Updated Duplex with Separate
For Sale
$574,500
19 Millbrook Road, Scarborough, ME 04074
Two-unit property with parking and an approved in-home business use.
Property Size3,000 SF
Price / SF$191.50
Days on Market750
Property Features for 19 Millbrook Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,754
Amenities
Heat Pump
Hot Water, Baseboard
2
Crawl Space, Not Applicable
Vinyl, Laminate
Yes
Concrete Perimeter, Slab
3.00
3
Pitched, Shingle
Vinyl Siding, Other, Steel Frame, Wood Frame
Building Details
Year Built
1960
Units
2
Listing Agency:
The Real Estate Store
(207) 838-3401
Listed By:
John Murphy · License #02078670
(207) 838-3401
Source:
Compass
Added: Aug 12, 2024
Changed: Aug 29
Last Checked: Aug 31 at 12:46AM
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 The Real Estate Store
Investment Insights
Based on property information with market context.
This 3,000-square-foot duplex was built in 1960 and is zoned R2. The property is permitted through the town as a two-unit residence with an in-home business. Separate electric services support the unit configuration, while recent improvements include updated windows, a newer roof, and vinyl plank flooring in most areas.
The building has vinyl siding and a pitched shingle roof, with parking available on site. The property is located at 19 Millbrook Road in Scarborough, Maine. Its combination of two-unit approval, separate electric service, parking, and documented updates provides a straightforward multifamily configuration with an additional permitted business use.
The building has vinyl siding and a pitched shingle roof, with parking available on site. The property is located at 19 Millbrook Road in Scarborough, Maine. Its combination of two-unit approval, separate electric service, parking, and documented updates provides a straightforward multifamily configuration with an additional permitted business use.
Key Highlights
- 3,000‑square‑foot duplex at 19 Millbrook Road, Scarborough, ME 04074
- Permitted through town as a two‑unit property with an in‑home business
- Separate electric services for the two‑unit configuration
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
$49,322
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
8.59%
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%
$986,440
$986.4K
Cap Rate 7%
$704,600
$704.6K
Cap Rate 9%
$548,022
$548.0K
Market Conditions
NOI Build-Up for 3,000 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
$95.4K $31.80/SF
− Vacancy
−$5.7K −$1.91/SF
EGI
$89.7K $29.89/SF
− OpEx
−$40.4K −$13.45/SF
NOI
$49.3K $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 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%
$986,440
Cap Rate 7%
$704,600
Cap Rate 9%
$548,022
Alternative Uses
Best Use
Multifamily LT 5
$757.4K
$662.7K – $883.6K
NOI $53,015 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$704.6K
$616.5K – $822.0K
NOI $49,322 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$824.6K
$721.5K – $962.0K
NOI $57,719 @ 7.0% cap · market cap 10.05%
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
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with parking and an approved in-home business use.
Where is this duplex located?
The property is located at 19 Millbrook Road Scarborough, ME.
What is the asking price?
The asking price for this property is $574,500.
What are key features of this property?
This property features: 3,000‑square‑foot duplex at 19 Millbrook Road, Scarborough, ME 04074; Permitted through town as a two‑unit property with an in‑home business; Separate electric services for the two‑unit configuration
