House Island Holdings LLC Acquires 12 Acre Island In Hope Island For $5.35M
Cumberland, Maine, United States
$5,350,000
Building Size
—
Asset Type
—
Closing
Apr 7, 2022
About this deal
AI
House Island, a stunning 12-acre island located in Hope Island, Cumberland, ME, has been sold for a staggering amount of $5,350,000. The transaction took place on April 8, 2022. The island boasts breathtaking views and offers a unique opportunity for the new owners to create their own private oasis.
Summary of transaction details
- Property Type: Island
- Transaction Amount: $5,350,000
- Address: Hope Island, Cumberland, ME
- Market: Cumberland, ME
- Acres: 12
The buyer, House Island Holdings LLC, made this significant acquisition through the expertise of their broker representative, Beth Taylor from Legacy Properties Sotheby's International Realty. Beth Taylor played a crucial role in facilitating the deal and ensuring a smooth transaction for both parties involved.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93