56 Congress StreetMillinocketME04462
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 Millinocket at 56 Congress Street, Millinocket, ME, 04462 offers $1,604/mo rent that, after a $807/mo payment, leaves $563/mo cash flow. Total monthly income is $1,604/mo, and annual cash flow is $6,761/yr on $54,664 cash. Return on cash invested measures 32.28% in year one, and rental yield stands at 11.67% at a $164,900 entry. Equity gained on principal adds $1,064/yr while 5% annual appreciation compounds into $45,559 by year five. Five-year ROI records 169.37% and total cumulative return in cash reaches $92,584. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,604/mo property income versus a $807/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1910
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04462, Millinocket, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,619 (100%) |
| Owner Occupied HU | 1,542 (58.9%) |
| Renter Occupied HU | 539 (20.6%) |
| Vacant Housing Units | 538 (20.5%) |
| Median Home Value | $91,538 |
| Average Home Value | $170,131 |
Housing Distribution
Address Breakdown
Residential
2,484
Single Family
2,361
Multi-Family
123
Businesses
198
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Listed by: N/A • North Woods Real Estate, LLC
Mls Name: Maine Listings
Mls ID: #1644245