Two-Unit Duplex with Walk-Out
1244-1246 Methodist Road, Westbrook, ME 04092
For Sale
$649,900
A leased residence and a second unit in progress provide flexibility across this two-unit property.
Property Size1,792 SF
Lot Size3.00 Acres
Price / SF$362.67
Days on Market202
Property Features for 1244-1246 Methodist Road
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
1st Floor Bedroom
Bathtub
Other
Storage
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Maine Home Connection
(207) 517-3100
Listed By:
Melissa Morrill
(207) 233-2456
Source:
Integrityhomesrealestategroup
Added: Apr 24
Changed: Nov 11
Last Checked: Nov 11 at 2:30AM
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 Maine Home Connection
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Investment Insights
Based on property information with market context.
Built in 2020, this duplex contains two units, each with two bedrooms, a full bath, and an open kitchen and living area. Both include interior access to a full walk-out basement. One unit is leased; work on the other is ongoing, with the next occupant able to select finishes. Sliding glass doors open to private decks overlooking a wooded backyard. The property totals 1,792 square feet and occupies 3 acres, with RGA3 zoning.
Mill Brook Preserve and Trail is directly across the road. Portland, Rock Row, I-95, and the Lakes Region are described as minutes away.
Mill Brook Preserve and Trail is directly across the road. Portland, Rock Row, I-95, and the Lakes Region are described as minutes away.
Key Highlights
- Two‑unit duplex on 3 acres
- 1,792 square feet; built in 2020
- Each unit has two bedrooms, a full bath, and an open kitchen and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,667
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,340
$633.3K
Cap Rate 7%
$452,386
$452.4K
Cap Rate 9%
$351,856
$351.9K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$48.4K $27.00/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$45.2K $25.25/SF
− OpEx
−$13.6K −$7.57/SF
NOI
$31.7K $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 Rate 5%
$633,340
Cap Rate 7%
$452,386
Cap Rate 9%
$351,856
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.8K – $527.8K
NOI $31,667 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$420.9K
$368.3K – $491.0K
NOI $29,462 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$492.5K
$431.0K – $574.6K
NOI $34,477 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A leased residence and a second unit in progress provide flexibility across this two-unit property.
Where is this duplex located?
The property is located at 1244-1246 Methodist Road Westbrook, ME.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex on 3 acres; 1,792 square feet; built in 2020; Each unit has two bedrooms, a full bath, and an open kitchen and living area
