Excellent Rental Opportunity - $267,900 DUPLEX Option, Desirable Central Maine area
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Awesome opportunity to own a single family property OR convert this great property back to it's original 2 unit layout for even more income. This Fully Renovated property also could make an excellent Air BnB situation. We have this property fully set up and ready to move in/rent as it is for SFH however, I kept all the systems for the duplex in the house if anyone ever wanted to convert it back. It would be 2-3 weeks of a quick turn around to bring it back to a duplex if anyone wants. Still have both heating systems and oil tanks. One brand new boiler that is sized for the whole house in the future if needed. The other is forced hot air and both work great and serviced every year. All new plumbing throughout by licensed plumbers.. all drain pipes and full PVC from the house to the street has been done so there is NO Clay anymore (Huge leg up in maintenance). House still has 2 electrical panels both metered separately. All newer appliances, new kitchen, 2 new tiled full bathrooms, one on each floor, trimmed and accented ceilings in all main rooms/bedrooms. 2 entrances at each floor and a paved driveway. Each floor has an exterior deck for enjoying the "in town woods".. 2 mins from all amenities of Downtown Gardiner, ME waterfront and the main retail street. All Plumbing and capped water supplies have an access panel I put in place for easy access. Roof was fully replaced in 2016, New Boiler end of 2023 and FHA system is about 30 years old I believe, but well maintained yearly and all systems function great.
Single Family Homes in the area of this size are renting for $2500-$3500 at this time. Rental market is VERY strong around here at the moment. If it is desired to convert back to duplex, the downstairs and upstairs are both 1000 sqft, and function very well. We originally had it as a duplex and it was ALWAYS rented as it is such a desirable area. Downstairs would be a 1 bed, with dining, living, kitchen and full bath as well as a large laundry room. Upstairs would be a 2 bed, tiled stand up large shower Bathroom with a kitchen, living room and a Large master bedroom with double closet as well as the spare bedroom. All rooms in this house are large and have plenty of room. 1 Bed rentals in the area of this quality are often $1500-$1700 a month, and 2 bed rentals go for $1800-$2100.
This is an absolute steal for anyone wanting a solid rental property that is READY to go as a single, or a small flip over to go back to a duplex. The current list price on this is $267,900.00.
Other expenditures are rather reasonable as well..
Water/Sewer usually - $70 a month
Taxes - $250 a month
Home Owners on this was about $100 a month
Typically we had tenants pay their own heat and electric as they are completely broken out and easy for them to take care of.
Located in Farmingdale, Maine.. just down the road from the capital Augusta. It's is situated in a very desirable area between Hallowell and Gardiner along the river where many people come visit year round. It is right off the highway I95 for access to many other areas, as well as only 45 mins from the coast in Rockland, another very desirable access point to all Maine has.