Updated Two-Unit
For Sale
$325,000
10 State Court, Sanford, ME 04073
Two residences offer one-bedroom layouts with refreshed interiors and practical living spaces.
Property Size1,525 SF
Price / SF$213.11
Days on Market16
Property Features for 10 State Court
General Information
Standard status
Active
Size
1,525 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty
(207) 756-9102
Listed By:
Casey Munson
(207) 775-0248
Source:
Benchmarkmaine
Added: Jul 27
Changed: Aug 11
Last Checked: Aug 11 at 9:55AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,525 square feet arranged as two separate residences. Each unit includes 1 bedroom and 1 full bathroom, along with bright, functional living areas suited to residential occupancy. The property was built in 1920 and has received updates to its windows, doors, flooring, and interior paint.
Located at 10 State Court in Sanford, Maine, the property combines a two-unit configuration with completed interior improvements. The separate residences provide flexibility for an owner seeking a home with an additional rental unit or for continued use as a multi-unit residential property.
Located at 10 State Court in Sanford, Maine, the property combines a two-unit configuration with completed interior improvements. The separate residences provide flexibility for an owner seeking a home with an additional rental unit or for continued use as a multi-unit residential property.
Key Highlights
- Two‑unit duplex with 1,525 square feet
- Each unit includes 1 bedroom and 1 full bathroom
- Updated windows, doors, flooring, and interior paint
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
$25,816
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
7.94%
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%
$516,320
$516.3K
Cap Rate 7%
$368,800
$368.8K
Cap Rate 9%
$286,844
$286.8K
Market Conditions
NOI Build-Up for 1,525 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
$38.8K $25.44/SF
− Vacancy
−$1.9K −$1.26/SF
EGI
$36.9K $24.18/SF
− OpEx
−$11.1K −$7.25/SF
NOI
$25.8K $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%
$516,320
Cap Rate 7%
$368,800
Cap Rate 9%
$286,844
Alternative Uses
Best Use
Multifamily LT 5
$368.8K
$322.7K – $430.3K
NOI $25,816 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$336.7K
$294.6K – $392.8K
NOI $23,568 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$483.4K
$423.0K – $564.0K
NOI $33,839 @ 7.0% cap · market cap 10.41%
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
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
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 residences offer one-bedroom layouts with refreshed interiors and practical living spaces.
Where is this duplex located?
The property is located at 10 State Court Sanford, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,525 square feet; Each unit includes 1 bedroom and 1 full bathroom; Updated windows, doors, flooring, and interior paint
