A Look Inside The Cheapest Home For Sale In Waterville
According to Coldwell Banker's website, the home at 5 Oak Street in Waterville is currently setup as apartments.
Built in 1900, the 3,600 square foot building sits on a 5,200 square foot lot. In total, the building has 7 bedrooms and 4 bathrooms. While it does not specifically say, it looks as though the building currently has four apartments.
The house has an oil furnace that provides baseboard heat. Not a surprise, it has no integrated cooling system.
From the following pictures, it seems pretty clear that when it was built, it was intended to be a large single family home. But, as the City of Waterville changed, it found a new life as an apartment building.
Clearly, the place needs some work. But, if you were to purchase it, you could combine two of the apartments into a master apartment. That would leave the others as an income source. It would probably be very easy to more than cover your mortgage of the rent.
The current list price is about 53,000, but the estimated value from Trulia is $93,000