Two-Unit Ranch
For Sale
$359,000
1015 Watson Pond Road, Rome, ME 04963
Multi-Family, Rome, ME
Property Size1,945 SF
Lot Size2.50 Acres
Price / SF$184.58
Days on Market44
Property Features for 1015 Watson Pond Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Rural
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Patio and Porch features
Deck
Pets allowed
No
Interior features
1st Floor Bedroom, Bathtub, Shower
Basement
Sump Pump, Full, Unfinished
Accessibility
Accessible Approach with Ramp
Lot features
Well Landscaped, Open, Level, Wooded, Near Golf Course, Near Public Beach, Near Town, Rural
Standard status
Active
Size
1,945 SF
Lot size
2.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1777
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Baseboard, Propane (Heating), Hot Water(Heating), Oil, Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Well
Building Details
Year built
1962
Floors in Building
1
Number of units
2
Flooring type
Carpet, Wood
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Portside Real Estate Group
(207) 495-3700
Listed By:
Linda Schultz
(207) 215-9805
Added: Jul 20
Changed: Aug 27
Last Checked: Aug 31 at 11:06PM
MLS# 1672537
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,945-square-foot ranch-style duplex sits on 2.5 acres and includes two distinct residential units. The first offers three bedrooms, two full bathrooms, and a deck, along with an accessible approach ramp. The second contains two bedrooms, one full bathroom, and an open kitchen-and-living area. Wood-frame construction, wood siding, wood and carpet flooring, and a shingle roof define the property. Built in 1962, the building is served by a well and private septic system and is designated Rural zoning.
The property is near the Long Pond public boat launch and Belgrade’s public beach, with access to boating, fishing, golf, restaurants, and markets. Augusta is approximately 20 minutes away, according to the provided property information.
The property is near the Long Pond public boat launch and Belgrade’s public beach, with access to boating, fishing, golf, restaurants, and markets. Augusta is approximately 20 minutes away, according to the provided property information.
Key Highlights
- 1,945‑square‑foot duplex on 2.5 acres
- Unit 1 has 3 bedrooms, 2 full bathrooms, a deck, and an accessible approach ramp
- Unit 2 includes 2 bedrooms, 1 full bathroom, and an open kitchen‑and‑living area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,721
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,420
$434.4K
Cap Rate 7%
$310,300
$310.3K
Cap Rate 9%
$241,344
$241.3K
Market Conditions
NOI Build-Up for 1,945 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.5K $16.20/SF
− Vacancy
−$479 −$0.25/SF
EGI
$31.0K $15.95/SF
− OpEx
−$9.3K −$4.79/SF
NOI
$21.7K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,420
Cap Rate 7%
$310,300
Cap Rate 9%
$241,344
Alternative Uses
Best Use
Multifamily LT 5
$310.3K
$271.5K – $362.0K
NOI $21,721 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$270.7K
$236.8K – $315.8K
NOI $18,947 @ 7.0% cap · market cap 5.28%
Theoretical Best
Warehouse
$2.90M
$2.54M – $3.39M
NOI $203,123 @ 7.0% cap · market cap 56.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Rural two-unit property with separate living arrangements, outdoor space, and accessibility features near regional recreation.
Where is this duplex located?
The property is located at 1015 Watson Pond Road Rome, ME.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1,945‑square‑foot duplex on 2.5 acres; Unit 1 has 3 bedrooms, 2 full bathrooms, a deck, and an accessible approach ramp; Unit 2 includes 2 bedrooms, 1 full bathroom, and an open kitchen‑and‑living area
