | $377,500 |
| 2018-03-15 | Sold | $377,500 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
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Facts & Features
General Information
- Type: Condo
- Year Built: 1965
- Architectural Style: Cottage
- Building Area: 632
- Living Area: 632 sqft
- Property Condition: N/A
Features & Amenities
- Heating: Direct Vent Heater
- Cooling: None
- Flooring: Other
- Interior Features: 1st Floor Bedroom, Shower
- Exterior Features: N/A
- Parking Features: Reserved Parking, 1 - 4 Spaces, Gravel, Common
Location
- City: Phippsburg
- State: ME
- Subdivision: Driftwood Condominium Association
- Lot Size: 2,613 sqft
- Lot Features: Level, Near Public Beach, Neighborhood
- View: N/A
HOA & Fees
- HOA Fee: $750 quarterly
- Association Fee: $750 quarterly
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: N/A
- Sewer: Private Sewer
- Water Source: Private, Well
- Road Surface Type: Gravel, Dirt
School Information
- Elementary School: N/A
- Middle School: N/A
- High School: N/A
Listed by: N/A • Portside Real Estate Group
Mls Name: Maine Listings
Mls Provider:
Mls ID: #1620600
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