Waterfront Multifamily
For Sale
$825,000
13 & 16 Joyal Hill Lane, Casco, ME 04015
Multi-Family, Casco, ME
Property Size2,304 SF
Lot Size7.50 Acres
Price / SF$358.07
Days on Market94
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Property Features for 13 & 16 Joyal Hill Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Limited Residential
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bathroom 1, Bathroom 2
Patio and Porch features
Deck
Pets allowed
No
Interior features
In-Law Apartment, 1st Floor Bedroom, Bathtub
Basement
Full, Walk-Out Access, Finished, Daylight
Lot features
Near Country Club, Well Landscaped, Rolling/ Sloping, Open, Wooded, Abuts Conservation, Near Golf Course, Near Public Beach, Near Shopping, Near Town, Rural
Standard status
Active
Size
2,304 SF
Lot size
7.50 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5348
HOA Fee
$700 Annually
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Electric (Heating), Natural Gas, Baseboard
Cooling system
Wall Unit(s)
Water source
Private, Well
Water front features
Lake
Water front
1
Amenities
wrap-around porch
patio
private dock
campfire pit
Building Details
Year built
2004
Number of units
3
Flooring type
Wood, Laminate
Building materials
Log, Wood Frame, Log Siding
Roof type
Metal
Architectural style
Modern
Listing Agency:
Ocean Gate Realty, LLC.
(207) 773-1919
Listed By:
Kathleen Phillips LaBombard
(207) 329-7542
Added: Jul 14
Changed: Oct 8
Last Checked: Oct 15 at 2:06PM
MLS# 1671303
Copyright © 2026 Maine Listings. 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.
This multifamily property includes a 2,304-square-foot, chalet-style main residence with three bedrooms, one full bathroom, and one half bathroom. The home features a vaulted beamed ceiling, wide pine flooring, a jetted tub, a wrap-around porch, and walkout access to a pond-facing patio. A separate chalet contains two additional living units, each configured with two bedrooms, one bathroom, a kitchen, and a living room. Two long-term tenants currently occupy those units.
Set at 13 & 16 Joyal Hill Lane in Casco, Maine, the property encompasses 7.5 acres with 850 feet of owned lake waterfront on The Heath, which connects to Thompson Lake. Access to the water is provided by a private dock and a gently sloping trail. The grounds include mature fruit and berry plantings, a campfire area, and two included buildable lots that have been perc tested. Limited Residential zoning, private well service, and private septic systems are also in place.
Set at 13 & 16 Joyal Hill Lane in Casco, Maine, the property encompasses 7.5 acres with 850 feet of owned lake waterfront on The Heath, which connects to Thompson Lake. Access to the water is provided by a private dock and a gently sloping trail. The grounds include mature fruit and berry plantings, a campfire area, and two included buildable lots that have been perc tested. Limited Residential zoning, private well service, and private septic systems are also in place.
Key Highlights
- 7.5 acres with 850' of owned waterfront on The Heath
- 2,304 square feet in the main residence
- Separate chalet with 2 living units, each with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,879
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,580
$757.6K
Cap Rate 7%
$541,129
$541.1K
Cap Rate 9%
$420,878
$420.9K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$73.3K $31.80/SF
− Vacancy
−$4.4K −$1.91/SF
EGI
$68.9K $29.89/SF
− OpEx
−$31.0K −$13.45/SF
NOI
$37.9K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,580
Cap Rate 7%
$541,129
Cap Rate 9%
$420,878
Alternative Uses
Best Use
Apartment 5plus
$541.1K
$473.5K – $631.3K
NOI $37,879 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$633.3K
$554.1K – $738.8K
NOI $44,328 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 04015, ME
3,646
Population
2,982
Households
1.2
Avg Household Size
48
Median Age
32%
College-Educated
91%
High-School Grad
31.3 sq mi
ZIP Area
116
Density / Sq Mi
$64,229
Median Household Income
$43,870
Median Earnings
$1,214
Median Rent
$285,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple residences on private waterfront land provide flexible year-round, seasonal, or rental use.
Where is this multifamily property located?
The property is located at 13 & 16 Joyal Hill Lane Casco, ME.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 7.5 acres with 850' of owned waterfront on The Heath; 2,304 square feet in the main residence; Separate chalet with 2 living units, each with 2 bedrooms and 1 bathroom
