Investment Opportunity in Old Town, Maine

[Joey Shaw]

Hey guys,

I'm a Maine Realtor with a property coming to market next week (will add the link once I have it posted but wanted to give y'all a chance before I do). You can see some older pics online for the time being (getting professional pics taken Monday). Comes with a strong rental history of college students in the area. Owner has had the property since 2005 and it's been rented out since. Lease in place until June 2024.

Address: 328 Fourth Street, Old Town, ME

Vinyl siding, new electric water heater, updated electric to breakers with nob and tube disconnected, foundation in great condition, and new windows throughout.

* Public water/sewer

* Tenants pay electric

Price: $215k

Rent: $1600 (under market)

Coin-Op Washer/Dryer: ~$4-500/yr 

(Coin-Op Machines will be included in the sale)

Annual Expenses (2022)-

Taxes: $3,311.67

Plowing: $360.00

Insurance: $1,554.11

Oil: $2,950.00 (this is the cap built into the current lease, anything over billed to tenants. This was price before current owners put in a brand new Electric Heat Pump water heater this passed Spring)

Water: $325.19

Sewer: $513.19

Please shoot me a direct message if you're interested or have any other questions.

Thanks!

- Joey Shaw