Duplex with One-Car
For Sale
$489,000
12 Harvest Drive, Orrington, ME 04474
Orrington, ME
Property Size2,048 SF
Price / SF$238.77
Days on Market257
Property Features for 12 Harvest Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
2
Full bathrooms
2
Standard status
Active
Size
2,048 SF
Amenities
common area
Building Details
Year built
2022
Listing Agency:
Ellsworth, Maine · Better Homes and Gardens Real Estate
(207) 667-7423
Listed By:
Stacy White · License #BA921662
(207) 812-7911
Added: Dec 8, 2025
Changed: Aug 19
Last Checked: Aug 22 at 2:06PM
MLS# 183299511:::1645922
Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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.
Built in 2022, this 2,048-square-foot duplex contains two residential units, each arranged with 2 bedrooms and 1 bath. Both units include a one-car garage and efficient heating, providing a consistent configuration across the property. The building sits within a subdivision in Orrington, Maine, at 12 Harvest Drive.
Residents also have access to 5.85 acres of shared common area, adding outdoor space beyond the individual lot. The property is positioned for access to shopping, the airport, and outdoor recreation in the surrounding area.
Residents also have access to 5.85 acres of shared common area, adding outdoor space beyond the individual lot. The property is positioned for access to shopping, the airport, and outdoor recreation in the surrounding area.
Key Highlights
- 2,048‑square‑foot duplex constructed in 2022
- Two units, each with 2 bedrooms and 1 bath
- One‑car garage included with each unit
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
$18,769
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
3.84%
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%
$375,380
$375.4K
Cap Rate 7%
$268,129
$268.1K
Cap Rate 9%
$208,544
$208.5K
Market Conditions
NOI Build-Up for 2,048 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
$28.3K $13.80/SF
− Vacancy
−$1.4K −$0.71/SF
EGI
$26.8K $13.09/SF
− OpEx
−$8.0K −$3.93/SF
NOI
$18.8K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$375,380
Cap Rate 7%
$268,129
Cap Rate 9%
$208,544
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,769 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$246.6K
$215.8K – $287.7K
NOI $17,262 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$661.4K
$578.8K – $771.7K
NOI $46,301 @ 7.0% cap · market cap 9.47%
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
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 04474, ME
3,812
Population
1,739
Households
2.2
Avg Household Size
47
Median Age
40%
College-Educated
98%
High-School Grad
25.0 sq mi
ZIP Area
152
Density / Sq Mi
$92,583
Median Household Income
$53,571
Median Earnings
$1,072
Median Rent
$239,200
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 - Each residence offers a two-bedroom, one-bath layout with dedicated garage space and efficient heating.
Where is this duplex located?
The property is located at 12 Harvest Drive Orrington, ME.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2,048‑square‑foot duplex constructed in 2022; Two units, each with 2 bedrooms and 1 bath; One‑car garage included with each unit
