Residential Income
For Sale
$193,000
49 Mill Street, Dexter, ME 04930
MULTI_FAMILY - Other - Dexter, ME
Property Size2,048 SF
Lot Size0.17 Acres
Price / SF$94.24
Days on Market28
Property Features for 49 Mill Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Basement
Full, Unfinished
Lot features
Open, Intown
Standard status
Active
Size
2,048 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1935
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Other (Heating), Electric (Heating), Hot Water(Heating), Oil
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Wood, Laminate, Vinyl
Building materials
Wood Frame, Clapboard
Roof type
Metal
Architectural style
Other
Listing Agency:
CENTURY 21 Queen City Real Estate · Century 21 Real Estate
(207) 942-4618
Listed By:
Kristin Giroux · License #BA927767
(207) 479-8003
Added: Jul 16
Changed: Aug 2
Last Checked: Aug 12 at 11:06AM
MLS# 1648870
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 residential income duplex offers a total of 2,048 square feet and sits on a 0.17-acre lot. The property is identified under residential income and multifamily use categories, and it is zoned RES.
The duplex is located at 49 Mill Street in Dexter, Maine 04930, in Penobscot County.
For buyers looking for a small, zoned residential income asset, this duplex presents an opportunity to acquire a straightforward two-unit configuration on a compact lot.
The duplex is located at 49 Mill Street in Dexter, Maine 04930, in Penobscot County.
For buyers looking for a small, zoned residential income asset, this duplex presents an opportunity to acquire a straightforward two-unit configuration on a compact lot.
Key Highlights
- Built in 1920
- Wood frame construction with clapboard exterior
- Metal roof
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
$17,262
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
8.94%
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%
$345,240
$345.2K
Cap Rate 7%
$246,600
$246.6K
Cap Rate 9%
$191,800
$191.8K
Market Conditions
NOI Build-Up for 2,048 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
$33.2K $16.20/SF
− Vacancy
−$1.8K −$0.87/SF
EGI
$31.4K $15.33/SF
− OpEx
−$14.1K −$6.90/SF
NOI
$17.3K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$345,240
Cap Rate 7%
$246,600
Cap Rate 9%
$191,800
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,769 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,262 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$661.4K
$578.8K – $771.7K
NOI $46,301 @ 7.0% cap · market cap 23.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 04930, ME
4,287
Population
2,463
Households
1.7
Avg Household Size
48
Median Age
17%
College-Educated
92%
High-School Grad
60.3 sq mi
ZIP Area
71
Density / Sq Mi
$53,537
Median Household Income
$38,085
Median Earnings
$891
Median Rent
$159,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property zoned RES in Dexter with a 0.17-acre lot and 2,048 square feet.
Where is this duplex located?
The property is located at 49 Mill Street Dexter, ME.
What is the asking price?
The asking price for this property is $193,000.
What are key features of this property?
This property features: Built in 1920; Wood frame construction with clapboard exterior; Metal roof
