Duplex on Three Acres with Walk-Out
For Sale
$459,000
590 Newfield Road, Shapleigh, ME 04076
MULTI_FAMILY - Ranch - Shapleigh, ME
Property Size1,453 SF
Lot Size3.00 Acres
Price / SF$315.90
Days on Market37
Property Features for 590 Newfield Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
General Purpose
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3
Basement
Walk-Out Access, Daylight, Full
Lot features
Open, Level, Wooded, Rural
Standard status
Active
Size
1,453 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2111
Utilities
Sewer type
Private Sewer
Heating system
Forced Air, Wood, Oil, Propane (Heating)
Water source
Private
Water front
1
Building Details
Year built
1990
Number of units
2
Flooring type
Carpet, Concrete, Laminate
Building materials
Wood Frame, Metal Clad
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Christopher Foster
(207) 712-5674
Added: Jul 7
Changed: Aug 1
Last Checked: Aug 12 at 8:06AM
MLS# 1651724
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.
Ranch-style duplex situated on a full foundation, built in 1990, set on three acres. The main level features three bedrooms, two full bathrooms, and open-concept living spaces. A full walk-out basement includes its own private entrance, a full bath, and several finished rooms that can support additional living space, an office, or storage.
The home is constructed with wood frame and metal-clad exterior materials and is roofed with metal. Interior flooring includes carpet, concrete, and laminate. Heating is provided by forced air plus wood, oil, and propane (heating) sources. Water is from a private source and the property uses private sewer.
Zoning is General Purpose, and the site includes open acreage that previously housed horses. The outdoor setting offers space for relaxation, with a described stream and potential for a small sitting area nearby.
The home is constructed with wood frame and metal-clad exterior materials and is roofed with metal. Interior flooring includes carpet, concrete, and laminate. Heating is provided by forced air plus wood, oil, and propane (heating) sources. Water is from a private source and the property uses private sewer.
Zoning is General Purpose, and the site includes open acreage that previously housed horses. The outdoor setting offers space for relaxation, with a described stream and potential for a small sitting area nearby.
Key Highlights
- Ranch duplex on a full foundation built in 1990
- Three acres of land with an outdoor setting described with a stream
- Main level: three bedrooms and two full bathrooms with open‑concept living
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
$24,597
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
5.36%
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%
$491,940
$491.9K
Cap Rate 7%
$351,386
$351.4K
Cap Rate 9%
$273,300
$273.3K
Market Conditions
NOI Build-Up for 1,453 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
$37.0K $25.44/SF
− Vacancy
−$1.8K −$1.26/SF
EGI
$35.1K $24.18/SF
− OpEx
−$10.5K −$7.25/SF
NOI
$24.6K $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%
$491,940
Cap Rate 7%
$351,386
Cap Rate 9%
$273,300
Alternative Uses
Best Use
Multifamily LT 5
$351.4K
$307.5K – $410.0K
NOI $24,597 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$320.8K
$280.7K – $374.3K
NOI $22,455 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$460.6K
$403.0K – $537.4K
NOI $32,242 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 04076, ME
2,927
Population
2,027
Households
1.4
Avg Household Size
47
Median Age
25%
College-Educated
95%
High-School Grad
38.7 sq mi
ZIP Area
76
Density / Sq Mi
$87,560
Median Household Income
$44,531
Median Earnings
$1,284
Median Rent
$324,100
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 duplex on three acres in General Purpose zoning, with a walk-out basement offering a private entrance and additional finished rooms.
Where is this duplex located?
The property is located at 590 Newfield Road Shapleigh, ME.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Ranch duplex on a full foundation built in 1990; Three acres of land with an outdoor setting described with a stream; Main level: three bedrooms and two full bathrooms with open‑concept living
