NOT LISTED FOR SALE

138 Varney Mill Rd Windham, ME 04062

3 Beds
8 Baths
7,900 Sq Ft
2.72 Acres

Last Sold May 07, 2021

Last sale price $1,425,000 $180 Per Sq Ft

5 Days on Market

Highlights

  • Additional Residence on Property
  • View of Trees or Woods
  • No HOA
  • Nearby Water Access
  • 2.72 Acre Lot
  • Forced Air Zoned Heating System

About This Home

As of May 2021

Rare fully occupied 8 unit in a great Windham location with excellent cash flow. There are (3) three-bedroom units and (5) two-bedroom units. The property sits on 2.72 acres in pleasant residential neighborhood with plenty of yard space and parking spaces. Onsite coin operated laundry facility, separately metered electric which tenants pay beyond their rent, two shared furnaces installed in 2011 and 2015 (included in the rental rates), new roof in 2016, public water and large private septic system. This is selling at an 8.9% cap rate, call for more information! Showings to be scheduled during 3 blocks of time, Sunday 4/18 1-3pm, Monday 4/19 3-5pm or Tuesday 4/20 11am-1pm.

Last Agent to Sell the Property

Mark Small

Landmark Realty Listed on: 04/16/2021

Last Buyer's Agent

nick siviski

Harborview Properties, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,727

Year Built

  • Built in 2000

Lot Details

  • 2.72 Acre Lot
  • Level Lot
  • Open Lot
  • Sprinkler System

Home Design

  • Concrete Foundation
  • Slab Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 8 Full Bathrooms
  • 7,900 Sq Ft Home
  • 1-Story Property
  • Views of Woods
  • Fire Sprinkler System

Flooring

  • Carpet
  • Vinyl

Parking

  • Common or Shared Parking
  • Shared Driveway
  • Paved Parking

Utilities

  • No Cooling
  • Forced Air Zoned Heating System
  • Heating System Uses Oil
  • Baseboard Heating
  • Hot Water Heating System
  • Natural Gas Not Available
  • Septic System
  • Private Sewer

Additional Features

  • Nearby Water Access
  • Additional Residence on Property

Listing and Financial Details

  • Legal Lot and Block A01-2 / 17
  • Assessor Parcel Number WINM-000015D-000017-A000001-000002

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Coin Laundry

Building Details

  • Operating Expense $41,199
  • Gross Income $161,340

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,727

Year Built

Built in 2000

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 2.72
  • Road Surface Type: Paved
  • MLS Status: Closed
  • Directions: From Rt 302/115 rotary, take Rt 302 towards North Windham. Turn right on Varney Mill Road, follow about 1 mile and #138 will be on the left.
  • Above Grade Finished Sq Ft: 7900.0
  • Architectural Style: Ranch
  • Garage Yn: No
  • Building Stories: 1
  • Year Built: 2000
  • Location Information:Leased Land: No
  • Contract Information:List PriceSqFt: 170.87
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 2.72
  • Property Information:Total Baths: 8.0
  • Property Information:SqFt Finished Above Grade: 7900.0
  • Property Information:Garage: No
  • Site:Level: Yes
  • Site:Open: Yes
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Roof:Shingle: Yes
  • Heat System:Baseboard: Yes
  • Heat System:Forced Air: Yes
  • Heat System:Hot Water: Yes
  • Heat Fuel:Oil: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Vinyl: Yes
  • Electric:Circuit Breakers: Yes
  • Water:Public3: Yes
  • Driveway:Paved2: Yes
  • Exterior:Vinyl Siding: Yes
  • Driveway:Common2: Yes
  • Amenities:One-Floor Living: Yes
  • Foundation Materials:Poured Concrete: Yes
  • Gas:No Gas: Yes
  • Style:Ranch: Yes
  • Property Information:Number of Units: 8
  • Heat System:Multi-Zones: Yes
  • Building Info:_pound_ Stories2: 1
  • Income Expenses Gross Income: 161340.0
  • Income Expenses Operating Expenses: 41199.0
  • Sewer:Private Sewer: Yes
  • Property Information:Short Sale Continue to Show: No
  • Recreational Water:Nearby: Yes
  • Basement:Slab2: Yes
  • View:TreesWoods: Yes
  • Property Information:Deed Restrictions: Unknown
  • Sewer:Septic Existing on Site: Yes
  • Property Information:Bank Owned REO: No
  • Misc Amenities Sprinkler: Yes
  • Building Info:_pound_ Floors3: 1
  • Amenities:Laundry - Coin: Yes
  • Advertising Remarks:Advertising Remarks: Rare fully occupied 8 unit in a great Windham location with excellent cash flow. There are (3) three-bedroom units and (5) two-bedroom units. The property sits on 2.72 acres in pleasant residential neighborhood with plenty of yard space and parking spaces. Onsite coin operated laundry facility, separately metered electric which tenants pay beyond their rent, two shared furnaces installed in 2011 and 2015 (included in the rental rates), new roof in 2016, public water and large private septic system. This is selling at an 8.9% cap rate, call for more information!
  • Property Information 2 Detached Houses on 1 Lot: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Has Basement: Not Applicable
  • Full Bathrooms: 8
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: 1st Floor Bedroom, One-Floor Living
  • Stories: 1

Exterior Features

  • Lot Features: Level, Open Lot, Near Shopping, Near Town, Neighborhood
  • View: Trees/Woods
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Foundation Details: Concrete Perimeter, Slab
  • Roof: Shingle

Garage/Parking

  • Attached Garage: No
  • Parking Features: 11 - 20 Spaces, Paved, Common

Utilities

  • Laundry Features: Laundry - Coin
  • Security: Sprinkler
  • Cooling: None
  • Cooling Y N: No
  • Heating: Multi-Zones, Hot Water, Forced Air, Baseboard
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Private Sewer, Septic Existing on Site
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Pets Allowed: No Restrictions

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 118483.2
  • Parcel #: WINM-000015D-000017-A000001-000002
  • Zoning: Res

Multi Family

  • Number Of Units Total: 8
  • Annual Gross Income: 161340.0
  • Annual Operating Expense: 41199.0

Tax Info

  • Tax Annual Amount: 11727.0
  • Tax Block: 17
  • Tax Lot: A01-2
  • Tax Year: 2020

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/07/2021 05/07/21 Sold $1,425,000 +5.6% $180 / Sq Ft
04/22/2021 04/22/21 Pending -- -- --
04/16/2021 04/16/21 For Sale $1,349,900 +80.0% $171 / Sq Ft
06/09/2017 06/09/17 Sold $750,000 -11.8% $107 / Sq Ft View Prior Sale
03/14/2017 03/14/17 Pending -- -- --
02/17/2017 02/17/17 For Sale $850,000 -- $121 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Tax History

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
2024 $18,041 $1,572,900 $352,000 $1,220,900
2023 $15,492 $1,383,200 $320,000 $1,063,200
2022 $14,658 $1,262,500 $320,000 $942,500
2021 $13,920 $1,104,800 $288,000 $816,800
2020 $11,727 $781,800 $204,800 $577,000
2019 $11,446 $781,800 $204,800 $577,000
2018 $0 $781,800 $204,800 $577,000
2017 $0 $710,300 $113,200 $597,100
2016 -- $989,000 $113,200 $875,800
2015 -- $989,000 $113,200 $875,800
2014 -- $989,000 $113,200 $875,800
2013 -- $989,000 $113,200 $875,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Maine Listings

MLS Number: 1488003

Maine Listings