LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,468
Monthly Cash Flow
-$907
Principal + Equity
$4,194
Annual Total Gain
$39,442
Cash on Cash
-7.79%
Net ROI %
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
A-
Overall
Top-level market grade
Best Places to Live in Maine
#16out of 120 markets
Most Diverse Places to Live in Maine
#7out of 120 markets
Best Places for Young Professionals in Maine
#6out of 120 markets
C
Public School
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Portland, ME.
In Portland, ME, Short Term Rental (STR) regulations are governed by the city's Zoning Ordinance and the Housing Safety Office. Here are some key points that an investor should be aware of before investing in purchasing a property for Short Term Rental in Portland:
1. Zoning regulations: Portland has specific zoning regulations that dictate where Short Term Rentals are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits Short Term Rentals.
2. Licensing requirements: In order to operate a Short Term Rental in Portland, investors must obtain a Short Term Rental license from the city. This license must be renewed annually and there are fees associated with the application process.
3. Occupancy limits: Portland has occupancy limits for Short Term Rentals, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they comply with them.
4. Safety and health regulations: Short Term Rentals in Portland must meet certain safety and health standards, including having working smoke detectors, carbon monoxide detectors, and fire extinguishers. Investors should ensure that their property meets these requirements before renting it out.
5. Taxation: Short Term Rentals in Portland are subject to lodging taxes, which must be collected and remitted to the city. Investors should be aware of these tax obligations and ensure that they are in compliance with them.
6. Noise regulations: Portland has noise regulations that apply to Short Term Rentals, including quiet hours during which noise must be kept to a minimum. Investors should be aware of these regulations and ensure that their guests comply with them.
Overall, investors considering purchasing a property for Short Term Rental in Portland should thoroughly research and understand the city's regulations and requirements to ensure compliance and avoid any potential legal issues.
Market Trends Over Time
Explore 25 years of market data for Portland, ME, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Portland, ME.
The LTR Genie Score of Portland, ME is 69, indicating a moderate level of rentability for long-term rental properties in the area. This is likely influenced by the low LTR Rentability and modest LTR Rent Growth Rate. On the other hand, the STR Genie Score of 96 suggests a high level of rentability for short-term rental properties, driven by the strong STR Net ROI and high STR Occupancy rate.
In comparison, the STR Genie Score is significantly higher than the LTR Genie Score, indicating that the short-term rental market may present a more attractive investment opportunity in Portland, ME. With a 1-Year Price Appreciation Forecast of 2.74% and a STR Revenue of 4284, the market shows potential for growth and profitability in the short-term rental sector.
Considering these factors, Portland, ME appears to be more favorable for short-term rental investment rather than long-term rental investment. The high STR Genie Score and positive market indicators suggest that real estate investors may find success in the short-term rental market in this area. It is recommended for investors to explore opportunities in the short-term rental sector in Portland, ME to capitalize on the market's potential for high returns.
Portland, ME is known for its charming coastal location, vibrant arts scene, and bustling food and drink scene. The city offers a mix of historic architecture and modern amenities, making it an attractive destination for tourists and potential renters. Additionally, Portland's proximity to outdoor recreational activities, such as hiking, skiing, and boating, adds to its appeal as a desirable location for short-term rental properties.
LTR Genie Score 93
$195,000
🛏 2 Beds🛁 1.0000 Baths🏙 1,276 sqft.🏠 SINGLE FAMILY
