Two-Unit Duplex with Private
For Sale
$550,000
10 Land Of Nod Road, Windham, ME 04062
Separate entrances and driveways provide independent access for both residences.
Property Size1,248 SF
Price / SF$440.71
Days on Market288
Property Features for 10 Land Of Nod Road
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi-Family
Zoning
Res
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,187
Amenities
heat pumps
washer/dryer hookups
separate driveways
private entries
Heat Pump
Hot Water, Heat Pump, Baseboard
1
Interior, Full, Unfinished
Laminate
Yes
Washer Hookup
1st Floor Bedroom, One-Floor Living
Concrete Perimeter
Level Entry
2.00
2
Shingle
No
Vinyl Siding, Wood Frame
Building Details
Year Built
1970
Units
2
Listing Agency:
Bean Group
(207) 774-4224
Listed By:
Bridget King Jason Miller
(207) 774-4224
Source:
Compass
Added: Nov 16, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:12AM
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 Bean Group
Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with two bedrooms and one full bathroom. Both units include heat pumps, washer and dryer hookups, first-floor bedrooms, and one-floor living. Separate driveways and private entrances provide distinct access, while the level site includes front and rear yard areas. The property has a concrete perimeter, vinyl siding, and wood-frame construction, with the building dating to 1970.
Located in Windham near Highland Lake, the property offers access to local lakes, mountain areas, and community amenities. Gorham, Westbrook, and Portland are also described as a short drive away. Residential zoning supports the property’s current duplex configuration.
Located in Windham near Highland Lake, the property offers access to local lakes, mountain areas, and community amenities. Gorham, Westbrook, and Portland are also described as a short drive away. Residential zoning supports the property’s current duplex configuration.
Key Highlights
- Duplex with 2 residences, each offering 2 bedrooms and 1 full bathroom
- 1,248 property size with construction completed in 1970
- Heat pumps and washer/dryer hookups in both units
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
$22,054
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
4.01%
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%
$441,080
$441.1K
Cap Rate 7%
$315,057
$315.1K
Cap Rate 9%
$245,044
$245.0K
Market Conditions
NOI Build-Up for 1,248 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
$33.7K $27.00/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$31.5K $25.25/SF
− OpEx
−$9.5K −$7.57/SF
NOI
$22.1K $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%
$441,080
Cap Rate 7%
$315,057
Cap Rate 9%
$245,044
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,054 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$293.1K
$256.5K – $342.0K
NOI $20,518 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$343.0K
$300.1K – $400.2K
NOI $24,011 @ 7.0% cap · market cap 4.37%
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
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 04062, ME
18,464
Population
8,695
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
46.7 sq mi
ZIP Area
395
Density / Sq Mi
$98,946
Median Household Income
$57,505
Median Earnings
$1,189
Median Rent
$370,900
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 - Separate entrances and driveways provide independent access for both residences.
Where is this duplex located?
The property is located at 10 Land Of Nod Road Windham, ME.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex with 2 residences, each offering 2 bedrooms and 1 full bathroom; 1,248 property size with construction completed in 1970; Heat pumps and washer/dryer hookups in both units
