A
Seller's Agent in 2023
Amber
The Collective Real Estate Co
(207) 808-3050
5 in this area
42 Total Sales
75 E Grand Ave Old Orchard Beach, ME 04064
Estimated Value: $884,000 - $1,229,000
5
Beds
3
Baths
1,776
Sq Ft
$620/Sq Ft
Est. Value
Highlights
- Ocean Front
- Public Beach
- Property is near public transit
- Nearby Water Access
- Contemporary Architecture
- No HOA
About This Home
As of November 2023Old Orchard Beach, considered one the top investment locations in Maine! This well cared for 3 unit, just steps from the sands of the Atlantic, offers creative and lucrative short term and long term rental options - with a layout that lends itself to 3 separate units or combine to make one large property offering privacy and space ideal for multi family parties. With an NOI of over $90k, there are few investments yielding this return in our current market. Guests and tenants alike are drawn to a main feature of this property, the one thing you can't change in real estate - location! Easily accessible to restaurants, shops, the pier, and miles of sandy beach. With all furnishings negotiable and a local property management team with proven success in some of the highest grossing rental properties in Maine available to you, this is truly a turn key investment.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,193
Year Built
- Built in 1940
Lot Details
- 1,742 Sq Ft Lot
- Ocean Front
- Public Beach
- Level Lot
- Open Lot
Home Design
- Contemporary Architecture
- Concrete Foundation
- Wood Frame Construction
- Shingle Roof
- Vinyl Siding
- Concrete Perimeter Foundation
Interior Spaces
- 3 Full Bathrooms
- 1,776 Sq Ft Home
- Screened Porch
- Laminate Flooring
- Water Views
Unfinished Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
- Interior and Exterior Basement Entry
Parking
- Carport
- Driveway
- Paved Parking
- Reserved Parking
Outdoor Features
- Nearby Water Access
Location
- Property is near public transit
- Property is near a golf course
- City Lot
Utilities
- No Cooling
- Forced Air Heating System
- Heating System Uses Oil
- Heating System Uses Propane
- Baseboard Heating
- Electric Water Heater
Listing and Financial Details
- Legal Lot and Block 6 / 3
- Assessor Parcel Number 75EGrandAveOOB04064
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $22,156
- Gross Income $113,810
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 14, 2023
Closed on
Nov 6, 2023
Sold by
The Driftwood House Llc
Bought by
Casagrande Properties Llc
Seller's Agent
Amber
The Collective Real Estate Co
Buyer's Agent
Rick Dow
Keller Williams Realty
List Price
$1,100,000
Sold Price
$1,050,000
Premium/Discount to List
-$50,000
-4.55%
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
$42,719
Avg. Annual Appreciation
7.02%
Original Mortgage
$787,500
Outstanding Balance
$776,409
Interest Rate
7.19%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$405,137
Purchase Details
Closed on
May 5, 2022
Sold by
Bicchieri Ft and Bicchieri
Bought by
Driftwood House Llc
Purchase Details
Listed on
Jul 24, 2021
Closed on
Sep 15, 2021
Sold by
Sherrys Place Llc
Bought by
Bicchieri Ft and Bicchieri
Seller's Agent
Bailey Pate
Keller Williams Realty
Buyer's Agent
Amber Purty
Keller Williams Realty
List Price
$649,000
Sold Price
$675,000
Premium/Discount to List
$26,000
4.01%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.52%
Original Mortgage
$506,250
Interest Rate
2.7%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Feb 18, 2014
Sold by
Weinstein Sarah B
Bought by
Sherrys Place Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
4.15%
Mortgage Type
Unknown
Purchase Details
Closed on
Dec 20, 2013
Sold by
Beaudoin Barbara B and Beaudoin
Bought by
Weinstein Sarah B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
4.15%
Mortgage Type
Unknown
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Casagrande Properties Llc | $1,050,000 | None Available | |
| Casagrande Properties Llc | $1,050,000 | None Available | |
| Driftwood House Llc | -- | None Available | |
| Driftwood House Llc | -- | None Available | |
| Bicchieri Ft | -- | None Available | |
| Bicchieri Ft | -- | None Available | |
| Sherrys Place Llc | -- | -- | |
| Sherrys Place Llc | -- | -- | |
| Weinstein Sarah B | -- | -- | |
| Weinstein Sarah B | -- | -- | |
| Weinstein Sarah B | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Casagrande Properties Llc | $787,500 | |
| Closed | Casagrande Properties Llc | $787,500 | |
| Previous Owner | Bicchieri Ft | $506,250 | |
| Previous Owner | Weinstein Sarah B | $400,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/06/2023 11/06/23 | Sold | $1,050,000 | -4.5% | $591 / Sq Ft |
| 09/25/2023 09/25/23 | Pending | -- | -- | -- |
| 09/14/2023 09/14/23 | For Sale | $1,100,000 | +63.0% | $619 / Sq Ft |
| 09/15/2021 09/15/21 | Sold | $675,000 | +4.0% | $386 / Sq Ft |
| 07/25/2021 07/25/21 | Pending | -- | -- | -- |
| 07/15/2021 07/15/21 | For Sale | $649,000 | -- | $371 / 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 | $7,825 | $719,200 | $343,200 | $376,000 |
| 2023 | $7,200 | $631,600 | $305,200 | $326,400 |
| 2022 | $6,098 | $498,200 | $265,400 | $232,800 |
| 2021 | $5,202 | $367,400 | $198,400 | $169,000 |
| 2020 | $4,749 | $308,000 | $167,800 | $140,200 |
| 2019 | $4,774 | $308,000 | $167,800 | $140,200 |
| 2018 | $4,691 | $306,600 | $167,800 | $138,800 |
| 2017 | $4,454 | $283,700 | $153,900 | $129,800 |
| 2016 | $4,204 | $271,900 | $140,400 | $131,500 |
| 2015 | $4,127 | $271,900 | $140,400 | $131,500 |
| 2014 | $4,046 | $271,900 | $140,400 | $131,500 |
| 2013 | $3,752 | $271,900 | $140,400 | $131,500 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2023
Rick Dow
Keller Williams Realty
(207) 332-3741
2 in this area
157 Total Sales
-
B
Seller's Agent in 2021
Bailey Pate
Keller Williams Realty
-
A
Buyer's Agent in 2021
Amber Purty
Keller Williams Realty
Map
Source: Maine Listings
MLS Number: 1572036
APN: OOBH-000304-000003-000006
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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