131 Penobscot StreetRumford, ME 04276Price: $199,900

Income-property opportunity at 131 Penobscot Street in Rumford, currently configured as three residential units with 2 occupied apartments and a vacant upper unit. Public records report approximately 2,016 square feet, three bathrooms and about 0.16 acres. The building is served by municipal water and public sewer. The seller reports that the original clay sewer lateral was replaced with PVC approximately 20 years ago. Heat is provided by an oil-fired boiler with two approximately 275-gallon oil tanks that the seller estimates to be about 20 years old. Multiple electric domestic water heaters, three laundry hookups and four electrical panels were observed; exact utility allocation and metering require party verification. The main roof was reportedly replaced approximately five years ago. The front porch roof was not included in that work and currently shows evidence of leakage and interior water staining; the seller is evaluating repair. The seller has also observed a possible area of the newer main roof that may need attention. A former rear porch collapsed and was not rebuilt, and the associated exterior door remains secured. The property has a shared/common driveway; the seller reports that neighboring properties have rights to use it. The seller also reports that a sewer/plumbing service line serving a rear neighboring property passes through the cellar, so parties should review the deed, easement rights and maintenance responsibilities. The upper unit includes an exterior secondary exit and a bathroom sewage ejector/lift-pump system. The property is presently configured and used as three units, but municipal approval and legal three-unit status have not been independently verified. With one unit vacant and existing occupancy in the others, this property offers a path for an investor or owner-occupant to improve operations and rents over time. Parties should verify leases, income, permitted use, systems, parking, easements and condition as part of due diligence.