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8 Thomas Street, Madison, ME 04950

$380,000
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Active
BATHS4 full SQUARE FEET2,012 MLS#1651300
STATUSActive PROPERTY TYPEMulti Unit - Multiple SCHOOLRSU 59-MSAD 59

Property Description

Extensively renovated 4-unit multifamily in a quiet, in-town Madison location with strong value-add potential. Since 2018, the owner has redesigned each unit entirely and completed multiple additions, along with full re-insulation of walls, ceilings, and floors and added 2x6 posts for additional structural support in areas of expansion. Distinctive finishes include reclaimed wood accent walls crafted from original materials and reclaimed brick feature walls salvaged during chimney removal.All four units are 1-bedroom layouts, each offering private outdoor space with a balcony or patio. One interior unit remains in progress, and exterior improvements?including remaining siding, staircases, balconies, and railings?present an opportunity for a buyer to complete the final phase and add value. Rear stair components for the second-floor balconies have already been purchased and are ready for installation. The property is not zoned, allowing flexibility for residential or commercial use (buyer to verify). An additional storage structure is included and conveyed as-is. Conveniently located near town amenities while maintaining a quiet neighborhood setting.This property is currently operating successfully as a short-term vacation rental on platforms including Airbnb and Vrbo, providing a strong, established, source of supplemental income for the owner.

8 Thomas Street | MLS# 1651300

This multi-family property located at 8 Thomas Street, Madison, ME 04950 is currently listed for sale with an asking price of $380,000. Thomas Street is located within the RSU 59-MSAD 59 school district. Search Madison real estate on www.masiellogrouprealestate.com today.

Property Features

Property Type: Multi Unit - Multiple
Basement: Interior Entry
Cooling: Window Unit(s)
Heating: Direct Vent Heater, Hot Water
Lot Size: 0.50 Acres
Roof Type: Metal
Taxes: $1,103
Year Built: 1900

Feature Descriptions

Appliances: Tankless Water Heater
Electric: Circuit Breakers
Flooring: Laminate, Tile, Vinyl
Sewer: Public Sewer
SQ FT Above Grade: 2012
SQ FT Below Grade: 0
Water: Public

Local Schools

School District: RSU 59-MSAD 59

Listed By / Shown By

Listed By

Agency Name: The Maine Real Estate Experience
Agency Phone: 207-345-2207
Agent Name: Paulette Dickinson

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Estimated Payment

$ 1,048.47 per month $845.72 Principal & Interest $91.92 Property Tax $110.83 Homeowner's Insurance

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