7 Mikes Lane #7SmithfieldME04978
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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
Investment property for sale in Smithfield at 7 Mikes Lane #7, Smithfield, ME, 04978 listed at $169,000 pairs $1,269/mo rent with a $827/mo payment to leave $203/mo cash flow. Total monthly income runs $1,269/mo, and annual cash flow reaches $2,431/yr on $56,024 cash to close. Return on cash invested measures 24.25% in year one, and rental yield registers 9.01% at a $169,000 basis. Equity gained on principal adds $1,091/yr, and annual property appreciation at 5% supports $46,692 by year five. Five-year ROI tracks 126.28% and total cumulative return in cash totals $70,747. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,269/mo property income relative to a $827/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1900
1.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04978, Smithfield, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 640 (100%) |
| Owner Occupied HU | 365 (57.0%) |
| Renter Occupied HU | 39 ( 6.1%) |
| Vacant Housing Units | 236 (36.9%) |
| Median Home Value | $293,382 |
| Average Home Value | $377,041 |
Housing Distribution
Address Breakdown
Residential
399
Single Family
399
Multi-Family
0
Businesses
20
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Listed by: N/A • Lakehome Group Real Estate
Mls Name: Maine Listings
Mls ID: #1632874