R
Seller's Agent in 2023
Ryan Arsenault
Cassie Mason Real Estate
(207) 890-4284
18 in this area
79 Total Sales
56 Spruce St Rumford, ME 04276
Estimated Value: $237,000 - $285,075
Studio
4.5
Baths
3,336
Sq Ft
$76/Sq Ft
Est. Value
Highlights
- Ski Resort
- Wood Flooring
- 2 Car Detached Garage
- Nearby Water Access
- No HOA
- 4-minute walk to Boivin Park
About This Home
As of November 2023Introducing a lucrative investment opportunity - a meticulously maintained 4-unit apartment building with a unique twist. This property boasts three spacious 2-bedroom units on the upper floors, catering to tenants seeking comfortable living spaces. However, what sets this property apart is its versatile basement unit. Originally used as a commercial hair salon, this space includes 2 bedrooms and 2.5 bathrooms, offering the potential for a seamless return to commercial use if desired.
Recent updates contribute to the property's appeal, with a brand-new roof installed in July 2023, ensuring durability and minimizing maintenance costs. A Buderus hot water furnace provides reliable heating for all units, enhancing tenant satisfaction and reducing operational concerns.
Notably, this building is fully occupied, generating a positive cash flow for the discerning investor. Its history of proper care and maintenance speaks to its longevity and continued profitability. Whether you're seeking an income-generating asset or contemplating the advantages of commercial use, this property offers both, making it a standout opportunity in the market. Don't miss the chance to seize this prime investment that combines stability with potential for growth.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,231
Year Built
- Built in 1927
Lot Details
- 7,405 Sq Ft Lot
- Level Lot
Parking
- 2 Car Detached Garage
- Common or Shared Parking
- Shared Driveway
- On-Street Parking
- Off-Street Parking
Home Design
- Wood Frame Construction
- Shingle Roof
- Vinyl Siding
Interior Spaces
- 3,336 Sq Ft Home
- Multi-Level Property
Flooring
- Wood
- Vinyl
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Outdoor Features
- Nearby Water Access
- Outbuilding
- Porch
Location
- City Lot
Utilities
- No Cooling
- Zoned Heating
- Heating System Uses Oil
- Baseboard Heating
- Hot Water Heating System
- Natural Gas Not Available
- Oil Water Heater
Listing and Financial Details
- Exclusions: Refrigerator in apartment #2 not include
- Tax Lot 024
- Assessor Parcel Number RUMF-000117-000000-000024
Community Details
Overview
- No Home Owners Association
- 4 Units
Recreation
- Ski Resort
Building Details
- Operating Expense $7,200
- Gross Income $32,400
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 1, 2023
Closed on
Nov 14, 2023
Sold by
Cormier James R
Bought by
Clausen Kelly-Ann
Seller's Agent
Ryan Arsenault
Cassie Mason Real Estate
Buyer's Agent
Paula Brush
Hebert Realty Group
List Price
$235,000
Sold Price
$245,000
Premium/Discount to List
$10,000
4.26%
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
$9,269
Avg. Annual Appreciation
1.65%
Original Mortgage
$240,562
Outstanding Balance
$235,319
Interest Rate
7.49%
Mortgage Type
FHA
Estimated Equity
$18,950
Purchase Details
Closed on
Jun 6, 2013
Sold by
Powers Kimberly R
Bought by
Prevost Kevin D and Brown Ryanne L
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Clausen Kelly-Ann | $245,000 | None Available | |
| Clausen Kelly-Ann | $245,000 | None Available | |
| Prevost Kevin D | -- | -- | |
| Prevost Kevin D | -- | -- | |
| Prevost Kevin D | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Clausen Kelly-Ann | $240,562 | |
| Closed | Clausen Kelly-Ann | $240,562 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/14/2023 11/14/23 | Sold | $245,000 | +4.3% | $73 / Sq Ft |
| 10/03/2023 10/03/23 | Pending | -- | -- | -- |
| 09/01/2023 09/01/23 | For Sale | $235,000 | -- | $70 / Sq Ft |
Source: Maine Listings
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 |
|---|---|---|---|---|
| 2025 | $2,635 | $140,700 | $17,300 | $123,400 |
| 2024 | $2,338 | $140,700 | $17,300 | $123,400 |
| 2023 | $2,231 | $100,600 | $12,400 | $88,200 |
| 2022 | $2,231 | $100,600 | $12,400 | $88,200 |
| 2021 | $2,258 | $100,600 | $12,400 | $88,200 |
| 2020 | $2,274 | $100,600 | $12,400 | $88,200 |
| 2019 | $2,333 | $76,504 | $5,500 | $71,004 |
| 2018 | $2,276 | $76,504 | $5,500 | $71,004 |
| 2017 | $2,207 | $76,504 | $5,500 | $71,004 |
| 2016 | $2,142 | $76,504 | $5,500 | $71,004 |
| 2015 | $2,100 | $76,504 | $5,500 | $71,004 |
| 2014 | $2,062 | $76,504 | $5,500 | $71,004 |
Source: Public Records
Agents Affiliated with this Home
-
Ryan Arsenault
-
Matt Pingree
Seller Co-Listing Agent in 2023
Matt Pingree
Amnet Realty
(207) 357-8891
70 in this area
212 Total Sales
-
Paula Brush
P
Buyer's Agent in 2023
Paula Brush
Hebert Realty Group
(475) 236-1273
13 in this area
21 Total Sales
Map
Source: Maine Listings
MLS Number: 1570795
APN: RUMF-000117-000000-000024
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Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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