284 Main St Madawaska, ME 04756
Estimated payment $2,305/month
Highlights
- Property is near public transit
- Corner Lot
- Hot Water Heating System
- Wood Flooring
- No HOA
About This Home
Strong investment opportunity in Downtown Madawaska. Large multi-use building is comprised of two three bedroom apartments and a commercial restaurant and bar space which is currently operating and profitable. Sale includes said restaurant and bar with all furniture, fixtures, and equipment. The layout is spread over five floors, with the two apartments on the fourth and fifth levels, with the restaurant on the maine floor and two basement levels. Basement consists of kitchens, storage, extra restrooms, and a couple of walk out entrances to Bridge Street. The lowest, furthest back basement section could easily be converted into a garage with direct access to the building. Monthly rental income from tenants and restaurant is $4,400. The Main Street location is right in the middle of it all, with the Twin Rivers Paper Mill and all of its employees just behind it and Party du Main Street right in front every year. Good location, solid tenants and a business, and a building that can become anything you need it to. FULLY SPRINKLED and Fire Marshall Compliant. Pre Qualified buyers can call to arrange tours of the property.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,439
Year Built
- Built in 1923
Lot Details
- 4,356 Sq Ft Lot
- Corner Lot
Home Design
- Concrete Foundation
- Membrane Roofing
- Metal Roof
- Concrete Perimeter Foundation
- Masonry
Flooring
- Wood
- Laminate
- Tile
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
Parking
- No Driveway
- On-Street Parking
Location
- Property is near public transit
- City Lot
Utilities
- No Cooling
- Heating System Uses Oil
- Pellet Stove burns compressed wood to generate heat
- Hot Water Heating System
- Natural Gas Not Available
Additional Features
- Stove
- 2 Full Bathrooms
Listing and Financial Details
- Tax Lot 15
- Assessor Parcel Number 284MainStreetMadawaska04756
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Gross Income $16,800
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2022 | $3,933 | $172,900 | $15,900 | $157,000 |
| 2021 | $3,804 | $172,900 | $15,900 | $157,000 |
| 2020 | $3,951 | $172,900 | $15,900 | $157,000 |
| 2019 | $4,011 | $172,900 | $15,900 | $157,000 |
| 2018 | $3,493 | $172,900 | $15,900 | $157,000 |
| 2017 | $3,406 | $172,900 | $15,900 | $157,000 |
| 2016 | $3,233 | $172,900 | $15,900 | $157,000 |
| 2015 | $3,216 | $172,900 | $15,900 | $157,000 |
| 2014 | $3,008 | $172,900 | $15,900 | $157,000 |
| 2013 | $3,095 | $172,900 | $15,900 | $157,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/14/2025 03/14/25 | Price Changed | $349,000 | -12.5% | $43 / Sq Ft |
| 12/30/2024 12/30/24 | Price Changed | $399,000 | -9.1% | $49 / Sq Ft |
| 12/18/2024 12/18/24 | For Sale | $439,000 | -- | $54 / Sq Ft |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Available | |
| Not Resolvable | -- | -- | |
| Deed In Lieu Of Foreclosure | -- | -- | |
| Deed In Lieu Of Foreclosure | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $200,000 | Purchase Money Mortgage | |
| Closed | $200,000 | Purchase Money Mortgage | |
| Previous Owner | $70,000 | Commercial | |
| Previous Owner | $36,000 | Unknown | |
| Previous Owner | $172,500 | Commercial |
Source: Maine Listings
MLS Number: 1611352
APN: MADA-000004-000000-000015
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