Duplex with Updated
New
For Sale
$280,000
14 Hammond St, Sanford, ME 04073
Wood flooring, a covered porch, basement hookups, and separate electric water heaters support the two-unit layout.
Property Size1,224 SF
Price / SF$228.76
Days on Market2
Property Features for 14 Hammond St
General Information
Standard status
Active
Size
1,224 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
covered porch
basement access with washer/dryer hookups
Building Details
Year Built
1902
Listing Agency:
Century 21 North East
Listed By:
Brian Samia Gary Samia
(207) 200-1388
Source:
Aroostookrealestate
Added: Sep 1
Last Checked: Sep 1 at 8:41PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This 1902 duplex contains two 1-bedroom, 1-bath residences. The first-floor unit is vacant and includes fresh paint, wood flooring, a covered porch, and basement access with washer/dryer hookups. The second-floor residence is well maintained and also has wood flooring. Vinyl siding and aluminum trim wrap provide a low-maintenance exterior.
The heating system, oil tank, and chimney liner were updated in 2023. Each unit has its own electric hot water heater. Located in downtown Sanford, the property offers access to shopping, restaurants, walking trails, and other community amenities. The separate unit configuration supports either owner occupancy with an additional rented residence or continued use as a two-unit investment property.
The heating system, oil tank, and chimney liner were updated in 2023. Each unit has its own electric hot water heater. Located in downtown Sanford, the property offers access to shopping, restaurants, walking trails, and other community amenities. The separate unit configuration supports either owner occupancy with an additional rented residence or continued use as a two-unit investment property.
Key Highlights
- Two‑unit duplex with 1‑bedroom, 1‑bath residences
- First‑floor unit is vacant and includes fresh paint, wood flooring, covered porch, and basement washer/dryer hookups
- Heating system, oil tank, and chimney liner updated in 2023
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
$20,720
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
7.40%
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%
$414,400
$414.4K
Cap Rate 7%
$296,000
$296.0K
Cap Rate 9%
$230,222
$230.2K
Market Conditions
NOI Build-Up for 1,224 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
$31.1K $25.44/SF
− Vacancy
−$1.5K −$1.26/SF
EGI
$29.6K $24.18/SF
− OpEx
−$8.9K −$7.25/SF
NOI
$20.7K $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%
$414,400
Cap Rate 7%
$296,000
Cap Rate 9%
$230,222
Alternative Uses
Best Use
Multifamily LT 5
$296.0K
$259.0K – $345.3K
NOI $20,720 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$270.2K
$236.5K – $315.3K
NOI $18,916 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$388.0K
$339.5K – $452.7K
NOI $27,160 @ 7.0% cap · market cap 9.70%
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
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
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 - Wood flooring, a covered porch, basement hookups, and separate electric water heaters support the two-unit layout.
Where is this duplex located?
The property is located at 14 Hammond St Sanford, ME.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex with 1‑bedroom, 1‑bath residences; First‑floor unit is vacant and includes fresh paint, wood flooring, covered porch, and basement washer/dryer hookups; Heating system, oil tank, and chimney liner updated in 2023
