Duplex Farmhouse with
For Sale
$550,000
775 N Parish Rd, Turner, ME 04282
Classic farmhouse with separate upper-level living, an unfinished third floor, and expansive barns overlooking a golf course.
Property Size3,564 SF
Price / SF$154.32
Days on Market42
Property Features for 775 N Parish Rd
General Information
Standard status
Active
Size
3,564 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty
Listed By:
Karyn MacGrath
Source:
Aroostookrealestate
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 7:03PM
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 Realty
Investment Insights
Based on property information with market context.
This duplex-style farmhouse, built in 1900, provides two distinct living areas within a classic residential setting. The upper level includes a kitchen and separate living space, while the unfinished third floor offers additional flexibility. Original character details include fireplaces in the living room and primary bedroom, French doors, and stained glass accents.
Expansive barns add substantial utility for workshop, storage, homesteading, or hobby-farm purposes. The property overlooks the first green of Turner Highlands Golf Course, with an active orchard across N Parish Rd and western views toward the White Mountains. The layout supports independent living arrangements while retaining shared gathering areas within the home.
Expansive barns add substantial utility for workshop, storage, homesteading, or hobby-farm purposes. The property overlooks the first green of Turner Highlands Golf Course, with an active orchard across N Parish Rd and western views toward the White Mountains. The layout supports independent living arrangements while retaining shared gathering areas within the home.
Key Highlights
- Duplex configuration with two separate living spaces
- Second‑floor kitchen and living area for independent occupancy
- Unfinished third floor provides additional adaptable space
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
$35,152
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
6.39%
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%
$703,040
$703.0K
Cap Rate 7%
$502,171
$502.2K
Cap Rate 9%
$390,578
$390.6K
Market Conditions
NOI Build-Up for 3,564 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
$50.9K $14.28/SF
− Vacancy
−$677 −$0.19/SF
EGI
$50.2K $14.09/SF
− OpEx
−$15.1K −$4.23/SF
NOI
$35.2K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /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%
$703,040
Cap Rate 7%
$502,171
Cap Rate 9%
$390,578
Alternative Uses
Best Use
Multifamily LT 5
$502.2K
$439.4K – $585.9K
NOI $35,152 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$477.1K
$417.5K – $556.6K
NOI $33,398 @ 7.0% cap · market cap 6.07%
Theoretical Best
Warehouse
$6.33M
$5.54M – $7.38M
NOI $443,095 @ 7.0% cap · market cap 80.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 04282, ME
5,817
Population
2,431
Households
2.4
Avg Household Size
43
Median Age
19%
College-Educated
97%
High-School Grad
59.3 sq mi
ZIP Area
98
Density / Sq Mi
$87,981
Median Household Income
$39,625
Median Earnings
$588
Median Rent
$254,400
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 - Classic farmhouse with separate upper-level living, an unfinished third floor, and expansive barns overlooking a golf course.
Where is this duplex located?
The property is located at 775 N Parish Rd Turner, ME.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex configuration with two separate living spaces; Second‑floor kitchen and living area for independent occupancy; Unfinished third floor provides additional adaptable space
