323 Cumberland Street, Rumford, ME 04276

Rumford
Local realty services provided by:Better Homes and Gardens Real Estate The Masiello Group
323 Cumberland Street,Rumford, ME 04276
$400,000
  • - Beds
  • 8 Baths
  • 6,300 sq. ft.
  • Multi-family
  • Active
Listed by: tyler stewart
Office: elevate maine realty
MLS#:1652952
Source:ME_MREIS

Price summary

  • Price:$400,000
  • Price per sq. ft.:$63.49

About this home

8-unit multifamily investment delivering strong in-place income and substantial value-add potential. Currently operating at a 10.6% cap rate, the property includes 2 vacant units, offering immediate opportunity to renovate and lease at market rents with a projected 16%+ stabilized cap. The asset features a versatile unit mix of (1) 4-bedroom, (3) 3-bedroom, and (4) 1-bedroom units, appealing to a broad tenant base. Separate electric and a solid structure support efficient operations and long-term durability. Several long-term tenants provide consistent cash flow while improvements are executed. Well located just minutes from downtown and major employers, this is a compelling high-yield opportunity with clear upside through unit upgrades and rent optimization.

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Home facts

  • Year built:1920
  • Listing ID #:1652952
  • Updated:April 25, 2026 at 03:09 PM

Rooms and interior

  • Total bathrooms:8
  • Full bathrooms:8
  • Flooring:Tile, Vinyl
  • Basement Description:Full, Unfinished
  • Living area:6,300 sq. ft.

Heating and cooling

  • Heating:Baseboard, Hot Water

Structure and exterior

  • Year built:1920
  • Building area:6,300 sq. ft.
  • Lot area:0.14 Acres
  • Lot Features:Intown, Level, Sidewalks
  • Construction Materials:Vinyl Siding, Wood Frame

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$400,000
  • Price per sq. ft.:$63.49
  • Tax amount:$2,956 (2025)

Parking

  • Parking description:1 - 4 Spaces, Common
  • Garage:Yes
  • Garage spaces:1
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