Property Description

Historic Newcastle Opportunity with Income & Expansion Potential! Built in the early 1900s and ideally located at the end of a quiet lane, surrounded by an attractive collection of distinguished homes, this spacious property is ready for its next chapter. Seasonal views of downtown and the river add to the home's picturesque setting. Offering 3 bedrooms plus a bonus room and 2 bathrooms in the main residence and a separately metered third-floor apartment with its own private entrance, this property presents a rare opportunity for homeowners, investors, contractors, or anyone looking to build equity through renovation. The property's size and existing layout may also offer potential for reconfiguration or conversion into additional residential units, subject to municipal approvals, permitting, and applicable code requirements?creating an intriguing opportunity for an investor looking to maximize the property's income-producing potential. Major improvements have already been completed, including a new roof, refinished wood floors, and all new replacement windows, allowing the next owner to focus on restoring and customizing the interior. The separate apartment provides an exceptional advantage?it can serve as temporary living quarters while renovating the main home or continue as an income-producing rental after the project is complete. Conveniently located just a few blocks from downtown Newcastle and neighboring Damariscotta's restaurants, shops, library, waterfront, and local amenities, this property offers endless possibilities?from creating a beautiful in-town residence with supplemental rental income to exploring a larger multi-unit investment configuration. Kitchen design available, recent passing septic inspection available, and a quote is available for connection to public sewer if desired. The property is eligible for a variety of financing options, including FHA, Conventional, and FHA 203(k) renovation financing. See also MLS 1678986

Property Features