Two-Home Residential Income
116 Rogers Road Kittery, ME 03904
116 Rogers Road, Kittery, ME, 03904
$950,000
For Sale
$950,000
Two separate residences on one lot, with updates including 2021 roof and 2016 custom home amenities.
Property Size4,159 SF
Price / SF$228.42
Days on Market33
Property Features for 116 Rogers Road
General Information
- Standard status
- Active
- Size
- 4,159 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1996
Listing agency
Keller Williams Coastal and Lakes & Mountains Realty
(603) 610-8500
Listed by
Cornelius Hobbs III
(603) 610-8500
Source
Compass
Added: Jun 20 Updated: Jul 21 at 5:24PM Checked: Jul 21 at 5:24PM
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 Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
This for-sale property offers two homes on one lot, providing flexibility for rental income and multi-generational living. The front home at 116 Rogers Road is a 1996, 2-bedroom, 2-bath residence with a finished basement and an attached one-car garage. Updates include a new roof in 2021 and heat pump mini-splits installed in 2022, along with multiple heating sources.
Behind the main home, 118 Rogers Road is a custom-built 2016 residence featuring radiant floor heating and a brand-new boiler. The home includes a built-in sauna, as well as side and rear porches overlooking a fire pit area. Both homes are equipped with mini-splits.
The property is located in Kittery, Maine, about one mile from the ocean and the Portsmouth Naval Shipyard, offering a coastal setting with close proximity to major area employers and activities.
Behind the main home, 118 Rogers Road is a custom-built 2016 residence featuring radiant floor heating and a brand-new boiler. The home includes a built-in sauna, as well as side and rear porches overlooking a fire pit area. Both homes are equipped with mini-splits.
The property is located in Kittery, Maine, about one mile from the ocean and the Portsmouth Naval Shipyard, offering a coastal setting with close proximity to major area employers and activities.
Key Highlights
- Two separate residences on one lot: 116 Rogers Road (1996, 2 bed/2 bath) and 118 Rogers Road (2016 custom‑built)
- 116 Rogers Road features a finished full basement with walk‑out access and interior entry, plus an attached one‑car garage
- Updates on 116 Rogers Road include a new shingle roof in 2021 and heat pump with mini‑splits installed in 2022
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.8k | $25.44 |
| − Vacancy | −$5.2k | −$1.26 |
| EGI | $100.6k | $24.18 |
| − OpEx | −$30.2k | −$7.25 |
| NOI | $70.4k | $16.93 |
4,159 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$880.1K – $1.17M
NOI $70,405 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$918.2K
$803.4K – $1.07M
NOI $64,274 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,287 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate residences on one lot, with updates including 2021 roof and 2016 custom home amenities.
Where is this duplex located?
The property is located at 116 Rogers Road Kittery, ME.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two separate residences on one lot: 116 Rogers Road (1996, 2 bed/2 bath) and 118 Rogers Road (2016 custom‑built); 116 Rogers Road features a finished full basement with walk‑out access and interior entry, plus an attached one‑car garage; Updates on 116 Rogers Road include a new shingle roof in 2021 and heat pump with mini‑splits installed in 2022
