8 Stephen Ward Drive #14GorhamME04038
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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 Gorham at 8 Stephen Ward Drive #14, Gorham, ME, 04038 offers $1,920/mo rent that, after a $2,520/mo payment. Total monthly income is $1,920/mo. Return on cash invested measures 10.64% in year one, and rental yield stands at 4.47% at a $514,900 entry. Equity gained on principal adds $3,323/yr while 5% annual appreciation compounds into $142,257 by year five. Five-year ROI records 53.29% and total cumulative return in cash reaches $90,270. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,920/mo property income versus a $2,520/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2018
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04038, Gorham, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,992 (100%) |
| Owner Occupied HU | 5,706 (81.6%) |
| Renter Occupied HU | 1,026 (14.7%) |
| Vacant Housing Units | 260 ( 3.7%) |
| Median Home Value | $517,175 |
| Average Home Value | $570,432 |
Housing Distribution
Address Breakdown
Residential
6,861
Single Family
6,498
Multi-Family
363
Businesses
515
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