Stone Duplex with In-Law
For Sale
$820,000
16 Davis Point Road, Wayne, ME 04284
Multi-Family, Wayne, ME
Property Size6,649 SF
Lot Size7.51 Acres
Price / SF$123.33
Days on Market64
Property Features for 16 Davis Point Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Residential
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Basement
Parking features
Heated
Patio and Porch features
Patio
Interior features
Other Amenities, Walk-in Closets, In-Law Apartment, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Bathtub, Pantry, Shower, Storage, Primary Bedroom w/Bath
Exterior features
Animal Containment System
Fencing
Fenced
Basement
Partial, Walk-Out Access, Unfinished
Lot features
Other Location, Well Landscaped, Open, Wooded, Near Town, Rural
Standard status
Active
Size
6,649 SF
Lot size
7.51 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12263
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Zoned, Heat Pump (Heating), Wood, Oil, Radiant, Electric (Heating)
Cooling system
Heat Pump
Water source
Private, Well
Water front features
Lake
Water front
1
Amenities
fireplace
library
in-law suite
barn
stone patio
pergola
gardens
generator
Building Details
Year built
1977
Number of units
2
Flooring type
Tile, Wood
Building materials
Stone, Wood Frame, Wood Siding, Other Exterior
Roof type
Shingle
Architectural style
Ranch, Contemporary
Additional Structures
Outbuilding, Storage, Other
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group · ERA Real Estate
(207) 623-4182
Listed By:
Taylor Tarbox
(207) 446-4896
Added: Jul 7
Changed: Sep 2
Last Checked: Sep 8 at 4:06PM
MLS# 1667976
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 stone duplex property at 16 Davis Point Road includes a primary residence and a separate apartment above the attached heated three-car garage. The apartment has two bedrooms, a full bathroom, kitchen, and expansive living area. The main residence features a chef’s kitchen with granite countertops, high-end appliances, walk-in pantry, formal dining room, great room, library, and refinished hardwood floors. The primary bedroom suite includes twin bathrooms, a dressing room, fireplace, and patio access.
The property encompasses 7.51 acres with lake frontage, multiple stone patios, a grape-covered pergola, fruit trees, stone gardens, raised beds, and a barn with power and water. Heating includes radiant, oil, wood, zoned, and heat-pump systems, with heat-pump cooling. A diesel on-demand generator provides backup power. Built in 1977, the property uses a private well and septic system and includes fenced areas, heated parking, and shingle roofing.
The property encompasses 7.51 acres with lake frontage, multiple stone patios, a grape-covered pergola, fruit trees, stone gardens, raised beds, and a barn with power and water. Heating includes radiant, oil, wood, zoned, and heat-pump systems, with heat-pump cooling. A diesel on-demand generator provides backup power. Built in 1977, the property uses a private well and septic system and includes fenced areas, heated parking, and shingle roofing.
Key Highlights
- 7.51‑acre property with lake frontage in Wayne, ME
- 6,649‑square‑foot duplex property built in 1977
- Separate apartment above the attached heated three‑car garage
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
$74,254
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
9.06%
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%
$1,485,080
$1.5M
Cap Rate 7%
$1,060,771
$1.1M
Cap Rate 9%
$825,044
$825.0K
Market Conditions
NOI Build-Up for 6,649 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
$107.7K $16.20/SF
− Vacancy
−$1.6K −$0.25/SF
EGI
$106.1K $15.95/SF
− OpEx
−$31.8K −$4.79/SF
NOI
$74.3K $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%
$1,485,080
Cap Rate 7%
$1,060,771
Cap Rate 9%
$825,044
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.2K – $1.24M
NOI $74,254 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$925.3K
$809.7K – $1.08M
NOI $64,772 @ 7.0% cap · market cap 7.90%
Theoretical Best
Warehouse
$9.92M
$8.68M – $11.57M
NOI $694,376 @ 7.0% cap · market cap 84.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 04284, ME
1,113
Population
841
Households
1.3
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.4 sq mi
ZIP Area
60
Density / Sq Mi
$75,987
Median Household Income
$50,114
Median Earnings
$889
Median Rent
$327,900
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 - Ranch-style property with a separate guest apartment, extensive storage, outdoor patios, and lake frontage.
Where is this duplex located?
The property is located at 16 Davis Point Road Wayne, ME.
What is the asking price?
The asking price for this property is $820,000.
What are key features of this property?
This property features: 7.51‑acre property with lake frontage in Wayne, ME; 6,649‑square‑foot duplex property built in 1977; Separate apartment above the attached heated three‑car garage
