Historic Duplex with In-Law
For Sale
$1,325,000
88 York Street, York, ME 03909
Multi-Family, York, ME
Property Size3,001 SF
Lot Size0.32 Acres
Price / SF$441.52
Days on Market62
Property Features for 88 York Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES 1B
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Basement, Bathroom 2
Parking features
Heated, Off Street
Patio and Porch features
Porch, Patio
Interior features
In-Law Apartment, Storage
Fencing
Fenced
Basement
Unfinished
Lot features
Near Country Club, Well Landscaped, Corner Lot, Sidewalks, Intown, Near Golf Course, Near Public Beach, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
3,001 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6870
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil, Forced Air, Electric (Heating), Propane (Heating)
Cooling system
Central Air
Water source
Public
Water front features
Ocean Front
Water front
1
Amenities
wraparound porch
woodstove
pocket doors
fenced-in yard
custom paver patio
stone walls
fire pit area
Reeds Ferry shed
central air
heated garage
Jotul gas stove
kitchenette
clawfoot tub
Building Details
Year built
1880
Number of units
2
Flooring type
Marble, Wood, Hardwood, Carpet, Tile, Vinyl
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Anne Erwin Sotheby's International Realty
(207) 363-6640
Listed By:
Anne Erwin Real Estate
(207) 363-6640
Added: Jul 2
Changed: Aug 19
Last Checked: Sep 1 at 5:06PM
MLS# 1670005
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 3,001-square-foot duplex property combines an 1880-built primary residence with a separate two-bedroom, one-bath apartment. The main home offers three bedrooms and four baths across multiple levels, with hardwood flooring, period trim, built-in cabinetry, pocket doors, a woodstove, and a formal dining room. The upper-level family room includes a kitchenette, office area, and full bath. A newly updated heating system provides central air, while the heated attached two-car garage adds storage and an additional bath.
Outdoor improvements include a wraparound porch, custom paver patio, fenced yard, stone walls, landscaped grounds, fire pit area, shed, and stone-paver driveway. The property also includes public water and public sewer, RES 1B zoning, and a 0.32-acre lot. Its York Village setting is within walking distance of schools, a hospital, library, golf, beaches, restaurants, and shops.
Outdoor improvements include a wraparound porch, custom paver patio, fenced yard, stone walls, landscaped grounds, fire pit area, shed, and stone-paver driveway. The property also includes public water and public sewer, RES 1B zoning, and a 0.32-acre lot. Its York Village setting is within walking distance of schools, a hospital, library, golf, beaches, restaurants, and shops.
Key Highlights
- 3,001‑square‑foot duplex with a 3‑bedroom, 4‑bath main residence and a 2‑bedroom, 1‑bath apartment
- Built in 1880 with wood‑frame construction, wood siding, period trim, and hardwood flooring
- Heated attached 2‑car garage with storage and an additional bath
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
$50,802
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
3.83%
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%
$1,016,040
$1.0M
Cap Rate 7%
$725,743
$725.7K
Cap Rate 9%
$564,467
$564.5K
Market Conditions
NOI Build-Up for 3,001 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
$76.3K $25.44/SF
− Vacancy
−$3.8K −$1.26/SF
EGI
$72.6K $24.18/SF
− OpEx
−$21.8K −$7.25/SF
NOI
$50.8K $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%
$1,016,040
Cap Rate 7%
$725,743
Cap Rate 9%
$564,467
Alternative Uses
Best Use
Multifamily LT 5
$725.7K
$635.0K – $846.7K
NOI $50,802 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$662.5K
$579.7K – $773.0K
NOI $46,378 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$951.3K
$832.4K – $1.11M
NOI $66,591 @ 7.0% cap · market cap 5.03%
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
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 03909, ME
10,938
Population
7,101
Households
1.5
Avg Household Size
53
Median Age
50%
College-Educated
98%
High-School Grad
35.2 sq mi
ZIP Area
311
Density / Sq Mi
$108,889
Median Household Income
$55,540
Median Earnings
$1,438
Median Rent
$589,400
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 - 1880 residence with a separate two-bedroom apartment, central air, heated garage, and landscaped outdoor areas.
Where is this duplex located?
The property is located at 88 York Street York, ME.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 3,001‑square‑foot duplex with a 3‑bedroom, 4‑bath main residence and a 2‑bedroom, 1‑bath apartment; Built in 1880 with wood‑frame construction, wood siding, period trim, and hardwood flooring; Heated attached 2‑car garage with storage and an additional bath
