91 College Drive #51, Wells, ME, 04090 | $114/mo Cash Flow

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91 College Drive #51, Wells, ME, 04090 | $114/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Wells at 91 College Drive #51, Wells, ME, 04090 earns $114/mo cash flow from $2,480/mo rent with a $1,835/mo payment. Total monthly income totals $2,480/mo, and annual cash flow totals $1,365/yr on $124,313 capital. ROI tracks 21.01% on current figures, and rental yield reads 7.94% at a $375,000 purchase. Equity gained on principal adds $2,420/yr, and 5% annual appreciation supports $103,606 over five years. Five-year ROI reaches 108.9% and total cumulative return in cash sums $135,375. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,480/mo property income instead of your personal income.

Condo

Built in 2014

8,276 sqft lot

$N/A/sqft

No HOA

More details about the property

Immaculate 2 bedroom,1 full bath Cottage located in the highly sought after Summerscape Community. This offering is extremely rare with just a couple of units being sold yearly. This end unit offers plenty of privacy abutting trees, woods, and nature making it very desirable. It also boasts a one-off private patio! This dedicated space is ideal for grilling, socializing, or just relaxing. Paired with this patio is a spacious side and backyard. Very few cottages at Summerscape have a backyard!! All this and still just a short walk to the pool, clubhouse, and overflow parking lot. It has many upgrades to include beadboard package (sunroom walls, kitchen & vanity cabinets), heat pump with A/C, granite counters, stainless steel appliances, garbage disposal, and cozy finished sunroom filled with natural light. Amenities galore in this gated community to include a large heated swimming pool w/ hot tub, gym, fire pits, game room, and media room. All this considering Summerscape has one of the lowest condo fees in the area. These cottages were engineered and designed for longevity in mind. No deferred maintenance, yearly painting, or rotten wood replacement. The cost of ownership in Summerscape is lower than comparable communities in the area. Easy access to 95 and Rt. 1. Only 2.4 miles to Wells Beach! Your summer oasis can't get much easier than this! Summerscape is open from May 1st-October 31st. Condo is being sold furnished. Must be Seen!!

Neighborhood Data

Neighborhood data shown for ZIP Code: 04090, Wells, ME area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,925 (100%)
Owner Occupied HU	4,746 (47.8%)
Renter Occupied HU	719 ( 7.2%)
Vacant Housing Units	4,460 (44.9%)
Median Home Value	$545,665
Average Home Value	$587,209