York Maine Listing

[Michael Keffer]

What does this group think about 4 Fifth Ave in York, Maine that is available? York/OGT is very competitive.  I realize the rentable window is likely 8-10 weeks in the summer. Anyone with active listings in the area care to weight in on approximate summer rental income? Also open to any creative ideas around loans with less than 7% rate for a 2nd property. (20% down)

https://www.zillow.com/homedetails/4-Fifth-Avenue-York-ME-03...

[Michael Baum]

Hey @Michael Keffer, ok so that is an interesting area. It is right in the spot to access 2 beaches according to other listings on VRBO.

I will say that most of the homes in that area are going for pretty high nightly rates, but they are also much larger. 10 bedrooms in one case. 5-6 on average. 2x the size with a average nightly rate of around $550 a night.

Also, their calendars are amazingly full. All of them are over 90% up to September time. That is a bit suspicious IMHO. Most likely the calendars are blocked up to a certain time.

I would be a bit cautious on those calendars. My gut says something is off when it comes to everyone's availability.

EDIT - The house itself is a bit boring IMHO. It doesn't have the character of most of the others nearby. It looks a bit like a stacked double wide. it is going to need some updating. I needs more pizazz to bring the dollars the other listings are showing. The bathrooms and kitchen especially.