Retail Fix And Flip

INVESTORS TAKE NOTICE. Total rehab duplex with fabulous location

31 Anderson St, Belfast, ME 4915

$699,000 After Repair Value -
$250,983 Asking Price -
$190,000 Cost of Repairs =
$258,017 Potential Profit

Property Details

Asking Price $250,983

After Repair Value $699,000

Costs of Repairs $190,000

Potential Profit $258,017

Living Area 2255 ft2

Property Type Duplex

Bedrooms 5

Bathrooms 2

Half Bathrooms 1

Parking 0

Listed with Agent Yes

EPI (Estimated Potential Income)

Potential Rental Income $54,018

Yearly Expenses $44,227

Property Taxes $3,800

Net Operating Income $9,790

Cap Rate N/A

Property Description

Fantastic investment opportunity for a 2-unit property (2-bedroom and 3-bedroom) located within minutes of downtown Belfast. The property\'s interior requires a complete rehabilitation, while the roof was replaced in 2010 and the windows have been updated. A building inspection completed in May 2024 is available upon request. Recent improvements include structural stabilization with joists and jacking, pest removal, grounds maintenance, and floor cleaning. Light demolition has been conducted to determine historical status, and the building may be eligible for historical credits. Due to these improvements, the property is currently insurable.

RedFin link for photos and more information: -

Repairs Needed

Total rehab.

CONTACT LISTING OWNER

Dan Aho

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