Lot 45 Falcon Crest Drive Drive UNIT 45, Gorham, ME, 04038 | 5.06% Rental Yield

Save Search

Filters Applied

EditEdit Filters

Filters Applied:

Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

EditEdit Filters

Lot 45 Falcon Crest Drive Drive UNIT 45, Gorham, ME, 04038 | 5.06% Rental Yield | Ziffy

Sold

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Nearby investment properties with comparable rents

3 Bed
3 Bath
2086 sft

8 Woodside Drive #1, Gorham, ME, 04038

3 Bed
1 Bath
1732 sft

56 Royal Coachman Way, Shapleigh, ME, 04076

3 Bed
2 Bath
1535 sft

TBD Little Poverty Pond Road Road, Shapleigh, ME, 04076

3 Bed
2 Bath
1538 sft

301 Pine Springs Road, Shapleigh, ME, 04076

Nearby investment properties with comparable prices

3 Bed
3 Bath
2316 sft

193 Falcon Crest Drive #33, Gorham, ME, 04038

3 Bed
3 Bath
1741 sft

284 Bradley Street UNIT 8, Saco, ME, 04072

3 Bed
3 Bath
1620 sft

TBD Campground Road, Kennebunkport, ME, 04046

3 Bed
2 Bath
2086 sft

50 Finn Parker Road, Gorham, ME, 04038

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

Explore more listings using simple english

Investment Highlights

Investment property for sale in Gorham at Lot 45 Falcon Crest Drive Drive UNIT 45, Gorham, ME, 04038 earns from $2,640/mo rent with a $3,064/mo payment. Total monthly income totals $2,640/mo. ROI tracks 10.67% on current figures, and rental yield reads 5.06% at a $626,000 purchase. Equity gained on principal adds $4,039/yr, and 5% annual appreciation supports $172,952 over five years. Five-year ROI reaches 54.09% and total cumulative return in cash sums $111,411. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,640/mo property income instead of your personal income.

Condo

Built in 2024

16.20 Acres lot

$N/A/sqft

$300 monthly HOA

More details about the property

This Crescent Cottage features a spacious open floor plan perfect to entertain guests all year round inside and out! You will find plenty of upgrade and space in your very own Chef's kitchen featuring upgraded appliances, range hood, Quartz countertops, extended island, and pantry cabinet. Relax by your beautiful gas fireplace in the cozy living room. Privately tucked in the back of the home you will find your primary suite with an ensuite bathroom featuring a double sink vanity, granite countertops and a gorgeous subway tiled walk-in shower. The second floor boasts hardwood stair treads leading to 2 more spacious bedrooms, and a full bath. Head outside to grill on your patio or enjoy the warm weather with friends and family! Cool down on those hot summer nights in your cottage with Central AC! Too many upgrades to mention! The Cottages at Winding Ridge are thoughtfully designed homes with a close-knit 55+ community where neighbors wave to each other and gather to enjoy one another's company. Filled with charm and character, this warm and inviting neighborhood has cottages nestled together to allow residents to easily interact while preserving personal space and privacy.

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

Price History

Date	Event	Price
2024-09-01	Listed for sale	$626,000

Tax History

Date	Tax Paid	Tax Increase Rate	Value	Value Increase Rate
No tax history data available

Nearby investment properties with comparable rents

3 Bed
3 Bath
2086 sft

8 Woodside Drive #1, Gorham, ME, 04038

3 Bed
1 Bath
1732 sft

56 Royal Coachman Way, Shapleigh, ME, 04076

3 Bed
2 Bath
1535 sft

TBD Little Poverty Pond Road Road, Shapleigh, ME, 04076

3 Bed
2 Bath
1538 sft

301 Pine Springs Road, Shapleigh, ME, 04076

Nearby investment properties with comparable prices

3 Bed
3 Bath
2316 sft

193 Falcon Crest Drive #33, Gorham, ME, 04038

3 Bed
3 Bath
1741 sft

284 Bradley Street UNIT 8, Saco, ME, 04072

3 Bed
3 Bath
1620 sft

TBD Campground Road, Kennebunkport, ME, 04046

3 Bed
2 Bath
2086 sft

50 Finn Parker Road, Gorham, ME, 04038

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Facts & Features

General Information

Type: Condo
Year Built: 2024
Architectural Style: Cottage
Building Area: 1,762
Living Area: 1,762 sqft
Property Condition: To Be Built

Features & Amenities

Heating: Multi-Zones, Forced Air
Cooling: Central Air
Flooring: N/A
Interior Features: Walk-In Closet(s), 1st Floor Primary Bedroom w/Bath, Bathtub, Shower, Storage
Exterior Features: N/A
Parking Features: 1 - 4 Spaces, Paved, Garage Door Opener, Inside Entrance

Location

City: Gorham
State: ME
Subdivision: Winding Ridge Condominium Association
Lot Size: 16.20 Acres
Lot Features: Open Lot, Sidewalks, Landscaped, Near Shopping, Near Town, Neighborhood
View: N/A

HOA & Fees

HOA Fee: $300 monthly
Association Fee: $300 monthly
Fees & Dues: N/A
Association Amenities: N/A
Association Fee Includes: N/A

Utilities

Utilities: N/A
Sewer: Public Sewer
Water Source: Public
Road Surface Type: Paved

School Information

Elementary School: N/A
Middle School: N/A
High School: N/A

Listed by: N/A • Signature Homes Real Estate Group, LLC

Mls Name: Maine Listings

Mls Provider: Mls

Mls ID: #1602347

Disclaimer: Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. 2023 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity. Zillow Inc. 415 Congress St #202 Portland, ME 04101 (207) 220-3782

Lot 45 Falcon Crest Drive Drive UNIT 45,Gorham,ME,04038

Nearby investment properties with comparable rents

Nearby investment properties with comparable prices

Ziffy AI Summary

Investment Highlights

More details about the property

Neighborhood Data

Housing Distribution

Housing Statistics

Housing Distribution

Address Breakdown

Price History

Tax History

Nearby investment properties with comparable rents

Nearby investment properties with comparable prices

Facts & Features

General Information

Features & Amenities

Location

HOA & Fees

Utilities

School Information

Lot 45 Falcon Crest Drive Drive UNIT 45GorhamME04038