Duplex With Detached
New
For Sale
$620,000
143 Summer St, Kennebunk, ME 04043
Two separate living spaces support owner-occupancy, guest use, or rental income.
Property Size3,152 SF
Lot Size0.48 Acres
Price / SF$196.70
Days on Market3
Property Features for 143 Summer St
General Information
Standard status
Active
Size
3,152 SF
Total Parking Spaces
2
Lot size
0.48 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
woodstove
raised garden beds
Building Details
Year Built
1880
Buildings
2
Listing Agency:
Portside Real Estate Group
Listed By:
Catie-An Seavey
(207) 251-1285
Source:
Soldbymichaelthomas
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 12 at 1:14PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This two-unit duplex includes a 3,152-square-foot main residence and a separate apartment above a detached two-car garage. The primary home has three bedrooms and 1.5 bathrooms, with an open first-floor arrangement balanced by defined living areas. Recent interior paint, new carpeting upstairs, a woodstove, and raised garden beds add practical and lifestyle features. The garage apartment provides two bedrooms and one bathroom, creating a second distinct living space for rental, guest, or owner-related use.
The property occupies 0.48 acres at 143 Summer St in Kennebunk’s Historic District, with front and rear yards overlooking Moulton Farm. Sidewalk connections lead toward Downtown Kennebunk, Lower Village, and the beaches. Built in 1880, the property combines a historic setting with two residential accommodations and flexible occupancy options.
The property occupies 0.48 acres at 143 Summer St in Kennebunk’s Historic District, with front and rear yards overlooking Moulton Farm. Sidewalk connections lead toward Downtown Kennebunk, Lower Village, and the beaches. Built in 1880, the property combines a historic setting with two residential accommodations and flexible occupancy options.
Key Highlights
- Two‑unit property with 3,152 square feet
- Main residence offers 3 bedrooms and 1.5 bathrooms
- Detached two‑car garage includes a second‑floor 2‑bedroom, 1‑bathroom apartment
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
$53,358
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
8.61%
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%
$1,067,160
$1.1M
Cap Rate 7%
$762,257
$762.3K
Cap Rate 9%
$592,867
$592.9K
Market Conditions
NOI Build-Up for 3,152 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
$80.2K $25.44/SF
− Vacancy
−$4.0K −$1.26/SF
EGI
$76.2K $24.18/SF
− OpEx
−$22.9K −$7.25/SF
NOI
$53.4K $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%
$1,067,160
Cap Rate 7%
$762,257
Cap Rate 9%
$592,867
Alternative Uses
Best Use
Multifamily LT 5
$762.3K
$667.0K – $889.3K
NOI $53,358 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$695.9K
$608.9K – $811.9K
NOI $48,712 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$999.2K
$874.3K – $1.17M
NOI $69,942 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
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Business Placement
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living spaces support owner-occupancy, guest use, or rental income.
Where is this duplex located?
The property is located at 143 Summer St Kennebunk, ME.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Two‑unit property with 3,152 square feet; Main residence offers 3 bedrooms and 1.5 bathrooms; Detached two‑car garage includes a second‑floor 2‑bedroom, 1‑bathroom apartment
