$637,500
SOLD NOV 14, 2024

35 Academy Hill St Newcastle, ME 04553

-- Bed
6 Baths
2,784 Sq Ft
10,454 Sq Ft Lot

Recently Sold

$229 Per Sq Ft

4% Below List Price

3 Days on Market

Highlights

  • Nearby Water Access
  • Colonial Architecture
  • Corner Lot
  • Great Salt Bay Community School Rated A-
  • Wood Flooring
  • No HOA

About This Home

As of November 2024

Welcome to the Beehive Apartments located just a couple blocks from the downtown shopping and dining of the Twin Villages of Damariscotta/Newcastle. Featuring six 1BR/1 bath apartments with a long history of full occupancy, onsite parking for nine cars with additional parking just steps away on Depot St. Recent new roof. An excellent opportunity in a desirable area.

Last Agent to Sell the Property

Kirstie Ransdell

Keller Williams Realty Listed on: 09/07/2024

Keller Williams Realty

Co-Listed By

James Cosgrove

Keller Williams Realty

Last Buyer's Agent

Joanne Moore

Legacy Properties Sotheby's International Realty

Legacy Properties Sotheby's International Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,700

Year Built

  • Built in 1900

Lot Details

  • 10,454 Sq Ft Lot
  • Corner Lot
  • Level Lot
  • Open Lot

Home Design

  • Colonial Architecture
  • Wood Frame Construction
  • Shingle Roof
  • Composition Roof
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 6 Full Bathrooms
  • 2,784 Sq Ft Home
  • 3-Story Property

Flooring

  • Wood
  • Carpet
  • Vinyl

Basement

  • Basement Fills Entire Space Under The House
  • Exterior Basement Entry
  • Dirt Floor

Parking

  • Common or Shared Parking
  • Gravel Driveway
  • Shared Driveway
  • On-Site Parking

Utilities

  • No Cooling
  • Heating System Uses Coal
  • Heating System Uses Oil
  • Baseboard Heating
  • Hot Water Heating System

Additional Features

  • Nearby Water Access
  • City Lot

Listing and Financial Details

  • Tax Lot 2
  • Assessor Parcel Number NEWC-000013-000000-000002

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Building Details

  • Operating Expense $15,570
  • Gross Income $70,524

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,700

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.24
  • Co List Office Mls Id: 3476
  • Co List Office Phone: 207-879-9800
  • MLS Status: Closed
  • Directions: From Business Rte 1/Main Street in Damariscotta/Newcastle stay straight crossing Mills Rd to continue up Academy Hill Street
  • Above Grade Finished Sq Ft: 2784.0
  • Architectural Style: Colonial
  • Garage Yn: No
  • Building Stories: 3
  • Year Built: 1900
  • Location Information:Leased Land: No
  • Property Information:Lot Size Acres -: 0.24
  • Property Information:Total Baths: 6.0
  • Property Information:SqFt Finished Above Grade: 2784.0
  • Property Information:Garage: No
  • Site:Corner Lot: Yes
  • 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:Hot Water: Yes
  • Heat Fuel:Oil: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Vinyl: Yes
  • Floors:Wood3: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Exterior:Vinyl Siding: Yes
  • Driveway:Common2: Yes
  • Roof:Metal: Yes
  • Roof:Composition2: Yes
  • Property Information:Number of Units: 6
  • Building Info:_pound_ Stories2: 3
  • Income Expenses Gross Income: 70524.0
  • Income Expenses Operating Expenses: 15570.0
  • Parking:On Site2: Yes
  • Style:Colonial: Yes
  • Basement:Dirt Floor: Yes
  • Recreational Water:Nearby: Yes
  • Driveway:Gravel: Yes
  • Heat Fuel:Coal: Yes
  • Basement Entry:Exterior Only: Yes
  • Building Info:_pound_ Floors3: 3
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Has Basement: Bulkhead, Dirt Floor, Full, Exterior Entry, Exterior Only
  • Full Bathrooms: 6
  • Fireplace: No
  • Flooring: Wood, Vinyl, Carpet
  • Stories: 3
  • Full Basement: Yes

Exterior Features

  • Lot Features: Corner Lot, Level, Open Lot, Intown, Near Shopping
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Roof: Composition, Metal, Shingle

Garage/Parking

  • Attached Garage: No
  • Parking Features: 5 - 10 Spaces, Gravel, Common, On Site

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Hot Water, Baseboard
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 10454.4
  • Parcel #: NEWC-000013-000000-000002
  • Zoning: SD-fabrication

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 70524.0
  • Annual Operating Expense: 15570.0

Tax Info

  • Tax Annual Amount: 5700.0
  • Tax Book Number: 2195
  • Tax Lot: 2
  • Tax Map Number: 13
  • Tax Year: 2024

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 7, 2024
Closed on
Nov 14, 2024
Sold by
Beehive T T and Beehive Lee
Bought by
76 Marble Llc
Seller's Agent
Kirstie Ransdell
Keller Williams Realty
Buyer's Agent
Joanne Moore
Legacy Properties Sotheby's International Realty
List Price
$665,000
Sold Price
$637,500
Premium/Discount to List
-$27,500
-4.14%
Views
16
Current Estimated Value
$679,721

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$42,221
Avg. Annual Appreciation
-0.69%
Original Mortgage
$555,000
Outstanding Balance
$552,273
Interest Rate
6.12%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$82,637
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $637,500 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $555,000 Purchase Money Mortgage
Closed $537,500 Stand Alone Refi Refinance Of Original Loan
Closed $25,000 Stand Alone Refi Refinance Of Original Loan
Previous Owner $410,000 Stand Alone Refi Refinance Of Original Loan
Previous Owner $31,541 Unknown
Previous Owner $20,000 Stand Alone Second
Previous Owner $20,000 Unknown
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/14/2024 11/14/24 Sold $637,500 -4.1% $229 / Sq Ft
09/10/2024 09/10/24 Pending -- -- --
09/07/2024 09/07/24 For Sale $665,000 -- $239 / 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 $5,700 $419,100 $104,000 $315,100
2023 $4,714 $294,600 $82,400 $212,200
2022 $4,684 $294,600 $82,400 $212,200
2021 $4,507 $294,600 $82,400 $212,200
2020 $7,026 $270,200 $65,000 $205,200
2019 $6,322 $270,200 $65,000 $205,200
2018 $6,136 $270,200 $65,000 $205,200
2017 $7,629 $270,200 $65,000 $205,200
2016 $5,925 $270,200 $65,000 $205,200
2015 $4,877 $270,200 $65,000 $205,200
2013 $4,296 $270,200 $65,000 $205,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Maine Listings

MLS Number: 1603013

Maine Listings

APN: NEWC-000013-000000-000002