Building Details

Year built 2010

Listing Agency: Bangor, Maine · Better Homes and Gardens Real Estate i***@Masiello.com Show Phone

Listed By: Venise Bard Show Phone

Added: Mar 19 Changed: Aug 24 Last Checked: Aug 26 at 11:06AM

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MLS# 1654715

Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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.

Located at 445-447 Pine Tree Road, this multifamily property includes two ranch-style duplexes on separate lots with a combined 4,200 square feet across 3.67 acres. The four units are fully occupied, with each building containing one two-bedroom residence and one three-bedroom residence. The property can be acquired together or as separate buildings.

Each residence includes an open kitchen, dining, and living arrangement, radiant heat, spacious bedrooms, and large closets. Tiled bathrooms provide tub-and-shower combinations, while washer/dryer hookups support in-unit laundry installation. Every unit has an assigned storage shed. The buildings operate with a shared well and private septic systems; the septic design for 445 Pine Tree Road supports a 4BR capacity.

Key Highlights

• Two duplexes across two lots at 445‑447 Pine Tree Road
• 4,200 square feet on 3.67 acres
• Four fully occupied units with one 2 BR and one 3 BR unit per duplex

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

$38,491

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

5.54%

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%

$769,820 $769.8K

Cap Rate 7%

$549,871 $549.9K

Cap Rate 9%

$427,678 $427.7K

Market Conditions

NOI Build-Up for 4,200 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

$58.0K $13.80/SF

− Vacancy

−$3.0K −$0.71/SF

EGI

$55.0K $13.09/SF

− OpEx

−$16.5K −$3.93/SF

NOI

$38.5K $9.16/SF

Area

Penobscot County, ME

Vacancy

5.13%

Lease Rate

$13.80 /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%

$769,820

Cap Rate 7%

$549,871

Cap Rate 9%

$427,678

Alternative Uses

Best Use

Multifamily LT 5

$549.9K

$481.1K – $641.5K (±1% cap)

NOI $38,491 @ 7.0% cap · market cap 5.54%

Second Best

Apartment 5plus

$505.7K

$442.5K – $590.0K (±1% cap)

NOI $35,401 @ 7.0% cap · market cap 5.09%

Theoretical Best

Office A

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $94,954 @ 7.0% cap · market cap 13.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Building Supply Garden Center Pet Grooming Service Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 04456, ME

2,940

Population

1,299

Households

2.3

Avg Household Size

39

Median Age

19%

College-Educated

95%

High-School Grad

30.1 sq mi

ZIP Area

98

Density / Sq Mi

$75,917

Median Household Income

$41,689

Median Earnings

$1,240

Median Rent

$244,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Fully occupied ranch-style units feature open-concept living areas, radiant heat, storage sheds, and washer/dryer hookups.

Where is this duplex located?

The property is located at 445-447 Pine Tree Road Levant, ME.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: Two duplexes across two lots at 445‑447 Pine Tree Road; 4,200 square feet on 3.67 acres; Four fully occupied units with one 2 BR and one 3 BR unit per duplex