J
Seller's Agent in 2021
Jay Weinberg
Coldwell Banker Realty
(207) 650-9119
2 in this area
9 Total Sales
20-22 Mount Pleasant St Biddeford, ME 04005
--
Bed
3.5
Baths
4,417
Sq Ft
0.32
Acres
Highlights
- Additional Residence on Property
- Contemporary Architecture
- Main Floor Bedroom
- Deck
- Property is near public transit
- No HOA
About This Home
As of July 2021Outstanding Investment Opportunity!
Two buildings on a 1/3-acre lot offering $54,000/yr in gross income and over $36,000/yr in net income despite under-market rents and the owner contracting out all property management/maintenance services. This investment property includes off-street parking for 10+ vehicles, separate driveways for each building, a one-car garage, and quality vinyl siding. The property is in a fantastic neighborhood that is within easy walking distance of Biddeford schools and multiple parks and is very accessible to I-295 and Biddeford's Downtown district.
20 Mount Pleasant Street is a 2-unit duplex with 3-bedroom/1-bath apartments on the first and second floors. The electrical system has been completely upgraded including the box and all wiring, and the basement has been professionally insulated with efficient spray foam insulation. These two units currently have 2+ year tenants in place with leases that expire at the end of June. Both tenants are going month-to-month through the listing and sale process but are receptive to re-leasing with new owners.
22 Mount Pleasant Street is a 4-bedroom, 1.5-bath single-family home that has been rented to UNE College of Medicine students for the last four years since the owner moved off-property after owner-occupying. The medical students pass along word of the excellent setup this property offers to incoming medical students, so it essentially fills itself with new tenants once the current set is ready for their next chapter. This building is turning over from one set of UNECOM students to another on July 1 with a 12-month lease in place for the incoming group. This home includes a washer/dryer, large eat-in kitchen with pantry and lots of cabinet space, a front porch off of one of the second-floor bedrooms, as well as a heated one-car garage (with workbench) that, depending on the arrangement, could offer additional income opportunities.
Last Listed By
Coldwell Banker Realty Brokerage Phone: 207-773-1990 Listed on: 06/02/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,877
Year Built
- Built in 1890
Lot Details
- 0.32 Acre Lot
- Open Lot
Parking
- 1 Car Direct Access Garage
- Heated Garage
- Driveway
Home Design
- Duplex
- Contemporary Architecture
- New Englander Architecture
- Brick Foundation
- Block Foundation
- Slab Foundation
- Wood Frame Construction
- Pitched Roof
- Shingle Roof
- Vinyl Siding
Interior Spaces
- 4,417 Sq Ft Home
- Double Pane Windows
- Laundry on main level
Flooring
- Carpet
- Laminate
- Tile
- Vinyl
Bedrooms and Bathrooms
- Main Floor Bedroom
Unfinished Basement
- Basement Fills Entire Space Under The House
- Brick Basement
- Interior Basement Entry
Location
- Property is near public transit
- City Lot
Utilities
- No Cooling
- Heating System Uses Gas
- Heating System Uses Kerosene
- Heating System Mounted To A Wall or Window
- Tankless Water Heater
- Gas Water Heater
- Cable TV Available
Additional Features
- Deck
- Additional Residence on Property
Listing and Financial Details
- Tax Lot 52
- Assessor Parcel Number 20mountpleasantstreetbiddeford04005
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $17,867
- Gross Income $54,000
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/23/2021 07/23/21 | Sold | $475,000 | +1.3% | $108 / Sq Ft |
| 06/04/2021 06/04/21 | Pending | -- | -- | -- |
| 06/02/2021 06/02/21 | For Sale | $469,000 | +59.0% | $106 / Sq Ft |
| 10/31/2016 10/31/16 | Sold | $295,000 | -9.2% | $74 / Sq Ft |
| 09/25/2016 09/25/16 | Pending | -- | -- | -- |
| 08/13/2016 08/13/16 | For Sale | $325,000 | -- | $81 / Sq Ft |
Source: Maine Listings
Tax History Compared to Growth
Agents Affiliated with this Home
-
Jay Weinberg
-
S
Buyer's Agent in 2021
Sabine McElrath
Bean Group
-
K
Seller's Agent in 2016
Kim Fowler
Bean Group
Map
Source: Maine Listings
MLS Number: 1494456
APN: BIDD M:32 L:52
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