Seller's Agent in 2024
Veronica Schneider
Portside Real Estate Group
(207) 838-4034
14 in this area
123 Total Sales
185 East Ave Lewiston, ME 04240
--
Bed
3
Baths
2,600
Sq Ft
4,792
Sq Ft Lot
Highlights
- Wood Flooring
- No HOA
- Zoned Heating
- Corner Lot
- Porch
- Baseboard Heating
About This Home
As of October 2024Welcome to this fantastic investment opportunity—a 3-unit building that combines both potential for rental income and the flexibility of owner occupancy. Situated in a prime location, this property is sure to captivate both investors and those seeking a place to call home. With a thoughtful layout, this building boasts a spacious three-bedroom unit and two additional one-bedroom units, providing a total of three lucrative rental opportunities. The charm of hardwood floors throughout adds a touch of elegance to each unit, creating an inviting and warm ambiance. One of the two-bedroom units is currently leased, showcasing the strong tenant history this property boasts. The other two-bedroom unit is also occupied, presenting a stable income stream for savvy investors. However, the three-bedroom unit is vacant, offering the perfect opportunity for an owner occupant or a new tenant. Well-maintained and cared for, this property offers peace of mind to both current and prospective owners. The commitment to regular maintenance ensures a hassle-free experience, allowing you to focus on reaping the rewards of your investment.
Conveniently located in a sought-after area, this building offers easy access to various amenities, including shopping, dining, and entertainment options. Its proximity to transportation hubs and major routes ensures effortless commuting and travel.
Whether you're an investor looking to expand your portfolio or a homebuyer seeking a dual-income property, this is an opportunity you won't want to miss. Take advantage of the vacant unit's potential and make it your own, or find the perfect tenant to maximize your rental income. Don't delay—seize the chance to own this remarkable 3-unit building with a strong rental history, hardwood floors, and an unbeatable location. Come to one of the group showings and unlock the potential of this exceptional property. Please see MLS #1558927 for package listing.
Last Agent to Sell the Property
Fontaine Family-The Real Estate Leader Brokerage Phone: 207-784-3800 Listed on: 05/15/2023
Last Buyer's Agent
Veronica Schneider
Downeast Realty, Inc.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,584
Year Built
- Built in 1925
Lot Details
- 4,792 Sq Ft Lot
- Corner Lot
- Level Lot
- Open Lot
Home Design
- Flat Roof Shape
- Concrete Foundation
- Wood Frame Construction
- Asbestos Siding
- Asbestos
- Concrete Perimeter Foundation
Interior Spaces
- 3 Full Bathrooms
- 2,600 Sq Ft Home
- Multi-Level Property
Flooring
- Wood
- Carpet
- Vinyl
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Parking
- Common or Shared Parking
- Gravel Driveway
- Shared Driveway
Utilities
- No Cooling
- Zoned Heating
- Heating System Uses Oil
- Baseboard Heating
Additional Features
- Porch
- City Lot
Listing and Financial Details
- Tax Lot 329
- Assessor Parcel Number LEWI-000174-000000-000329
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $12,629
- Gross Income $34,560
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 19, 2024
Closed on
Oct 25, 2024
Sold by
185 East Llc
Bought by
Dibwe Louison M and Ngalula Jully B
Seller's Agent
Veronica Schneider
Portside Real Estate Group
Buyer's Agent
Faith Fontaine
Keller Williams Realty
List Price
$399,900
Sold Price
$410,000
Premium/Discount to List
$10,100
2.53%
Views
5
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$701
Avg. Annual Appreciation
-0.24%
Original Mortgage
$402,573
Outstanding Balance
$400,583
Interest Rate
6.09%
Mortgage Type
FHA
Estimated Equity
$8,716
Purchase Details
Listed on
May 15, 2023
Closed on
Jun 21, 2023
Sold by
Maine Ohana Prop Inc
Bought by
185 East Llc
Seller's Agent
Clayton Larochelle
Fontaine Family-The Real Estate Leader
Buyer's Agent
Veronica Schneider
Downeast Realty, Inc.
List Price
$300,000
Sold Price
$325,000
Premium/Discount to List
$25,000
8.33%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.78%
Purchase Details
Closed on
Feb 5, 2007
Sold by
Barrett Tracy A and Lachance Claire C
Bought by
Maine Ohana Props Inc
Purchase Details
Closed on
Aug 25, 2006
Sold by
Charest Robert L
Bought by
Barrett Tracy A and Lachance Claire C
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$114,000
Interest Rate
6.83%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jan 31, 2005
Sold by
Reynoso Luis A
Bought by
Charest Robert L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
5.67%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $410,000 | None Available | |
| Warranty Deed | $410,000 | None Available | |
| Warranty Deed | -- | None Available | |
| Warranty Deed | -- | None Available | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $402,573 | FHA | |
| Closed | $402,573 | FHA | |
| Previous Owner | $114,000 | Purchase Money Mortgage | |
| Previous Owner | $120,000 | Purchase Money Mortgage |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/25/2024 10/25/24 | Sold | $410,000 | +2.5% | $158 / Sq Ft |
| 09/25/2024 09/25/24 | Pending | -- | -- | -- |
| 09/19/2024 09/19/24 | For Sale | $399,900 | +23.0% | $154 / Sq Ft |
| 06/22/2023 06/22/23 | Sold | $325,000 | +8.3% | $125 / Sq Ft |
| 05/24/2023 05/24/23 | Pending | -- | -- | -- |
| 05/15/2023 05/15/23 | For Sale | $300,000 | -- | $115 / Sq Ft |
Source: Maine Listings
Tax History Compared to Growth
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 | $3,844 | $121,000 | $14,400 | $106,600 |
| 2023 | $3,270 | $109,000 | $14,400 | $94,600 |
| 2022 | $2,584 | $90,660 | $14,400 | $76,260 |
| 2021 | $2,562 | $90,660 | $14,400 | $76,260 |
| 2020 | $2,599 | $90,660 | $14,400 | $76,260 |
| 2019 | $2,621 | $90,660 | $14,400 | $76,260 |
| 2018 | $2,599 | $90,660 | $14,400 | $76,260 |
| 2017 | $2,540 | $90,660 | $14,400 | $76,260 |
| 2016 | $2,497 | $90,660 | $14,400 | $76,260 |
| 2015 | $2,481 | $90,660 | $14,400 | $76,260 |
| 2014 | $2,411 | $90,660 | $14,400 | $76,260 |
| 2013 | $2,397 | $90,660 | $14,400 | $76,260 |
Source: Public Records
Agents Affiliated with this Home
-
Veronica Schneider
-
Faith Fontaine
Buyer's Agent in 2024
Faith Fontaine
Keller Williams Realty
(207) 576-4179
44 in this area
157 Total Sales
-
Clayton Larochelle
Seller's Agent in 2023
Clayton Larochelle
Fontaine Family-The Real Estate Leader
(207) 576-6524
62 in this area
256 Total Sales
Map
Source: Maine Listings
MLS Number: 1558925
APN: LEWI-000174-000000-000329
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