Building Details

Year Built 2002

Listing Agency: Show Phone

Listed By: Doug Schauf Show Phone

Source: Makemaineyourhome

Added: Jul 24 Changed: Aug 29 Last Checked: Aug 26 at 12:46PM

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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 Doug Schauf

Investment Insights

Based on property information with market context.

This duplex property includes a three-bedroom main residence and an attached one-bedroom apartment, offering distinct living areas within a single residential setup. The primary home has 2 full and 1-1/2 baths, a granite-and-tile kitchen with a copper farmhouse sink and oversized island, a great room with gas fireplace, first-floor pine flooring, and a primary suite with two walk-in closets and an en-suite bath. The apartment has its own entrance in addition to interior access, along with an open kitchen, living and dining area, one full and 1-1/2 baths, a bedroom with walk-in closet, parlor, and screened porch.

The lower level provides a heated one-car garage, workshop, utility area, and mudroom. A separate 30' x 40' garage includes an automotive lift, heat/AC, and upper storage. The property contains 5,220 SF, was built in 2002, and sits on 24.9 wooded acres at 134 Ross Corner Rd in Shapleigh, Maine. Norton Brook crosses the rear forest, and conservation land adjoins the acreage.

Key Highlights

• Three‑bedroom main home plus attached one‑bedroom apartment
• 5,220 SF duplex property built in 2002
• 24.9 wooded acres adjoining conservation land

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

$88,366

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

8.03%

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%

$1,767,320 $1.8M

Cap Rate 7%

$1,262,371 $1.3M

Cap Rate 9%

$981,844 $981.8K

Market Conditions

NOI Build-Up for 5,220 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

$132.8K $25.44/SF

− Vacancy

−$6.6K −$1.26/SF

EGI

$126.2K $24.18/SF

− OpEx

−$37.9K −$7.25/SF

NOI

$88.4K $16.93/SF

Area

York County, ME

Vacancy

4.94%

Lease Rate

$25.44 /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%

$1,767,320

Cap Rate 7%

$1,262,371

Cap Rate 9%

$981,844

Alternative Uses

Best Use

Multifamily LT 5

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,366 @ 7.0% cap · market cap 8.03%

Second Best

Apartment 5plus

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,671 @ 7.0% cap · market cap 7.33%

Theoretical Best

Office A

$1.65M

$1.45M – $1.93M (±1% cap)

NOI $115,830 @ 7.0% cap · market cap 10.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 04076, ME

2,927

Population

2,027

Households

1.4

Avg Household Size

47

Median Age

25%

College-Educated

95%

High-School Grad

38.7 sq mi

ZIP Area

76

Density / Sq Mi

$87,560

Median Household Income

$44,531

Median Earnings

$1,284

Median Rent

$324,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two residences share a private setting with custom kitchens, separate apartment access, and substantial workshop space.

Where is this duplex located?

The property is located at 134 Ross Corner Rd Shapleigh, ME.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Three‑bedroom main home plus attached one‑bedroom apartment; 5,220 SF duplex property built in 2002; 24.9 wooded acres adjoining conservation land