8 Preble Avenue, Madison, ME, 04950
About This Home
13047 - Well-maintained 2-unit apartment building offering an excellent opportunity for investors or owner-occupants. The first-floor unit features one bedroom, while the upper-level unit offers two bedrooms and is occupied by a long-term tenant of several years. Both units are currently rented, providing immediate income. Property includes a two-car detached garage, an additional storage shed, and a nice yard. Conveniently located close to town, shopping, and local amenities. Solid rental history and desirable location make this a strong income-producing property.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Materials
- Foundation: Poured Concrete
- Roof: Metal
- Construction materials: Wood Frame,Vinyl Siding
Type & Style
- Home type: MultiFamily
- Architectural style: Split Level
- Property subType: Multi Family
Interior
Basement
- Has basement: Yes
- Basement: Doghouse,Interior Entry,Full
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Features
- Flooring: Carpet,Laminate,Wood
- Finished area below ground: 0
- Finished area above ground: 1,632
Heating & Cooling
- Heating features: Direct Vent Heater,Forced Air
- Cooling features: None
Interior Area
- Total structure area: 1,632
- Total interior livable area: 1,632 sqft
Property
Details
- Parcel number: MADNM017L032
- Zoning: None
Lot
- Lot size: 9,583 sqft
- Features: Near Town,Level,Open Lot
Parking
- Total spaces: 2
- Parking features: Gravel,5 - 10 Spaces,On Site
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Lightning
- Winter Weather
- Ice Storm
- Drought
- Hurricane
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters Across Maine Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $757 | $9,084 |
| Home Insurance | $83 | $996 |
| Property Taxes | $199 | $2,388 |
| Electricity | $244 | $2,930 |
| Total | $1,283 | $15,396 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-11 | Price change | $149,900 |
| 2026-01-09 | Listed for sale | $159,900 |
| 2019-09-30 | Sold | $74,000 |
| 2018-06-18 | Listed for sale | $74,900 |
| 2018-03-29 | Listing removed | $74,900 |
| 2017-08-29 | Listed for sale | $74,900 |
For Sale by Agent
View on Zillow