About this home
Positioned close to the University of Maine, 42 Island Avenue presents an appealing opportunity for buyers exploring the college rental market. Its convenient Orono location puts campus, downtown dining, shops, and local favorites within easy reach, bringing together the everyday conveniences that can help a rental property stand out. For investors looking to establish or expand a rental portfolio, proximity to UMaine is a key draw. Explore the potential for student rental income in a university community, with a location that connects tenants to both campus life and downtown amenities. Orono Brewing Company is nearby, adding to the neighborhood's local appeal as well as a large convenient store at the top of the road. Whether you are considering your first investment property or adding to an existing portfolio, this profitable property deserves a closer look. A convenient location, access to the university, and rental income potential make 42 Island Avenue an opportunity to explore in the Orono market. Lease is up in August of 2027. No vacancy rate due to students finding roommates after Landlord screening and approval.
Listing last checked: Listing updated:
Listed by Listing Agent · Better Homes & Gardens Real Estate/The Masiello Group · MLS #1684495
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Details at a glance
Interior5 property facts
- Rooms
- 7
- Heating
- Electric, Oil, Forced Air
- Cooling
- Heat Pump
- Flooring
- Laminate, Vinyl, Wood
- Fireplaces
- 0
Building4 property facts
- Style
- Single Family Residence
- Year built
- 1917
- Garage
- 0
- Roof
- Shingle
Land & utilities4 property facts
- Lot size
- 0.08 acres
- Water
- Public
- Sewer
- Public Sewer
- Zoning
- MDR
Financial2 property facts
- Annual taxes
- $3,154
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $199,900 asking price. Adjust the assumptions to your situation.
Known monthly costs$1,274 / monthAdjust
- Principal & interest
- $1,011
- Property tax
- $263
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $3,154. 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 42 Island Avenue
Can I request a private showing?
Request a tour of 42 Island Avenue 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.
Are property documents available?
Availability varies by property and source. Request the documents you need and we will help obtain what is available.