About this home
This premier multi-unit property offers a strategic blend of stable cash flow and significant value-add potential in the heart of Bangor. The upper level features a reliable, long-term tenant with an exemplary history, while the recently renovated lower level, requiring only minor finishing touches, is perfect for immediate owner-occupancy or a premium rental. Investors will benefit from day-one equity growth as current rents are well below market value and already feature approval for Section 8 increases. Beyond the interior's potential for forced appreciation, the property is situated directly on the natural gas line; converting the current oil-fired boiler to natural gas allows a free hookup from Bangor Gas, drastically reducing overhead and maximizing monthly margins. Unrivaled in convenience, this asset is within walking distance of the Waterfront, the Cross Center, and downtown dining, while sitting on a major bus route. Do not miss this chance to secure a high-performance asset in an optimal location.
Listing last checked: Listing updated:
Listed by Listing Agent · ERA Dawson-Bradford Co. · MLS #1662774
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Details at a glance
Interior3 property facts
- Heating
- Oil, Forced Air
- Cooling
- None
- Flooring
- Wood, Hardwood, Linoleum
Building5 property facts
- Style
- Other
- Year built
- 1900
- Garage
- 0
- Foundation
- Brick/Mortar
- Roof
- Shingle
Land & utilities4 property facts
- Lot size
- 0.09 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- Residential
Financial2 property facts
- Annual taxes
- $3,024
- Assessment year
- 2024
Location
Estimated monthly cost
Explore costs at the $259,900 asking price. Adjust the assumptions to your situation.
Known monthly costs$1,566 / monthAdjust
- Principal & interest
- $1,314
- Property tax
- $252
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $3,024. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
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About 16 Walter Street
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Request a tour of 16 Walter Street and a Bean Group agent will help coordinate an available time with the listing side.
Can you help me evaluate this property?
Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.
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