Two-Unit Residential Income
7 Garfield Street Saco, ME 04072
For Sale
$599,999
MULTI_FAMILY - Other - Saco, ME
Property Size2,314 SF
Lot Size0.75 Acres
Price / SF$259.29
Days on Market10
Property Features for 7 Garfield Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Basement
Parking features
Off Street
Patio and Porch features
Porch, Deck
Interior features
Other Amenities, 1st Floor Bedroom, Bathtub, Shower, Storage, Primary Bedroom w/Bath
Basement
Unfinished, Full
Standard status
Active
Size
2,314 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5552
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating), Baseboard, Natural Gas, Propane (Heating), Zoned
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Carpet, Wood, Vinyl
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Other, Storage
Listing Agency:
Maine Real Estate Co
(207) 292-1030
Listed By:
Bailey Pate · License #DB927429
(207) 229-5449
Added: Jul 20
Changed: Jul 28
Last Checked: Jul 29 at 6:06AM
MLS# 1660328
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 two-unit residential income property is offered for sale in Saco and includes Unit 1 and Unit 2 plus a full basement for major systems. Unit 1 is approximately 1,800 square feet and features a 3 to 4 bedroom layout with 2 full bathrooms, with first-floor living and additional space upstairs. Unit 2 is approximately 600 square feet and was fully renovated within the past year, including a new kitchen, bathroom, flooring, and in-unit washer and dryer; it is currently vacant.
The property sits on a 0.75-acre lot and includes a paved driveway and ample parking. The listing also notes zoning R-2 and that the property allows up to 6 total units, with prior engineering and planning board approval in 2022 supporting additional development potential; the buyer is instructed to verify current status with the town, and approval expired 2/18/24.
The asset is being marketed as a two-unit setup with immediate income from the currently occupied Unit 1 and flexibility from the vacant renovated unit, while the zoning and prior approvals may support future expansion subject to verification with the town.
The property sits on a 0.75-acre lot and includes a paved driveway and ample parking. The listing also notes zoning R-2 and that the property allows up to 6 total units, with prior engineering and planning board approval in 2022 supporting additional development potential; the buyer is instructed to verify current status with the town, and approval expired 2/18/24.
The asset is being marketed as a two-unit setup with immediate income from the currently occupied Unit 1 and flexibility from the vacant renovated unit, while the zoning and prior approvals may support future expansion subject to verification with the town.
Key Highlights
- Two‑unit property on a 0.75‑acre lot in Saco; built in 1925 with public water and public sewer
- Unit 1: approx. 1,800 SF with 3–4 bedrooms and 2 full baths, occupied by a long‑term tenant paying $2,200/month
- Unit 2: approx. 600 SF fully renovated within the past year (new kitchen, bathroom, flooring, and in‑unit washer/dryer); currently vacant
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.9k | $25.44 |
| − Vacancy | −$2.9k | −$1.26 |
| EGI | $56.0k | $24.18 |
| − OpEx | −$16.8k | −$7.25 |
| NOI | $39.2k | $16.93 |
2,314 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$559.6K
$489.7K – $652.9K
NOI $39,172 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$510.9K
$447.0K – $596.0K
NOI $35,761 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$733.5K
$641.8K – $855.8K
NOI $51,347 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit multifamily with a full basement, paved driveway, and ample parking on a 0.75-acre lot.
Where is this duplex located?
The property is located at 7 Garfield Street Saco, ME.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Two‑unit property on a 0.75‑acre lot in Saco; built in 1925 with public water and public sewer; Unit 1: approx. 1,800 SF with 3–4 bedrooms and 2 full baths, occupied by a long‑term tenant paying $2,200/month; Unit 2: approx. 600 SF fully renovated within the past year (new kitchen, bathroom, flooring, and in‑unit washer/dryer); currently vacant
