88 Union Avenue #3Old Orchard BeachME04064
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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 Old Orchard Beach at 88 Union Avenue #3, Old Orchard Beach, ME, 04064 priced at $399,000 converts $2,280/mo rent into after a $1,953/mo obligation. Total monthly income equals $2,280/mo. Return on cash invested prints 17.75% in year one, and rental yield reads 6.86% against a $399,000 entry. Equity gained on principal adds $2,575/yr, while 5% annual appreciation compiles into $110,236 by year five. Five-year ROI reaches 91.41% and total cumulative return in cash sums $120,902. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,280/mo property income covering a $1,953/mo payment, not borrower’s personal income.
Condo
Built in 2020
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 04064, Old Orchard Beach, ME area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,998 (100%) |
| Owner Occupied HU | 3,397 (48.5%) |
| Renter Occupied HU | 1,513 (21.6%) |
| Vacant Housing Units | 2,088 (29.8%) |
| Median Home Value | $437,987 |
| Average Home Value | $477,398 |
Housing Distribution
Address Breakdown
Residential
6,370
Single Family
5,809
Multi-Family
561
Businesses
355
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Listed by: N/A • RE/MAX Shoreline
Mls Name: Maine Listings
Mls ID: #1650195