Duplex with Detached Garage
New
For Sale
$620,000
143 Summer Street, Kennebunk, ME 04043
Multi-Family, Kennebunk, ME
Property Size3,152 SF
Lot Size0.48 Acres
Price / SF$196.70
Days on Market1
Property Features for 143 Summer Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SR
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Interior features
In-Law Apartment, Shower, Storage
Basement
Full, Unfinished, Sump Pump
Lot features
Sidewalks, Historic District, Near Public Beach, Near Shopping, Near Town
Standard status
Active
Size
3,152 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6185
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Kerosene, Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1880
Number of units
2
Flooring type
Carpet, Wood
Building materials
Wood Frame, Clapboard
Roof type
Shingle
Architectural style
Cape Cod
Additional Structures
Storage
Listing Agency:
Portside Real Estate Group
(207) 204-0465
Listed By:
Catie-An Seavey
(207) 251-1285
Added: Sep 10
Last Checked: Sep 10 at 5:06AM
MLS# 1678733
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.
Investment Insights
Based on property information with market context.
This duplex combines a Cape Cod-style main residence with a separate apartment on the second floor of a detached garage. The primary home includes three bedrooms and 1.5 bathrooms, along with open-concept living areas, distinct interior spaces, a woodstove, recent interior paint, and newer carpeting upstairs. The garage apartment adds two bedrooms and one bathroom. Interior features include storage and an in-law apartment, while wood and carpet flooring complement the wood-frame, clapboard construction. The property also includes raised garden beds and front and rear yards.
Set on 0.48 acres within Kennebunk’s Historic District, the property has sidewalks connecting with Downtown Kennebunk, Lower Village, and nearby beaches. It overlooks Moulton Farm and is served by public water and a private septic system. Built in 1880, the property offers two separate living spaces within a 3,152-square-foot configuration.
Set on 0.48 acres within Kennebunk’s Historic District, the property has sidewalks connecting with Downtown Kennebunk, Lower Village, and nearby beaches. It overlooks Moulton Farm and is served by public water and a private septic system. Built in 1880, the property offers two separate living spaces within a 3,152-square-foot configuration.
Key Highlights
- Two‑unit property with a 3,152‑square‑foot total property size
- Primary residence has 3 bedrooms and 1.5 bathrooms
- Detached two‑car garage includes a 2‑bedroom, 1‑bath 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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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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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 distinct residences include a primary home and a separate apartment above a detached two-car garage.
Where is this duplex located?
The property is located at 143 Summer Street 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 a 3,152‑square‑foot total property size; Primary residence has 3 bedrooms and 1.5 bathrooms; Detached two‑car garage includes a 2‑bedroom, 1‑bath apartment
