Steve Foglio
Real Estate 2000 ME/NH
(207) 806-5265
168 Total Sales
2 in Berwick
$375K - $575K Price Range
12 Lyman St Berwick, ME 03901
Berwick Area
--
Bed
12
Baths
11,801
Sq Ft
9,583
Sq Ft Lot
Highlights
- Country Club
- Wood Flooring
- No HOA
- Deck
- New Englander Architecture
- Patio
About This Home
As of January 2022Current Cap Rate: 11.25% | Day-One Cash-on-Cash: 23.0%
As the exclusive listing advisor, we are pleased to present the opportunity to acquire an investment property located in a very desirable area of southern Maine. 12 Lyman Street Berwick offers a mix of one, two & three-bedroom units, on one quaint tree-lined parcel overlooking the Salmon Falls River on the Maine-New Hampshire border. The property, acquired in 1984 was significantly upgraded by the current ownership.
The 12,000+/- sf, 12-unit building offers ample off-street parking on just over 10,000Sf of land. Walkable to the downtowns of both Berwick Maine and Somersworth NH, combined populations of 20,000, the area is undergoing redevelopment and improvements by both municipal and private investors. Near shopping, entertainment, jobs and bus routes tenants stay for the long-term with negligible vacancy rates. Rent roll and expenses available to qualified buyers on request. This is a must see that will not last long in the current residential investment market demand.
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $11,097
Year Built
- Built in 1953
Lot Details
- 9,583 Sq Ft Lot
Home Design
- New Englander Architecture
- Flat Roof Shape
- Shingle Roof
- Fiberglass Roof
Interior Spaces
- 12 Full Bathrooms
- 3-Story Property
- Interior and Exterior Basement Entry
Flooring
- Wood
- Carpet
- Laminate
- Concrete
- Vinyl
Outdoor Features
- Deck
- Patio
Location
- Property is near shops
- Suburban Location
Utilities
- No Cooling
- Forced Air Zoned Heating System
- Radiator
- Baseboard Heating
Listing and Financial Details
- Tax Lot 29
- Assessor Parcel Number BERW-000001U-000000-000029
Community Details
Overview
- No Home Owners Association
- 12 Units
Recreation
- Country Club
Building Details
- Operating Expense $55,000
- Gross Income $230,000
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 29, 2025
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,800,000
Outstanding Balance
$1,779,475
Interest Rate
6.83%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 3, 2023
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,312,500
Interest Rate
7.19%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Listed on
Aug 5, 2021
Closed on
Jan 5, 2022
Sold by
Bought by
Seller's Agent
Tony Donovan
Spectrum Real Estate
Buyer's Agent
Tony Donovan
Spectrum Real Estate
List Price
$1,495,000
Sold Price
$1,350,000
Premium/Discount to List
-$145,000
-9.7%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$337,500
Interest Rate
3.11%
Mortgage Type
Purchase Money Mortgage
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Berwick, ME
-
Steve Foglio
-
Karen Rice
Karen Rice
Abigail Douris Real EstateLLC
(207) 994-8978
41 Total Sales
1 in Berwick
$425,000 Price
-
Adam Hedio
Adam Hedio
Coldwell Banker Realty
(207) 977-2927
171 Total Sales
1 in Berwick
$350,000 Price
-
Nicole Parmley
Nicole Parmley
Parmley Properties Realty LLC
(207) 606-7023
121 Total Sales
18 in Berwick
$52K - $1.2M Price Range
-
Kathleen McClelland
Kathleen McClelland
Portside Real Estate Group
(207) 808-7299
72 Total Sales
1 in Berwick
$500,000 Price
-
Aaron Kollmeyer
Aaron Kollmeyer
Coldwell Banker Realty
(508) 452-6045
88 Total Sales
1 in Berwick
$515,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $2,250,000 | None Available | ||
| $1,750,000 | None Available | ||
| $1,350,000 | None Available |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,800,000 | ||
| Previous Owner | $1,312,500 | ||
| Closed | $337,500 | ||
| Previous Owner | $877,500 | ||
| Closed | $30,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/05/2022 01/05/22 | Sold | $1,350,000 | -9.7% | $114 / Sq Ft |
| 09/28/2021 09/28/21 | Pending | -- | -- | -- |
| 08/05/2021 08/05/21 | For Sale | $1,495,000 | -- | $127 / Sq Ft |
Source: Maine Listings
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $23,207 | $1,779,700 | $901,000 | $878,700 |
| 2024 | $22,193 | $1,779,700 | $901,000 | $878,700 |
| 2023 | $10,501 | $573,200 | $80,400 | $492,800 |
| 2022 | $10,444 | $573,200 | $80,400 | $492,800 |
| 2021 | $10,490 | $573,200 | $80,400 | $492,800 |
| 2020 | $9,733 | $573,200 | $80,400 | $492,800 |
| 2019 | $9,733 | $555,200 | $80,400 | $474,800 |
| 2018 | $7,976 | $465,100 | $101,700 | $363,400 |
| 2017 | $7,976 | $465,100 | $101,700 | $363,400 |
| 2016 | $7,581 | $465,100 | $101,700 | $363,400 |
| 2014 | $7,395 | $465,100 | $101,700 | $363,400 |
| 2013 | $7,465 | $465,100 | $101,700 | $363,400 |
Source: Public Records
Agents Affiliated with this Home
-
Tony Donovan
Seller's Agent in 2022
Tony Donovan
Spectrum Real Estate
(207) 329-6732
30 Total Sales
-
Sara McKee
Buyer Co-Listing Agent in 2022
Sara McKee
Vitalius Real Estate Group, LLC
(207) 807-3299
17 Total Sales
Map
Source: Maine Listings
MLS Number: 1503863
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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.
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