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16 High Street
Score
0
New Vineyard, ME

16 High Street

50K
10 bd • 2 ba • 5,500 sf

This analysis was generated on 2/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$50,000

Price/Sq.Ft

$9

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Low price per square foot ($9.09): This is significantly below the average cost per square foot in Maine, offering a potential value play for investors or buyers willing to undertake extensive renovations. The statewide average is closer to $200/sqft. • Large square footage (5,500 sqft): The property offers ample space for a variety of uses, including residential, commercial, or mixed-use, subject to zoning regulations. • Potential for historical renovation: The property may have historical significance, making it eligible for tax credits and grants for restoration. • Large lot size (unspecified, but assumed based on rural location): The property likely sits on a substantial lot, offering privacy and potential for expansion.

The Bad

• Unknown year built and property details: The lack of information makes it difficult to assess the property's true condition and potential risks. A thorough inspection is essential to uncover hidden problems. • Extensive renovation required: The property is in disrepair and requires significant investment to make it habitable. This includes structural repairs, cosmetic updates, and potential system upgrades. • Rural location: New Vineyard is a small, rural town with limited amenities and job opportunities. This may not be suitable for buyers seeking a more urban lifestyle.

The Ugly

• Unknown condition of utilities and systems: The lack of utility information raises serious concerns about the functionality of water, sewer, electricity, and heating systems. These systems may be outdated, damaged, or non-existent, requiring costly replacements or upgrades. • Potential environmental hazards: Properties of this age often contain lead-based paint and asbestos, which pose health risks and require professional remediation. • Risk of code violations: The property may not meet current building codes, requiring costly upgrades to electrical, plumbing, and HVAC systems. • High renovation costs: The extensive repairs and upgrades required to make the property habitable could easily exceed the initial purchase price, potentially reaching hundreds of thousands of dollars. • Uncertainty about zoning regulations: The property's zoning designation is unknown, which could restrict its potential uses and require costly variances or permits.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Investors specializing in historic restoration projects: The low price per square foot ($9.09) and substantial size (5,500 sqft) offer a significant opportunity for value creation through renovation and potential historical landmark designation. • Buyers seeking large properties for adaptive reuse: The sheer size and existing structure may be suitable for conversion into apartments, a bed and breakfast, or community space, pending zoning approval. • Buyers comfortable with significant renovation and potential environmental remediation: Individuals prepared to invest in extensive repairs, updates, and possible environmental assessments (lead paint, asbestos) will find the low initial price attractive. • Buyers looking for a project property: Someone who wants to customize a large space to their specific needs and is not in a hurry to move in.

Not For

• Buyers seeking move-in ready homes: The property requires extensive renovations and is uninhabitable in its current condition. • Buyers with limited budgets: Renovation costs for a property of this size and condition can easily exceed the initial purchase price. Unforeseen issues (structural problems, environmental hazards) can further inflate expenses. • Buyers requiring immediate access to amenities: New Vineyard is a rural town with limited access to shopping, dining, and entertainment options. Commuting to larger towns for these services will be necessary. • Buyers unfamiliar with historic renovation: Restoring a property of this age requires specialized knowledge, skills, and adherence to historical preservation guidelines.
Demographics
Area Median Income

$0

Property History

Price History
Ownership Timeline
$0Cash Purchase
May 21, 2019
Noel K JonesJames J Jones, Robert E Jones
Warranty Deed
Non-Arm's Length Transactions

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Risk Analysis

• Undisclosed structural issues: The lack of property details raises concerns about the building's structural integrity. Foundation problems, roof damage, and termite infestations could require costly repairs, potentially exceeding $50,000. • Environmental hazards: Properties built before 1978 are likely to contain lead-based paint and asbestos. Remediation can be expensive, costing $5,000-$15,000 depending on the extent of the contamination. • Code violations: The property may not meet current building codes, requiring significant upgrades to electrical, plumbing, and HVAC systems. These upgrades can add tens of thousands of dollars to the renovation budget. • Limited access to financing: Securing a mortgage for a property in this condition may be challenging. Lenders may require a larger down payment or deny financing altogether. Alternative financing options, such as renovation loans, may have higher interest rates. • Rural infrastructure challenges: The property's location in a rural area presents challenges related to internet connectivity, cell service, and access to essential services. These factors can impact property value and quality of life.

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Financials

Monthly Costs
Market Rent (10 bed)

$0

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$50,000
Price/sqft
$9
Layout
10 bd•2 ba

Stats in the Area

Based on 1 comparable properties nearby

Average Price

$32,000

56.3%

Your price is 56.3% above average

Median Price

$32,000

56.3%

Based on 1 recent sales

Price per Sq.Ft

N/A

No price per sq.ft data available

Comparable Properties

R8 L4-6 Shingle Mill Drive, New Vineyard, ME 04956
Price: $32,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/24/2024

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