771 Gray Rd Gorham, ME 04038
Estimated payment $5,147/month
Highlights
- Federal Architecture
- 4 Fireplaces
- Porch
- Great Falls Elementary School Rated A-
- No HOA
- Tile Flooring
About This Home
Investors and owner-occupants take notice! This 4-unit multi-family property offers an excellent opportunity in a growing Gorham location with strong income and long-term potential. Featuring a versatile unit mix, including three 2-bedroom apartments and one spacious 4-bedroom unit, this property provides options for both rental investment and the possibility of owner occupancy. Ideally situated near the new elementary school, Red City Tavern, and just minutes from Windham, the location continues to see increasing demand. With ample off-street parking and classic brick construction, this is a solid asset ready for a new owner's vision. The property would benefit from cosmetic updates, making it a great value-add opportunity to build equity and maximize future returns. SHOWINGS WILL HAPPEN IN TIME BLOCKS
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,031
Year Built
- Built in 1900
Home Design
- Federal Architecture
- Pitched Roof
- Shingle Roof
Interior Spaces
- 4,673 Sq Ft Home
- 3-Story Property
- 4 Fireplaces
Flooring
- Tile
- Vinyl
Basement
- Doghouse Basement Entry
- Interior Basement Entry
Utilities
- No Cooling
- Baseboard Heating
- Hot Water Heating System
Additional Features
- Porch
- 0.59 Acre Lot
Listing and Financial Details
- Tax Lot 101
- Assessor Parcel Number GRHM-000111-000101
Community Details
Overview
- No Home Owners Association
- 4 Units
Building Details
- Operating Expense $29,070
- Gross Income $133,200
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 |
|---|---|---|---|---|
| 2024 | $10,031 | $682,400 | $150,800 | $531,600 |
| 2023 | $9,383 | $682,400 | $150,800 | $531,600 |
| 2022 | $8,769 | $682,400 | $150,800 | $531,600 |
| 2021 | $6,427 | $331,300 | $97,300 | $234,000 |
| 2020 | $6,295 | $331,300 | $97,300 | $234,000 |
| 2019 | $6,278 | $331,300 | $97,300 | $234,000 |
| 2018 | $6,030 | $331,300 | $97,300 | $234,000 |
| 2017 | $5,665 | $331,300 | $97,300 | $234,000 |
| 2016 | $5,629 | $331,100 | $97,100 | $234,000 |
| 2015 | $5,850 | $358,900 | $124,900 | $234,000 |
| 2014 | -- | $293,000 | $94,800 | $198,200 |
| 2013 | $5,069 | $293,000 | $94,800 | $198,200 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 12/29/2025 12/29/25 | For Sale | $830,000 | +3.1% | $178 / Sq Ft | |
| 06/22/2022 06/22/22 | Sold | $805,000 | +15.8% | $172 / Sq Ft | View Prior Sale |
| 04/01/2022 04/01/22 | Pending | -- | -- | -- | |
| 03/22/2022 03/22/22 | For Sale | $695,000 | +98.6% | $149 / Sq Ft | |
| 04/15/2016 04/15/16 | Sold | $350,000 | -6.7% | $75 / Sq Ft | View Prior Sale |
| 03/03/2016 03/03/16 | Pending | -- | -- | -- | |
| 11/04/2015 11/04/15 | For Sale | $375,000 | -- | $80 / Sq Ft |
Source: Maine Listings
MLS Number: 1647309
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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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