Maintained Triplex with Solar
For Sale
$1,200,000
419 Falmouth Road, Falmouth, ME 04105
Multi-Family, Falmouth, ME
Property Size5,357 SF
Lot Size0.45 Acres
Price / SF$224.01
Days on Market10
Property Features for 419 Falmouth Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VMU
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 2, Basement, Bathroom 3
Parking features
Assigned, Underground/Basement
Patio and Porch features
Porch
Interior features
1st Floor Primary Bedroom w/Bath, Storage
Basement
Partial, Unfinished
Lot features
Well Landscaped, Open, Level, Near Shopping, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
5,357 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8701
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Natural Gas, Hot Water(Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
brick fireplace
heat pumps
in-unit washer/dryer
solar panels
detached shed
covered front porch
two-car garage
Building Details
Year built
1900
Number of units
3
Flooring type
Carpet, Softwood, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Composition, Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
RE/MAX By The Bay · RE/MAX International
(207) 773-2345
Listed By:
David Banks · License #204562
(207) 831-8033
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 10 at 11:06PM
MLS# 1678620
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 5,357-square-foot triplex on 0.45 acres was built in 1900 and has operated as a three-unit rental property since 1992. The first-floor residence includes three bedrooms, two full bathrooms, a primary suite with private bath, a living room with brick fireplace, basement access, and a two-car garage. The other two residences are arranged over two levels, each with two bedrooms and a mix of full and half bathrooms. One includes a vaulted family room and heat pumps, while the other separates its living and sleeping areas across the main and upper floors.
All three units share a covered front porch and have individual washers and dryers. Two paved driveways provide off-street parking, while a detached shed and basement offer additional storage. The property also includes solar panels, public water, public sewer, wood-frame construction with vinyl siding, and VMU zoning. Located at 419 Falmouth Road in Falmouth, Maine, the building combines established rental use with varied unit layouts and practical owner-occupancy features.
All three units share a covered front porch and have individual washers and dryers. Two paved driveways provide off-street parking, while a detached shed and basement offer additional storage. The property also includes solar panels, public water, public sewer, wood-frame construction with vinyl siding, and VMU zoning. Located at 419 Falmouth Road in Falmouth, Maine, the building combines established rental use with varied unit layouts and practical owner-occupancy features.
Key Highlights
- 5,357‑square‑foot triplex on 0.45 acres
- Three‑unit rental property operated continuously since 1992
- First‑floor unit includes 3 bedrooms, 2 full bathrooms, a primary suite, basement access, and a two‑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
$94,666
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
7.89%
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%
$1,893,320
$1.9M
Cap Rate 7%
$1,352,371
$1.4M
Cap Rate 9%
$1,051,844
$1.1M
Market Conditions
NOI Build-Up for 5,357 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
$144.6K $27.00/SF
− Vacancy
−$9.4K −$1.76/SF
EGI
$135.2K $25.25/SF
− OpEx
−$40.6K −$7.57/SF
NOI
$94.7K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,893,320
Cap Rate 7%
$1,352,371
Cap Rate 9%
$1,051,844
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,666 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,072 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,066 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 04105, ME
12,406
Population
5,332
Households
2.3
Avg Household Size
48
Median Age
70%
College-Educated
98%
High-School Grad
29.3 sq mi
ZIP Area
423
Density / Sq Mi
$131,833
Median Household Income
$69,303
Median Earnings
$2,070
Median Rent
$669,500
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately arranged residences offer substantial storage, individual laundry, and extensive paved off-street parking.
Where is this triplex located?
The property is located at 419 Falmouth Road Falmouth, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,357‑square‑foot triplex on 0.45 acres; Three‑unit rental property operated continuously since 1992; First‑floor unit includes 3 bedrooms, 2 full bathrooms, a primary suite, basement access, and a two‑car garage
