Duplex with Detached
For Sale
$499,900
7 Preston Way, Cumberland, ME 04021
Multi-Family, Cumberland, ME
Property Size1,597 SF
Lot Size0.40 Acres
Price / SF$313.02
Days on Market44
Property Features for 7 Preston Way
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
VOC1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Interior features
1st Floor Bedroom, Storage
Basement
Unfinished, Walk-Out Access
Lot features
Level, Near Town
Standard status
Active
Size
1,597 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5948
Utilities
Sewer type
Shared Septic, Private Sewer
Heating system
Forced Air, Kerosene, Baseboard, Oil
Water source
Private, Well
Building Details
Year built
1930
Number of units
2
Flooring type
Composition, Carpet, Wood, Vinyl, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Ranch, Cape Cod
Additional Structures
Storage
Listing Agency:
Allied Real Estate · RE/MAX International
(207) 892-2214
Listed By:
Tammy Laliberty
(207) 400-9549
Added: Jul 19
Changed: Aug 19
Last Checked: Aug 31 at 11:06AM
MLS# 1656242
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 1930 duplex property includes two freestanding homes on a 0.4-acre lot in Cumberland. The residences include Cape Cod and ranch-style elements, with wood-frame construction, vinyl siding, basements, and a mix of forced-air, baseboard, kerosene, and oil heating. Each home includes appliances, while the front Cape is currently vacant.
A detached garage provides storage above, and a separate large storage shed adds additional utility. The property also has a whole-house generator serving both residences. New shingles have been installed on both homes and the garage, and the property includes a new septic system. Water is supplied by a private well, with shared septic and private sewer features identified. The property is zoned VOC1 and contains 1,597 square feet.
A detached garage provides storage above, and a separate large storage shed adds additional utility. The property also has a whole-house generator serving both residences. New shingles have been installed on both homes and the garage, and the property includes a new septic system. Water is supplied by a private well, with shared septic and private sewer features identified. The property is zoned VOC1 and contains 1,597 square feet.
Key Highlights
- Two freestanding homes on a 0.4‑acre lot
- Detached garage with storage above
- Whole‑house generator serves both residences
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
$28,221
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
5.65%
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%
$564,420
$564.4K
Cap Rate 7%
$403,157
$403.2K
Cap Rate 9%
$313,567
$313.6K
Market Conditions
NOI Build-Up for 1,597 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
$43.1K $27.00/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$40.3K $25.25/SF
− OpEx
−$12.1K −$7.57/SF
NOI
$28.2K $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%
$564,420
Cap Rate 7%
$403,157
Cap Rate 9%
$313,567
Alternative Uses
Best Use
Multifamily LT 5
$403.2K
$352.8K – $470.4K
NOI $28,221 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$375.1K
$328.2K – $437.6K
NOI $26,256 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$438.9K
$384.1K – $512.1K
NOI $30,726 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 04021, ME
6,729
Population
2,428
Households
2.8
Avg Household Size
42
Median Age
70%
College-Educated
99%
High-School Grad
20.5 sq mi
ZIP Area
328
Density / Sq Mi
$145,833
Median Household Income
$70,304
Median Earnings
$506,800
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 - Two freestanding residences share a lot with a detached garage, storage space, appliances, and a whole-house generator.
Where is this duplex located?
The property is located at 7 Preston Way Cumberland, ME.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two freestanding homes on a 0.4‑acre lot; Detached garage with storage above; Whole‑house generator serves both residences
