Duplex With Separate
For Sale
$985,000
137 Avenue Road Extension, Exeter, ME 04435
Multi-Family, Exeter, ME
Property Size3,550 SF
Lot Size90.00 Acres
Price / SF$277.46
Days on Market49
Property Features for 137 Avenue Road Extension
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement
Parking features
Off Street, Open, Heated, On Street
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
Other Amenities, In-Law Apartment, 1st Floor Bedroom, Bathtub, Shower, Storage
Basement
Full, Walk-Out Access, Finished, Unfinished
Appliances
Tankless Water Heater
Lot features
Well Landscaped, Open, Farm, Level, Wooded, Rural
Standard status
Active
Size
3,550 SF
Lot size
90.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7623
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Hot Water(Heating), Baseboard, Solar (Heating), Electric (Heating), Zoned, Wood, Steam, Other (Heating), Wood Stove, Oil, Space Heater
Water source
Well, Private
Water front features
Lake
Water front
1
Amenities
large powered barn
chicken/goat area
double root cellar
cedar sauna
oversized multi-vehicle garage
potting shed
fenced gardens
13 apple trees
established berries
stream-fed farm pond
screened entertaining space
extensive trails
11 kW grid-tied solar array
Starlink connectivity
Building Details
Year built
1981
Floors in Building
2
Number of units
2
Flooring type
Carpet, Wood, Tile
Building materials
Log, Wood Frame, Shingle Siding
Roof type
Metal, Shingle
Architectural style
Cottage, Cape Cod
Additional Structures
Outbuilding, Other, Storage
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Susan Roberts
(207) 989-4229
Added: Sep 5
Changed: Oct 16
Last Checked: Oct 23 at 5:06PM
MLS# 1679487
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.
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Investment Insights
Based on property information with market context.
This 3,550-square-foot duplex property includes a primary residence and a separate cabin, creating two independent living spaces on 90 acres. The main home offers an open-concept design, handcrafted kitchen cabinetry, formal dining room, eat-in kitchen, solarium, basement, and multiple heating sources. The cabin includes a full bath, laundry, propane cooktop, wood cookstove, deck, and its own well and septic system.
Additional improvements include a powered barn with running water, an oversized multi-vehicle garage with unfinished second floor, potting shed, fenced gardens, root cellar, cedar sauna, screened entertaining area, and trails. The property also includes an 11 kW grid-tied solar array, 13 apple trees, established berry plantings, and a stream-fed farm pond. Built in 1981, the buildings feature log, wood-frame, and shingle-siding construction, with private well water and septic systems.
Additional improvements include a powered barn with running water, an oversized multi-vehicle garage with unfinished second floor, potting shed, fenced gardens, root cellar, cedar sauna, screened entertaining area, and trails. The property also includes an 11 kW grid-tied solar array, 13 apple trees, established berry plantings, and a stream-fed farm pond. Built in 1981, the buildings feature log, wood-frame, and shingle-siding construction, with private well water and septic systems.
Key Highlights
- 90 acres with 3,550 square feet of residential space
- Two separate residences, each with its own well and septic system
- 11 kW grid‑tied solar array with utility credits through Versant Power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,534
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,680
$650.7K
Cap Rate 7%
$464,771
$464.8K
Cap Rate 9%
$361,489
$361.5K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$49.0K $13.80/SF
− Vacancy
−$2.5K −$0.71/SF
EGI
$46.5K $13.09/SF
− OpEx
−$13.9K −$3.93/SF
NOI
$32.5K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,680
Cap Rate 7%
$464,771
Cap Rate 9%
$361,489
Alternative Uses
Best Use
Multifamily LT 5
$464.8K
$406.7K – $542.2K
NOI $32,534 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$427.5K
$374.0K – $498.7K
NOI $29,922 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,258 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 04435, ME
963
Population
520
Households
1.9
Avg Household Size
50
Median Age
14%
College-Educated
90%
High-School Grad
38.6 sq mi
ZIP Area
25
Density / Sq Mi
$76,875
Median Household Income
$41,402
Median Earnings
$850
Median Rent
$155,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent living spaces are supported by private wells, septic systems, and extensive accessory improvements.
Where is this duplex located?
The property is located at 137 Avenue Road Extension Exeter, ME.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 90 acres with 3,550 square feet of residential space; Two separate residences, each with its own well and septic system; 11 kW grid‑tied solar array with utility credits through Versant Power
