Duplex with Two-Car
For Sale
$450,000
10-12 Maple Street, Biddeford, ME 04005
R2-zoned property with separately metered utilities and two distinct residential units.
Property Size2,644 SF
Price / SF$170.20
Days on Market194
Property Features for 10-12 Maple Street
General Information
Standard status
Active
Size
2,644 SF
Property subtype
Multi-Family
Zoning
R2
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3-bedroom, 1 x 4-bedroom
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,803
Amenities
rear deck
storage shed
Heat Pump
Heat Pump, Baseboard
Interior, Dirt Floor, Full
Vinyl, Tile
Yes
3.00
3
Shingle
Wood Siding, Wood Frame
Building Details
Year Built
1880
Buildings
1
Units
2
Listing Agency:
Keller Williams Realty
(207) 284-3043
Listed By:
Daniel Weber Nicholas Laverriere
(207) 284-3043
Source:
Compass
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 31 at 12:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,644-square-foot duplex at 10-12 Maple Street includes one three-bedroom unit and one four-bedroom unit. The three-bedroom residence is vacant and ready for occupancy, while the second unit provides ongoing rental income. Built in 1880, the property sits on an oversized lot with a side yard, rear deck, large storage shed, two driveways, and a two-car garage.
Each unit has separately metered water, sewer, and other utilities. Heating is provided by a newer high-efficiency boiler in one unit and a heat pump in the other. Professional property management is currently in place and may remain. The property is zoned R2 and is located across from The Levee development, which is planned to include retail, restaurants, and a park connection to the Biddeford Riverwalk.
Each unit has separately metered water, sewer, and other utilities. Heating is provided by a newer high-efficiency boiler in one unit and a heat pump in the other. Professional property management is currently in place and may remain. The property is zoned R2 and is located across from The Levee development, which is planned to include retail, restaurants, and a park connection to the Biddeford Riverwalk.
Key Highlights
- Two‑unit property with one 3‑bedroom residence and one 4‑bedroom residence
- 2,644 square feet on an oversized lot
- One 3‑bedroom unit is vacant and ready for occupancy
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
$40,861
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
9.08%
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%
$817,220
$817.2K
Cap Rate 7%
$583,729
$583.7K
Cap Rate 9%
$454,011
$454.0K
Market Conditions
NOI Build-Up for 2,644 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
$78.4K $29.64/SF
− Vacancy
−$4.1K −$1.54/SF
EGI
$74.3K $28.10/SF
− OpEx
−$33.4K −$12.64/SF
NOI
$40.9K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /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%
$817,220
Cap Rate 7%
$583,729
Cap Rate 9%
$454,011
Alternative Uses
Best Use
Multifamily LT 5
$639.4K
$559.5K – $746.0K
NOI $44,758 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$583.7K
$510.8K – $681.0K
NOI $40,861 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$838.1K
$733.4K – $977.8K
NOI $58,669 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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 - R2-zoned property with separately metered utilities and two distinct residential units.
Where is this duplex located?
The property is located at 10-12 Maple Street Biddeford, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit property with one 3‑bedroom residence and one 4‑bedroom residence; 2,644 square feet on an oversized lot; One 3‑bedroom unit is vacant and ready for occupancy
