Two-Unit Duplex With Separate
For Sale
$289,900
22 Thompson Street, Sanford, ME 04073
Multi-Family, Sanford, ME
Property Size1,296 SF
Lot Size0.08 Acres
Price / SF$223.69
Days on Market58
Property Features for 22 Thompson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
U
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Interior features
1st Floor Bedroom
Basement
Unfinished, Full
Lot features
Open, Sidewalks, Intown, Neighborhood
Standard status
Active
Size
1,296 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2868
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Oil, Forced Air, Kerosene, Baseboard
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Century 21 North East · Century 21 Real Estate
(800) 844-7653
Listed By:
Brian Samia Gary Samia
(207) 200-1388
Added: Jul 15
Changed: Sep 3
Last Checked: Sep 10 at 5:06AM
MLS# 1661027
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 1,296-square-foot duplex contains two one-bedroom units, each arranged with a living room, kitchen, full bathroom, and bedroom. Separate electricity, heating, and hot water systems serve the units individually. The property was built in 1920 and includes wood-frame construction with vinyl siding, carpet and vinyl flooring, and a shingle roof.
A full basement provides laundry hookups and additional functional space. The 0.08-acre parcel includes paved off-street parking and recently installed hardscaping. Public water and public sewer serve the property, which carries U zoning. Interior features include a first-floor bedroom, with forced-air, electric, baseboard, oil, and kerosene heating noted among the property systems.
A full basement provides laundry hookups and additional functional space. The 0.08-acre parcel includes paved off-street parking and recently installed hardscaping. Public water and public sewer serve the property, which carries U zoning. Interior features include a first-floor bedroom, with forced-air, electric, baseboard, oil, and kerosene heating noted among the property systems.
Key Highlights
- Two one‑bedroom units within a 1,296‑square‑foot duplex
- Separate electricity, heating, and hot water systems for each unit
- Full basement with laundry hookups
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
$21,939
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
7.57%
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%
$438,780
$438.8K
Cap Rate 7%
$313,414
$313.4K
Cap Rate 9%
$243,767
$243.8K
Market Conditions
NOI Build-Up for 1,296 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
$33.0K $25.44/SF
− Vacancy
−$1.6K −$1.26/SF
EGI
$31.3K $24.18/SF
− OpEx
−$9.4K −$7.25/SF
NOI
$21.9K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$438,780
Cap Rate 7%
$313,414
Cap Rate 9%
$243,767
Alternative Uses
Best Use
Multifamily LT 5
$313.4K
$274.2K – $365.7K
NOI $21,939 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,029 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,758 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Both units include one bedroom, a kitchen, living room, and full bath.
Where is this duplex located?
The property is located at 22 Thompson Street Sanford, ME.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two one‑bedroom units within a 1,296‑square‑foot duplex; Separate electricity, heating, and hot water systems for each unit; Full basement with laundry hookups
