Triplex with River
1597 Sanford Road Wells, ME 04090
1597 Sanford Road, Wells, ME, 04090
$679,000
For Sale
$679,000
MULTI_FAMILY - Ranch - Wells, ME
Property Size3,769 SF
Lot Size1.99 Acres
Price / SF$180.15
Days on Market11
Property Features for 1597 Sanford Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- RA
- Bathrooms
- 5
- Rooms
- Bathroom 4, Bathroom 1, Bathroom 5, Bathroom 2, Bathroom 3
- Patio and Porch features
- Deck
- Interior features
- 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, One-Floor Living, Storage
- Basement
- Crawl Space
- Standard status
- Active
- Size
- 3,769 SF
- Lot size
- 1.99 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2600
Utilities
- Sewer type
- Septic Tank, Private Sewer
- Heating system
- Kerosene, Forced Air, Oil, Heat Pump (Heating), Electric (Heating)
- Water source
- Well, Private
- Water front
- 1
Building Details
- Year built
- 1972
- Number of units
- 3
- Flooring type
- Vinyl, Laminate, Concrete
- Building materials
- Mobile, Wood Frame, Aluminum Siding, Block, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Ranch
- Additional Structures
- Storage
Listing Agency
Coldwell Banker Realty
(207) 967-9900
11 Main St Ste 4, Saco, ME
Listed by
Jason Clark
(207) 608-5927
Added: Jul 11 Checked: Jul 21 at 6:06 am
MLS# 1664129
Listing URL
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 waterfront triplex-style property offers three separate homes on one lot at 1597 Sanford Road in Wells, Maine. The back unit is a single-wide that is currently rented and includes a storage shed, along with views of the forest and Merriland River. Also on site is a 4-bedroom double-wide that will be completely renovated by closing, plus a 2-bedroom home that is ready for finishing touches. The 4-bedroom home includes a spacious yard and a deck overlooking the river, and there is a connected garage for added convenience.
The front home has been updated with new wiring and plumbing. The property is zoned RA and is situated on approximately 1.99 acres.
The current configuration supports straightforward rental use with multiple dwellings on a single parcel, while also allowing flexibility if you choose to occupy one of the units.
The front home has been updated with new wiring and plumbing. The property is zoned RA and is situated on approximately 1.99 acres.
The current configuration supports straightforward rental use with multiple dwellings on a single parcel, while also allowing flexibility if you choose to occupy one of the units.
Key Highlights
- Three homes on one lot with Merriland River frontage, including a single‑wide currently rented, a 4‑bedroom double‑wide, and a 2‑bedroom home
- 4‑bedroom double‑wide will be completely renovated by closing, and the 2‑bedroom home is ready for finishing touches
- Deck and connected garage add outdoor space and extra storage for the river‑front property
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.7k | $29.64 |
| − Vacancy | −$5.8k | −$1.54 |
| EGI | $105.9k | $28.10 |
| − OpEx | −$47.7k | −$12.64 |
| NOI | $58.2k | $15.45 |
3,769 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$911.5K
$797.5K – $1.06M
NOI $63,803 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$832.1K
$728.1K – $970.8K
NOI $58,247 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,633 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three homes on one lot, including one rented single-wide and two additional units with river views.
Where is this triplex located?
The property is located at 1597 Sanford Road Wells, ME.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Three homes on one lot with Merriland River frontage, including a single‑wide currently rented, a 4‑bedroom double‑wide, and a 2‑bedroom home; 4‑bedroom double‑wide will be completely renovated by closing, and the 2‑bedroom home is ready for finishing touches; Deck and connected garage add outdoor space and extra storage for the river‑front property
